Askari Metals Advances Nejo Drilling Plans and Expands Critical Metals Targets at Uis

Nejo Project Poised for Maiden Drilling Campaign

Askari Metals Limited (ASX:AS2) is preparing to kick off its maiden drilling program at the Nejo Gold-Copper Project in Ethiopia, its flagship asset covering 1,174km² within the Arabian-Nubian Shield. The project lies strategically near the 1.7 million ounce Tulu Kapi Gold Mine and along strike from the 3.4 million ounce Kurmuk Mine, offering geological promise in a proven gold-copper corridor.

The upcoming drilling will focus on high-priority targets within the Guji–Gudeya corridor, including Guji, Komto 1, and Komto 2, which together form a 9-kilometre mineralised trend. The program aims to validate historical high-grade intersections, test mineralisation continuity, and define the geometry of the deposits. Additional targets across the Guliso Trend and the high-grade copper potential at Katta remain under technical review, underscoring the district-scale optionality of the Nejo landholding.

Stakeholder engagement continues to be a cornerstone of Askari’s approach, with ongoing dialogue with local communities and Ethiopian authorities to ensure exploration activities align with regulatory and social expectations. This operational readiness is expected to smooth the transition from historical exploration to systematic drill testing, setting the stage for potential value catalysts in the near term.

Uis Project Builds on Critical Metals Momentum

In Namibia, Askari’s Uis Project is advancing its critical metals strategy across a 380km² landholding adjacent to the operating Uis Tin Mine. The project offers exposure to tin, tantalum, lithium, caesium, and rubidium, minerals increasingly sought after for electronics and energy transition technologies.

During the quarter, the company reviewed and interpreted prior trenching, mapping, and sampling results, confirming high-grade tin and tantalum mineralisation across multiple pegmatite targets. Priority focus remains on the PS, DP, OP, and K9 pegmatite systems, with ongoing soil and stream sediment sampling designed to refine reverse circulation drilling targets.

Askari benefits from the project’s proximity to existing mining infrastructure, year-round road access, and the Walvis Bay deep-water port, which could facilitate future development. The company’s low-cost, high-impact field programs aim to expand the known mineralised footprint and underpin upcoming drilling campaigns.

Financial Discipline Amid Exploration Push

Askari maintained a disciplined capital allocation approach during the quarter, with exploration and evaluation expenditure totalling $121,000. Cash and cash equivalents stood at $256,000 at quarter-end, supplemented by $650,000 in listed securities available for sale. Additionally, an undrawn working capital facility of $350,000 remains available from Executive Director Gino D’Anna and related entities, with potential for increase subject to approvals.

No mining production or development activities occurred during the period, reflecting the company’s focus on exploration advancement. The company’s streamlined African portfolio offers shareholders exposure to a diversified suite of high-value commodities, including gold, copper, tin, tantalum, and other critical metals.

Upcoming Catalysts and Exploration News Flow

Askari’s forward work program is rich with catalysts: mobilisation and commencement of drilling at Nejo’s Guji–Gudeya corridor, ongoing geochemical and geophysical surveys across Nejo’s broader landholding, and advancing soil and sediment sampling at Uis to refine drill targets. Regular market updates are anticipated as these programs progress.

Executive Director Gino D’Anna highlighted the company’s positioning for a catalyst-rich period, stating that Nejo’s district-scale opportunity and Uis’s strategic critical metals exposure provide a strong platform for value creation. With multiple targets ready for drill testing and a clear exploration momentum, Askari aims to unlock significant shareholder value in the coming quarters.