Arizona Sonoran completes drilling at Cactus project

Executive Summary

• Arizona Sonoran completed its PFS‑related infill drilling (160,000 ft) and a Cactus West stepout program (72,000 ft), totaling 232,000 ft of core at the Cactus project.
• The company is now initiating a DFS infill program (~80,000 ft) aimed at converting inferred resources to measured status, with completion expected early 2026.
• Multiple high‑grade intercepts were reported (e.g., ECM‑293: 1,048 ft @ 0.80 % CuT; ECE‑305: 761 ft @ 0.98 % CuT; ECW‑355: 1,945 ft @ 0.39 % CuT), supporting an upcoming mineral resource estimate update and a PFS slated for H2 2025.

Key Details

• Total drilling completed: 232,000 ft (70,715 m) – 134 holes for PFS program + 45 stepout holes for Cactus West.
• PFS drilling scope: 160,000 ft (49,000 m), 250‑ft spacing, covering Parks/Salyer and Cactus West; includes geotechnical, hydrogeological, metallurgical holes.
• DFS infill program: ~110 holes, ~80,000 ft (24,000 m) at 125‑ft (38 m) spacing to achieve measured classification; two rigs operating, target completion early 2026; includes condemnation, geotechnical and hydrogeological holes.
• Key intercepts:
• ECM‑293 (Parks/Salyer): 1,048 ft @ 0.80 % CuT (continuous); 333 ft @ 1.16 % CuT, 0.96 % Cu TSol, 0.007 % Mo; 715 ft @ 0.63 % CuT, 0.015 % Mo.
• ECE‑305 (Cactus East): 761 ft @ 0.98 % CuT; includes 146 ft @ 1.55 % CuT, 1.49 % Cu TSol, 0.015 % Mo; 48 ft @ 2.37 % CuT, 2.33 % Cu TSol, 0.030 % Mo.
• ECW‑355 (Cactus West): 1,945 ft @ 0.39 % CuT; includes 50 ft @ 0.74 % CuT, 0.71 % Cu TSol, 0.010 % Mo; 1,553 ft @ 0.41 % CuT, 0.010 % Mo.
• Stepout results (Cactus West): Mineralized zones extended up to 1,000 ft north/south/southwest and below the pit shell; potential for growth of primary sulphide zones.
• Resource update: MRE upgrade from inferred to indicated/measured is underway; expected soon, feeding into PFS scheduled H2 2025.
• QA/QC: Core sampled on‑site, shipped to Skyline Laboratories (ISO 9001:2008 certified); independent qualified person Allan Schappert (CPG 11758) reviewed technical information.

Notable Quotes

“As we move through the technical study phase and increase the confidence levels of the MRE, we continue to demonstrate the Cactus project as a high‑quality copper porphyry deposit… We look forward to updating the market again soon, first with an MRE update and then mine plan and economics within the PFS within the second half of 2025.” – George Ogilvie, President & CEO.