ARIZONA SONORAN COPPER CO - ASCUF STOCK NEWS

Arizona Sonoran Copper Company Inc. (ASCU) drills 13 infill holes at the Parks/Salyer deposit, demonstrating continuity of grade and mineralized widths. The drilling program aims to upgrade mineral resources to the measured category for a definitive feasibility study in late 2024.

Arizona Sonoran Copper Company Inc. will host a live VID Town Hall Forum on September 6, discussing completed initiatives and near-term catalysts, including the step up PFS in Q1 2024.

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.