ARIZONA SONORAN COPPER CO - ASCUF STOCK NEWS

Arizona Sonoran Copper Company Inc. reported the successful infill drilling results from its Parks/Salyer program, aimed at upgrading current inferred mineral resources to indicated. The program, comprising 105,000 ft of drilling, has seen 35 holes completed. Noteworthy assays include ECP-113 with 438.8 ft at 1.17% CuT and ECP-112 with 528.2 ft at 1.11% CuT. The company maintains a post-financing cash balance of US$31 million, supporting future developments. The results will contribute to the upcoming Preliminary Feasibility Study (PFS) for the Cactus Mine Project, with completion expected by March and all assays returned by Q2.

Arizona Sonoran Copper Company (TSX:ASCU | OTCQX:ASCUF) has successfully closed a bought deal financing, issuing 15 million common shares at C$2.00 each, totaling C$30 million. The underwriters led by Haywood Securities Inc. facilitated the transaction. The net proceeds will be allocated towards exploration and development of the Cactus Mine Project in Arizona and for general corporate purposes. Significant shareholder Tembo Capital acquired 2.83 million shares, reducing its stake from 34.5% to 32.3%. Additionally, Nuton LLC plans to maintain its 7.2% interest through a potential private placement.

Arizona Sonoran Copper Company (ASCU) has filed a preliminary short form prospectus for a bought deal offering of 15 million common shares at C$2.00 each, aiming for gross proceeds of C$30 million. The underwriting is led by Haywood Securities Inc., alongside several other firms. The offering awaits necessary regulatory approvals, including from the Toronto Stock Exchange. These securities will not be registered under U.S. Securities laws, hence cannot be sold in the United States. The company aims to become a mid-tier copper producer, focusing on its Cactus and Parks/Salyer projects, which are expected to provide robust returns for investors.

Arizona Sonoran Copper Company Inc. (ASCUF) reports 60% completion of its 105,000 ft infill drilling program at the Parks/Salyer deposit, near its Cactus Mine Project. A total of 27 holes have been drilled out of 46 planned, with assays for 15 holes confirming strong mineralization. Key results include ECP-108 with 872.5 ft at 1.64% CuT, and ECP-107 with 1,188.9 ft at 0.68% CuT. The drilling aims to upgrade the resource from inferred to indicated status, which will support future reserve definitions in the Preliminary Feasibility Study (PFS) expected late 2023 or early 2024.

Arizona Sonoran Copper Company (TSX:ASCU | OTCQX:ASCUF) has announced its 2023 work plan for the Cactus Property, incorporating the Cactus and Parks/Salyer Projects. Key activities include drilling, metallurgy, and technical studies, all feeding into a Prefeasibility Study (PFS) expected in 4Q23/1Q24. The drilling program aims for 195,000 ft of infill drilling, testing copper mineralization. Metallurgical programs are underway to optimize processes, while permitting efforts continue based on a 2021 Preliminary Economic Assessment.

Arizona Sonoran Copper Company (ASCU) announced updates on its metallurgical programs and key project management appointments. A new onsite metallurgical lab has been established to enhance testing efficiencies, with 8 of 12 columns currently testing leachability of enriched and oxide ore types. The company appointed Greg Phillips as Project Process Superintendent and Graeme Hendricks as Senior Mine Engineer to strengthen its project team. CEO George Ogilvie highlighted the increase in resource estimates to 1.6B lbs indicated and 4.9B lbs inferred, as ASCU focuses on advancing its Cactus Project towards feasibility studies.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) and the Arizona Department of Environmental Quality (ADEQ) received the 2022 Award for Environmental Excellence from the American Exploration & Mining Association. The award recognizes their efforts to revitalize the Cactus Mine in Arizona, which promises an economic impact exceeding $8.5 billion over 18 years. ASCU aims to minimize greenhouse gas emissions, striving for net zero copper production while advancing towards a construction decision for the Cactus Project.

Arizona Sonoran Copper Company (TSX:ASCU | OTCQX:ASCUF) announced results from its 105,000 ft infill drilling program at Parks/Salyer, revealing significant copper intersections. Notable highlights include ECP-106, which recorded 1,116.6 ft @ 1.22% CuT, the best result to date. The drilling aims to upgrade inferred resources to indicated status ahead of a Preliminary Feasibility Study anticipated by early 2024. The current inferred copper resource is estimated at 2.9 billion pounds, emphasizing the project's promising potential.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) has announced the filing of a technical report related to the Parks/Salyer Mineral Resource Estimate. This report highlights the significant size and scale of the resource, situated on private land in Pinal County, Arizona. The company is advancing its engineering work on a combined Prefeasibility Study for both the Parks/Salyer and Cactus projects. The report indicates a total leachable resource of 73,900 kt with a contained copper of 1,065,200 mm lbs among other metrics, emphasizing the project's potential for robust returns.