ARIZONA SONORAN COPPER CO - ASCUF STOCK NEWS

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.

Arizona Sonoran Copper Company (TSX:ASCU | OTCQX:ASCUF) has scheduled its annual and special meeting of shareholders for 10:30 am Eastern Time on September 17, 2024. The meeting will be held in person at 100 King Street West, Suite 3400, Toronto, Ontario.

Shareholders are encouraged to attend as a corporate presentation by senior executives will follow. Details and the Notice of Meeting are posted on the ASCU SEDAR+ profile and the company's website. For those unable to attend, presentation materials will be available online post-meeting.

The TSX has granted an extension to the company to hold this meeting on or before September 17, 2024.

Arizona Sonoran Copper Company (TSX:ASCU | OTCQX:ASCUF) has announced new drilling results extending primary copper mineralization around the Cactus West Pit by 750 ft south and 500 ft southwest. The drilling program, part of the 2024 Nuton Work Program sponsored by Rio Tinto's Nuton , confirms significant primary sulphide intervals with highlights including 1,463 ft @ 0.31% CuT and 987 ft @ 0.34% CuT. The current drilling aims to further delineate mineralization beneath existing oxides and enriched sulphides, targeting untested areas to expand future opportunities. The results will not be included in the pending Preliminary Economic Assessment but indicate potential for increased copper resources.

The Cactus Project, including Parks/Salyer, holds substantial reserves, with Cactus West contributing 75.5 Mtons @ 0.26% Cu TSol and primary sulphide estimates of 72.9 Mtons @ 0.34% CuT M&I and 120.4 Mtons @ 0.34% CuT inferred.

Arizona Sonoran Copper Company (TSX: ASCU, OTCQX: ASCUF) has announced results from its infill drilling program at MainSpring, part of its Cactus Project in Arizona. The program aims to upgrade the mineral resource classification and support an open-pit design. Initial drilling results include 827 ft at 0.30% CuT, with detailed assays provided for multiple drill holes. The company plans to include these findings in a Preliminary Economic Assessment (PEA) due in Q3 2024. The study will incorporate Nuton Technologies' leaching methods to explore economic potential. The program is funded by ASCU and Nuton Technologies under a joint venture agreement. George Ogilvie, CEO, emphasized the potential to benefit from current copper market cycles and aims for a construction decision in the near term.

Arizona Sonoran Copper Company Inc. (ASCU) has reported the successful completion of its inferred drilling program on MainSpring, confirming the continuation of thick enrichment and the presence of enriched mineralization. The completion of the program extended mineralization over 2,500 ft x 3,000 ft within an interpreted horst block. An exploration of a new open pit within the property bounds around MainSpring within the PEA expected in Q3 2024 is planned.

Arizona Sonoran Copper Company Inc. (ASCUF) reports positive drilling results at MainSpring on its Cactus Project, Arizona, confirming near surface mineralization and extending the High Grade Mine Trend. The company plans a Preliminary Economic Assessment and further drilling to optimize operations and financials.

Arizona Sonoran Copper Company Inc. (ASCU) provides an update on positive land developments, including MainSpring and a new special land use permit. MainSpring's rezoning and consolidation around Cactus mine improve operational flexibility and access to mineralization. The company acquired the 523-acre MainSpring Property and completed rezoning to Industrial Use, Mining. ASCU also obtained a Section 2 special land use permit for future mine infrastructure. The press release highlights the company's progress and community support.

Arizona Sonoran Copper Company Inc. (ASCUF) completes NI 43-101 Prefeasibility Study for Cactus Project, outlining a top 10 potential copper operation in the USA with robust economics and long-term sustainability.