Mr. Paul Harbidge reports

FARADAY COPPER REPORTS GOLD ASSAY RESULTS FROM THE CHILDS ALDWINKLE BRECCIA AT THE COPPER CREEK PROJECT IN ARIZONA

Faraday Copper Corp. has released the results of gold assays from the Childs Aldwinkle breccia at the Copper Creek project in Arizona, United States. The company analyzed archived material, which was not previously assayed for gold, with the aim of increasing data coverage. The results support the company's belief that there is payable gold at the project, which has the potential to unlock further value.

Paul Harbidge, president and chief executive officer, commented: "We are pleased to provide the first results of the gold program after completing analysis of the Childs Aldwinkle breccia. The results show near-surface gold mineralization in the current resource pit shell and demonstrate the potential to add a gold byproduct, further enhancing the value of the project. The team has been able to advance our thesis of payable gold in the resource by utilizing the historical drill core and pulps that previous operators did not analyze for gold. With Childs Aldwinkle assay results now received, the company is currently preparing samples from other high-priority breccias, and we look forward to presenting results as they are available."

Highlights:

• The company significantly increased analytical coverage for gold at Childs Aldwinkle with 743 new gold assay results, in addition to 120 historical gold results.
• Examples of intercepts with new gold assays and reassayed copper include:
  • 219.46 metres at 3.29 per cent copper and 0.31 gram per tonne gold from 24.38 m in drill hole CA-5R;
  • 94.49 m at 1.12 per cent copper and 0.13 g/t gold from 341.38 m in drill hole CA30+3;
  • 56.38 m at 1.32 per cent copper and 0.29 g/t gold from 150.88 m in drill hole CC-2.
• Weighted averages of 0.16 g/t gold and 1.52 per cent copper are calculated for mineralized intercepts for which gold analytical data are available.
• Gold and copper are well correlated on an intercept basis with an overall gold-to-copper ratio of approximately 1:10 at Childs Aldwinkle.
• Historical metallurgical testwork suggests high gold recoveries in the copper concentrate. The company has initiated a metallurgical program to confirm gold recoveries.
• As part of the gold program, copper was reassayed. These results confirm historical data, providing additional confidence in the database.
• Phase 3 drill program is expected to commence in October, 2023.

The gold program

Historically, only a small portion of all samples analyzed for copper were also analyzed for gold. The company is analyzing archived sample material for gold with the aim of increasing data coverage for potential inclusion in future resource updates. In addition to gold assays, samples are being reanalyzed for copper, silver and molybdenum to further validate historical results. Childs Aldwinkle is the first breccia to be analyzed as part of this program.

Gold and copper results for Childs Aldwinkle are presented in an attached table. Gold values were calculated for a total of 28 drill hole intercepts, and the results improve spatial coverage for the Childs Aldwinkle breccia.

The gold and copper intercept values have a strong correlation with a 1:10 gold-to-copper ratio within Childs Aldwinkle. The Childs Aldwinkle breccia domain is estimated to contain approximately 3.3 million tonnes of mineralized material, based on the mineral resource estimate (MRE), as presented in the report titled "Copper Creek Project NI 43-101 Technical Report and Preliminary Economic Assessment," with an effective date of May 3, 2023, and the associated resource pit shell constraints.

The strong correlation between copper and gold at Childs Aldwinkle suggests that precious metals are mineralogically associated with copper and are expected to report to a copper concentrate. The company has initiated a metallurgical program to obtain additional data on gold recoveries, including variability testwork across multiple breccia domains.

The gold-to-copper ratio for the Childs Aldwinkle breccia should not be applied to other breccias. The gold occurrence has not undergone metallurgical and economic assessment, and therefore it does not currently qualify as part of a mineral resource.

Next steps

The company is continuing the reassaying of historical material for potential inclusion of gold in future mineral resource updates. Additional areas are expected to include the Copper Prince and Pole breccias and the Keel underground zone.

The phase 3 drill program is expected to commence in October, 2023, with the following three objectives:

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

The company has commenced a metallurgical program focused on grind-size optimization to test viability of coarse particle flotation, gold deportment to concentrate and further testwork on near-surface mineralization.

The company is targeting an updated technical report in the first half of 2025, which will include results from the phase 2 and phase 3 drill programs, the gold program and metallurgical studies.

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 an independent sample preparation facility, ALS Laboratories, in Tucson, Ariz., was continuously monitored. The samples were taken from archived pulverized rock material (pulps). Pulps were reblended and 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-gram aliquot by fire assay with an ICP-AES finish. A certified reference sample was inserted every 15th to 20th sample. Blanks were inserted every 10th sample. In addition to the 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 persons

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, and Faraday's vice-president of projects and evaluations, Zach Allwright, PEng, both of whom are considered qualified persons 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 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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