Drilling At MainSpring Confirms Near Surface Mineralization

Drilling At MainSpring Confirms Near Surface Mineralization

CASA GRANDE, AZ – Arizona Sonoran Copper Company Inc. reported that drilling at MainSpring on Cactus Project, Arizona, confirms near surface mineralization up-dip from the Parks/Salyer deposit. 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.

Drilling at MainSpring has 1) Extended the High Grade Mine Trend at Parks/Salyer by 650 ft (198 m) to the southwest. 2) Traces lower grade mineralization another 2,500 ft (762 m) south, to within 140 ft (42 m) of surface. Drilling on the MainSpring Property illustrates a continuation of the porphyry system that hosts the Cactus Project deposits. The lower grade and near surface MainSpring mineralization is currently being drill tested as a potential starter open pit within a pending Preliminary Economic Assessment (PEA), which will be inclusive of a maiden MainSpring inferred resource and the application of the Nuton technologies to the primary sulphides using the same PFS assumptions announced prior. The PEA is expected in the summer 2024.

Highlights: 1) The MainSpring zone is the southern extension of Parks/Salyer, as it daylights towards surface to within 140 ft (42 m) of surface. 2) MainSpring is drilled over an area of at least 2,500 ft x 3,000 ft (762 m x 915 m), up-dip of Parks/Salyer. 3) ECM-198: Extends Parks/Salyer High Grade Mine Trend by 650 ft (198 m) to the southwest. 4) 882 ft (269 m) @ 0.44% CuT of continuous mineralization, including 83 ft (25 m) @ 1.41% CuT, 1.30% Cu TSol, 0.023% Mo (enriched). 5) ECM-209: 256 ft (78 m) @ 0.51% CuT, 0.44% Cu TSol, 0.003% Mo (oxide), including 98 ft (30 m) @ 0.95% CuT, 0.87% Cu TSol, 0.004% Mo. 6) ECM-197: 367 ft (112 m) @ 0.31% CuT, 0.26% Cu TSol, 0.002% Mo (oxide). 7) 125 ft (38m) @ 0.56% CuT, 0.47% Cu TSol, 0.003% Mo (enriched).

George Ogilvie, Arizona Sonoran President and CEO commented, “We are encouraged by the MainSpring drilling results to date. Since acquiring the asset in 2020 with only a Stockpile and historic records, our team has done a tremendous job outlining a copper resource of 5.2 billion pounds M&I and 2.2 billion pounds Inferred*. With the issuance of our recent Pre-Feasibility Study, we reset our operational plan and economic outlook on the project based on this mineral resource, which includes reserves of 3.0 billion pounds** from our four deposits. Looking forward, MainSpring is now presenting us with a new opportunity for near term growth and further optimizations to the operations and financials. Our team’s main focus now is to integrate MainSpring into the rest of the project. Within the next two quarters, we plan on issuing an inferred mineral resource on MainSpring and a PEA on Cactus and Nuton, inclusive of MainSpring. Subsequent drilling to the indicated category will feed into an updated PFS inclusive of the MainSpring opportunity by end of the year. We have entered a transitional and transformational year for the Cactus Project.”