Faraday Copper Reports Second Quarter 2025 Financial Results

Executive Summary

• Faraday Copper Corp. reported financial results for the three and six months ended June 30, 2025, including a net loss of $5.41 million for Q2 and $13.23 million for the first half of the year.
• The company announced the closing of a significant financing on July 29, 2025, raising gross proceeds of $48,773,450 through a brokered bought deal and a non-brokered private placement at $1.10 per share.
• Operational updates include BLM approval for the Exploration Plan of Operations for the Copper Creek Project, completion of Phase III drilling, and upcoming milestones including an updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA) expected in Q3 2025.

Key Details

• Financial Performance (Three Months Ended June 30, 2025):
  • Net Loss: $5,414,380 (vs. $5,426,500 in 2024).
  • Exploration and evaluation expenses: $4,146,179.
  • General and administration: $585,980.
  • Share-based compensation: $462,678.
  • Basic and Diluted Loss per Share: $0.03.
• Financial Performance (Six Months Ended June 30, 2025):
  • Net Loss: $13,234,811 (vs. $10,926,335 in 2024).
  • Exploration and evaluation expenses: $10,630,687.
  • General and administration: $1,267,652.
  • Share-based compensation: $846,804.
  • Basic and Diluted Loss per Share: $0.06.
• Balance Sheet (as of June 30, 2025):
  • Cash and cash equivalents: $2,393,384 (down from $17,003,895 at Dec 31, 2024).
  • Total assets: $25,034,590 (down from $40,578,185 at Dec 31, 2024).
  • Resource properties: $4,955,328.
• Financing Details (Closed July 29, 2025):
  • Gross Proceeds: $48,773,450.
  • Brokered Bought Deal: 26,139,500 common shares at $1.10/share for $28,753,450.
  • Non-Brokered Private Placement: 18,200,000 common shares at $1.10/share for $20,020,000.
  • Use of Proceeds: Advance Copper Creek Project and general working capital.
• Operational & Project Updates:
  • Regulatory: Received BLM approval for the Exploration Plan of Operations (EPO) on June 30, 2025, including a Finding of No Significant Impact (FONSI). The EPO allows for up to 67 drill pads (48 in American Eagle/Mammoth, 10 in existing resource areas, 9 for reconnaissance).
  • Drilling: Phase III drilling completed in mid-April 2025 with 79 holes and 30,069 meters. Focus was on American Eagle, Area 51, and Rum areas.
  • Exploration Upside:
    • Identified near-surface supergene copper mineralization at Globe and Copper Prince breccias (10.08m at 3.62% Cu and 38.90m at 0.51% Cu).
    • Expansion of near-surface mineralization in American Eagle Area and identification of upside at Sunrise Trend.
    • Discovery of blind Winchester Breccia.
    • Gold potential confirmed in economic concentrations in certain phases; sampling program for gold inclusion in future studies is largely complete.
  • Metallurgy: Positive results confirming high copper recovery through coarse grind and flotation; viability of coarse particle flotation and gold recoveries in concentrate demonstrated.
  • Future Milestones:
    • Updated MRE and PEA expected near the end of Q3 2025.
    • Updated MRE will incorporate ~40,000m of additional drilling from Phase II and III.
    • Phase IV drill program (40,000+ meters) scheduled to commence in September 2025.
  • Project Status: Over 320 known breccia occurrences mapped; less than 15% drill tested. Extensive historical exploration includes over 200,000m of drilling.