Asian Battery Metals Accelerates Copper Project Expansion in Mongolia

Asian Battery Metals Expands Flagship Copper-Nickel Project with Strategic Acquisitions

Asian Battery Metals (ASX: AZ9) has significantly strengthened its position in Mongolia's critical minerals landscape through two strategic acquisitions – securing exclusive rights to the Maikhan Uul copper-gold project and obtaining a new mineral exploration tenement south of its flagship Yambat Project.

Strategic Expansion Brings New Copper-Gold Asset Into Portfolio

Asian Battery Metals has entered a binding agreement with Best Resources LLC for an exclusive option to acquire the Maikhan Uul copper-gold project, located just 8 kilometers from the company's flagship Oval Cu-Ni-PGE discovery in southwestern Mongolia.

The Maikhan Uul acquisition represents a natural extension of the company's copper-focused exploration strategy, bringing several key advantages:

• Mining license secured until 2045, providing long-term operational certainty
• Established resource base with a 2015 foreign resource estimate of 5.0Mt @ 0.58% Cu and 0.16g/t Au (non-JORC compliant)
• VMS-style copper-gold mineralisation confirmed by historical drilling
• Near-surface mineralisation extending to depths below 215m and remaining open
• Excellent infrastructure access, including proximity to high-voltage power

The company plans a staged, low-cost approach to assess and advance this opportunity, including SAMSON EM geophysical surveys and confirmation drilling scheduled to commence in Q3 2025.

New Exploration Tenement Expands Regional Footprint

Simultaneously, the company has been granted a new mineral exploration tenement spanning 3,327.17 hectares south of its Yambat Project. This strategic acquisition is based on knowledge gained from the company's potentially district-scale discovery at Oval.

The new tenement covers part of a regional magnetic high, interpreted as a potential extension of the MS1 and Oval intrusive zones. Initial exploration, including IP geophysics, is planned for later in 2025.

What Makes VMS Deposits Valuable?

Volcanogenic massive sulphide (VMS) deposits like Maikhan Uul are particularly prized in the mining industry. These deposits typically form at or near the seafloor through hydrothermal processes associated with submarine volcanic activity.

VMS deposits are known for containing:

• Multiple valuable metals – primarily copper and zinc, often with gold and silver credits
• High-grade mineralisation that can be economically extracted
• Well-defined boundaries that facilitate efficient mining
• Potential for expansion at depth as these systems can extend vertically

The Maikhan Uul project exhibits classic VMS characteristics with its copper-gold association, distinct mineralised lenses, and favourable host rock composition.

Future Plans and Development Timeline

Asian Battery Metals has outlined a clear due diligence program for the Maikhan Uul project:

1. Deployment of SAMSON EM technology to identify potential conductors prior to confirmation drilling
2. 200-300 meters of confirmation drilling in the higher-grade resource areas (Q3 2025)
3. Competent Person evaluation of existing data and classification into the JORC system
4. Independent legal review

For the new exploration tenement, the company will conduct induced polarisation (IP) surveys to test for potential mineralised areas, leveraging its understanding of the regional geology from its work at the adjacent Oval Project.

Investment Thesis: Building a Critical Minerals Hub in Mongolia

Asian Battery Metals copper project expansion is strategically consolidating copper and other critical mineral assets in Mongolia, positioning itself to meet growing demand driven by the global energy transition.

The company's growing portfolio now includes:

• Yambat Project (Oval Cu-Ni-PGE, Copper Ridge Cu-Au)
• Maikhan Uul (Cu-Au)
• Bayan Sair (new exploration tenement)
• Khukh Tag (Graphite)
• Tsagaan Ders (Lithium)

With these assets located just 300km from the Chinese border, Asian Battery Metals is establishing a strategic position to supply critical minerals to Asian markets, where demand for copper and battery metals continues to surge.

Management's Strategic Vision

Gan-Ochir Zunduisuren, Managing Director of Asian Battery Metals, highlighted the strategic fit of the Maikhan Uul acquisition:

"The Maikhan Uul Cu-Au Project is a natural extension of our regional copper-focused exploration strategy and is strongly synergistic with our existing Oval Cu-Ni discovery within the Yambat Project, both geographically and operationally. With shallow VMS-style mineralisation, a long-standing mining license, and close proximity to existing infrastructure, this project gives us exciting near-term optionality as we build a critical mass around our core asset in Mongolia."

Why Investors Should Watch Asian Battery Metals

Asian Battery Metals offers investors exposure to:

• Strategic critical minerals essential for the energy transition, particularly copper
• Multiple exploration and development targets across a growing portfolio
• Jurisdictional advantage with proximity to Asian markets and China
• Established infrastructure reducing development costs
• Potential for new discoveries across its expanded exploration footprint

The company's dual-acquisition strategy demonstrates a focused approach to building a critical minerals hub in Mongolia, with each new asset complementing and enhancing the value of its existing portfolio.

As Asian Battery Metals continues to advance its projects with planned exploration activities throughout 2025, investors should watch for further updates on resource development, particularly the results of confirmation drilling at Maikhan Uul and geophysical surveys across its expanded tenement portfolio.

Ready to Capitalise on Mongolia's Critical Minerals Opportunity?

For investors seeking exposure to the strategic critical minerals sector, Asian Battery Metals offers a compelling investment case with its expanding portfolio of copper, nickel and battery metal assets in Mongolia. To learn more about the company's strategic acquisitions and upcoming exploration plans, including the promising Maikhan Uul copper-gold project and newly granted exploration tenement, visit www.asianbatterymetals.com for comprehensive information about their growing critical minerals hub.