Mr. Paul Harbidge reports

FARADAY COPPER REPORTS 17.70 METRES AT 0.96% COPPER AND 0.12 G/T GOLD WITHIN 101.31 METRES AT 0.45% COPPER AT COPPER CREEK IN ARIZONA

Faraday Copper Corp. has released the results from six drill holes at its Copper Creek project, located in Arizona, United States. The holes were drilled to target the potential expansion of the open-pit mineral resources.

Paul Harbidge, president and chief executive officer, commented: "The results from our phase 2 drill program continue to show the exploration upside to the existing resource that formed the basis for the PEA [preliminary economic assessment]. Three drill holes have identified the opportunity to expand the near-surface mineral resource along the eastern breccia trend and combine two open pits. Additionally, we have identified the potential for payable gold at the Pole breccia.

"With our phase 2 drill program now completed and the results from 26 of 28 holes released, our focus in the third quarter will be on integrating and analyzing airborne magnetic, electromagnetic, drill core, geochemical and spectral data to rank and prioritize targets for a 20,000-metre phase 3 drill program, planned to commence in the fourth quarter of 2023. We are continuing to analyze historical drill core for gold and will be commencing a metallurgical program shortly. We look forward to providing updates as results are received."

Highlights:

• Intersected 101.31 metres at 0.45 per cent copper and 6.69 grams per tonne silver from surface, including 17.70 m at 0.96 per cent copper, 3.33 g/t silver and 0.12 g/t gold, from 68.16 m in drill hole FCD-23-032 at the Pole breccia;
• Intersected 42.03 m at 0.35 per cent copper and 2.99 g/t silver from 74.03 m as well as 28.97 m at 0.24 per cent copper and 0.99 g/t silver from 130.83 m in drill hole FCD-23-033 at the Pole breccia, outside of the mineral resource estimate (MRE);
• Intersected 43.29 m at 0.29 per cent copper and 1.13 g/t silver from 75.58 m at the B-24 breccia in drill hole FCD-23-034, outside of the MRE;
• These three drill holes demonstrate the potential for near-surface resource expansion between the Copper Prince and Mammoth open pit shells.

Drill hole FCD-23-032 was collared west of the Pole breccia and drilled to the northeast at a 50-degree dip. The mineralization starts from surface and occurs in sheeted veins and transitions into mineralized hydrothermal breccia from 68.16 m to 85.86 m. The Pole breccia is situated between the Copper Prince and Mammoth open pit shells used to constrain the MRE.

Drill hole FCD-23-033 was collared west of the Pole breccia and drilled to the northeast, at a steeper angle than FCD-23-032, to test the southwestward extension of the vein-hosted mineralization surrounding the Pole breccia. The hole intersected three mineralized intervals, of which two, totalling 70 m, are located outside the MRE pit shell. Both holes drilled at the Pole breccia demonstrate the potential for resource expansion and open pit consolidation along the eastern breccia trend, which includes the Copper Prince and Mammoth breccias.

Drill hole FCD-23-034 was collared west of the B-24 breccia and includes two mineralized intersections in an area between the Copper Prince and Mammoth open pit shells previously considered as waste in the MRE. The hole ends in mineralization and has the potential to connect these two resource pits.

Drill hole FCD-23-030 was collared in the previously undrilled Rye area and drilled to the northwest. This hole intersected short intervals of igneous-cemented breccia and several zones of disseminated pyrite, including one at a grade of one g/t silver over 22.30 m from 242.49 m in a sericite-altered granodiorite porphyry. The abundance of pyrite, which commonly occurs above copper-bearing sulphides in an outer alteration halo, suggests that the hole remained in the shallow portions of the mineral system. The area warrants additional drilling.

Drill hole FCD-23-031 was collared in the Rye area and drilled to the south. It intersected granodiorite porphyry in the upper half of the hole and veinlets containing pyrite cutting glory hole volcanics in the lower half of the hole. No copper mineralization was identified.

Drill hole FCD-23-035 was collared east of Copper Knight breccia and drilled toward the east to test a previously undrilled breccia target. It intersected an approximately 39-metre-wide zone of elevated copper from 84.80 m at 0.11 per cent copper and 0.45 g/t silver associated with intense sericite alteration affecting granodiorite and breccia zones. Although this hole did not identify mineralization above the cut-off grade used for the MRE, the results indicate that this area remains prospective for copper mineralization and merits follow-up.

Next steps

Phase 2 drilling, which includes a total of 28 drill holes, was completed in June, 2023. The results for 26 drill holes have been released to date. The assay results for the remaining two completed drill holes will be released as they are received, analyzed and confirmed by the company.

To rank and prioritize targets for the 20,000-metre phase 3 drill program, the company is integrating and interpreting multiple data sets, including geological mapping, drill core, airborne magnetic, electromagnetic, spectral and geochemical data. The phase 3 drill program is scheduled to commence in the fourth quarter of 2023, with the following three objectives:

• Reconnaissance drilling on new targets;
• Expanding the MRE;
• Better delineating high-grade mineralized zones.

An assaying program of historical drill core samples has been initiated to determine the potential for inclusion of gold in future resource updates. Historically, approximately 12 per cent of all core samples analyzed for copper were also analyzed for gold. As part of the program, the first breccia to be analyzed is Childs Aldwinkle, for which the company has submitted 453 samples to the laboratory. Results will be released as they are received, analyzed and confirmed by the company. Upon completion of the Childs Aldwinkle assaying, the Copper Prince, Pole and Copper Giant breccias, as well as the Keel underground zone, will be prioritized for gold analysis.

The phase 2 metallurgical program will commence in the third quarter of 2023 and will focus on grind size optimization to test viability of coarser particle flotation, gold deportment to concentrate and further testwork on near-surface oxide material.

Sampling methodology, chain of custody, quality assurance/quality control

All sampling was conducted under the supervision of the company's geologists, and the chain of custody from Copper Creek to the independent sample preparation facility, ALS Laboratories in Tucson, Ariz., was continuously monitored. The samples were taken as one-half core, over two m core length. Samples were crushed and pulverized, and sample pulps were analyzed using industry-standard analytical methods, including a four-acid ICP-MS multielement package and an ICP-AES method for high-grade copper samples. Gold was analyzed on a 30 g aliquot by fire assay with an ICP-AES finish. A certified reference sample was inserted every 20th sample. Coarse blanks were inserted every 20th sample. Approximately 5 per cent of the core samples were cut into one-fourth core and submitted as field duplicates. On top of internal quality assurance/quality control protocol, additional blanks, reference materials and duplicates were inserted by the analytical laboratory according to its procedure. Data verification of the analytical results included a statistical analysis of the standards and blanks that must pass certain parameters for acceptance to ensure accurate and verifiable results.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Faraday's vice-president of exploration, Dr. Thomas Bissig, PGeo, who is a qualified person under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Faraday Copper Corp.

Faraday Copper is a Canadian exploration company focused on advancing its flagship copper project in Arizona, United States. The Copper Creek project 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.

We seek Safe Harbor.