Faraday Copper Announces Closing of Mercer Ranch Acquisition at the Copper Creek Project in Arizona

Rhea-AI Summary

Faraday Copper Corp. has completed the acquisition of the Mercer Ranch land package in Arizona for US$10 million. This package encompasses approximately 6,000 deeded acres within a total of 32,000 acres of controlled ranch land. The acquisition is significant for advancing the company’s flagship Copper Creek project, one of North America's largest undeveloped copper resources with both open pit and bulk underground mining potential. Faraday is positioned well for development, supported by a seasoned management team and solid financial backing.

Positive

• Acquisition of Mercer Ranch land package enhances strategic positioning for the Copper Creek project.
• Total of 6,000 acres acquired could lead to improved resource estimates and potential revenue growth.
• Well-funded status indicates capability in pursuing future milestones.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / March 7, 2023 / Faraday Copper Corp. ("Faraday" or the "Company") (TSX:FDY) is pleased to announce it has closed the previously announced acquisition of the Mercer Ranch land package for US$10 million, consisting of approximately 6,000 deeded acres (private land) within 32,000 acres of controlled ranch land. For additional details see the Company's news release dated February 27, 2023.

About Faraday Copper

Faraday Copper is a Canadian exploration company focused on advancing its flagship copper project in Arizona, U.S. The Copper Creek project is one of the largest undeveloped copper projects in North America with open pit and bulk underground mining potential. The Company is well-funded to deliver on its key milestones and benefits from a management team and board of directors with senior mining company experience and expertise. Faraday trades on the TSX under the symbol "FDY".

For additional information please contact:

Stacey Pavlova, CFA
Vice President, Investor Relations & Communications
Faraday Copper Corp.
E-mail: info@faradaycopper.com
Website: www.faradaycopper.com

To receive news releases by e-mail, please register using the Faraday website at www.faradaycopper.com.

SOURCE: Faraday Copper Corp.

View source version on accesswire.com:
https://www.accesswire.com/742206/Faraday-Copper-Announces-Closing-of-Mercer-Ranch-Acquisition-at-the-Copper-Creek-Project-in-Arizona

FAQ

What is the purpose of Faraday Copper's acquisition of Mercer Ranch?

The acquisition aims to enhance the strategic positioning and resource potential of the Copper Creek project.

How much did Faraday Copper pay for the Mercer Ranch land package?

Faraday Copper paid US$10 million for the Mercer Ranch land package.

What are the implications of the Mercer Ranch acquisition for Faraday Copper's Copper Creek project?

The acquisition may lead to improved resource estimates and potential revenue growth for the Copper Creek project.

When was the Mercer Ranch acquisition announced?

The acquisition was announced on March 7, 2023.

How many total acres does the Mercer Ranch land package cover?

The Mercer Ranch land package consists of approximately 6,000 deeded acres within 32,000 acres of controlled land.