ARIZONA SONORAN COPPER CO - ASCUF STOCK NEWS

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.

Arizona Sonoran Copper Company (TSX:ASCU | OTCQX:ASCUF) has filed a technical report for its Cactus Project NI 43-101 Preliminary Economic Assessment (PEA). The PEA outlines a 31-year mine life with an average annual production of 86,000 short tons (172 million pounds) of copper through open pit heap leaching. Key highlights include:

- Post-tax NPV8 of US$2.03 billion
- Internal Rate of Return (IRR) of 24%
- Payback period of 4.9 years
- Initial capital investment of $668 million
- Life of Mine (LoM) Gross Revenue of $20.8 billion
- Cash costs (C1) of $1.82/lb and All-in Sustaining Costs (AISC) of $2.00/lb

The PEA supersedes the previous Pre-Feasibility Study and demonstrates the project's potential in various copper price environments.

Arizona Sonoran Copper Company announced the results of an NI 43-101 Preliminary Economic Assessment (PEA) for its 100%-owned Cactus Project in Arizona. The PEA reports a post-tax Net Present Value (NPV) of $2.03 billion and an Internal Rate of Return (IRR) of 24%. The Life of Mine (LoM) EBITDA is $11.29 billion, with a payback period of 4.9 years.

The project is expected to produce 5.34 billion pounds of copper over a 31-year mine life, with an average annual production of 232 million pounds for the first 20 years. Cash costs are projected at $1.82 per pound, with All-in Sustaining Costs (AISC) at $2.00 per pound.

The PEA marks a transition to open pit operations, estimating a total of 889 million tons of processed material with a 94% contribution from open pit mining. The PEA supersedes the earlier Pre-Feasibility Study and integrates new resources, enhancing the project's economic and operational metrics.

Expected initial capital expenditure is $668 million, with sustaining capital at $1.17 billion. The company plans to file a technical report within 45 days of the PEA release.

Arizona Sonoran Copper Company has released an updated Mineral Resource Estimate (MRE) for its Cactus copper project in Arizona. Key highlights include:

• Total Measured & Indicated resources of 632.6 million short tons at 0.58% copper, containing 7.3 billion pounds of copper
• Inferred resources of 474.0 million short tons at 0.41% copper, containing 3.8 billion pounds of copper
• Parks/Salyer deposit now amenable to open pit mining
• 1,904% increase in Measured category resources
• 26% increase in total Measured & Indicated resources
• 60% increase in Inferred resources

The updated MRE incorporates results from recent drilling at the MainSpring property. It will form the basis for an upcoming Preliminary Economic Assessment, expected in early Q3 2024.