Arizona Sonoran Cactus Project PFS Technical Report Reporting Post-Tax NPV8 of US$2.30 Billion and IRR of 22.8% is now Filed

The most recent news release, dated November 19, 2025, announces the filing of the NI 43-101 Pre-Feasibility Study (PFS) technical report for Arizona Sonoran Copper Company Inc.'s Cactus Project. This report details a conventional open-pit copper operation with heap leach SXEW processing.

Key metrics from the filed PFS report include: - After-tax NPV8%: US$2.30 billion - After-tax IRR: 22.8% - Initial Capital Expenditures: US$977 million - Payback Period: 5.3 years - Life of Mine (LOM): 22 years - Average Annual Copper Production (Years 1-10): 226 million lbs - Mineral Reserves: 513 million tons at 0.52% Copper Reserve Grade, containing 5.3 billion lbs of copper. - Cash Cost (C1): US$1.34/lb - All-in Sustaining Cost (AISC): US$1.62/lb - Strip Ratio: 3.3 (Waste:Feed)

The company targets a Final Investment Decision (FID) in Q4 2026 and first production in 2029. Next steps include completing a Definitive Feasibility Study (DFS) in 2H 2026, advancing project financing, and obtaining permit amendments.

This news is a positive, but routine, procedural step following the company's announcement of exceptional PFS results on October 20, 2025. The filing of the technical report confirms the detailed economic and operational projections previously disclosed. All key metrics reported in this filing are consistent with the October 20, 2025, announcement, reinforcing the viability and robustness of the Cactus Project.

The impact is positive because it demonstrates consistent progress and adherence to regulatory requirements, de-risking the project by making the detailed technical study publicly available. However, since the core economic results were already announced and rated as "Material - Positive", this filing itself does not introduce new material information that would significantly alter the market's perception of the project beyond what was already priced in. It is a necessary administrative milestone that further validates the company's path forward.

This development occurs in the context of recent significant financings (C$75 million bought deal private placement on Nov 12, C$5.8 million private placement with Hudbay on July 10, C$51.75 million public offering on June 20) which have strengthened the company's balance sheet for advancing studies, land acquisitions, and royalty buy-downs.

Arizona Sonoran Copper Company Inc. (ASCU) is a Canadian-listed copper exploration and development company. Its flagship asset is the 100%-owned Cactus Project, a brownfield site located in Pinal County, Arizona, USA, a Tier 1 mining jurisdiction.

The Cactus Project aims to become a significant, low-cost producer of LME Grade A copper cathode. The development plan involves conventional open-pit mining with heap leach solvent extraction-electrowinning (SX/EW) processing. The project benefits from existing infrastructure and its location on private land, which streamlines the permitting process.

The latest Pre-Feasibility Study (PFS) details robust economics: an after-tax NPV8% of US$2.30 billion and an IRR of 22.8% at a copper price of US$3.90/lb. Initial capital expenditures are estimated at US$977 million, with an average annual copper production of 226 million lbs over the first 10 years of a 22-year mine life. Cash costs (C1) are projected at US$1.34/lb and All-in Sustaining Costs (AISC) at US$1.62/lb, positioning it favorably in the industry cost curve.

The company is focused on advancing the project through a Definitive Feasibility Study (DFS), securing project financing, and obtaining necessary permit amendments to achieve a Final Investment Decision (FID) by Q4 2026 and commence production by 2029.