Arizona Sonoran Copper Company Inc. released its Mineral Resource Update (MRE) for the combined Cactus, Stockpile and Parks/Salyer deposits, together the Cactus Project, located 45 miles south of Phoenix, Arizona. The upgraded MRE is expected to form the basis for the ASCU Pre-Feasibility Study (PFS), targeting a 45-50 ktpa copper cathode heap leach and SXEW operation, and is on track for release in First Quarter 2024. The brownfields project is wholly-owned and located on private land in Arizona with $30 million of infrastructure onsite, an advanced permitting stage, approved water rights and access to water.

Highlights: 221% increase of total Measured and Indicated ("M&I") resources (including primary resources), and a 9% increase of grade, resulting in a 55% decrease of Inferred resources due to upgrading of material-MRE including Primary Resource Opportunity. M&I 445.7 Mt at 0.58% Cu for 5.17 billion pounds of copper. Inferred 233.8 Mt at 0.47% Cu for 2.21 billion pounds of copper.

Leachable (Oxide and Enriched) Mineral Resource. M&I category increases by 316%: 357.6 million tons ("Mt") at 0.62% Soluble Copper (Cu TSol) for 4.43 billion lbs of copper. Inferred Category decreases by 64%: 107.7 Mt at 0.61% Cu TSol for 1.31 billion lbs of copper due to upgrading of material.

Low discovery cost - $0.005/lb per pound. +1.0% Soluble Copper Grades - specifically, Parks/Salyer contains 130Mt at 1.028% Cu Tsol and Cactus East contains 41.2Mt at 1.057% Cu TSol within M&I resources reporting to underground resource cutoff grades. Continuity confirmed - total drill database includes 526,000 ft (160,420 m) of drilling in 900 holes, resulting in demonstrated consistency of mineralization overall and a significant upgrade of the Parks/Salyer Deposit from the last MRE.

High Quality - first declaration of Measured mineral resources and significant conversion of Inferred mineral resources to the Indicated category which have the potential to be used to declare first reserves in the pending Pre-Feasibility Study expected in First Quarter 2024.