Arizona Sonoran Reports 11 Billion Pounds of Contained Copper in updated Cactus Mineral Resource Estimate in the Measured and Indicated Category, 75% of which is Leachable Material

Executive Summary

• Arizona Sonoran Copper released an updated MRE for its wholly‑owned Cactus brownfield copper project, incorporating extensive infill and step‑out drilling across the Parks/Salyer, Cactus West and Cactus East deposits.
• The Measured & Indicated (M&I) resource increased 51% to 1,143 M t @ 0.48 % CuT (≈11.0 B lb Cu), while Inferred resources fell 56% to 233 M t @ 0.37 % CuT (≈1.7 B lb Cu).
• 75% of the M&I copper is leachable; Parks/Salyer now contributes ~57% of total MRE tonnage, with 90% leachable. The updated resource will feed into a Pre‑Feasibility Study slated for Q4 2025 and supports a potential FID by Q4 2026.

Key Details

• Overall Resource (Sept 16 2025, $4.20/lb Cu price)
• Measured & Indicated: 1,143 M t @ 0.48 % CuT → 11.0 B lb Cu (5.5 M t)

• Inferred: 233 M t @ 0.37 % CuT → 1.7 B lb Cu (0.85 M t)

• Parks/Salyer Deposit

• M&I: 514 M t @ 0.61 % CuT, 0.49 % Cu TSol → 6.30 M t Cu (3.15 M t leachable)

• Near‑surface low‑grade material upgraded to Indicated; 90% of its copper is leachable.

• Cactus West & East Deposits

• M&I: 558 M t @ 0.40 % CuT, 0.20 % Cu TSol → 4.43 M t Cu (2.22 M t leachable)

• Resource expanded north, southwest and at depth; Measured mineral resources now reported for Cactus East.

• Drilling Program

• Added 235,000 ft of infill drilling (70,715 m) targeting Parks/Salyer South and step‑out drilling at Cactus West.

• Total 134 infill holes + 45 step‑out holes across a 5.5 km trend; 658 drillholes (≈899 k ft) used for the updated model.

• Technical Parameters (used in resource modeling)

• Mining cost: US$2.43/t (open pit), $27.62/t (underground).
• Processing costs: Oxide heap leach $2.24/t, enriched HL $2.13/t, sulfide mill $8.50/t.

• Royalties: 2.54% (private lands) and ~2.5% (state lands).

• Forward Outlook

• Updated MRE will underpin the pending 2025 Pre‑Feasibility Study (expected Q4 2025).
• Company aims to advance definitive feasibility, permit amendments, and project financing to enable a final investment decision by Q4 2026.

Notable Quotes

• George Ogilvie, President & CEO: “The updated mineral resource estimate reflects the work completed over the past year to upgrade the 2024 PEA to the PFS level… The path forward now is to reflect these updated mineral resource estimates into the pending 2025 PFS… supporting a final investment decision as early as Q4 2026.”

Materiality: Material – Positive (significant increase in measured & indicated copper resources and clear impact on upcoming pre‑feasibility study and future investment decisions).