An anonymous representative of Tembo reports

TEMBO ANNOUNCES SALE OF SHARES OF ARIZONA SONORAN

Tembo Capital Mining GP III Ltd., acting in its capacity as general partner to Tembo Capital Elim Co-Investment LP, has agreed to sell 17.5 million common shares of Arizona Sonoran Copper Company Inc. at a price of $2.27 per share for total gross proceeds of $39,725,000 pursuant to a bought deal arrangement with Scotia Capital Inc. The company will not receive any of the proceeds from the transaction, which is expected to close on or about July 14, 2025.

Immediately prior to entering into the transaction, Tembo beneficially owned, directly or indirectly, 33,298,562 shares, which represented approximately 18.75 per cent of the issued and outstanding shares of the company on a non-diluted basis. Following closing of the transaction, Tembo will beneficially own, directly or indirectly, 15,798,562 shares, representing approximately 8.90 per cent of the issued and outstanding shares of the company on a non-diluted basis.

The securities of the company held by Tembo are held for investment purposes. Tembo may acquire additional securities of the company on the open market or through private acquisitions or sell the securities on the open market or through private dispositions in the future depending on market conditions, general economic and industry conditions, the company's business and financial condition, reformulation of plans, and/or other relevant factors.

A copy of the early warning report in respect of the disposition of the shares may be requested from Tembo by mail at fourth floor, Plaza House, Admiral Park, St. Peter Port, Guernsey, GY1 2AL, and will be available under the company's SEDAR+ profile.

We seek Safe Harbor.