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

Published Date:2026-04-22