Mr. Paul Harbidge reports

FARADAY COPPER REPORTS 14.84 METRES AT 1.61% COPPER WITHIN 30.50 METRES AT 0.95% COPPER NEAR SURFACE AT COPPER CREEK IN ARIZONA

Faraday Copper Corp. has released the final two drill hole results from the phase 2 program at the Copper Creek project, located in Arizona, United States. These two holes were drilled to test the vertical extension of high-grade breccia mineralization above the American Eagle underground footprint and target previously undrilled areas.

Paul Harbidge, president and chief executive officer, commented: "The final results from our phase 2 drill program have continued to show the upside to the existing resource that formed the basis for the PEA [preliminary economic assessment]. It is particularly exciting to see the high-grade results in the Bald breccia, which is located above the American Eagle porphyry. This highlights the potential to identify additional vertically extensive mineralized zones on the project, similar to Mammoth-Keel. We intend to further test this area as part of our phase 3 drill program, which is expected to commence in the fourth quarter of this year."

Highlights:

• Intersected 30.50 metres at 0.95 per cent copper, 3.62 grams per tonne silver and 0.02 g/t gold from 213.80 m, including 14.84 m at 1.61 per cent copper, 2.05 g/t silver and 0.04 g/t gold from 229.46 m, in drill hole FCD-23-037 at the Bald breccia (see an attached table).
• This result confirms near-surface, high-grade breccia mineralization within the Bald resource pit shell and highlights the potential for resource expansion above the American Eagle porphyry.
• Results from phase 2 drilling, along with new geophysical data, spectral data and geological mapping, will contribute to ranking and prioritizing targets for a 20,000-metre phase 3 drill program planned to commence in the fourth quarter of 2023.
• A metallurgical program has commenced and is focused on grind size optimization, gold deportment and further testwork on near-surface mineralization.
• Analysis of historical drill core for gold in selected breccias is in progress.

Drill hole FCD-23-037 was collared southwest of the Bald breccia and drilled to the northeast. The hole targeted mineralization originally identified in a historical reverse circulation drill hole. Hole FCD-23-037 was drilled as diamond core and demonstrates that mineralization is hosted in a crackle breccia consisting of angular, intensely sericite altered granodiorite clasts, cemented by chalcopyrite and pyrite. The breccia was intersected approximately 500 m above the American Eagle underground footprint. Historical wide-spaced vertical drilling had not tested the vertical extension of this breccia, which remains open. Follow-up drilling is planned in this area as part of the company's phase 3 program.

Drill hole FCD-23-036 was collared southwest of the Marsha pit shell and drilled toward the northeast. The hole crosses a gap in drilling and confirms low-grade mineralization 160 m below the bottom of the Marsha pit shell used to constrain the MRE. The drill hole highlights that the Marsha area remains prospective for resource expansion.

Near-surface breccia potential at American Eagle

Historical drilling in the American Eagle area was largely near-vertical and widely spaced to target the shallow dipping veins, which are key mineralization hosts in the underground resource. The historical drilling is not optimal for delineating the steeply dipping veins and breccia zones near surface. Angled drilling in this area is planned as part of the phase 3 program to target open-pit resource expansion.

Historical results, together with drill hole FCD-23-037, between the Mammoth and Bald pit shells, spanning approximately one kilometre, highlight the potential for mineralization to be delineated above the American Eagle porphyry between surface and 500 m depth. Some examples of historical drill results indicating near-surface potential include:

• 18.29 m at 0.94 per cent Cu from 85.34 m (AE-3R);
• 18.23 m at 0.84 per cent Cu from 39.62 m (S-14);
• 27.32 m at 0.51 per cent Cu from 186.54 m (RAE-11-063);
• 21.33 m at 0.34 per cent Cu from 6.10 m (NE-4);
• 70.10 m at 0.38 per cent Cu from 176.78 m (S-17).

Next steps

Phase 2 drilling, which included a total of 28 drill holes, was completed in June, 2023. This news release includes the results of the final two drill holes.

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

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

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 359 samples have been submitted 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 has commenced and is focused on grind size optimization to test viability of coarser particle flotation, gold deportment to concentrate and further testwork on near-surface mineralization.

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.

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