Articles from Arizona Sonoran Copper Company Inc.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), is pleased to announce that it has filed and been receipted for a final short form prospectus (the “Prospectus”) in connection with its bought deal offering of 22,500,000 common shares in the capital of the Company (the “Common Shares”) at a price of C$2.00 per Common Share (the “Issue Price”) for gross proceeds to the Company of C$45,000,000 (the “Offering”), as further described in the press release of the Company dated June 2, 2025. Pursuant to the Offering, the Company also granted the underwriters an over-allotment option to purchase at the Issue Price up to an additional 15% of the Common Shares issued in connection with the Offering, which option is exercisable, in whole or in part, by the underwriters at any time up to and including 30 days after the closing of the Offering. The underwriters have exercised the over-allotment option in full.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) is pleased to announce that in preparation for project financing, it has appointed H&P Advisory Limited (“H&P”) as its debt financial advisor for the Cactus Project, a copper cathode development project in Arizona ("Cactus" or the “Project”).

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging U.S. copper developer in Arizona, today provides an update on key workstreams associated with advancing the 2024 Preliminary Economic Assessment (“2024 PEA” see the Aug 7, 2024 Press Release | Technical Report) to Pre-feasibility Study (“PFS”). The 2024 PEA envisages a low capital intensity open pit operation producing over 116,000 short tons or 232 million pounds of copper cathodes annually for the first 20 years of the mine life, via heap leach and solvent extraction electrowinning (“SX/EW”) processing of the oxides and enriched material. Activities in 2025 are set to derisk the Cactus Project as we move through the technical studies and to an eventual construction decision post-definitive feasibility study next year.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) is pleased to announce that initial Parks/Salyer infill drilling results are confirming the continuity of mineralization at tighter drill spacings, and additionally, have extended the high grade core at the Parks/Salyer copper deposit, onto the MainSpring property at the Cactus Project, in Arizona (see FIGURES 1-10). Results from the program are in line with expectations, with a few positive outliers notably from ECM-289, ECM-299 and ECM-244. Three drill rigs are focused on mineral resource infill drilling, while a fourth rig is focused on both mineral resource infill drilling at Cactus West and providing downhole data for the geotechnical and hydrological programs necessary for the planned Pre-Feasibility Study (“2025 PFS”) expected in the second half of 2025.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging U.S. copper developer, is pleased to report that RG Royalties LLC, a subsidiary of Royal Gold Inc. (RLGD:NASDAQ) has purchased an existing 2.5% net smelter royalty (“NSR”) on a portion of the Cactus Project for cash consideration of US$55 million from Tembo Capital. ASCU has the right to buy back 0.5% of Royal Gold’s aggregate 2.5% NSR for US$7 million, by July 10, 2025.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging U.S. copper developer, is pleased to highlight the significant progress made at the Cactus Project in 2024, and outline its fully-funded strategic goals for 2025. ASCU is committed to advancing its brownfield Cactus Project through technical studies, building upon the positive updated 2024 Preliminary Economic Assessment (“2024 PEA”) issued this past August. The 2024 PEA highlighted a compelling 31-year open pit, heap leach and solvent extraction and electrowinning (“SXEW”) operation in Arizona. Upcoming studies, including the Pre-Feasibility Study (“2025 PFS”) already in progress and the planned follow-on Definitive Feasibility Study (“DFS”), will focus on optimizing asset-level operations to enhance value while driving key project-level milestones.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) announces that it has adopted a shareholder rights plan (the "Rights Plan") effective as of January 31, 2025, pursuant to a shareholder rights plan agreement entered into with TSX Trust Company, as rights agent.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging US copper developer, is pleased to announce that further to its press release dated January 9, 2025 (the “January 9 PR”), it has closed its private placement with Hudbay Minerals Inc. (“Hudbay”) of 11,955,270 common shares at a price of C$1.68 for gross proceeds to the Company of C$20,084,853 million (the “Hudbay Placement”). Additionally, Nuton LLC (“Nuton”), a Rio Tinto Venture, exercised its pre-emptive rights in respect of the Hudbay Placement, pursuant to the terms of its investor rights agreement, to maintain its 7.2% equity interest in the Company for gross proceeds of C$1,562,210 (the “Nuton Placement”). Pursuant to the Hudbay Placement and the Nuton Placement, the Company issued a total of 12,885,157 common shares at a price of C$1.68 per share for aggregate gross proceeds of C$21,647,064 to the Company (the “Private Placement”). The subscription by Hudbay reflects the base offering of 11,852,064 common shares as well as top-up shares of 103,206 common shares to achieve its 9.99% ownership of the Company after giving effect to the Private Placement.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) is pleased to announce that Hudbay Minerals Inc. (TSX, NYSE: HBM) (“Hudbay”) has agreed to subscribe for 11,852,064 common shares of the Company (“Common Shares”) in a non-brokered private placement (“Private Placement”) at a price of C$1.68 per Common Share (the “Issue Price”) for total consideration of C$19,911,467. Closing is expected to occur on or about January 30, 2025, subject to certain customary closing conditions. Proceeds of the Private Placement are to be allocated to drilling, exploration, technical studies and advancement of the Cactus copper project in Arizona (“Cactus” or the “Project”), and for general corporate purposes.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) is pleased to announce that it has completed a buyback of 1% of the Bronco Creek Exploration (“BCE”) net smelter royalty (“NSR”) for a cash payment of US$500,000, reducing the NSR from 1.5% to a remaining 0.5% NSR. The NSR applies to the BCE parcel which comprises a portion of the Parks/Salyer deposit on the Cactus Project. In FIGURE 1, the BCE parcel is represented in yellow.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) an emerging US-based copper developer, announces results from 12 leach columns completed from its column leach metallurgical testing program at the Cactus Project, Arizona. An average soluble copper extraction rate of 87% over 180 days of leaching was achieved from 6 oxide and enriched composite columns from the Parks/Salyer deposit, inclusive of MainSpring. The other 6 columns represent the final Stockpile columns with an average soluble copper extraction rate of 86% over 100 days.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) an emerging US-based copper developer, is pleased to announce an amendment to the Industrial Air Permit has been received from the Pinal County Air Quality Division. The amended Aquifer Protection permit has been applied for and is currently under review by the Arizona Department of Environment and Quality, ADEQ.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) an emerging US-based copper developer and near-term producer, is pleased to announce that further to its news release dated October 9, 2024, it has closed a non-brokered private placement financing in respect of the exercise by Nuton LLC (“Nuton”), a Rio Tinto Venture, of its pre-emptive rights under its Investor Rights Agreement (as defined herein) (the “Private Placement”).

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) today announces that following a request for proposal, ASCU has appointed M3 Engineering, Tucson, to lead the Cactus Project Pre-Feasibility Study (the “PFS”) and to act as metallurgical program lead. The consultants will include AGP (mining), Clear Creek (hydrology), ALS Geotechnical (geology), and Partners in Performance (real-time modeling and optimization), all of whom have contributed to ASCU’s prior studies. The Company anticipates the PFS to be completed in the second half of 2025.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) today announces the appointment of Mr. Nicholas (Nick) Hayduk as VP Corporate Development, General Counsel and Corporate Secretary complementing the team with a wide-range of Corporate Development and General Counsel expertise for the metals and mining industry. Effective October 1, 2024, Mr. Hayduk will replace Ms. Rita Adiani who will be leaving the Company following a two-week transition period. The Company wishes Ms. Adiani success in her future role.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging US-based copper developer and near-term producer, today announces the voting results from its annual and special meeting (the “Meeting”), held earlier today. A total of 76,531,243 common shares were voted at the meeting representing 69.92% of the issued and outstanding shares. Shareholders voted in favour of the business before the Meeting, being (i) the reappointment of PricewaterhouseCoopers LLP as auditors of the Company, (ii) the approval of the equity compensation plan, (iii) the advanced notice policy, and (iv) the election of all director nominees, all as outlined in the Company’s management information circular dated July 29, 2024 (the “Circular”). The Directors were voted by ballot, as best practice for TSX-listed companies. The results of the ballot are detailed in the table below.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) reports new drill assay results from its infill and step-out drilling program below the previously untested extents of primary copper mineralization around the Cactus West pit, on the Cactus Project, in Arizona. Drilling builds upon the Company’s PEA drill database, extending the primary sulphide zones by upwards of 500 ft (152 m) below known mineralization (see FIGURES 1 – 10).

Arizona Sonoran Copper Company Inc.  (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), releases its updated Mineral Resource Estimate (“MRE”) for the Cactus brownfield copper project, located 45 miles south of Phoenix, Arizona (see FIGURES 1-3). The updated and expanded MRE is inclusive of a seven-month drilling program targeting the MainSpring property, which was completed in April 2024. The Cactus Project is wholly owned and located on private land in Arizona with direct road and rail access, infrastructure onsite, is at an advanced permitting stage, and has permitted access to onsite water wells. Highlights and key changes from the updated MRE are listed below.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) today reports that, further to the press release dated AUG 7, 2024, announcing the Cactus Project NI 43-101 Preliminary Economic Assessment (“PEA”), the technical report in respect of the PEA is now filed on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile and is also available on the company website (www.arizonasonoran.com). The Cactus PEA envisages an average 86k short ton (172 million pound) per annum open pit copper heap leaching operation over a 31-year mine life (“LoM”). In total, 5.3 billion lbs or 2.7 million short tons of LME Grade A Copper Cathodes is detailed for production directly onsite via solvent extraction and electrowinning (“SXEW”) hydrometallurgical processing. The PEA supersedes the previously released Pre-Feasibility Study (“PFS”) in all respects. All dollar amounts referenced herein in US dollars, and all references to tons are imperial or short tons, unless otherwise noted; 1 short ton equals approximately 0.91 metric tonnes.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) reports drilling results targeting below the leachable oxides and enriched sulphides, into the untested extents of primary copper mineralization around the Cactus West Pit, on the Cactus Project, in Arizona. Drilling confirms a thick zone of primary sulphide mineralization beneath the Cactus West open pit mine plan and at least 750 ft (229 m) south, 500 ft (152 m) southwest and up to an additional 700 ft (213 m) below the Cactus West mineral resource shell (see FIGURES 1 – 8). The program is part of the 2024 Nuton Work Program sponsored by Nuton LLC, a Rio Tinto venture, as announced January 30, 2024.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) today reports the results from an NI 43-101 Preliminary Economic Assessment (“PEA”) on its 100%-owned brownfield Cactus Project in Arizona, USA. The PEA supersedes the previously released Pre-Feasibility Study (“PFS”) in all respects, and rescopes Parks/Salyer as an open pit operation resulting from the inclusion of the MainSpring property. The inclusion materially improves the economics and operations of the project, producing a total of 5.3 billion lbs or 2.7 million st of LME Grade A Copper Cathodes over a 31-year operating LoM via heap leaching and solvent extraction and electrowinning (“SXEW”), an established and industry standard hydrometallurgical extraction technology. All dollar amounts referenced herein in US dollars, and all references to tons are imperial or short tons, unless otherwise noted; 1 short ton equals approximately 0.91 metric tonnes. The Company previously issued a news release on JUL 16, 2024 (the "MRE News Release"), disclosing an updated mineral resource estimate (the "2024 MRE") for the Cactus Project which formed the basis for the PEA.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) today reports the first 16 drill holes (19,219 ft | 5,858 m) from an infill drilling program at MainSpring, within the 100%-owned Cactus Project in Arizona (see FIGURES 1-14). Drilling is infilling the shallow mineralization to the southern end of the area, in support of a potential open pit design. An open pit design using the inferred category resources is being evaluated for inclusion within the pending Preliminary Economic Assessment (“PEA”), expected in Q3 2024.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) reports the completion of its inferred drilling program on MainSpring, within the 100%-owned Cactus Project, Arizona. The inferred drilling program confirms a continuation of the thick enrichment blanket extending south and up dip from the Parks/Salyer deposit onto MainSpring, as well as the presence of enriched mineralization in MainSpring (see FIGURES 1-12). With the final receipt of assays, a MainSpring mineral resource model is now being generated for its inclusion to the integrated Nuton and Cactus Preliminary Economic Assessment (“PEA”) expected in Q3 2024.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) reports that drilling at MainSpring on its 100%-owned Cactus Project, Arizona, confirms near surface mineralization up-dip from the Parks/Salyer deposit (see FIGURES 1-11). A total of 17,650 ft (5,380 m) of drilling or 16 holes are reported herein, with 10 holes pending. The 2024 MainSpring inferred drill program (500 ft | 152 m drill spacing) is now complete and drilling continues to define indicated drill spacings (250 ft | 76 m drill spacing) with 3 drill rigs.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) today provides an update on positive land developments, including MainSpring and a new special land use permit to the east of the Cactus Project, connecting the Project (see FIGURE 1).

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) today announced it has completed its NI 43-101 Prefeasibility Study (“PFS”) for its Cactus Project in Arizona, USA. The Standalone PFS outlines a lower risk, top 10 potential copper operation in the domestic USA, producing LME Grade A copper cathodes onsite via heap leach and a Solvent Extraction/Electrowinning (“SXEW”) plant. All dollar amounts referenced herein in US dollars, and all references to tons are short tons, unless otherwise noted.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) today announces its 2024 work plan and 2023 achievements. The ensuing year’s activities relate to the continued advancement of the Cactus Property, through Feasibility studies while concurrently completing Nuton-related work programs.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), is pleased to release drill assay results from an exploration program at the MainSpring property, situated within the Cactus copper project in Arizona. A total of 7 of 11 ASCU drilled holes completed last year (see PR Nov 20, 2023), and 22 legacy holes from the previous option holder are reported here and indicate mineralization from the Parks/Salyer deposit nears surface as it extends south (see FIGURES 1-14). Future drilling will test the open pit potential of MainSpring with the intent of updating the Cactus Mineral Resource Estimate post-Prefeasibility Study (“PFS”).

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), is pleased to report infill drill assay results from the Parks/Salyer infill to measured program on the Cactus Project, Arizona. These 11 drill holes total 24,463 ft (7,456 m) of drilling (see FIGURES 1-16).

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), reports additional drill assay results from the Cactus West and Cactus East deposits within the Cactus Project, Arizona. A total of 9 drill holes were completed for a total of 18,215 ft (5,552 m) supporting the 125 ft (38 m) infill-to-measured and geotechnical drilling programs (see FIGURES 1 – 12).

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) is pleased to announce today that it has entered into an option to joint venture agreement with Nuton LLC (“Nuton”), a wholly-owned subsidiary of Rio Tinto, to establish a strategic alliance for deployment of the Nuton technologies at its Cactus Mine and the Parks/Salyer Project (collectively, the “Cactus Project”), in Arizona, USA. All dollar figures herein are in United States dollars unless otherwise indicated.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) an emerging US-based copper developer and near-term producer, today announces metallurgical results from the Nuton Phase 1 column leach program from ASCU’s Cactus copper porphyry project in Arizona, USA (see FIGURES 1-3).

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), reports that exploration drilling at the MainSpring property intersected near surface copper mineralization from 4 drill holes. The southern-most MainSpring drill hole, ECM-186, was collared 2,500 ft (762 m) south of the Parks/Salyer deposit (see FIGURES 1-9) and intersected shallow oxide mineralization at a depth of 138 ft (42 m) from surface. In comparison, Parks/Salyer mineralization begins at approximately 550 ft (176 m) at its shallowest, over a footprint of 2,000 ft by 2,500 ft. The MainSpring property is situated contiguous to the Parks/Salyer Property and within the, privately held by ASCU, Cactus Project in Arizona.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) announces drill assays from 5 holes at Cactus East and 4 from Parks/Salyer (18,467 ft | 5,629 m) (see FIGURES 1-18). Drilling at 125 ft (38 m) drill spacings demonstrating the continuity and thicknesses of mineralization within the proposed Cactus East and Parks/Salyer high grade underground oxide and enriched mineralized zones.

Arizona Sonoran Copper Company Inc. (TSX:ASCU) (“ASCU” or the “Company”), releases its Mineral Resource Update (“MRE”) for the combined Cactus, Stockpile and Parks/Salyer deposits, together the “Cactus Project”, located 45 miles south of Phoenix, Arizona (see FIGURES 1-7). The upgraded MRE is expected to form the basis for the ASCU Pre-Feasibility Study (“PFS”), targeting a 45-50 ktpa copper cathode heap leach and SXEW operation, and is on track for release in Q1 2024. The brownfields project is wholly-owned and located on private land in Arizona with ~$30 million of infrastructure onsite, an advanced permitting stage, approved water rights and access to water.

Arizona Sonoran Copper Company Inc. (TSX:ASCU) (“ASCU” or the “Company”), an emerging US-based copper developer and near-term producer, announces that the City of Casa Grande has approved the rezoning for the northern parcel of the MainSpring Property (“Parks/Salyer South”) to Industrial use. Rezoning the northern parcel allows ASCU to begin drilling and an exploration plan is being prepared. The southern parcel of Parks/Salyer South is still in process with the City of Casa Grande for rezoning and a General Plan Amendment. Additionally, the Company has acquired a 2.5 acre Mineral Exploration Permit (“MEP”) within the Parks/Salyer deposit. By acquiring the MEP and Parks/Salyer South, ASCU gains a low-risk, high impact exploration target and operational flexibility for future operations.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging copper developer and near-term producer, drills initial 13 infill holes from the high grade core of the Parks/Salyer deposit demonstrating continuity of grade and mineralized widths at 125 ft (38 m) drill spacing (see FIGURES 1-15). A total of 29,036 ft (8,850.2 m) has now been drilled within the overall 105,000 ft (32,000 m) infill to measured drilling program over the Cactus Project deposits. This program is being undertaken to upgrade parts of the current mineral resources to the measured category for a definitive feasibility study (“DFS”) in late 2024.

Arizona Sonoran Copper Company Inc. (TSX:ASCU) (“ASCU” or the “Company”), an emerging US-based copper developer and near-term producer, today updates on exploration and development activities at the Cactus Mine Project, inclusive of the Parks/Salyer deposit. All activities are focused on de-risking its high-quality asset in a tier one location, in preparation for the pending step-up Pre-Feasibility Study (“PFS”) expected in Q1 2024. Furthermore, the owner-operator team continues to strengthen with the appointment of Mr. Steve Dixon, M.Sc.; Chief Metallurgist. He will be managing the metallurgical programs in preparation for the base case PFS and Definitive Feasibility Study (“DFS”).

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) is pleased to announce that it will host a live VID Town Hall Forum on Wednesday September 6 at 11:00 am EDT (8:00 am PDT). To join, please register using the link provided here, or listed below.

Arizona Sonoran Copper Company Inc. (TSX:ASCU) (“ASCU” or the “Company”), an emerging US-based copper developer and near-term producer, today announces the voting results from its annual general meeting (the “Meeting”), held yesterday, virtually. A total of 68,844,957 common shares were voted at the meeting representing 64.607% of the issued and outstanding shares. Shareholders voted in favour of the business before the Meeting, being (i) the reappointment of PricewaterhouseCoopers LLP as auditors of the Company, and (ii) the election of all director nominees as outlined in the Company’s management information circular dated May 2, 2023 (the “Circular”) on a vote held by ballot, including the appointment of a new Independent Board Member, Isabella Bertani, who replaces Thomas Boehlert on the Board. The results of the ballot are detailed in the table below.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging copper developer and near-term producer, today releases 8 infill holes from the Parks/Salyer Pre-Feasibility Study (“PFS”) level drilling program and assays from the first infill to measured drill hole (ECP-148) for the Feasibility Study (“FS”) (see FIGURES 1-17). The Company has now begun to generate an internal updated mineral resource and block model to support the declaration of first reserves in the pending step-up PFS by Q1 2024. Drilling continues with three rigs at Parks/Salyer, reducing drill spacing further to 125 ft (30 m) drill centres in preparation of the FS expected in the second half of 2024.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging copper developer and near-term producer, continues to build the development and production team onsite at the Cactus Mine Project. The Company has appointed Harold (Bernie) Loyer as Senior VP Projects, replacing Ian McMullan as Chief Operating Officer and Christopher White as Chief Geologist to support Doug Bowden, VP Exploration. Ian McMullan will be staying with the Company for up to six weeks to assist with the transition of his duties.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) an emerging US-based copper developer and near-term producer, today reports positive preliminary column leach metallurgical extraction rates using the NutonTM technologies as part of the Phase 1 testing program with Nuton LLC, a Rio Tinto venture. Primary sulphide extraction ranges from 61% to 82% based on 5 columns, including 2 early cycle columns returning 83% and 61%, 2 mid-cycle columns above 70% and 1 with lower extraction based on biotite content. Nuton is currently reassessing the additives for this low extraction column to address future biotite exposure, which accounts for approximately 1-2% of the Cactus West deposit in the primary zone. A total of 13 ongoing columns are approximately 75-150 days through their 300-day leach cycle and include samples from the sulphide, both primary and enriched (secondary sulphide) zones from both Cactus and Parks/Salyer deposits, as well as from the tailing facility, all of which are situated on wholly-owned private land in Pinal County, Arizona.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) an emerging US-based copper developer and near-term producer, is pleased to announce that Pinal County Air Quality Department has approved and issued the Company its Industrial Air Permit for the Cactus Mine Project (the “Project”). The issuance of this permit is a key milestone in the re-development of the Project, as it is the final major permit needed, ahead of developing and mining the Project.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) an emerging US-based copper developer and near-term producer, provides an update on metallurgy and improvements to the TruStone Facility (“TruStone”). ASCU continues to improve metallurgical recoveries through ongoing Pre-Feasibility (“PFS”) and Feasibility Study (“FS”)-level columns located onsite and in TruStone. The 90-day Stockpile oxide cycle is now complete with 90% recoveries of each column’s head grade. Preliminary results from the Parks/Salyer enriched columns after 160 days are tracking to approximately 80% recovery. Samples for each of the TruStone columns were sent to HydroGeoSense Inc. (“HGS”) and Skyline Lab for sequential copper and total copper analysis. The metallurgical programs are overseen by Dan Johnson, ASCU Projects Director and QP’d by Samuel Engineering.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) an emerging US-based copper developer and near-term producer, is pleased to announce that further to its press release dated Feb 16, 2023, it has closed a non-brokered private placement financing in respect of the exercise by Nuton LLC (“Nuton”) of its pre-emptive rights under its Investor Rights Agreement (as defined herein) (the “Private Placement”).

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging copper developer and near-term producer, today announces 6 infill holes from the Parks/Salyer Pre-Feasibility Study (“PFS”) level drilling program. The infill to Indicated drilling program was completed on time and within the budget, with the remaining assays from 10 drill holes expected by the middle of May. This program will be used to generate an updated resource model and mine plan to support the declaration of first reserves in the pending PFS by Q1 2024. As announced March 6, 2023, the PFS is exploring an integrated operation for Parks/Salyer and Cactus targeting 50 ktpa production (see FIGURES 1-11).

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) today announces the receipt of the Mined Land Reclamation Permit (“MLRP”) from the Arizona State Mine Inspector’s Office for the Cactus Mine Project following the Company’s application in December of 2022. The MLRP is the primary financial assurance document requiring the operator to bond for the full reclamation of the property after mining operations have concluded.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) infill drilling at the Parks/Salyer (“P/S”) Project continues to demonstrate grades and thicknesses supportive of an underground operation within the planned Prefeasibility Study, expected by Q1 2024. The Company is announcing an additional 9 drill hole assays from the Parks/Salyer infill to indicated program, spaced at 250 ft (76 m). A total of 45 infill drill holes are now complete, from within the 46-hole, 105,000 ft (32,000 m) planned program. Parks/Salyer (“P/S”) is located on private land, contiguous to the Cactus Mine Project, in Pinal County, Arizona (see FIGURES 1-10).

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) exploration drilling at the NE Extension target confirms 990.7 ft (302 m) of 0.42% CuT of continuous copper mineralization, collared 3,000 ft (914 m) northeast of the Cactus East (CE) deposit. Both the NE Extension, as well as the Gap Zone, were highlighted as priority targets following a property wide ionic leach program and magnetic imaging program targeting exploration potential along the 4 km Cactus Mine Trend. During 2023, a total of $0.9 million is budgeted for additional exploration in the Gap Zone and the NE Extension. Additionally, two infill to measured drill holes from Cactus East were returned from the laboratory, confirming continuous grade and thickness within the current mine plan (see FIGURES 1-11).

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) is pleased to announce that it will host a live VID Town Hall Forum on Tuesday March 21 at 11:00 am EDT. To join, please register using the link provided here, or listed below.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) today announces the engagement of Ausenco Pty Ltd out of Tucson, as lead engineer to deliver an integrated Pre-feasibility Study (“PFS”) at the Cactus and Parks/Salyer Project (the “Project”) by early 2024. The Project, on private land, is a brownfields site with in-place infrastructure and is accessible via highway, 45 miles south of Phoenix, Arizona. Additionally, the Company is pleased to announce the appointment of Victor Moraila as Chief Engineer, joining as the Company transitions into a US-based copper developer.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging US-based copper developer and near-term producer, is pleased to announce that it has entered into a purchase and sale agreement (“PSA”) in respect of the MainSpring property, 523 acres of private land immediately south of the Parks/Salyer project and east of the mine access road (the “MainSpring Property”). The total increased land position of the combined Cactus and Parks/Salyer project is expected to be 5,368 acres, up from 4,845 acres. As a result, operational flexibility significantly improves with regards to planning requirements for the re-scoped pre-feasibility study (“PFS”) (see FIGURE 1).

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) announces assays from 7 drill holes from the Parks/Salyer infill program. Drill spacing from the Parks/Salyer deposit is being reduced to 250 ft (76 m), with the aim to upgrade the current inferred mineral resource to an indicated category. The total program consists of 105,000 ft (32,000 m) or 46 holes, of which 35 infill core holes (77,720.5 ft | 23,689 m) have now been drilled. Parks/Salyer (“P/S”) is located on contiguous land ~1.3 mi (2 km) southwest of the Company’s Cactus Mine Project (see FIGURES 1-11).

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) today announces 60% completion of its 105,000 ft (32,000 m) infill to indicated drilling program at Parks/Salyer (“P/S"), located ~1.3 mi (2 km) southwest of the Company’s Cactus Mine Project (see FIGURES 1-10). A total of 27 holes have now been drilled out of an anticipated 46 holes, with assays received to date for 15 holes, including the five reported in this release.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) today announces its 2023 work plan for the Cactus Property, inclusive of the Cactus and Parks/Salyer (“P/S”) Projects. All work streams this year will feed into the planned Prefeasibility Study (“PFS”) due in 4Q23/1Q24, and includes drilling, metallurgy, detailed engineering, permitting and technical studies, along with continued efforts to build the onsite operations and technical team.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) provides an update on metallurgical programs and project management appointments.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) and the Arizona Department of Environmental Quality ("ADEQ”) were together presented with the 2022 Award for Environmental Excellence by the American Exploration & Mining Association (“AEMA”), a national trade organization representing the hardrock mining industry, at the association’s annual meeting in Reno, NV. The award celebrates the efforts of ASCU and ADEQ to revitalize the Cactus Mine.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) announces further to its press release dated September 28, 2022, it has filed the technical report in connection with the Parks/Salyer (“P/S”) Mineral Resource Estimate (“MRE”) on SEDAR. The technical report is titled Mineral Resource Estimate and Technical Report (the “Technical Report”) and covers both the Parks/Salyer and Cactus project, each 100%-owned and situated on private land in Pinal County, Arizona.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) today releases assays from 3 drill holes from its 105,000 ft (32,000 m) infill to indicated drilling program at Parks/Salyer (“P/S"), located ~1.3 mi (2 km) southwest of the Company’s Cactus Mine Project. Infill drilling continues to intersect thick high-grade mineralization which supports the currently modelled inferred Mineral Resource at P/S (see FIGURES 1-9).

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) is pleased to announce a maiden Mineral Resource Estimate (“MRE”) for the Parks/Salyer (“P/S”) porphyry copper deposit, located immediately southwest of the Cactus Project on contiguous private land in Arizona, USA. The P/S Project is located 1.3 mi (2 km) SW from the Cactus open pit along the mine trend, and demonstrates the same geological characteristics (see FIGURES 1-4).

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) releases 7 drill holes from the Cactus East, Cactus Mine Project infill drilling program. This new set of assays continue to support the previously defined geological interpretations with thick and high-grade intercepts outlined within the underground Cactus East orebody, immediately to the northeast of the historic Sacaton pit. Infill drilling is targeting 125 ft (38 m) spacing with the goal of generating measured mineral resources (see FIGURES 1-7).

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) today releases assays from 9 drill holes from the 14-hole expanded exploration program at Parks/Salyer (“P/S"), located ~1.3 mi (2 km) southwest of the Company’s Cactus Mine Project. Drilling extended mineralization east by up to 1,000 ft (300 m) onto the Bronco Creek ("BCE") land, a part of the P/S Project which was acquired earlier this year (see PR dated Feb 10, 2022). Assays are pending on 4 holes (see FIGURES 1-6). The Company is also extending its current ionic leach sampling survey northeast of P/S, as well as eastward onto the BCE land.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) releases an additional 7 drill holes from the Cactus East, Cactus Mine Project infill drilling program. The current drill program is designed at 125 ft (38 m) centres to generate measured mineral resources (see FIGURES 1-7). These results support the previously defined thick and high-grade intercepts outlined within the underground Cactus East resource. Cactus East is located, at depth, immediately to the northeast of the historic Sacaton pit.

Arizona Sonoran Copper Company Inc. (TSX:ASCU) (“ASCU” or the “Company”) announces assays from the final 6 drill holes at the Parks/Salyer (“P/S”) Project to complete its initial 12-hole (27,722.6 ft | 8,450 m) exploration program (see FIGURES 1-10). These results extend mineralization to the north and the west of the P/S Exploration Target and demonstrate the continuity of grade and tonnage within the porphyry copper target located 1.3 mi (2 km) from the Cactus Mine. The Company continued its 500 ft (152 m) centre program to the west and eastward onto newly leased land (see PR dated Feb 10, 2022) with an additional 14 – hole program (all holes are complete, with assays pending).

Arizona Sonoran Copper Company Inc. (TSX:ASCU | ASCUF:OTCQX) (“ASCU” or the “Company”), an emerging US-based copper developer and near-term producer, is pleased to enter into a one year exclusivity period with Nuton™, a Rio Tinto Venture, (“Rio Tinto”/ “Nuton™”). The exclusivity was triggered by successfully modelling the Cactus and Parks/Salyer ore samples and achieving the previously contemplated indicative metallurgical recoveries of at least 72% (copper recovery to cathode), under the Investor Rights Agreement. Nuton will continue to test the application of its copper heap-leach related technology to the primary sulphide component of the Cactus Mine and Parks/Salyer Projects through column leaching and scoping out capital and operating costs and design parameters.

Arizona Sonoran Copper Company Inc. (TSX:ASCU) (“ASCU” or the “Company”), an emerging US-based copper developer and near-term producer, announces an additional 3 drill holes (6,440 feet | 1,960 metres) from its initial 12-hole exploration program at the Parks/Salyer (“P/S”) Project, while a new 80,000 ft (24,400 m) program is well-underway at the P/S Project (see FIGURES 1-3). The new drilling program tests the extents of the previously defined Exploration Target (see PR dated Feb 10, 22), from the southern border of P/S and in a north-eastern trend towards the Cactus Mine, at 500 ft centres. Assays are pending on an additional 12 holes.

Arizona Sonoran Copper Company Inc. (TSX:ASCU) (“ASCU” or the “Company”), an emerging US-based copper developer and near-term producer, has released the voting results from its Annual General Meeting, held earlier today.

Arizona Sonoran Copper Company Inc. (TSX:ASCU) (“ASCU” or the “Company”), an emerging US-based copper developer and near-term producer today announces it has increased the bench strength of its Operations Team in Arizona and the Toronto-based finance team. Both Dan Johnson, Project Manager and John Peterson, Senior Environmental Professional, are well-known and well-respected individuals with long careers in the Arizona mining industry, while Kevin Canario, Director of Finance has been a key member of mining finance teams as both an auditor and CFO.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging US-based copper developer and near-term producer, is pleased to announce that the Company has received Depository Trust Company (DTC) eligibility which facilitates settlement transfers and electronic clearing of ASCU common shares within the USA.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging US-based copper developer and near-term producer, announces results from 25 drill holes (30,926 ft | 9,426 m), from its now complete Cactus Prefeasibility Study (“PFS”) infill drilling program (see FIGURES & PHOTOS 1 – 8 and TABLE 1 below). The PFS drilling program tightened the drill spacing within the entire integrated Preliminary Economic Assessment (“PEA”) mine plan, including Cactus East and West and the Stockpile, with the intent of upgrading the Inferred mineral resources to Indicated mineral resources. As a result of tighter drill spacing, data shows an improved resolution of lithological, structural, and mineral zonation controls. Additionally, drilling to support further metallurgical and geotechnical test work was undertaken.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging US-based copper developer and near-term producer, today released an additional 2 drill holes (4,725 ft | 1,440 m) from a 12-hole program at the Parks/Salyer (“P/S”) Project, of which six holes have now been reported. Assay results from this most recent drilling extend known mineralization a minimum of 500 ft west of prior drilling (see FIGURES 1-4). The initial drill program comprises 24,000 ft (~7300 m) and aims to test the extension of the porphyry copper system from the southern border of its Parks/Salyer property along the mine trend towards the Cactus Mine and within the newly defined Exploration Target Area.

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging US-based copper developer and near-term producer, announces it has been qualified to trade on the OTCQX® Best Market and begins trading today on OTCQX under the symbol “ASCUF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com. The Company is currently applying for DTC eligibility to enable electronic trading, and will provide an update on the process in due course.

Arizona Sonoran Copper Company Inc. (TSX:ASCU) (“ASCU” or the “Company”), an emerging US-based copper developer and near-term producer is pleased to announce that the Arizona Department of Environmental Quality ("ADEQ") has granted its Cactus Mine an amended Aquifer Protection Permit (“APP”). On July 29, 2021, the Company was granted an APP for the Stockpile Project, which has now been amended to add the Cactus Mine open pit and underground operations to the Stockpile Project.

Arizona Sonoran Copper Company Inc. (TSX:ASCU) (“ASCU” or the “Company”), an emerging US-based copper developer and near-term producer is pleased to announce a positive review of the jurisdictional waters on the Company’s newly rezoned LKY, ARCUS and Merrill by the United States Army Corps of Engineers (“USACE”). As a result, all future permitting processes at Cactus will continue to be driven by State and County levels.