Azzuro Hits 12% Copper at Red Hill as Strike Grows to 550m and Stays Open

Azzuro extends high-grade copper-gold system to 550m at Red Hill

Azzuro Resources has reported Batch 3 assay results from its 2026 drilling programme at the 100%-owned Red Hill Copper-Gold VMS Project in Mongolia, extending the confirmed strike length to close to 550m. Five drillholes were reported: MU2604, MU2605, MU2606, MU2607 and MU2608. The system remains open in all directions — to the west, east and down-dip — and has been extended by every drilling batch to date.

This early-stage exploration success, where each drilling batch is expanding the mineralised footprint, signals significant discovery upside — a key de-risking moment for resource-focused investors.

Highest copper grades of 2026 drilling programme returned

MU2605 delivered the standout intercept of the 2026 programme: a massive-sulphide lens grading almost 12% copper. The hole was drilled approximately 124m further west along strike from MU2604, testing the western continuation of the system. Assays confirm copper grades strengthen to the west.

MU2605 intercepts:

• 1.6m @ 11.94% Cu, 1.63 g/t Au, 30.13 g/t Ag & 0.84% Zn from 127.2m
• 7.0m @ 0.8% Cu and 0.19 g/t Au from 75.0m
• 14.2m @ 0.55% Cu from 113.0m

MU2604 confirms broad polymetallic mineralisation

MU2604 returned a thick, polymetallic intercept validating the western extension beneath the geophysical anomaly. Copper, gold, silver and zinc were intersected across a broad interval.

MU2604 intercepts:

• 18.0m @ 1.02% Cu, 0.54 g/t Au & 12.14 g/t Ag from 74.0m
• Including 4.3m @ 1.27% Cu, 1.41 g/t Au, 36.94 g/t Ag & 6.37% Zn from 87.8m

The combination of high-grade copper lenses within broader envelopes of polymetallic mineralisation supports tonnage and grade optionality as the Company advances towards resource definition.

What is a VMS deposit and why does it matter?

Volcanogenic Massive Sulphide (VMS) deposits form on or below the seafloor from volcanic-related hydrothermal activity. They typically host copper, zinc, lead, gold and silver. VMS deposits are known for their polymetallic endowment and can host high-grade zones within broader mineralised envelopes.

Key characteristics of VMS deposits:

1. Polymetallic Nature: VMS systems carry multiple valuable metals (Cu, Zn, Au, Ag, Pb) in a single deposit, offering commodity diversification
2. High-Grade Zones: Massive sulphide lenses can deliver exceptional grades within broader mineralised envelopes
3. Tonnage Potential: VMS deposits can extend over hundreds of metres of strike and down-dip, supporting large-tonnage resource development

Red Hill’s growing strike length and multi-metal grades are consistent with a fertile VMS system — the type that can deliver both tonnage and grade, making it an attractive target for resource-focused investors.

Shallow high-grade gold corridor extended

MU2606 intercepted the northern high-grade gold corridor approximately 50m from where it was previously intersected by MU2501 in 2025. The shallow gold mineralisation sits within a broader ~600m gold corridor in the northern part of Red Hill. The hole ended in 7m of shallow copper mineralisation at 0.33% Cu from 53m, potentially opening a new exploration direction to the north.

MU2606 intercepts:

• 6.0m @ 4.18 g/t Au & 9.22 g/t Ag from 18.7m
• Including 3.0m @ 7.38 g/t Au from 19.7m
• 2.0m @ 2.02 g/t Au & 35.65 g/t Ag from 34.0m
• 2.0m @ 1.14 g/t Au & 12.1 g/t Ag from 10.7m

Near-surface gold mineralisation with grades above 4 g/t Au presents potential early development optionality and adds to Red Hill’s multi-commodity appeal.

Western extension confirmed by MU2608

MU2608 extended copper mineralisation to the western end of the VMS system. MU2607, drilled near the eastern boundary, did not intercept substantial mineralisation but has not ruled out eastern extensions at greater depth.

MU2608 intercepts:

• 5.0m @ 0.64% Cu from 63.0m
• 6.0m @ 0.51% Cu from 79.0m

Key drilling results summary

Managing Director commentary

Gan-Ochir Zunduisuren, Managing Director

“MU2604 and MU2605 have returned the highest copper grades of our 2026 programme, headlined by a massive-sulphide lens grading almost 12% copper in MU2605, while MU2606 confirms high-grade gold from close to surface. Together they show Red Hill is a large, fertile copper-gold system that continues to grow with each batch of results — now confirmed over close to 550 metres of strike and still open in every direction.”

Zunduisuren added that with metallurgical testwork commencing this quarter and further assays pending, the Company’s focus is on defining the size, geometry and key characteristics of the system and its potential to be developed alongside the Oval copper-nickel discovery.

Next steps and upcoming catalysts

1. Assay results from remaining Red Hill and Copper Ridge drillholes — expected over the coming weeks
2. Metallurgical testing to commence in Q3 2026
3. Integration of data and planning of further drilling ongoing
4. Completion of 3D IP geophysical survey at the Oval Cu-Ni area in August 2026

Multiple near-term newsflow catalysts including pending assays, metallurgical results and geophysics at a second project provide ongoing momentum through H2 2026.

Strategic context — Mongolia’s low-cost operating jurisdiction

Azzuro’s stated focus is on developing Red Hill alongside the Oval copper-nickel discovery in Mongolia, a low-operating-cost jurisdiction. Jurisdictional cost advantages can materially impact project economics at the development stage, adding to the strategic appeal of Azzuro’s Mongolian portfolio.

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