Faraday begins phase 4 drilling at Copper Creek

Executive Summary

• Faraday Copper Corp. has commenced its Phase 4 drill program at the Copper Creek project in Arizona, marking the largest drill program planned for the site to date with a target of 40,000 metres.
• The program is heavily focused on the American Eagle area, leveraging a recently approved Bureau of Land Management exploration plan that expands available drill pads from nine to 67 on federal land.
• The company has deferred its updated resource and technical study until after this drill program is completed, prioritizing the delineation of mineralized breccias, porphyry occurrences, and near-surface oxide mineralization to maximize economic potential.

Key Details

• Drilling Scope: Total planned diamond drill program of approximately 40,000 metres.
• Program Focus Areas:
  • American Eagle Near-Surface Mineralization: Approximately 20,000 m allocated to focus on the American Eagle area, which previously yielded the high-grade Banjo breccia from nine drill pads. The new approval allows for 67 drill pads (48 in/near American Eagle) to test for further near-surface porphyry and breccia-hosted mineralization.
  • Oxide Resource Growth: Approximately 10,000 m allocated to targeting oxide mineralization to increase potential for copper cathode production, offering optionality for early cash flow and domestic copper production via heap leach recovery.
  • New Discoveries/District Exploration: Approximately 10,000 m allocated to new discoveries in the Copper Creek district, including targets such as the Sunrise Trend, Bunker Hill, and Sycamore, as well as reconnaissance drilling for potential new porphyry centres.
• Regulatory Approval: The Bureau of Land Management has approved an exploration plan of operations providing access to 67 drill pads on federal land, significantly expanding targeting opportunities compared to the previous nine pads.
• Strategic Deferral: CEO Paul Harbidge announced that the updated resource and technical study has been deferred until after the completion of the Phase 4 drill program to prioritize growing the resource and evaluating exploration upside.
• Technical Review: Scientific and technical information reviewed by Dr. Thomas Bissig, PGeo, Vice-President of Exploration, a Qualified Person under National Instrument 43-101.
• Previous Context: Phase 3 drilling from nine pads identified multiple mineralized breccias, including the high-grade Banjo breccia. The underground resource at Keel and American Eagle is open laterally, with potential for expansion.

Notable Quotes

• "I am excited to announce the start of our phase 4 V drill program, the largest drill program ever planned on the project to date... This now allows us to fully delineate multiple mineralized breccias and porphyry occurrences, as well as near-surface oxide mineralization. As a result, we have decided to focus on this exciting exploration upside to fully evaluate the American Eagle area and test other high-priority targets across the property. Growing the resource and maximizing the economic potential is our priority, and, therefore, we have deferred the updated resource and technical study until after this drill program is completed." — Paul Harbidge, President and CEO