Faraday Copper Shareholders Approve Share Issuance in Connection with the Acquisition of the San Manuel Project

Faraday Copper Corp. shareholders overwhelmingly approved the share issuance resolution required to finalize the acquisition of the San Manuel property from BHP Group Limited. The vote resulted in 99.97% in favor, totaling 188,209,061 votes, with only 0.03% against. BHP and its subsidiaries were excluded from the voting base, which represented 64.32% of outstanding shares.

The Investment Canada Act closing condition has been satisfied. The transaction remains subject to customary closing conditions and is expected to close by the end of the third quarter of 2026.

Faraday Copper Corp. (FDY) has completed a standard corporate governance milestone related to a previously announced transaction. The market was fully aware of the pending shareholder vote following the definitive agreement signed in July 2026 and the circular filed in late July.

The approval removes a major procedural hurdle and significantly reduces execution risk, but it does not introduce new financial, operational, or geological data. Stock price action leading up to the vote was largely driven by anticipation of the deal's progression. The outcome aligns with expectations and does not alter the fundamental valuation thesis or the 30% equity stake structure agreed upon with BHP. The impact is incremental and procedural, confirming the deal's trajectory toward closing rather than changing the company's risk/reward profile.

Faraday Copper Corp. (FDY) is an exploration and development-stage company focused on copper, molybdenum, and silver in Arizona, USA. Its flagship asset is the Copper Creek Project, a 100%-owned, large copper deposit located approximately 80 km northeast of Tucson. The project features high-grade, near-surface, breccia-hosted mineralization with significant exploration upside, as less than 15% of over 320 known breccias have been drill tested.

The company is also pursuing the proposed acquisition of the San Manuel Property, a historic copper mine operated by BHP from 1955 to 1999, which produced over 4.5 million tonnes of copper. The property includes legacy deposits, plant sites, tailings facilities, and approximately 27,000 acres of private land.

Faraday Copper’s development pathway prioritizes near-surface copper cathode production via heap leach, followed by open-pit sulphide mining, and eventually underground operations. The company is in the advanced exploration stage, having completed a Preliminary Economic Assessment (PEA) in May 2023. No NI 43-101 compliant reserves are reported. Phase IV drilling, with a 40,000 m target, was paused in June 2026 pending the San Manuel deal.