Mr. George Ogilvie reports

ARIZONA SONORAN INTERSECTS 621 FT OF 2.0% TOTAL COPPER AT PARKS/SALYER INFILL DRILLING WITHIN 872.5 FT OF 1.64% CUT OF CONTINUOUS MINERALIZATION

Arizona Sonoran Copper Company Inc. has completed 60 per cent of its 105,000-foot (32,000-metre) infill to indicated drilling program at Parks/Salyer (P/S), located approximately 1.3 miles (two kilometres) southwest of the company's Cactus mine project. A total of 27 holes have now been drilled out of an anticipated 46 holes, with assays received to date for 15 holes, including the five reported in this release.

The program continues to support the tenor of mineralization while reducing drill spacing from 500 feet (150 metres) to 250 feet (76 metres) centres, suitable to upgrade the resource from the inferred category to the indicated category. Drilling has been staged to infill areas closest to the inferred high-grade core initially before expanding out toward the west.

Highlights:

• ECP-108 grade thickness surpasses the prior best intercept on the property:
  • ECP-108: 872.5 feet (265.9 m) at 1.64 per cent CuT of continuous mineralization, including:
    • 621.0 feet (189.3 m) at 2.00 per cent CuT, 1.58 per cent Cu TSol (total soluble copper) and 0.013 per cent molybdenum (enriched);
    • Including 108.0 feet (32.9 m) at 2.58 per cent CuT, 2.45 per cent Cu TSol and 0.009 per cent Mo;
    • 251.5 feet (76.7 m) at 0.73 per cent CuT and 0.019 per cent Mo (primary);
• ECP-107: 1,188.9 feet (362.4 m) at 0.68 per cent CuT of continuous mineralization, including:
  • 489.5 feet (149.2 m) at 1.19 per cent CuT, 1.13 per cent Cu TSol and 0.013 per cent Mo (enriched);
  • Including 139.3 feet (42.5 m) at 2.42 per cent CuT, 2.39 per cent Cu TSol and 0.010 per cent Mo;
  • 699.4 feet (213.2 m) at 0.33 per cent CuT and 0.012 per cent Mo (primary);
• ECP-110: 762.2 feet (232.3 m) at 0.90 per cent CuT of continuous mineralization, including:
  • 419.0 feet (127.7 m) at 1.15 per cent CuT, 1.01 per cent Cu TSol and 0.005 per cent Mo (enriched);
  • 343.2 feet (104.6 m) at 0.58 per cent CuT and 0.011 per cent Mo (primary);
• ECP-111: 443.0 feet (135.0 m) at 0.78 per cent CuT, 0.71 per cent Cu TSol and 0.035 per cent Mo (enriched).

Note: True widths are not known.

George Ogilvie, president and chief executive officer of Arizona Sonoran, commented: "This drilling continues to demonstrate the consistency of copper grade and thickness in both the leachable and primary sulphide mineralization and within the high-grade core of the Parks/Salyer deposit. Two drills will finish the remaining 40 per cent of the drill program this quarter, while a third drill rig will move to the northeast extension to conduct exploration holes. This infill drilling will allow us to upgrade the Parks/Salyer resource from its current inferred category to an indicated category, that can then be fed into our rescoped PFS [prefeasibility study] in late 2023/early 2024."

Exploration drilling program recap

The current 105,000-foot (32,000-metre) drilling program is reducing drill spacings to 250 feet, aimed at upgrading the mineral resource category to indicated in support of the potential definition of maiden reserves in the coming PFS. To date, the drilling of 27 infill core holes (59,289 feet; 18,071 m) has defined a high-grade zone within the eastern half of the deposit, which is currently being pursued westward with the remainder of the drilling, as demonstrated by the grade/thickness map of completed drilling.

Chalcocite and covellite are the dominant copper species in the enriched mineralization, replacing primary pyrite and chalcopyrite in their original depositional habits, such as veins, breccia fillings, voids and disseminations. These replacement styles are representative of the company's enriched mineral zone. Chalcocite also tends to build on itself, resulting in zones of higher-grade mineralization where the enrichment fluids had time and opportunity to continue the secondary enrichment process.

Quality assurance/quality control

Drilling completed on the project between 2020 and 2022 was supervised by on-site Arizona Sonoran personnel, who prepared core samples for assay and implemented a full quality assurance/quality control program using blanks, standards and duplicates to monitor analytical accuracy and precision. The samples were sealed on site and shipped to Skyline Laboratories in Tucson, Ariz., for analysis. Skyline's quality control system complies with global certifications for quality (ISO 9001:2008).

Technical aspects of this news release have been reviewed and verified by Allan Schappert, CPG No. 11758, who is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Arizona Sonoran Copper Company Inc.

Arizona Sonoran's objective is to become a mid-tier copper producer with low operating costs and to develop the Cactus and Parks/Salyer projects that could generate robust returns for investors and provide a long-term sustainable and responsible operation for the community and all stakeholders. The company's principal asset is a 100-per-cent interest in the Cactus project (formerly ASARCO; Sacaton mine) which is situated on private land in an infrastructure-rich area of Arizona. Contiguous to the Cactus project is the company's 100-per-cent-owned Parks/Salyer deposit that could allow for a phased expansion of the Cactus mine once it becomes a producing asset. The company is led by an executive management team and board that have a long-standing record of successful project delivery in North America complemented by global capital markets expertise.

We seek Safe Harbor.