News

Casa Grande, AZ and Toronto, ON, August 23, 2022 – Arizona Sonoran Copper Company Inc. (TSX:ASCU) (“ASCU” or the “Company”) announces assays from the final 6 drill holes at the Parks/Salyer (“P/S”) Project to complete its initial 12-hole (27,722.6 ft | 8,450 m) exploration program (see FIGURES 1-10). These results extend mineralization to the north and the west of the P/S Exploration Target and demonstrate the continuity of grade and tonnage within the porphyry copper target located 1.3 mi (2 km) from the Cactus Mine. The Company continued its 500 ft (152 m) centre program to the west and eastward onto newly leased land (see PR dated Feb 10, 2022) with an additional 14 – hole program (all holes are complete, with assays pending).

As a result of ongoing drilling results, ASCU has moved to a 105,000 ft (32,000 m) drilling program with two active drill rigs, to infill the P/S Project to 250 ft (76 m) centres. By year end, ASCU is expecting to have completed a total of 165,000 ft (50,290 m) of drilling on the Project.

Highlights:

• ECP-074: 253.7 ft (77.3 m) @ 1.34% TCu, 1.30% Cu TSol, 0.011% Mo (enriched)
  • Incl. 111.2 ft (33.9 m) @ 1.79% TCu, 1.75% Cu TSol, 0.013% Mo
  • And 490.8 ft (149 m) @ 0.30% TCu, 0.004% Mo (primary)
• ECP-080: 191.0 ft (58.2 m) @ 1.26% TCu, 1.20% Cu TSol, 0.033% Mo (enriched)
  • And. 45 ft (13.7 m) @ 2.37% TCu, 2.25% Cu TSol, 0.032% Mo (enriched)
  • And 664 ft. (202.4 m) @ 0.29% TCu, 0.004% Mo (primary)
• ECP-081: 237 ft (72.3 m) @ 0.70% TCu, 0.61% Cu TSol (oxide)
• ECP-075: 57.2 ft (17.4 m) @ 3.63% TCu, 3.47% Cu TSol, 0.013% Mo (enriched)
  • Includes 3.4 ft (1 m) @ 12.57% TCu, 10.54% Cu TSol, 0.024% Mo (capped at 10% TCu)
• Expanding Exploration Target footprint:
  • 1,000 ft (305 m) to the west (ECP-075 and ECP-074) in the north
  • 500 ft (152 m) to the north (ECP-081)

George Ogilvie, Arizona Sonoran President and CEO commented, “Results from the initial 12-hole drilling program confirms the encouraging target and justifies the focus we’ve placed on Parks/Salyer. Assays continue to demonstrate a porphyry copper system with similar grade to the Cactus East deposit, with greater thicknesses, and within the broader mineralized system on which our Cactus Mine, Parks/Salyer Project and even Northeast Extension are situated. We will continue to drill out the P/S Project demonstrating the optionality of scale and growth beyond our Cactus Mine as a new major discovery for our Company. Our goal in the short term will be to infill drill Park Salyer on 250 ft centres, allowing for a Mineral Resource Estimate predominantly in the Indicated Category that can then be included in a Pre-Feasibility Study.”

Drilling Program Recap
The Company’s 100%-owned Parks/Salyer Project is located 1.3 mi (2 km) down trend to the southwest of the Cactus Project on private land. The P/S Project is interpreted to represent a north trending horst block of porphyry copper mineralization similar in characteristics to that of the Cactus Deposits. Results to date at Parks/Salyer support that interpretation with mineral zonation that is consistent with Cactus: oxide, chalcocite enrichment, and primary chalcopyrite-covellite-molybdenite mineralization (see FIGURES 1-10). The thick, higher grade enrichment mineralization seen to date at P/S is very similar to that seen in Cactus East, with greater thicknesses. Exploration drilling has been undertaken from the Company's southern property boundary northward into the main project area. It has delineated a broad zone of flat lying, supergene enrichment mineralization that extends through all holes drilled in the initial 12-hole exploration program, including extending mineralization another 500 ft (152 m) west and 1,000 ft (304 m) east from holes reported publicly to date. Drilling has defined a mineralized zone that is 2,000 ft (610 m) north-south and 2,500 ft (762 m) east-west. Both enriched and primary mineralization are displaced downward to the west by the western bounding fault that forms the west side of the Parks/Salyer horst block. Primary mineralization is persistent at depth with thickness increasing to the northwest consistent with the dip of the underlying Basement Fault. Primary copper grades diminish northward as the strong phyllic alteration (which hosts better copper grades), transitions into what may be barren potassic core further north.

TABLE 1: Drilling Highlights

1. Intervals are presented in core length and are drilled with very near vertical dip angles.
2. Drill assays assume a mineralized cut-off grade of 0.5% CuT reflecting the potential for heap leaching in the case of Oxide and Enriched based on underground material, or in the case of Primary material using a 0.1% CuT cutoff to provide typical average grades. Holes were terminated below the basement fault.
3. Oxide and enrichment reported in hole ECP-071 was below the reporting cutoff, but was reported to show the grade tenor of the mineralization present.
4. Assay results are not capped. Intercepts are aggregated within geological confines of major mineral zones.
5. True widths are not known.

Table 2: Drilling details

Quality Assurance / Quality Control
Drilling completed on the project in 2020 and 2021 was supervised by on-site ASCU personnel who prepared core samples for assay and implemented a full QA/QC program using blanks, standards, and duplicates to monitor analytical accuracy and precision. The samples were sealed on site and shipped to Skyline Laboratories in Tucson AZ for analysis. Skyline’s quality control system complies with global certifications for Quality ISO9001:2008.

Technical aspects of this news release have been reviewed and verified by Allan Schappert – CPG #11758, who is a qualified person as defined by National Instrument 43-101– Standards of Disclosure for Mineral Projects.

Links from the Press Release

FIGURES 1-10: https://arizonasonoran.com/projects/exploration/maps-and-figures/  
P/S Exploration Target announced Feb 10, 2022: https://arizonasonoran.com/news-releases/arizona-sonoran-drills-595-ft-181.4-m-of-1.29-cut-at-parks-salyer-and-increases-existing-private-land-package/

Neither the TSX nor the regulating authority has approved or disproved the information contained in this press release.

About Arizona Sonoran Copper Company (www.arizonasonoran.com | www.cactusmine.com)
ASCU’s objective is to become a mid-tier copper producer with low operating costs, develop the Cactus Project that could generate robust returns for investors, and provide a long term sustainable and responsible operation for the community and all stakeholders. The Company's principal asset is a 100% interest in the Cactus Project (former ASARCO, Sacaton mine) which is situated on private land in an infrastructure-rich area of Arizona. Contiguous to the Cactus Project the Company is also exploring on its 100% owned Park Salyer property that could allow for a phased expansion of the Cactus Mine once it becomes a producing asset. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America complemented by global capital markets expertise.

For more information
Alison Dwoskin, Director, Investor Relations
647-233-4348
adwoskin@arizonasonoran.com

George Ogilvie, President, CEO and Director 
416-723-0458
gogilvie@arizonasonoran.com

Forward-Looking Statements
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of ASCU to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, projected cash operating costs, failure to obtain regulatory or shareholder approvals.

Although ASCU has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and ASCU disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.