Announcement • Apr 29
Azarga Metals Corp., Annual General Meeting, Jun 23, 2026 Azarga Metals Corp., Annual General Meeting, Jun 23, 2026. Location: british columbia, white rock Canada Announcement • Feb 17
Azarga Metals Corp. announced that it expects to receive CAD 0.5 million in funding Azarga Metals Corp announced a non-brokered private placement to issue 3,703,703 units at an issue price of CAD 0.135 for the proceeds of CAD 499,999.905 on February 17, 2026. Each Unit consists of one common share (a "Share") of the Company and one-half of one share purchase warrant (each whole share purchase warrant, a "Warrant"). Each Warrant entitles the holder to purchase one common share of the Company (each a "Warrant Share") at a price of CAD 0.20 per Warrant Share for a period of two (2) years from closing of the Private Placement. Finder's fees may be payable. The securities issued in connection with the Private Placement will be subject to a four-month and one-day hold period under applicable securities laws. The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the Exchange. Certain insiders of the Company are expected to participate in the Private Placement New Risk • Feb 12
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 18% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (23% average weekly change). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (CA$15.3m market cap, or US$11.2m). Announcement • Feb 11
Azarga Metals Corp. announced that it has received CAD 1 million in funding On February 11, 2026, Azarga Metals Corp. closed the transaction. In connection with the Private Placement, the Company paid cash finder's fees of CAD 30,000 and issued 300,000 Shares, and 600,000 non-transferable finder's warrants to certain arm's length finders. The non-transferable finder's warrant is exercisable to acquire one Share of the Company at a price of CAD 0.10 per Share for a period of two years from the date of closing the Private Placement. Superb Standard Ltd., a current shareholder approved control person of the Company, participated in the Private placement with Superb subscribing for 2,500,000 Units, which constitutes a related party transaction pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. There has not been a material change in the percentage of the outstanding securities of the Company that are individually or beneficially owned by Superb as a result of its participation in the private placement. The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the insiders in the private placement in reliance of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the insider participation does not exceed 25% of the Company's market capitalization as determined in accordance with MI 61-101. Announcement • Jan 13
Azarga Metals Corp. announced that it expects to receive CAD 1 million in funding Azarga Metals Corp. announced a non-brokered private placement of up to 10,000,000 units at a price of CAD 0.10 per Unit, for gross proceeds of up to CAD 1,000,000 on January 12, 2026. Each Unit consists of one common share of the Company and one half of one share purchase warrant. Each Warrant entitles the holder to purchase one common share of the Company at a price of CAD 0.20 per Warrant Share for a period of two years from closing of the Private Placement. Finder’s fees may be payable on the Private Placement, subject to the acceptance of the TSX Venture Exchange (the “Exchange”). The securities issued in connection with the Private Placement will be subject to a four-month and one-day hold period under applicable securities laws. The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the Exchange. Board Change • Jul 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. Independent Director Doris Meyer was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Mar 06
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 103% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-CA$213k). Shareholders have been substantially diluted in the past year (103% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$2.58m market cap, or US$1.81m). Announcement • Feb 05
Azarga Metals Corp., Annual General Meeting, Apr 04, 2025 Azarga Metals Corp., Annual General Meeting, Apr 04, 2025. Location: british columbia, white rock Canada New Risk • Jan 24
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 101% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-CA$57k). Shareholders have been substantially diluted in the past year (101% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$1.83m market cap, or US$1.27m). Announcement • Jan 21
Azarga Metals Corp. announced that it has received CAD 1.1 million in funding from Junbord International Limited, Superb Standard Limited On January 20, 2025, Azarga Metals Corp., closed the transaction. The company issued 36,666,666 common shares at a price of CAD 0.03 per unit for the gross proceeds of CAD 1,099,999.98. Announcement • Jan 01
Azarga Metals Corp. announced that it expects to receive CAD 1.1 million in funding from Junbord International Limited Azarga Metals Corp. announced a non-brokered private placement that it will issue up to 36,666,667 common shares at an issue price of CAD 0.03 per share for the gross proceeds of up to CAD 1,100,000.01 on December 31, 2024. Upon closing the private placement and the issuance of the common shares, Junbord International Limited will control 18,333,333 common shares of the company, representing 24.9% of the outstanding common shares of the company after the closing of the private placement. Upon closing the private placement and the issuance of the common shares, Superb Standard Ltd. will control 18,333,333 common shares of the company, representing 24.9% of the outstanding common shares of the company after the closing of the private placement. The private placement is subject to the approval of disinterested shareholders and the acceptance of the TSX-V. Board Change • Dec 03
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Blake Steele was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 10
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Blake Steele was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Aug 28
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$57k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$177k free cash flow). Shares are highly illiquid. Negative equity (-CA$57k). Revenue is less than US$1m. Market cap is less than US$10m (CA$909.3k market cap, or US$675.8k). Minor Risk Shareholders have been diluted in the past year (22% increase in shares outstanding). Board Change • Nov 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Blake Steele was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 30
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Blake Steele was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Aug 11
Azarga Metals Corp., Annual General Meeting, Oct 06, 2023 Azarga Metals Corp., Annual General Meeting, Oct 06, 2023. Agenda: Annual General and Special Meeting. New Risk • Jul 21
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 68% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$697k free cash flow). Share price has been highly volatile over the past 3 months (38% average weekly change). Negative equity (-CA$1.6m). Earnings have declined by 39% per year over the past 5 years. Shareholders have been substantially diluted in the past year (68% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$2.68m market cap, or US$2.03m). Announcement • Feb 17
An unknown buyer completed the acquisition of Azarga Metals Limited from Azarga Metals Corp. (TSXV:AZR). An unknown buyer signed a share purchase agreement to acquire Azarga Metals Limited from Azarga Metals Corp. (TSXV:AZR) for $0.075 million on February 16, 2023.
An unknown buyer completed the acquisition of Azarga Metals Limited from Azarga Metals Corp. (TSXV:AZR) on February 16, 2023. Announcement • Nov 25
Azarga Metals Corp. Completes Induced Polarization Survey on High-Grade Copper-Rich VMS Marg Project in Yukon Azarga Metals Corp. announced the successful completion of its induced polarization ("IP") survey at its high-grade copper-rich Volcanogenic Massive Sulphide ("VMS") Marg project (the "Marg Project") located within the Keno Hill Silver District, Yukon Territory. IP surveys have long been employed with great success on other VMS projects throughout Canada and the World to locate and define disseminated VMS alteration-associated sulphide haloes often enveloping high-grade, Au-Ag-Cu-Zn-rich volcanogenic massive sulphides such as those found at the Marg VMS deposit. During the field program it became evident that there were strong conductive formational graphite and barren sulphide-bearing ‘marker horizons' that run the length and breadth of the Marg Project and that frequently occur as ‘cap rocks' to the underlying VMS systems. This was positive for Azarga Metals' IP program as pyrite and massive sulfide minerals were historically deposited by hydrothermal fluids. These minerals typically have a huge IP signature, especially when disseminated as smaller grain in a rock matrix. The IP survey was accomplished with 50 metre spacings and the data was collected in a Constant Separation Traverse style, along the priority lines. The highest priority areas immediately adjacent to and over the Marg deposit were covered by the 2022 IP survey, however, due to winter weather conditions, a minor number of peripheral lines had to be deferred until a later date. The IP survey results are expected to be released in December 2022 shortly after the final processing and interpretations are completed by Abitibi Geophysics Ltd. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Blake Steele was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 21
Azarga Metals Initiates Induced Polarization Survey on High-Grade Copper-Rich VMS Marg Project in Yukon Azarga Metals Corp. announced that it has initiated an induced polarization ("IP") survey at its high-grade copper-rich Volcanogenic Massive Sulphide ("VMS") Marg project (the "Marg Project") within the Keno Hill Silver District, Yukon Territory. It is anticipated that the OreVision® IP survey method will provide an excellent means of confirming the presence of disseminated sulphide alteration haloes up to 580 metres below surface and confirming their association with the known Marg VMS lenses. Ideally, geophysical inversions of the newly acquired IP survey data will eventually result in the creation of 3D isoshells outlining strong chargeability and resistivity anomalies hidden below the many formational graphite and barren sulphide-caused conductive ‘marker horizons' that run the length and breadth of the Marg property and that frequently occur as ‘cap rocks' to the underlying VMS systems, such as at the Marg deposit. While conventional electromagnetic ("EM") systems are often used to target VMS mineralisation, the ubiquitous presence of formational graphite and barren sulphide-caused anomalies throughout the Marg Project area makes EM targeting without additional geological, geochemical and/or geophysical support more challenging. Announcement • Aug 30
Azarga Metals Corp. announced that it expects to receive CAD 0.6 million in funding Azarga Metals Corp. announced a non-brokered private placement of up to 40,000,000 units at a price of CAD 0.015 per unit for gross proceeds of CAD 600,000 on August 29, 2022. Each unit will consist of one common share and one share purchase warrant. Each warrant entitles the holder thereof to purchase one share of the company at a price of CAD 0.05 per share for a period of three years from the closing of the transaction. The finders fees will be payable with respect to the transaction, subject to the acceptance of the TSX Venture Exchange. The transaction is subject to approval of the TSX Venture Exchange. Announcement • Jun 10
Azarga Metals Corp. Appoints Doris Meyer as Director Azarga Metals Corp. announced appointment of Doris Meyer as a director. The number of directors of the company is now restored to three by this appointment. Doris Meyer is the corporate secretary of the company. Doris gained her early experience in the mining industry as vice president finance of Queenstake Resources Ltd. from 1985 to 2003. Ms. Meyer launched private company Golden Oak in October 1996 with Queenstake as first client. Since that time, Golden Oak has provided publicly traded mineral exploration companies with administrative, financial reporting and corporate compliance services. Ms. Meyer is also corporate secretary and director for a number of publicly listed exploration companies trading on the TSX-V. Ms. Meyer is a past member of the Institute of chartered professional accountants of British Columbia. Ms. Meyer has been the corporate secretary of the company since 2008. Announcement • May 10
Azarga Metals Corp., Annual General Meeting, Jul 08, 2022 Azarga Metals Corp., Annual General Meeting, Jul 08, 2022. Announcement • Apr 22
Azarga Metals Corp. Announces Resignation of Vladimir Pakhomov from the Board of Directors Azarga Metals Corp. announced that Vladimir Pakhomov has resigned from the Board of Directors with immediate effect. Announcement • Aug 17
Azarga Metals Corp. Announces Updated Resource and Preliminary Economic Assessment on Unkur Copper-Silver Project Azarga Metals Corp. announces the positive findings of an updated preliminary economic assessment ("PEA") for the development of its wholly owned Unkur Copper-Silver Project in the Zabaikalsky administrative region of Eastern Russia. The mining method selected for the PEA is open-pit mining followed by underground mining, based upon owner mining of ore and waste. The initial mine plan has been designed on a higher-grade sub-set of the 2021 Mineral Resource, comprising 16.1 million tonnes of oxide mineralization at a grade of 0.61% copper and 44g/t silver and 35 million tonnes of sulfide mineralization at a grade of 0.58% copper and 38g/t silver constrained for open pit and underground mining. The annual production rate from an open pit will average approximately 2.75 million tonnes of ore per year, with a maximum of 3.5 million tonnes in Year 2 and 3. This is identical for Base and Open Pit Only Scenarios. The overall LOM waste to ore (i.e., strip) ratio from open pit is projected to be 8.87:1. However, it should be noted that much of the overburden is unconsolidated moraine material that will not require blasting. The annual production rate from an underground operation will average 2 million tonnes of ore per year. It is applicable to Base Scenario. WAI prepared additional scenarios to mine both oxide and sulfide mineralization from the open pit. These scenarios are linked to different processing options and require much higher capital expenditure with negative impact on NPV and IRR of the project, albeit remaining economic for potential consideration. Preliminary metallurgical test work on a bulk sample demonstrated that most economically viable extraction of copper and silver from oxide mineralization can be achieved using a SART circuit in heap leach, accepted as a Base Scenario in the PEA. The PEA also considered a SART process in agitated leach and sequential SX-EW process in agitated and heap leach. The latter three options provide higher recoveries from oxide mineralization for both copper and silver. Although remaining economic, they require much higher capital expenditure as well as much higher operating costs, elongating the payback period for the project by additional 2 years, with lower NPV and IRR. The Base Scenario assumes the proposed SART process plant will be based on heap leaching operation that will provide an average silver recovery of 77.3% and an average copper recovery of 58.8%, taking most recent tests and process efficiencies into account. The SART process is estimated to produce a high-grade copper and silver concentrate and to recycle cyanide that can be returned into the SART process. The sulfide mineralization can be treated using conventional hydrometallurgical processing methods. Production of sulfide concentrate will be based on conventional gravity and flotation processing, with an average silver recovery of 82.7% and an average copper recovery of 89.1% Tailings from the process plant will be pumped to a tailings management facility. Announcement • Jul 15
Azarga Metals Corp. (TSXV:AZR) has entered into a term sheet to acquire Marg Copperrich VMS project in Central Yukon from Golden Predator Mining Corp. (TSXV:GPY) for CAD 1.6 million. Azarga Metals Corp. (TSXV:AZR) has entered into a term sheet to acquire Marg Copperrich VMS project in Central Yukon from Golden Predator Mining Corp. (TSXV:GPY) for CAD 1.6 million on July 14, 2021. A non-refundable Exclusivity Fee of CAD 0.05 million payable within 5 days of signing for a 60-day exclusivity period to enable Azarga Metals to conduct its due diligence investigations. On completion of the transaction, fully paid ordinary shares in Azarga Metals, to the value of CAD 0.7 million (based on the volume-weighted average trading price of Azarga Metals shares for the 20 trading days prior to any public announcement related to the transaction). The shares may be subject to an involuntary escrow period as determined by the relevant stock exchange and regulatory bodies. If the escrow period is longer than 6 months, a further cash payment of CAD 1 million will be payable to Golden Predator on signing; and a further cash payment of CAD 0.2 million at the one-year anniversary date for the completion of the transaction; and a further cash payment of CAD 0.35 million at the two-year anniversary date for the completion of the transaction; and a milestone payment of CAD 3 million (in cash or shares at Golden Predators discretion) upon final decision to mine by Azarga Metals at the Marg Project. On and from completion of the transaction, Golden Predator will be entitled to a 1% NSR royalty of all metals extracted from the Project. The transaction is subject to due diligence, approval by the TSX Venture Exchange. The conditions also include receipt of appropriate consent under the existing Baker Steel Resources Trust convertible loan. Announcement • May 28
Azarga Metals Corp. Provides Update on Unkur Copper-Silver Project AZARGA METALS CORP. announced that in direct follow-up to the 19th January 2021 news release, which highlighted results from its recent reconnaissance geochemical exploration program at Unkur, team of geologist's have been at site for the past week carrying out a GPS planning survey and other works to prepare site for the next phase of physical exploration activities. The recent survey works at Unkur were focussed on the eastern side of the license area known as Unkur East, where the results of the channel sampling conducted in late-2020 showed significant zones of copper mineralization at surface on the east side of the Kemen River. The main aim of the works is to map drill-hole locations in preparation for a potential 2,000-3,000 meter drilling program at Unkur East, which has never previously been drilled. Gordon. As announced on 12th April 2021, the preparation of an updated Preliminary Economic Assessment (including an updated Mineral Resource estimate) for the Unkur West Copper-Silver Project incorporating the drilling results reported in 2020 continues to make progress, with results expected to be announced in coming weeks. Announcement • Mar 31
Azarga Metals Corp. announced that it has received CAD 1.25 million in funding On March 29, 2021, Azarga Metals Corp. (TSXV:AZR) closed the transaction. The company issued 20,833,329 units for gross proceeds of CAD 1,249,999.74. The company paid CAD 71,387 cash and issued 1,189,797 broker warrants, on the same terms as a warrant, in satisfaction of finder’s fees on the offering. Recent Insider Transactions • Mar 01
Non-Executive Chair recently sold CA$55k worth of stock On the 24th of February, Alexander Alan Molyneux sold around 610k shares on-market at roughly CA$0.09 per share. This was the largest sale by an insider in the last 3 months. This was Alexander Alan's only on-market trade for the last 12 months. Announcement • Feb 18
Azarga Metals Corp. announced that it expects to receive CAD 0.5 million in funding Azarga Metals Corp. (TSXV:AZR) announced a private placement of up to 8,333,333 units at an issue price of CAD 0.06 per unit for gross proceeds of CAD 500,000 on February 16, 2021. The company has also received commitments for the transaction. Each unit will consist of common share and one-half of one Share purchase warrant. Each warrant entitles the holder thereof to purchase one share of the company at a price of CAD 0.12 per share for a period of two years from the closing of the transaction. All securities issued in the transaction have a hold period of four months and a day. The finders fees may be payable in the transaction. The transaction is subject to approval of the TSX Venture Exchange. Announcement • Feb 10
Azarga Metals Corp., Annual General Meeting, Apr 09, 2021 Azarga Metals Corp., Annual General Meeting, Apr 09, 2021. Announcement • Jan 20
Azarga Metals Corp. Announces Results from its Reconnaissance Geochemical Exploration Program Have Shown Previously Unknown Areas of Copper and Silver Mineralization on Both the Eastern and Western Limbs of the Unkur Syncline on its 100% Owned Unkur Copper-Silver Project Azarga Metals Corp. announce that results from its reconnaissance geochemical exploration program have shown previously unknown areas of copper and silver mineralization on both the eastern and western limbs of the Unkur syncline on its 100% owned Unkur Copper-Silver Project (the “Project”) located in Eastern Russia. The reconnaissance geochemical exploration field operations took place during October and early November 2020. The object of the program was to identify new areas of copper and silver mineralization outside of the known area of recent drilling by taking lithochemical samples just below the surface over widespread areas of the property and analyzing the -1mm fraction. Due to frost and snow on site, the original design of the program was reduced but despite this, 180 rock-chip samples and 28 channel samples were taken at 6 locations. The results of the channel sampling showed significant zones of copper mineralization at surface on the east side of the Kemen River (known as the Kemen area) as well as areas on the southwestern side of the property (Unkur SW In the Kemen area, several lithochemical samples showed more than 0.05% copper in three anomalies extending over strike lengths of 2 km, 1.1 km, and 0.9 km (using the >25ppm Cu value), possibly at different stratigraphic levels. Copper mineralization in outcrops was also found at several locations on which channel samples were taken In addition, new mineralization was discovered over an area of 250x160 m at Unkur SW in four closely spaced outcrops on which channel samples were taken This mineralization appears to be stratigraphically below the main Unkur mineralization and implies a second perhaps parallel zone of mineralization to the known body hosting the current resources at Unkur. Announcement • Oct 17
Azarga Metals Corp. Starts Reconnaissance Geochemical Exploration At Unkur Azarga Metals Corp. reported that a reconnaissance geochemical exploration program has started on its 100% owned Unkur Copper-Silver Project located in Eastern Russia. The object of the work is to identify additional areas of copper and silver mineralization outside of the current Mineral Resource and its extension, particularly on the eastern side of the 5,390 hectare property, which remains underexplored. In additional to the commencement of these geochemical and reconnaissance works, Azarga Metals' independent consultant continue to work on an updated NI43-101 Mineral Resource estimate for the Project. The updated Mineral Resource estimate will include data from the 15 drill-holes (5,572 meters) drilled in the 2019-2020 drilling program, which extended the known mineralized strike on the western side of the Project by approximately 90%. The results of the updated Mineral Resource estimate will be published when finalized.