Arizona Sonoran Copper Company has provided a comprehensive update on the progress of key workstreams aimed at advancing its Cactus Project in Arizona towards a Pre-Feasibility Study (PFS), anticipated in the second half of 2025. This follows the positive 2024 Preliminary Economic Assessment (PEA) which outlined a low-capital intensity open-pit operation with the potential to produce over 116,000 short tons (232 million pounds) of copper cathodes annually.

ASCU's activities in 2025 are strategically focused on de-risking the Cactus Project as it progresses through technical studies, ultimately leading to a potential construction decision following a definitive feasibility study next year.

Significant headway has been made across several critical areas. Engineering work for the project is approximately 53% complete, with M3 Engineering leading as the consultant. Trade-off studies, along with hydrology and geotechnical programs, are even further advanced at around 70% completion. These efforts are geared towards optimizing project economics, managing environmental factors such as dust, noise, and vibrations, and enhancing throughput and flow sheet efficiency for a more consistent output and cash flow.

Hydrology studies, managed by Clear Creek Associates, are proceeding as planned, with vibrating wireline piezometers installed in eight drill holes to collect crucial groundwater data for the ongoing hydrologic model. Geotechnical drilling is now complete, and the results are pending final analysis. Base case mine planning is also well underway, with the project team actively exploring various opportunities to further improve the project's economic viability. Notably, a trial excavation of the Cactus West pit using a surface continuous miner has been conducted to assess its potential application in future operations.

Metallurgical testing continues to yield encouraging results. Completed column tests on Parks/Salyer (including MainSpring) material indicate a positive correlation with the 2024 PEA results, suggesting strong copper recovery potential. Additional primary sulphide column testing using conventional heap leaching is currently in progress. Furthermore, the Company plans to sample the Cactus West pit lake in June to analyze the potential use of its solution within the PFS flow sheet.

The ongoing infill drilling program, targeting 130,000 feet (39,600 meters), is 67% complete, with final results expected in July. To date, 27% of assays have been reported, and the geology and assay results received align with expectations, suggesting a high conversion rate of the current inferred Mineral Resource Estimate (MRE) to the indicated category, particularly in the southern area of the Parks/Salyer deposit.

In terms of land use management, Pinal County has selected Cactus' stockpiled alluvium for road construction material, demonstrating a positive community engagement aspect. Approximately 11,000 cubic yards of alluvium have already been moved offsite for local road improvement and construction.