Arizona Sonoran Receives its Mined Land Reclamation Permit

Rhea-AI Summary

Arizona Sonoran Copper Company (TSX:ASCU | OTCQX:ASCUF) announced the receipt of the Mined Land Reclamation Permit (MLRP) for its Cactus Mine Project, a crucial step in the mining operation's regulatory process. This permit was granted by the Arizona State Mine Inspector's Office, following the company's application in December 2022. The approval reflects the company's commitment to safe and responsible mining practices. The MLRP ensures financial assurance for the reclamation of the mining site post-operations. With major permits in hand, ASCU is moving forward with its goal of developing the Cactus Project into a mid-tier copper producer.

Positive

• Receipt of the Mined Land Reclamation Permit, crucial for financial assurance post-mining operations.
• Approval reflects timely regulatory support, enhancing confidence in project development.
• Possession of major permits including Aquifer Protection and Dust Control permits, facilitating progress on the Cactus Project.

Negative

• None.

CASA GRANDE, Ariz. & TORONTO--(BUSINESS WIRE)-- Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) today announces the receipt of the Mined Land Reclamation Permit (“MLRP”) from the Arizona State Mine Inspector’s Office for the Cactus Mine Project following the Company’s application in December of 2022. The MLRP is the primary financial assurance document requiring the operator to bond for the full reclamation of the property after mining operations have concluded.

Travis Snider, ASCU VP Sustainability and External Relations commented, “We received notification of the permit being administratively accepted in December. We are thrilled to have received the MLRP within three and a half months. This is a reflection of the accountability and professionalism at the Arizona State Mine Inspector’s Office. Along with the other state and county agencies, these timely approvals continue to give us the confidence about our efforts to redevelop the Sacaton Mine into the Cactus Project. All of these agencies have been instrumental in our success.”

The MLRP is a state-level permitting process that governs mine sites and ensures measures will be taken to achieve stability and safety, consistent with post-mining land use objectives specified in the reclamation plan. Changes to site operations plans, such as those defined in the operation’s Prefeasibility Study may require an amendment to the MLRP.

Current major permits in hand include:

• Aquifer Protection Permit and Stormwater Pollutant Prevention Permit issued by the Arizona Department of Environmental Quality;
• Entitled Water Rights administered by the Arizona Department of Water Resources;
• Dust Control permitting issued by the Pinal County Air Quality Department; and
• General Planning & Zoning Amendment approvals by the City of Casa Grande.

The Industrial Air Permit, currently under review by the Pinal County Air Quality Department, is the sole remaining major permit ahead of additional construction and development permits needed to execute for the Cactus Project.

Neither the TSX nor the regulating authority has approved or disproved the information contained in this press release.

About Arizona Sonoran Copper Company (www.arizonasonoran.com | www.cactusmine.com)
ASCU’s objective is to become a mid-tier copper producer with low operating costs and to develop the Cactus and Parks/Salyer Projects that could generate robust returns for investors and provide a long term sustainable and responsible operation for the community and all stakeholders. The Company's principal asset is a 100% interest in the Cactus Project (former ASARCO, Sacaton mine) which is situated on private land in an infrastructure-rich area of Arizona. Contiguous to the Cactus Project is the Company’s 100%-owned Parks/Salyer deposit that could allow for a phased expansion of the Cactus Mine once it becomes a producing asset. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America complemented by global capital markets expertise.

Forward-Looking Statements
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of ASCU to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, projected cash operating costs, failure to obtain regulatory or shareholder approvals.

Although ASCU has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and ASCU disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230403005295/en/

For more information

Alison Dwoskin, Director, Investor Relations

647-233-4348

adwoskin@arizonasonoran.com

Adam Hawkins, Local Media and Government Relations

520-689-5022

ahawkins@globalexternal.com

George Ogilvie, President, CEO and Director

416-723-0458

gogilvie@arizonasonoran.com

Source: Arizona Sonoran Copper Company Inc.

FAQ

What is the significance of the Mined Land Reclamation Permit for ASCU?

The Mined Land Reclamation Permit is essential for Arizona Sonoran Copper Company as it provides financial assurance for the reclamation of the Cactus Mine site after mining ends, crucial for compliance and future operations.

When did ASCU apply for the Mined Land Reclamation Permit?

Arizona Sonoran Copper Company submitted its application for the Mined Land Reclamation Permit in December 2022.

How does the MLRP impact the Cactus Mine Project?

The MLRP facilitates the transition into the next phases of development for the Cactus Mine Project, ensuring adherence to environmental and safety regulations.

What major permits does ASCU currently hold?

ASCU currently holds major permits including the Aquifer Protection Permit, Stormwater Pollutant Prevention Permit, and Dust Control Permit among others, necessary for advancing the Cactus Mine Project.

What is Arizona Sonoran Copper Company's goal regarding its mining projects?

Arizona Sonoran Copper Company aims to become a mid-tier copper producer, focusing on low operating costs and sustainable development of its Cactus and Parks/Salyer Projects.