ARIZONA SONORAN COPPER CO - ASCUF STOCK NEWS

Arizona Sonoran Copper Company has received an amended Industrial Air Permit from Pinal County Air Quality Division for its Cactus Project. The project, based on a 2024 PEA, is expected to produce 116,000 short tons of copper cathode annually over the first 20 years of a 31-year mine life. Local polling shows 87% community support for the project, up from 82.6% in 2021.

The company plans to complete a new PFS in H2 2025, followed by a Definitive Feasibility Study in 2026. The project, situated entirely on private land, requires only state and local permits, with no federal permitting needed. The amended Aquifer Protection permit is currently under review by ADEQ.

Arizona Sonoran Copper Company has closed a non-brokered private placement with Nuton , a Rio Tinto Venture, raising C$3.1 million. The placement involves 2,151,259 common shares at C$1.45 per share, allowing Nuton to maintain its 7.2% ownership stake following ASCU's recent C$34.5 million bought deal offering. The parties extended the deadline for the Integrated Nuton Pre-Feasibility Study to December 31, 2025, with final filing due March 2, 2026. Tembo opted not to exercise its preemptive rights, maintaining its 24% ownership. ASCU plans to release its standalone Cactus PFS in H2 2025.

Arizona Sonoran Copper Company (TSX:ASCU | OTCQX:ASCUF) has appointed M3 Engineering to lead the Cactus Project Pre-Feasibility Study (PFS), expected to be completed in the second half of 2025. The study will focus on upgrading the Parks/Salyer deposit to PFS level, following its rescoping as an open pit mine in the August 2024 Preliminary Economic Assessment (PEA).

Upcoming workstreams include exploration and infill drilling, mine design and scheduling, and technical studies. The company will continue working with Nuton Technologies to develop an integrated PFS. Trade-off studies for optimization include in-pit crushing and conveying, adjusting the Parks/Salyer open pit location, primary sulphide extraction scenarios, and options to smooth cathode production over the mine's life.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) has successfully closed its previously announced public offering of common shares. The company issued 23,805,000 Common Shares, including 3,105,000 shares from the full exercise of the over-allotment option, at a price of C$1.45 per share. This resulted in aggregate gross proceeds of C$34,517,250.

The offering was conducted on a bought deal basis, with a syndicate of underwriters co-led by Raymond James and Paradigm Capital Inc. The net proceeds will be used for exploration and development at the Company's Cactus Mine Project in Arizona, as well as for general working capital and corporate purposes.

The Common Shares were offered via a short form prospectus in Canada (except Quebec) and through private placement in the United States. The offering remains subject to final approval from the Toronto Stock Exchange.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) has filed a final short form prospectus for its C$30,015,000 bought deal offering. The offering consists of 20,700,000 common shares at C$1.45 per share. An over-allotment option for up to an additional 15% of shares has been granted to the underwriters. The prospectus is available on SEDAR+ and through Raymond James The offering is subject to Toronto Stock Exchange approval.

The underwriting syndicate includes Raymond James and Paradigm Capital Inc. as co-lead underwriters and joint bookrunners, along with Canaccord Genuity Corp., Eight Capital, Haywood Securities Inc., Stifel Nicolaus Canada Inc., Scotia Capital Inc., and TD Securities Inc. The securities are not registered under U.S. securities laws and cannot be offered or sold in the United States without exemption.

Arizona Sonoran Copper Company (TSX:ASCU | OTCQX:ASCUF) has filed a preliminary short form prospectus for a C$30,015,000 bought deal offering of 20,700,000 common shares at C$1.45 per share. The company has granted underwriters an over-allotment option for an additional 15% of shares. The offering is led by Raymond James and Paradigm Capital Inc., with a syndicate including Canaccord Genuity Corp., Eight Capital, Haywood Securities Inc., Stifel Nicolaus Canada Inc., Scotia Capital Inc., and TD Securities Inc.

The offering is subject to regulatory approvals, including from the Toronto Stock Exchange. The securities will not be registered under U.S. securities laws and cannot be offered or sold in the United States without exemption from registration requirements.

Arizona Sonoran Copper Company (TSX:ASCU | OTCQX:ASCUF) has appointed Nick Hayduk as VP Corporate Development, General Counsel and Corporate Secretary, effective October 1, 2024. Hayduk brings over 23 years of corporate law experience, including 16 years in senior management roles at publicly traded mining companies. He will replace Rita Adiani, who is leaving the company after a two-week transition period.

CEO George Ogilvie expressed enthusiasm about reuniting with Hayduk, citing their successful collaboration at Battle North Gold. Hayduk's extensive experience in providing strategic and legal advice to established mining companies is expected to be valuable as Arizona Sonoran progresses through technical studies and towards final investment decision.

Hayduk's impressive career includes executive roles at Excellon Resources, Battle North Gold, Lundin Mining, Kinross Gold, Goldcorp, and Placer Dome. His expertise spans corporate governance, regulatory compliance, M&A transactions, public offerings, and various aspects of mining industry legal matters.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) held its annual and special meeting with 69.92% of issued and outstanding shares represented. Shareholders approved all proposed business items, including reappointing PricewaterhouseCoopers LLP as auditors, approving the equity compensation plan and advanced notice policy, and electing all director nominees. The director election was conducted by ballot, with all nominees receiving over 99% approval. David Laing, George Ogilvie, Isabella Bertani, Alan Edwards, Mark Palmer, and Sarah Strunk were elected to the board. The formal voting results will be filed on SEDAR+.

Arizona Sonoran Copper Company (TSX:ASCU | OTCQX:ASCUF) reports new drill results from its infill and step-out drilling program at the Cactus Project in Arizona. The drilling has expanded the primary sulphide zones by up to 500 ft (152 m) below known mineralization around the Cactus West pit. Key highlights include:

- ECW-256: 2,119 ft (646 m) @ 0.40% CuT of continuous mineralization
- ECW-258: 2,108 ft (643 m) @ 0.31% CuT of continuous mineralization
- ECW-260: 1,901 ft (579 m) @ 0.33% CuT of continuous mineralization

The program aims to support the expansion of primary sulphide mineralization and extend it laterally. Drilling shows that copper grades increase at depth in the primary zone near a barren potassic quartz monzonite porphyry unit. The company is preparing for an infill drilling program at Parks/Salyer to move into an indicated resource ahead of a new PFS next year.