Arizona Sonoran Copper Company Inc. Updates on PFS Workstreams At the Cactus Project

Published: 2025-05-08 06:30:00 ET ASCU.TO

Published on 05/08/2025 at 06:30, updated on 05/08/2025 at 07:50

Arizona Sonoran Copper Company Inc. provided an update on key workstreams associated with advancing the 2024 Preliminary Economic Assessment ("2024 PEA") to Pre-feasibility Study ("PFS"). Activities in 2025 are set to derisk the Cactus Project as move through the technical studies and to an eventual construction decision post-definitive feasibility study next year. Key workstreams: The PFS work and workstreams are on track for issuing in 2H2025; Engineering; Hydrology - Vibrating wireline piezometers have been installed in eight drillholes; ground water data is being collected to facilitate the ongoing hydrologic model; Geotechnical drilling is complete and test work and final analysis is pending; Base case mine planning well underway with varying opportunities to improve Project economics; Earthworks and trial excavation of the Cactus West pit using a surface continuous miner; Metallurgy - completed columns to date indicate Parks/Salyer (including MainSpring) metallurgy positively correlates with 2024 PEA results.

Results to analyze the usage of pit lake solution within the PFS flow sheet; Drilling - 65% complete, with final results expected in July; Land use management - Pinal County has selected Cactus' stockpiled alluvium for use as road construction material. In March, a total of 11,000 cubic yards of alluvium was moved offsite for use in road improvement and construction within the local community. Drilling - The 130,000 ft (39,600 m) infill drilling is on track for planned issuance of a Mineral Resource Estimate ("MRE") update and disclosure of PFS results in 2H2025.

Drilling with three rigs at Parks/Salyer and one at Cactus West, is 67% complete, with 27% of assays reported; all drilling is expected to be complete in June with all results expected in this summer. While many assay results from infill drilling program at Parks/Salyer remain pending, the geology and assay results received to date are consistent with expectations. The column results are assessed based on a "heap efficiency factor", which is the relationship of column test results to operational results.

She has reviewed, approved and verified the metallurgical information disclosed in this news release, including preliminary, analytical and test data underlying the technical information.