Faraday Copper Reports First Quarter 2026 Financial Results

• Faraday Copper Corp. reported Q1 2026 financial results on May 7, 2026, showing a net loss of $9.89M compared to $7.82M in Q1 2025.
• The company confirmed cash and cash equivalents increased to $120.8M as of March 31, 2026, up from $37.9M at year-end 2025.
• A non-brokered private placement closed on March 11, 2026, raising gross proceeds of approximately $100M at $4.20 per share with participation from BHP Group Limited and the Lundin Family Trust.
• Progress continues on the acquisition of BHP's San Manuel property in Arizona via a signed Letter of Intent (LOI) dated February 20, 2026.
• Definitive purchase agreements for the San Manuel acquisition are expected to be signed by the end of Q3 2026.
• Recent drilling at the Copper Creek Project identified additional near-surface copper mineralization in the American Eagle and Keel areas during Phase IV (40,000 m program).

• The May 7 earnings release confirms the successful execution of the March financing strategy, validating the $120M cash runway which de-risks immediate capital needs.
• While net losses increased due to M&A preparation and expanded drilling, the liquidity position is significantly stronger than previous quarters ($38M vs $120M), removing near-term dilution risk for operations.
• The San Manuel LOI remains a key catalyst; confirmation of progress without delays supports the timeline for definitive agreements in Q3 2026.
• The news is largely consistent with prior expectations set by the March financing and February M&A announcements, classifying it as Routine - Positive rather than a new Game Changer event.
• No material misses or surprises were reported; financials align with the capital raised and project advancement costs outlined in previous releases.

• Faraday Copper Corp. is an exploration company focused on copper assets in Arizona, USA.
• Flagship Project: Copper Creek Project (Pinal County), featuring near-surface high-grade breccia-hosted mineralization and a 2023 MRE/PEA.
• Strategic Expansion: Proposed acquisition of BHP's San Manuel property to create a multi-asset copper district with shared infrastructure.
• Development Stage: Advanced exploration; Phase IV drilling program underway (40,000 m) targeting open-pit resource expansion and geotechnical data for feasibility.