Exploration - Overview

Located 1.3 miles down trend to the southwest from the Cactus Project, ASCU's 100%-owned Parks/Salyer project demonstrates the same geological characteristics as the Cactus Project. Parks/Salyer is part of the same high grade porphyry copper system as the Cactus Project and is also located within a northwest trending horst block of bedrock covered by later conglomerates. Supporting data at Parks/Salyer includes an IP survey, historic IP anomalies, historic drilling, an ionic leach program and two ASCU exploration holes completed in 2020.

Parks/Salyer is located on contiguous ASCU-owned land next to the Cactus Project. This provides ASCU the opportunity to grow access to further copper resources, resulting in potential increase in mine life at the Cactus Project and leverage off planned Cactus Project infrastructure and equipment. Further drilling at Parks Salyer is targeted as part of the upcoming work programs.

The figure below is a NE oriented long section displaying the horst and graben block fault and mineralization interpretation of the Parks / Salyer deposit in the SW through to the NE Extension mineralization in NE, and including the existing Cactus West pit. The red boxes indicate ASCU controlled property boundaries.

In addition to the identified potential to bring more mineralized material into the mine plans and increase overall mineral resources, the total existing land package of over 4,600 acres provides ASCU significant operational flexibility in considering scaling up operations as organic expansion targets are further developed.