Mr. Paul Harbidge reports

FARADAY COPPER INTERSECTS 1.31% COPPER OVER 22.65 METRES WITHIN 50.20 METRES AT 0.74% COPPER NEAR SURFACE AT THE BANJO BRECCIA

Faraday Copper Corp. has provided an exploration update and has released the results of one drill hole from its continuing phase 3 drill program at the Copper Creek project, located in Arizona. The hole was drilled to evaluate the near-surface mineralization above the recently discovered Banjo breccia in the American Eagle area.

Paul Harbidge, president and chief executive officer, commented: "It is very exciting that this result further delineates the recently discovered Banjo breccia and now outlines 400 vertical metres of mineralization from the surface outcrop. The nature of mineralization in this hole suggests significant concentration of copper through supergene enrichment. To date, approximately 75 per cent of our phase 3 drilling has been focused on the discovery of additional near-surface mineralization outside the resource area to further unlock the potential scale of the project."

Highlights:

• At the Banjo breccia, drill hole FCD-24-074 intersected 22.65 metres at 1.31 per cent copper within 50.20 m at 0.74 per cent copper from 46.20 m.
• This hole, together with previous drilling and surface geological mapping, demonstrates that mineralization at Banjo extends from surface to a 400-metre depth and remains open.
• Copper Creek boasts significant exploration upside with several new high-priority targets being drill tested, including:
  • The Rum area features porphyry-hosted copper oxide mineralization at surface and several breccias over an area of approximately 250 m by 400 m, located 700 m north of the resource area.
  • The American Eagle area hosts numerous untested breccias with anomalous copper at surface, and drilling is currently focused on further delineating mineralization and testing new breccia targets.

The American Eagle area, as mapped on surface, covers approximately 800 m by 1,000 m, and is host to numerous prospective breccias and porphyries, which have strong copper geochemical signatures. These surface expressions locate above the large underground porphyry mineral resource, which has an approximately 500-metre-to-1,100-metre depth below surface. Historically, the near-surface mineralization was not adequately tested as previous drilling was vertical to steeply inclined. Mapped geology, isolated historical drill intercepts and historical small-scale mining highlight the potential for near-surface mineralization. The company has reported assay results for 11 drill holes from this area as part of the current program (for drill holes not reported herein, refer to news releases dated June 25, 2024, July 25, 2024, Aug. 21, 2024, and Sept. 24, 2024). These results provide a broad framework of the geology, structure and alteration, and confirm the potential for significant near-surface copper mineralization. Drilling continues in the area to test additional previously undrilled breccias including the Courthouse, Jailhouse, Post Office and Giuseppe breccias. Follow-up drilling is planned at the Prada, American Eagle and Banjo breccias.

Drill hole FCD-24-074 was collared approximately 200 m northeast of the American Eagle breccia and 270 m north of the collar of the discovery hole for Banjo, FCD-24-070, and drilled to the east. In addition to targeting near-surface mineralization, the hole was also drilled to collect geotechnical data. It started in granodiorite and intersected hydrothermal breccia from 47 m to 80 m. Granodiorite and granodiorite porphyry dominates below the breccia to the end of the hole. The hydrothermal breccia is characterized by intense sericite and kaolinite alteration. The copper is contained in chalcocite and chalcopyrite, which occur disseminated and as breccia cement. The proximity to surface and mineralogy suggest that supergene copper enrichment occurred.

District exploration

A detailed district-scale geological map has been compiled using new and historical information. This, together with geophysical data, formed the basis of a refined model for the structural evolution of the district, which, in turn, supports exploration targeting and prioritization.

The current interpretation suggests that the Copper Creek batholith, Laramide porphyries and breccias were emplaced approximately 63 million to 61 million years ago, in the hangingwalls of northwest-trending Laramide thrust faults, commonly near the intersection of important east-to-northeast-trending extensional faults likely inherited from the Precambrian basement. The Laramide thrust faults were later reactivated as normal faults during Miocene basin and range extension. This structural arrangement divides the district into segments characterized by different levels of exhumation.

Thirty-four targets have been identified, ranging from early conceptual to mineral resource targets. In addition to drilling in the American Eagle area, drilling has commenced in the Rum area, which is located approximately 700 m northwest of the resource. Rum includes porphyry with copper oxide mineralization and hydrothermal breccias exposed over an area of 250 m to 400 m.

Next steps

Phase 3 drilling continues with the current focus on near-surface mineralization in the American Eagle and Rum areas.

To date, through the combined phase 2 and phase 3 drill programs, which are not included in the mineral resource estimate, the company has released results from 65 drill holes as follows:

• Thirty-eight drill holes were drilled on new targets that are entirely outside of the resource boundary.
• Twenty drill holes were stepout holes testing extensions to the mineral resource.
• Seven drill holes were drilled within the resource area, targeting expansion of the higher-grade cores.

The company expects to include over 30,000 metres of incremental drilling to the resource update planned for 2025, with the new targets representing a significant opportunity to enhance the project value.

The assay results for additional completed drill holes will be released as they are received, analyzed and confirmed by the company.

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

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-metre 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-gram aliquot by fire assay with an ICP-AES finish. A certified reference sample was inserted every 20th sample. Coarse and fine 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 QA-QC protocol, additional blanks, reference materials and duplicates were inserted by the analytical laboratory according to their procedure. Data verification of the analytical results included a statistical analysis of the standards and blanks that must pass certain limits 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, 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 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 significant district-scale exploration 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. Faraday trades on the Toronto Stock Exchange under the symbol FDY.

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