An anonymous director reports

FARADAY COPPER ANNOUNCES UPSIZE TO PREVIOUSLY ANNOUNCED BOUGHT DEAL FINANCING TO C$34.8 MILLION

In connection with the bought-deal financing announced on Feb. 2, 2023, Faraday Copper Corp. has entered into an amending agreement with Canaccord Genuity Corp., on behalf of a syndicate of underwriters that includes PI Financial Inc., TD Securities Inc. and Stifel GMP, to increase the size of the previously announced bought-deal financing from $30-million to $34.8-million consisting of 43,478,000 common shares of the company at a price of 80 cents per common share. Fort Capital Partners acted as special adviser to the company in relation to the bought-deal financing and other strategic matters.

The company will grant the underwriters an option to purchase up to an additional 6,521,700 common shares to cover overallotments, if any, and for market stabilization purposes at a price of 80 cents per overallotment option common share for additional gross proceeds of up to $5,217,360, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing date (as defined herein). In the event that the overallotment option is fully exercised by the underwriters, the gross proceeds from the offering would be $39,999,760.

The company intends to use the net proceeds from the upsized offering to finance the purchase of a 32,000-acre ranch land package adjacent to the company's Copper Creek property, for exploration and development of the Copper Creek project, as well as for working capital and general corporate purposes as set out in the prospectus supplement.

The common shares will be issued by way of a prospectus supplement that will be filed in all provinces and territories of Canada, other than Quebec, under the company's base shelf prospectus dated Oct. 21, 2022. The common shares may also be sold in the United States on a private placement basis, pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and other jurisdictions outside of Canada provided that no prospectus filing or comparable obligation arises.

The upsized offering is scheduled to close on or about Feb. 14, 2023, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Toronto Stock Exchange and the securities regulatory authorities.

About Faraday Copper Corp.

Faraday Copper is a Canadian exploration company focused on advancing its flagship copper project in the United States. The Copper Creek project, located in Arizona, is one of the largest undeveloped copper projects in North America with open-pit and bulk underground mining potential. The company is well financed to deliver on its key milestones and benefits from a management team and board of directors with senior mining company experience and expertise.

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