TORONTO, ON — February 18, 2026 — Leads & Copy — Pasinex Resources Limited (CSE:PSE)(FSE:PNX) announced its financial results today for the three and twelve months ending December 31, 2025, highlighting a year focused on structural transformation and asset consolidation.
Pasinex achieved 100% ownership of Horzum A.Ş., an exploration and mining company, and the operator of the Pinargozu high-grade zinc mine in Türkiye. The company also completed the acquisition of Aydın Teknik A.Ş., an exploration and mining company that owns the Sarıkaya Group IV lead zinc license. This added a second high-grade zinc asset in Türkiye, and Pasinex simplified its corporate structure and strengthened operational control.
The milestones mark a decisive shift from a joint venture structure to full ownership and control of the company’s core producing asset. The company changed its financial year end from December 31 to March 31 to better align its reporting cycle with industry peers. Audited financial statements for the fifteen-month transitional period ending March 31, 2026, will be filed. The next fiscal year will cover the twelve-month period from April 1, 2026, to March 31, 2027.
For the three months ended December 31, 2025, Pasinex recorded a net loss of $1.8 million, compared to a net loss of $2.4 million in Q4 2024. The company recorded a net loss of $3.0 million for the twelve months ended December 31, 2025, compared to $2.7 million for the year ended December 31, 2024.
Several factors impacted the annual result, most notably an equity loss from Horzum in 2025 versus an equity gain in 2024, while Horzum still remained under trustee management; elevated professional, legal and administrative expenses related to the acquisition of 100% of Horzum and the completion of the Sarıkaya transaction; and higher interest expense. A significant portion of the increased legal and administrative costs were associated with the strategic transactions and corporate restructuring activities, which are non-recurring. Management expects general and administrative expenses to normalize relative to 2025 levels, positioning the company for improved cost discipline going forward, now that the consolidation of ownership is complete and corporate restructuring is largely finalized.
Pasinex completed the acquisition of the remaining 50% interest in Horzum A.Ş. on December 29, 2025. The company, through its wholly owned subsidiary Pasinex Arama ve Madencilik A.Ş., now holds 100% ownership of the Pinargozu high grade zinc mine, and Horzum is fully consolidated in Pasinex’s financial statements effective year end 2025. Full ownership provides complete operational and strategic control, direct exposure to production performance, and simplified financial reporting. Pinargozu remains one of the highest-grade zinc operations in the world.
Pasinex completed the acquisition of Aydın Teknik A.Ş., the holder of the Sarıkaya Group IV lead zinc operating license in Kayseri Province, Türkiye, in December 2025. Of the USD 2,600,000 purchase price, USD 1,350,000 has been paid, with the remaining balance of USD 1,250,000 payable in installments through June 2027. Upon full payment and production, an 8% NSR on zinc sulphide and 5% NSR on zinc carbonate will apply. Sarıkaya represents a strategic addition to Pasinex’s high grade zinc portfolio in Türkiye.
Pasinex is focused on building a high-grade zinc mining company through the acquisition and development of zinc deposits in Türkiye and Nevada, with grades ranging from 30% to 50% zinc in Türkiye and 14% to 24% in Nevada. The deposits offer intrinsic value, cost profiles, and the potential for operating margins due to low mining costs and near surface access. With the achievement of full ownership at Pinargozu and the acquisition of the Aydin Teknik position, the company can advance a portfolio of high-grade zinc assets in a well-established mining jurisdiction. Pasinex believes it is positioned to benefit from long-term structural demand fundamentals while continuing to pursue growth opportunities, as zinc is recognized as a critical metal and primary supply is constrained by limited recycling rates.
According to Dr. Larry Seeley, Executive Chair of Pasinex, 2025 was a defining year for Pasinex. The company transitioned to full ownership of its producing asset at Pinargozu and secured a second high-grade zinc project at Sarıkaya. These actions are expected to strengthen the asset base and position the company for the next stage of growth. The financial statements, management’s discussion and analysis (MD&A), and related certifications are available on SEDAR+ and at www.pasinex.com
Jonathan Challis, a Fellow of the Institute of Materials, Minerals and Mining and a Chartered Engineer, is the Qualified Person as defined by NI 43-101 for all information in this news release, excluding information relating to the Gunman Project. Mr. Challis has reviewed this news release and has approved the scientific and technical information provided herein. Mr. Challis is a Director of the Company and Chair of Pasinex Arama.
Pasinex Resources Limited is a zinc-focused mining company based in Toronto, Canada. Its subsidiary, Horzum A.Ş owns and operates the Pinargözü high-grade zinc mine in Türkiye. Pasinex owns 100% of Sarıkaya Group IV lead-zinc operating license in Kayseri Province, Türkiye and holds a 51% interest in the Gunman Project, a high-grade zinc exploration project located in Nevada.
Led by a management team with experience in mineral exploration and mine development, Pasinex’s mission is to explore and extract high-grade material, driving growth and creating value for shareholders, employees, and local communities, while maintaining safety, health, and environmental responsibility.
Source: Pasinex Resources Limited
