Askari Metals (ASX:AS2) unlocks exploration upside at Nejo Gold and Copper Project in Ethiopia

Askari Metals (ASX:AS2) has commenced a regional exploration program at its 1,174km² Nejo Gold and Copper Project, located in central-western Ethiopia on the underexplored Arabian-Nubian Shield.

The campaign is focused on two extensive gold corridors, the Guliso and Guji-Gudeya Trends, which host multiple high priority, shallow gold targets with historical trenching and drilling results.

Initial efforts will concentrate on drill-ready targets at Guji, Komto 1 and Komto 2 within the Guji-Gudeya Trend, and high-grade showings at Soyoma, Dina, Chago and South Chago within the Guliso Trend.

Askari Metals is also evaluating high-grade copper potential at the Katta Target in the north-west of the project area.

Highlights:

• Regional fieldwork underway across 10km Guliso and 9km Guji-Gudeya gold corridors

• Drill program targeting Guji, Komto 1 and Komto 2 expected to commence Q4 2025

• Project surrounds 1.7Moz Tulu Kapi Mine and is on the same greenstone belt as the 3.4Moz Kurmuk Mine

• Historical data supports multiple high-grade gold and copper zones with limited modern follow-up

• Additional copper exploration planned at Katta Target

Executive Director Gino D’Anna said the program is designed to validate historical work and apply a more systematic approach to high-potential zones:

“Previous exploration identified high-grade mineralisation, yet lacked a coherent, modern strategy. That’s where we see a clear opportunity — by applying disciplined, data-driven exploration, we aim to rapidly advance these targets and unlock significant value.”

In the months ahead, Askari plans to finalise geophysical interpretations to better define mineralised trends, conduct detailed soil and rock sampling, and begin trenching across the main prospects.

Historical datasets will be used to refine targeting and support upcoming drilling, which is scheduled to commence later this year.

The Katta copper prospect will be assessed in parallel through a separate reconnaissance program, with the Nejo Project strategically located near major regional deposits and infrastructure.

With exploration now underway, Askari is seeking to progress toward establishing a JORC-compliant resource through systematic, phased development.

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