Ms. Alison Dwoskin reports

ARIZONA SONORAN RECEIVES ITS MINED LAND RECLAMATION PERMIT

Arizona Sonoran Copper Company Inc. has received the mined land reclamation permit (MLRP) from the Arizona State Mine Inspector's Office for the Cactus mine project following the company's application in December of 2022. The MLRP is the primary financial assurance document requiring the operator to bond for the full reclamation of the property after mining operations have concluded.

Travis Snider, Arizona Sonoran Copper vice-president of sustainability and external relations, commented: "We received notification of the permit being administratively accepted in December. We are thrilled to have received the MLRP within 3-1/2 months. This is a reflection of the accountability and professionalism at the Arizona State Mine Inspector's Office. Along with the other state and county agencies, these timely approvals continue to give us the confidence about our efforts to redevelop the Sacaton mine into the Cactus project. All of these agencies have been instrumental in our success."

The MLRP is a state-level permitting process that governs mine sites and ensures measures will be taken to achieve stability and safety, consistent with postmining land use objectives specified in the reclamation plan. Changes to site operations plans, such as those defined in the operation's prefeasibility study, may require an amendment to the MLRP.

Current major permits in hand include:

• Aquifer protection permit and stormwater pollutant prevention permit issued by the Arizona Department of Environmental Quality;
• Entitled water rights administered by the Arizona Department of Water Resources;
• Dust control permitting issued by the Pinal County Air Quality Department;
• General planning and zoning amendment approvals by the City of Casa Grande.

The industrial air permit, currently under review by the Pinal County Air Quality Department, is the sole remaining major permit ahead of additional construction and development permits needed to execute for the Cactus project.

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 (former 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 which have a long-standing record of successful project delivery in North America complemented by global capital markets expertise.

We seek Safe Harbor.