Casa Grande, TORONTO, Arizona / January 10, 2023 / Business Wire / Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or “Company”) today announced the 2023 Work Plan for Cactus Properties, which includes the Cactus and Parkes/Saylor (“P/S”) projects. All work flow this year will be incorporated into the Pre-Feasibility Study (“PFS”) scheduled for Q4 2023 and Q1 2024. This includes drilling, metallurgy, detailed engineering, permitting, and technical surveys, along with ongoing efforts to build on-site operations and technical teams.

Highlights of the 2023 Work Plan

• PFS is scheduled for Q4 2023/Q1 2024 after completion of infill, metallurgical, hydrology and geotechnical drilling, trade-offs and gap analysis.
• Drilling program for oxide and concentrated copper mineralization

  • Completed 105,000 ft (32,000 m) infill drilling program at Parks/Salyer (Q1 2023)
  • Completed a 90,000-foot (27,000 m) infill drilling program at the Cactus East and Parks/Salyer projects (Q2-Q4 2023) and 2024 Final Feasibility Study (“DFS”) requirements
  • Initiation of small-scale exploration program along the 4 km Mine Trend (Q1-Q3 2023)

• metallurgy

  • PFS and Definitive Feasibility Study (“DFS”) level test programs include at least 12 pillars 20 feet (6 m) high and constructed of materials from Stockpile, Parks/Salyer and Cactus deposits and separated into different rock types.Copper grades and mineralogy
  • An additional five columns, 30 feet (9 m) high, will be built and will be online in the first quarter of 2023.
  • Program completion expected in Q3 2023

• to approve

  • Full Cactus Permit under the 2021 Cactus Preliminary Economic Assessment (“PEA”)

• Primary sulfide upside

  • Cactus and Parks/Salyer testing columns for leachability of primary sulfide substances
  • The full impact of the success of Nuton technology in relation to Cactus and Parks/Salyer and/or its integration into technology research continues to be under consideration and will be determined by the outcome of the technical work and the commercial arrangements achieved.
  • Possibility of infill drilling primary sulfide materials with Cactus in relation to Nuton’s technical requirements

ASCU President and CEO George Ogilvy said:“This past year has been an important year in developing Cactus and demonstrating scalability through the addition of the Parkes/Saylor deposit, which has grown the Cactus project into the third largest independent copper project in the United States. team has advanced permits, conducted detailed engineering and welcomed Rio Tinto as a 7% shareholder, linked to Nuton technology testing key materials for previously stalled ASCU Our team continues to grow at the project level, finishing the year with 17 employees and 25 contract support staff and zero lost time incidents.

“Next year’s milestones will be the combination of the Cactus base-case leachate mining plan with new potential additions from the Parkes/Sarria deposits and primary sulfide options currently being tested with Rio Tinto’s Newton technology. Tied to integration.

“We also aim to do pure additional exploration drilling on unexplored land. Success with drill bits will allow us to create additional value.”

drilling

Drilling at Parks/Salyer is focused on completing drilling programs 250 feet (76 m) from the infill. The two drill rigs have completed the remaining 19 (47,000 ft | 14,350 m) of the planned 46-hole (105,000 ft | 32,000 m) program with final analysis expected in the second quarter. I’m here. All three drill rigs focus on the infill and engineering holes required to advance the Parkes/Saylor Project to PFS, including geotechnical and hydrological holes. The necessary cactus engineering excavations have already been completed.

Additional infill programs to the 125-foot (38 m) drill spacing at both Cactus and Parks/Salyer are ongoing in the second through fourth quarters within approximately 90,000 feet (27,000 m) of drilling. Drilling will move the resource classification into a measured category ahead of the Definitive Feasibility Study (“DFS”) scheduled for 2024.

A 20,000 ft (6,100 m) exploration program is being considered at the 4 km mine trend based on the results of ion leaching studies. This survey indicates the potential for additional mineralization in the ‘gap zone’ between Parkes/Sailor and Cactus West, and in the NE extension.

Further infill drilling related to primary sulfides at Cactus West should be considered in due course in light of its possible incorporation into Nuton technology and technology research.

Infrastructure improvements

Working at the brownfield site, ASCU continuously improves and upgrades past production projects. Projects planned for 2023 include:

• Connect electricity to field facilities, Trustone Metallurgical and Sample Lab.
• Upgrade Trustone to include a core shed

metallurgy

Metallurgical testing programs for PFS, DFS and Nuton are underway. ASCU is field-operating the first 12 columns of 20 feet (6 m). Material from the Stockpile, Cactus and P/S deposits has been classified into different rock types, copper grades and mineralogy for evaluation. Additional material from the Parks/Salyer metallurgical core drilling program was submitted to an external lab for crushing and preparation for the ongoing test program. Based on Cactus testing, Parks/Salyer is expected to follow similar timelines for a 90-day oxide leaching cycle and a ~200-day concentrate leaching cycle.

Five columns will be built 30 feet (9 m) high to test both oxide and concentrated materials from Parks/Salyer and Cactus. Additionally, Rio Tinto operates columns associated with his Nuton leaching technology. This includes oxide, concentrated and primary sulfide samples from both Cactus and Parks/Salyer, as well as the Stockpile and Tailings facilities.

to approve

Permits completed so far include water rights and access to water, SWPPP, among others. Pinal County and the Arizona Department of Mining are currently reviewing applications for industrial air quality permits and mining land reclamation permits. ASCU is fully licensed under the 2021 PEA of Cactus East UG and Stockpile. Once the PFS is complete, the ASCU will fix the relevant permits with the latest engineering.

Neither TSX nor any regulatory agency has endorsed or disproved the information contained in this press release.

About Arizona Sonoran Copper Company (www.arizonasonoran.com | | www.cactusmine.com)

ASCU’s objective is to become a medium-sized copper producer with low operating costs and a Cactus and To develop the Parks/Salyer project. Our primary asset is his 100% interest in the Cactus Project (formerly ASARCO, Sakaton Mine) on private land in an infrastructure rich area of ​​Arizona. Adjacent to the Cactus Project is the Parkes/Sarria deposit, which is 100% owned by the company, with the potential for gradual expansion once the Cactus mine becomes a production asset. The company is led by an executive management team and board with a long track record of successful projects in North America, complemented by global capital markets expertise.

Forward-Looking Statements

Forward-looking statements involve known and unknown risks, uncertainties and other factors and ASCU’s actual results, performance or achievements may not be expressed or implied by the forward-looking statements. Future results, performance or achievements may differ materially. Factors that can affect the results include, among others: Future prices and supply of metals. Consequences of excavation; failure to raise the necessary funds to cover the expenses necessary to hold and advance the property; environmental responsibility (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; mining accidents, industrial disputes and other risks; Political instability, terrorism, rebellion or war. or delays in obtaining governmental approvals, projected cash operating costs, failure to obtain regulatory or shareholder approvals.

Although ASCU has attempted to identify important factors that could cause its actual actions, events or results to differ materially from those set forth in the forward-looking statements, ASCU does not anticipate actions, events or results. , estimated, or there may be other factors that cause it to differ from that intended. The forward-looking statements contained herein are made as of the date of this news release and ASCU may not make any forward-looking statements as a result of new information, future events, results or otherwise. shall not be obliged to update the law.