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.

Arizona Sonoran Copper Company (TSX:ASCU | OTCQX:ASCUF) reported successful exploration drilling at the NE Extension, confirming 990.7 ft (302 m) of continuous copper mineralization with an average of 0.42% CuT. This drilling is part of a broader project targeting the Cactus Mine Trend, with a budget of $0.9 million for 2023 specifically for the Gap Zone and NE Extension. Notable infill drilling at Cactus East also yielded high-grade copper results. The company expresses confidence in the potential of these zones, identifying them as excellent targets for further exploration.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) is hosting a live Town Hall Forum on March 21, 2023, at 11:00 am EDT. The event will feature an update from President and CEO George Ogilvie regarding strategic milestones and work programs, including advancements in metallurgy and initial reserve declarations for the Parks/Salyer and Cactus Mine Projects. A live Q&A session will follow the presentation, allowing shareholders to engage directly with management.

To register, please use the registration link.

Arizona Sonoran Copper Company (ASCUF) has appointed Ausenco as the lead engineering firm for the Cactus & Parks/Salyer Integrated Pre-Feasibility Study (PFS), expected by early 2024. The PFS aims to evaluate expanding copper production through heap leach and SXEW methods. Victor Moraila has been appointed as Chief Engineer, bringing 18 years of operational experience. The project, situated near Phoenix, focuses on a local procurement strategy. The PFS will analyze multiple mineral sources, aiming for a production target of 50,000 tons of LME Grade A Copper Cathode. The anticipated completion of this study is projected for the fourth quarter of 2023.