Asian Battery Metals Discoveries in Mongolia Expand Copper-Nickel Mineralisation

Latest Developments in Mongolian Copper-Nickel Exploration

Asian Battery Metals discoveries in Mongolia continue to demonstrate the significant potential of the region's critical mineral resources, with the company's latest exploration results from the Oval Cu-Ni-PGE project delivering another impressive round of high-grade intersections. The 2025 exploration program has achieved a remarkable 60% extension of the Oval mineralisation, bringing the total strike length to an impressive 880 metres and positioning this project as an increasingly compelling exploration story in the battery metals sector.

Furthermore, the systematic approach to exploration has not only confirmed southern extensions of the mineralised zone but also revealed new geophysical targets that could substantially increase the project's footprint. This expansion, combined with new high-grade intersections and the identification of additional intrusive targets, demonstrates the evolving scale of what's shaping up as a significant copper-nickel discovery in Mongolia's proven mining jurisdiction.

Outstanding Drilling Results Extend Mineralised Zone

The Phase 3 drilling program has delivered standout intersections that confirm both the southern extension and width potential of the Oval discovery. These results validate the company's geological model and demonstrate that high-grade mineralisation extends well beyond the original discovery zone.

Drillhole OVD049 proved particularly significant, intersecting 23.1 metres of mineralised intrusion and confirming a pathway for southeastern extension. The hole returned impressive grades including 16.8m @ 0.39% Cu, 0.41% Ni from 155.3m depth, with a spectacular high-grade core of 1.9m @ 1.03% Cu, 1.33% Ni from 168.3m.

Consequently, Drillhole OVD051 provided crucial width extensions at North Oval, delivering 9.3m @ 1.06% Cu, 0.48% Ni from 108.2m, including an exceptional 3.8m @ 1.46% Cu, 0.66% Ni from 112.0m depth. These intersections demonstrate both the consistency and grade potential of the mineralised system.

Note: E3 represents combined precious metals (Au+Pt+Pd)

In addition to confirming the geological continuity, these results open up significant exploration potential and suggest the presence of multiple high-grade zones within the broader mineralised system.

Advanced Geophysical Work Reveals Substantial New Targets

Perhaps equally exciting as the drilling results is the sophisticated geophysical work that has identified substantial new exploration targets. Reprocessing of Fixed-Loop Electromagnetic (FLEM) survey data has refined the interpretation of conductive plates, whilst new magnetic inversion modelling has delineated MS4, an additional large geophysical anomaly interpreted as a potential intrusive body.

The MS4 prospect sits approximately 1,400 metres northeast of the main MS1 prospect and extends to depths of approximately 850 metres. This discovery suggests the presence of a broader intrusive cluster that could host additional battery metals exploration opportunities throughout the project area.

Key Geophysical Achievements

The comprehensive geophysical program has delivered impressive technical results that significantly expand the exploration potential:

• Reprocessing identified 19 modelled conductive plates with conductivity of 3,000-30,000 siemens
• Ground magnetic surveys covered 300 hectares in the MS1 area
• New magnetic inversion extends MS1 prospect to 850 metres vertical depth
• MS4 prospect identified with similar magnetic characteristics to MS1

However, the significance extends beyond individual targets, as the geophysical work suggests a much larger mineralised system than originally envisaged. This positions the project for potential step-change growth in resource definition and exploration success.

Understanding Magmatic Copper-Nickel Deposits

For instance, magmatic copper-nickel-PGE deposits represent some of the most sought-after exploration targets globally due to their potential scale and grade characteristics. These deposits form when magma rich in metals cools and crystallises, concentrating copper, nickel, and precious metals in specific zones within intrusive bodies.

The geological setting of Asian Battery Metals discoveries in Mongolia fits the classic model of Central Asian Orogenic Belt deposits, which have produced some of the world's major copper-nickel mines. Furthermore, the presence of platinum group elements (PGEs) adds additional value potential to any future resource development.

Why This Matters for Investors

The discovery's characteristics present several compelling investment considerations:

• Scale Potential: Magmatic deposits typically contain large tonnages with predictable metallurgy
• Strategic Commodities: Copper and nickel are critical for renewable energy infrastructure and electric vehicle supply chains
• Jurisdictional Stability: Mongolia's mining-friendly jurisdiction provides stable operating conditions
• Resource Profile: The discovery's scale and grade profile suggest potential for significant resource definition

Moreover, the systematic exploration approach and technical excellence demonstrated in the geophysical and drilling programs provide confidence in the company's ability to advance the project through key development milestones.

Strategic Expansion Through Maikhan Uul Acquisition

Beyond the Oval project advances, Asian Battery Metals is conducting comprehensive due diligence on the Maikhan Uul Cu-Au project, which could significantly expand the company's Mongolian footprint. This potential acquisition demonstrates management's strategy of building a substantial critical minerals portfolio in a proven mining jurisdiction.

The technical and legal due diligence process is underway, with rock chip sampling planned upon successful completion. Consequently, this acquisition could provide additional near-term exploration catalysts while diversifying the company's commodity exposure to include gold alongside the existing copper-nickel focus.

For instance, the strategic rationale includes accessing additional prospective ground, expanding the resource pipeline, and leveraging existing Mongolian infrastructure and relationships. This approach demonstrates management's commitment to building a substantial regional presence in the battery metals sector.

Ambitious 2026 Exploration Pipeline

The company has outlined an ambitious exploration program for 2026 that builds systematically on the strong foundation established in 2025. However, the scale and scope of planned activities reflect the expanded target inventory and proven success of the exploration methodology.

Immediate Priorities for 2026

1. Phase 4 drilling program – Planning and permitting underway for Q1 2026 commencement
2. Constrained geophysical modelling incorporating detailed rock physical properties
3. MS4 prospect assessment including potential maiden drilling programs
4. Maikhan Uul integration subject to successful acquisition completion

Furthermore, the 2025 program totalled 40 drillholes for 7,434 metres of drilling, demonstrating the company's commitment to systematic exploration. With the mineralised zone now extending over 880 metres of strike length and multiple new targets identified, the 2026 program is positioned to potentially define the first resource at Oval.

In addition, the sophisticated approach to target generation through advanced geophysical techniques provides multiple vectors for discovery success beyond the immediate Oval deposit area.

Managing Director's Perspective

"In 2025, the Company delivered very positive results, including a 60% extension of the Oval Cu-Ni-PGE mineralisation… We look forward to the 2026 exploration program to further unlock copper mineralisation and advance the potential for a future resource definition." – Gan-Ochir Zunduisuren

Investment Thesis: Critical Minerals Discovery in Prime Location

Asian Battery Metals discoveries in Mongolia present a compelling exploration story underpinned by several key investment factors that distinguish the opportunity in the competitive critical minerals sector. The combination of proven discovery success, expanding resource potential, and strategic positioning creates multiple value inflection points for investors.

Discovery Scale and Quality

The Oval Cu-Ni-PGE deposit has demonstrated consistent growth from initial discovery to an 880-metre strike length with confirmed high-grade zones and clear expansion potential. However, the technical quality of intersections and systematic nature of mineralisation provide confidence in future resource definition success.

Strategic Location Advantages

Mongolia's established mining industry, proximity to Asian markets, and government support for foreign investment provide an optimal operating environment. Furthermore, the country's mining infrastructure and experienced workforce support efficient project development and operational execution.

Critical Minerals Focus

Consequently, copper and nickel demand continues to grow driven by renewable energy transition, with supply constraints supporting strong long-term pricing fundamentals. The strategic importance of these commodities to energy transition technologies creates compelling investment dynamics.

Technical Excellence and Management Track Record

The sophisticated geophysical and drilling programs demonstrate a systematic approach to exploration, with multiple discovery vectors being pursued simultaneously. For instance, the team's local expertise and relationships in Mongolia provide significant advantages for project advancement and potential development scenarios.

Moreover, the company's technical achievements in 2025, including the 60% extension of mineralisation and identification of new targets like MS4, demonstrate operational excellence and geological understanding that supports continued exploration success.

Why Investors Should Monitor This Opportunity

The combination of proven discovery success, expanding resource potential, and strategic positioning in critical minerals makes Asian Battery Metals increasingly compelling for investors seeking exposure to the energy transition. However, several specific factors distinguish this opportunity in the competitive exploration sector.

The company has successfully demonstrated that Asian Battery Metals discoveries in Mongolia represent not isolated occurrences but rather part of a broader mineralised system. With the identification of MS4 and potential for additional targets, the project's scale could grow substantially beyond current parameters.

Multiple Value Catalysts Approaching

The upcoming 2026 exploration program promises multiple catalysts that could drive significant value appreciation:

• Phase 4 drilling results expected Q1 2026 with potential for resource definition
• MS4 prospect assessment outcomes and potential maiden drilling
• Maikhan Uul acquisition completion and exploration integration
• Resource estimation progress at the expanded Oval project
• Additional target generation from ongoing advanced geophysical work

Furthermore, the systematic approach to exploration and proven track record of extending mineralisation provide confidence in the company's ability to deliver consistent exploration success and value creation.

Key Investment Tracking Points

For investors considering exposure to this opportunity, several key milestones and developments warrant close monitoring:

Near-Term Catalysts:

• Phase 4 drilling program commencement and results
• MS4 prospect assessment and potential drilling outcomes
• Maikhan Uul acquisition completion and integration plans
• Resource definition studies and potential maiden resource estimates

Medium-Term Developments:

• Expanded drilling programs across multiple targets
• Metallurgical testing and processing route evaluation
• Strategic partnership discussions and corporate development activities
• Regional exploration expansion and additional project acquisitions

Investment Conclusion

Asian Battery Metals has positioned itself as a leading copper-nickel explorer in Mongolia, with proven discovery success and expanding resource potential. The 60% extension achieved in 2025, combined with new target identification and upcoming resource definition work, creates multiple value inflection points for 2026 and beyond.

However, investors should recognise that exploration success requires sustained technical excellence, adequate funding, and favourable market conditions. The company's demonstrated track record and strategic positioning provide confidence in its ability to navigate these challenges whilst delivering shareholder value through systematic resource development and discovery success.

Could This Be Your Next Strategic Investment Opportunity?

With the Oval project now extended to 880 metres of strike length and multiple high-grade targets identified, Asian Battery Metals is positioning itself as a significant player in Mongolia's critical minerals sector. The upcoming 2026 exploration programme promises multiple catalysts, from Phase 4 drilling results to potential resource definition at the expanded Oval project. For investors seeking exposure to the energy transition through proven copper-nickel discoveries in a mining-friendly jurisdiction, now is the time to conduct your due diligence. Visit www.asianbatterymetals.com to explore the company's full project portfolio, review technical reports, and understand how these developments could position the company for substantial growth in the critical minerals space.