Asian Battery Metals Completes Mongolia Acquisition and Commences Drilling

The successful completion of the Asian Battery Metals Mongolia acquisition marks a pivotal moment for Asian Battery Metals PLC (ASX: AZ9), as the company prepares to commence drilling operations at the newly acquired Maikhan Uul Copper-Gold Project next week. This strategic acquisition represents a significant milestone for the company as it expands its portfolio of critical metal assets in one of Asia's most prospective mining regions.

The completion of this deal positions Asian Battery Metals to capitalise on growing global demand for copper and gold—two metals essential for energy transition technologies and economic development. With rig mobilisation already well advanced, the company is moving quickly to unlock the exploration potential of this promising asset.

Immediate Drilling Campaign to Test High-Priority Targets

The company has outlined an aggressive 1,500-metre drilling program set to begin within the week, targeting multiple geological features identified through previous exploration work. The program combines both reverse circulation (RC) and diamond drilling techniques to systematically test the project's potential.

Key Drilling Objectives

• RC drilling targeting the established gold mineralisation zone

• Diamond drilling to test unexplored DHEM (downhole electromagnetic) plates

• Investigation of the interpreted feeder zone identified in previous surveys

• Rock chip sampling to assess surface mineralisation

• Verification of historical trench copper grades

The drilling strategy builds on encouraging results from previous exploration, including significant drill intercepts that have validated the project's geological potential. Historical exploration has identified compelling geochemical and geophysical signatures across the project area.

Strategic Portfolio Synergies Emerging

One of the most compelling aspects of this acquisition is the 8-kilometre proximity to Asian Battery Metals' existing Yambat (Oval Cu-Ni-PGE) Project. Furthermore, this close geographic relationship opens up potential synergies for combined development scenarios, creating operational efficiencies and cost advantages that could significantly enhance project economics.

The Project is located just 8km from the Yambat (Oval Cu-Ni-PGE) Project, complements our existing asset base and provides an exciting opportunity to unlock value and synergy for potential future combined development.

— Gan-Ochir Zunduisuren, Managing Director

Parallel Development at Yambat Project

While Maikhan Uul takes centre stage, the company is simultaneously advancing its Yambat Project with complementary activities planned for the same timeframe:

Geophysics Program (April-June 2026):

• 3D induced polarisation (3DIP) survey over Copper Ridge Prospect

• Regional geophysical surveys across multiple targets

• Advanced electromagnetic surveys to refine drilling targets

Phase 4 Drilling Campaign (May-July 2026):

• Testing of updated electromagnetic plates

• Scout drilling at Copper Ridge Cu-Au prospect

• Evaluation of constrained geophysical models

Understanding Induced Polarisation Surveys: The Technology Behind the Discovery

For investors new to mineral exploration, Induced Polarisation (IP) surveys represent one of the most effective geophysical techniques for identifying mineral deposits beneath the surface. In addition, this method works by injecting electrical current into the ground and measuring how different geological materials respond.

Why IP Surveys Matter for Investors:

• They can detect sulphide minerals associated with copper and gold deposits

• Results help optimise drilling locations, reducing exploration costs

• IP signatures often indicate the presence of economic mineralisation

• The technology significantly increases the probability of drilling success

The planned 3DIP survey at Maikhan Uul, scheduled for May 2026, will provide three-dimensional imaging of the subsurface. Consequently, this allows geologists to build detailed models of potential ore bodies before committing to expensive drilling programs.

How the Technology Works

When electrical current flows through rock formations, different minerals respond in distinct ways. Sulphide minerals, which often accompany copper and gold deposits, create measurable electrical signatures that can be detected and mapped.

The "3D" aspect of the planned survey means geologists will receive a complete three-dimensional picture of subsurface geology, rather than just individual measurement points. However, this comprehensive approach requires significant technical expertise and specialised equipment to execute effectively.

Comprehensive Exploration Timeline Through Mid-2026

Asian Battery Metals has outlined a systematic approach to advancing both projects through the first half of 2026. Furthermore, activities are carefully sequenced to maximise discovery potential while managing costs effectively.

The metallurgical test work, to be conducted at ALS Laboratories in Perth following completion of drilling, represents a crucial step toward understanding how the project's minerals can be processed and refined. This critical information will inform future development economics and processing strategies.

Investment Thesis: Critical Metals in a Strategic Location

The Asian Battery Metals Mongolia acquisition positions the company at the intersection of two powerful investment themes: the global energy transition and Asia's growing mineral resource requirements. The company's focus on copper and gold in Mongolia places it in one of the world's most underexplored yet geologically prospective regions.

Key Investment Drivers:

• Copper demand growth driven by electrification and renewable energy infrastructure

• Gold's role as both an inflation hedge and industrial metal

• Mongolia's mining-friendly jurisdiction with established infrastructure

• Portfolio synergies between proximate projects reducing development costs

• Systematic exploration approach maximising discovery probability

The completion of the Maikhan Uul acquisition demonstrates management's ability to identify and secure strategic assets. In addition, the immediate commencement of drilling shows a commitment to rapid value creation for shareholders.

Mongolia's Strategic Advantages

Mongolia offers several advantages for mineral exploration and development companies. The country maintains established mining infrastructure, including rail links to major ports and processing facilities.

Regulatory frameworks support foreign investment in mineral exploration, while the geological prospectivity of the region has been demonstrated by numerous producing mines and advanced projects. Furthermore, the proximity of Asian Battery Metals' two projects creates potential operational synergies not typically available to single-project developers.

Shared infrastructure, combined logistics, and integrated development planning could reduce capital requirements and operational costs across both assets. However, investors should monitor how effectively management executes this integrated approach.

Market Context: Energy Transition Metals

The demand fundamentals for copper and gold continue to strengthen as global infrastructure transitions toward renewable energy systems. Copper serves as the backbone of electrical infrastructure, with electric vehicles requiring approximately four times more copper than conventional vehicles.

Wind and solar installations are also copper-intensive, requiring substantial quantities for power generation and transmission infrastructure. Gold maintains its traditional role as a store of value while also serving industrial applications in electronics and renewable energy technologies.

The combination of these metals in a single project area provides exposure to both defensive and growth-oriented commodity demand trends. Consequently, this strategic positioning enhances the long-term value proposition of the Asian Battery Metals Mongolia acquisition.

Demand Drivers:

• Electrification trends across transportation and industrial sectors

• Grid infrastructure expansion to accommodate renewable energy

• Data centre growth requiring significant copper for electrical systems

• Monetary policy uncertainty supporting gold demand

Why Investors Should Track Asian Battery Metals

The company's strategic approach to building a portfolio of complementary critical metal projects in Mongolia positions it as a compelling growth story in the resources sector. With drilling set to commence immediately and multiple catalysts planned through mid-2026, Asian Battery Metals offers investors exposure to discovery potential in one of Asia's most prospective mineral belts.

Key Tracking Points:

• Immediate drilling results from Maikhan Uul expected within weeks

• Metallurgical test work outcomes by mid-2026

• Portfolio synergy development between proximate projects

• Systematic exploration progress across both major projects

• Management's proven ability to identify and acquire strategic assets

The completion and settlement of the Maikhan Uul acquisition represents a key step in our growth strategy… We look forward to commencing our 2026 exploration activities very shortly and delivering results for our shareholders.

— Gan-Ochir Zunduisuren, Managing Director

Near-term Catalysts

The immediate drilling program at Maikhan Uul provides multiple catalysts over the coming months. RC drilling results targeting known gold mineralisation zones could confirm continuity and potentially expand resource estimates.

Diamond drilling of unexplored electromagnetic plates may identify new mineralisation zones, while surface sampling will help define the scale of surface mineralisation. The company's commitment to responsible exploration, working closely with local communities and stakeholders, adds an important ESG dimension that aligns with growing institutional investment criteria.

For instance, the systematic approach to exploration demonstrates technical competence whilst the proximity advantage of the two projects showcases strategic planning. However, execution remains key to converting these advantages into shareholder value.

Key Takeaway

The successful completion of the Asian Battery Metals Mongolia acquisition has positioned the company as a strategic player in Mongolia's critical metals sector, with immediate drilling catalysts and significant upside potential from portfolio synergies. With multiple exploration programs advancing simultaneously through mid-2026, investors should closely monitor this emerging story in the energy transition metals space.

The combination of immediate drilling catalysts, strategic asset positioning, and exposure to high-demand energy transition metals creates a compelling investment proposition. Furthermore, the company's systematic approach to exploration and demonstrated ability to execute strategic acquisitions provides confidence in management's capacity to deliver value for shareholders.

Could Asian Battery Metals Be Your Next Strategic Investment Opportunity?

With drilling commencing this week at the newly acquired Maikhan Uul Copper-Gold Project and multiple exploration catalysts planned through mid-2026, Asian Battery Metals (ASX: AZ9) presents a compelling opportunity for investors seeking exposure to critical energy transition metals. The company's strategic positioning in Mongolia's prospective mining belt, combined with the potential synergies from its proximate project portfolio, offers significant upside potential as global demand for copper and gold continues to strengthen. To explore the full investment proposition and discover how Asian Battery Metals is advancing its systematic exploration strategy across both the Maikhan Uul and Yambat projects, visit www.asianbatterymetals.com for comprehensive company information and the latest project developments.