High-Priority Anomalies Identified at Oval Cu-Ni-PGE Project

Azzuro Resources PLC (“Azzuro” or “Company”) (ASX: AZ9) is pleased to provide an update on the Company’s exploration activities on the Yambat tenement in southwestern Mongolia, including fresh ongoing 3D induced polarisation (3D IP) survey work at the Oval Cu-Ni-PGE project and a single diamond drillhole CRS05 at the Copper Ridge Cu-Au prospect.

HIGHLIGHTS

• Outstanding first-stage 3D IP results have identified nine highly prospective new resistivity anomalies around the Oval intrusive body, the majority in areas and at depth not tested by previous drilling, opening up substantial new exploration potential.
• Five priority-1 targets (Ta-01 to Ta-05) have been defined around the Oval intrusion, each independently supported by coincident chargeability, low-resistivity and the new magnetic-constrained model applied to support the recently released JORC 2012 Exploration Target.
  • Ta-01 indicates continuation of the mineralised intrusive system to depth, extending beneath and beyond our last drillhole at Oval (OVD0522) into an area not adequately tested by drilling.
  • Ta-02 to Ta-05 sit at shallow depth, are oriented parallel to the Oval intrusion and are drill-ready geophysical targets.
  • Ta-05 extends south and southeast and is spatially coincident with a previously defined south FLEM plate2.
• A new Novaminex DHEM system has been imported by Azzuro into Mongolia and is currently being calibrated at the Red Hill project, with surveys planned over the Oval Cu-Ni area in September – adding another powerful and latest tool to Azzuro’s exploration arsenal.
• 3D IP surveying will continue over further targets flagged by the magnetic survey and featured in the JORC 2012 Exploration Target. It is expected to finish in Q3 2026 with further results to be reported.

Gan-Ochir Zunduisuren, Managing Director of Azzuro Resources PLC, commented:

“These are exactly the kind of results we were hoping for. The 3D IP survey delivered an exciting new set of targets, backed by strong magnetic survey modelling. This data is a real change in understanding of the Oval system but remains subject to drilling confirmation. With Azzuro’s new Novaminex DHEM system now on the ground, these anomalies will be narrowed down for more precise drill targets before initiating the Oval drilling plan. We are heading into a busy fall season with drilling at Red Hill and target generation at Oval Cu-Ni running in parallel. Importantly, we now see a clear pathway toward a potential JORC2012 Resource across our copper portfolio in southwestern Mongolia, which sets the stage for an initial commercial study – an exciting milestone for the Company and our shareholders.”

OVAL – 3D IP SURVEY AND MAGNETIC-CONSTRAINED MODELLING RESULTS

The first-stage interpretation of the 3D IP data, together with the magnetic-constrained model, has revealed nine new anomaly trends. The Company considers these anomalies warrant further investigation. They have been ranked as priority-1 and priority-2 targets according to whether they
display an anomaly trend consistent with the Oval intrusion and whether they are supported by
the combined geophysical interpretation of resistivity, chargeability and the new magnetic-
constrained model.

Priority-1 targets

The Ta-01 target extends towards the area where the magnetic anomaly is interpreted to plunge beneath and beyond OVD0522. The Ta-01 response is considered significant as it extends the geophysical interpretation into an area at depth that has not been adequately tested by drilling. It is well defined in all three datasets, showing coincident chargeability, low-resistivity and magnetic
anomalies (see Figure 1). The anomaly sits below current known drilled mineralisation at lower relative level (RL) than previously anticipated along a major fault lineament.

Adding further weight to the story, the Ta-03 trend is backed by the magnetic-constrained model completed in August 2026 by Terra Resources Pty Ltd, which has identified a compelling new, previously untested, magnetic anomaly extending from the western side of the Gossan zone towards North Oval.

The Ta-02, Ta-03, Ta-04 and Ta-05 targets are all well-defined low resistivity, high chargeability anomalies showing strong consistency between the magnetic and IP models and are oriented sub-parallel to the Oval intrusion itself (see Figure 1). This orientation is important geologically as its likely structures in the same orientation as Oval were open at the time of mineralised magmatic intrusion and could contain mineralisation similar or better than Oval. All four targets occur at shallow depth, making them readily testable by shallow drilling.

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