ARIZONA SONORAN COPPER CO - ASCUF STOCK NEWS

Arizona Sonoran Copper Company Inc. provides an update on metallurgy and improvements to the TruStone Facility. The 90-day Stockpile oxide cycle is complete with 90% recoveries. Preliminary results from the Parks/Salyer enriched columns show approximately 80% recovery. TruStone Facility refurbishment is near completion, accommodating 12 metallurgical columns and a core storage facility. Hydrodynamic testing supports multi-lift leach pads.

Arizona Sonoran Copper Company (ASCUF) has announced significant progress in its pre-feasibility study (PFS) at the Parks/Salyer site with the completion of 6 infill drill holes. This drilling program was completed on time and budget, with results aiding the development of an updated resource model and mine plan, aiming for the declaration of first reserves by Q1 2024. The PFS explores an integrated operation targeting an annual production of 50,000 tonnes. Results include notable mineralization with ECP-131 demonstrating 1,209.7 ft at 0.70% CuT. The project’s focus now shifts to feasibility drilling, with additional geotechnical and hydrological studies planned. The company’s drilling efforts have confirmed a continuous deposit with enriched mineralization indicating potential for bulk mining.

Arizona Sonoran Copper Company (ASCU) has closed a non-brokered private placement financing, with Nuton LLC exercising its pre-emptive rights to maintain a 7.2% ownership in the company. Nuton subscribed for 1,229,140 common shares at C$2.00 each, raising gross proceeds of C$2,458,280. This follows ASCU's earlier C$30 million bought deal public offering. The shares are subject to a hold period until August 1, 2023, pending approval from the Toronto Stock Exchange. Nuton employs proprietary copper leach technologies to enhance copper recovery and is currently testing mineralized samples from ASCU's Cactus and Parks/Salyer Projects.

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.

Arizona Sonoran Copper Company (TSX: ASCU | OTCQX: ASCUF) continues its promising drilling at the Parks/Salyer Project, showcasing grades and thicknesses favorable for an underground operation. Recent assays from nine infill drill holes indicate significant mineralization, with 45 of the planned 46 infill holes completed. Key highlights include notable grades such as 546.5 ft at 1.14% CuT and 2.31% CuT over 89.9 ft. The pre-feasibility study is expected by Q1 2024, with plans for further drilling to upgrade resources to measured categories. This strategic advancement comes just two years after initial drill results, marking significant progress in resource declaration.