Mr. George Ogilvie reports

ARIZONA SONORAN ANNOUNCES $25 MILLION BOUGHT DEAL PUBLIC OFFERING OF COMMON SHARES

Arizona Sonoran Copper Company Inc. has entered into an agreement with Raymond James Ltd. and Paradigm Capital Inc. as co-lead underwriters and joint bookrunners, on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 17,241,400 common shares of the company at a price of $1.45 per common share for aggregate gross proceeds to the company of approximately $25-million.

The company has agreed to grant the underwriters an overallotment option to purchase up to an additional 15 per cent common shares at the issue price, exercisable in whole or in part at any time for a period ending 30 days from the closing of the offering.

The net proceeds from the offering will be used for exploration and development at the company's Cactus mine project located in Arizona and for general working capital and corporate purposes.

The offering is expected to close on or about Oct. 9, 2024, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.

The common shares will be offered by way of a short form prospectus to be filed in each of the provinces and territories of Canada, except Quebec, and may be offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended, and in those jurisdictions outside of Canada and the United States which are agreed to by the company and the underwriters, in each case in accordance with all applicable laws and provided that no prospectus, registration or other similar document is required to be filed in those jurisdictions.

About Arizona Sonoran Copper Company Inc.

Arizona Sonoran's objective is to become a mid-tier copper producer with low operating costs and to develop the Cactus and Parks/Salyer projects 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-per-cent 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 is the company's 100-per-cent-owned Parks/Salyer deposit 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 record of successful project delivery in North America complemented by global capital market expertise.

We seek Safe Harbor.