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Arizona Sonoran Buys Back 1.0% of the Bronco Creek Exploration Royalty

CASA GRANDE, Ariz. & TORONTO--(BUSINESS WIRE)-- Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (鈥淎SCU鈥� or the 鈥淐ompany鈥�) is pleased to announce that it has completed a buyback of 1% of the Bronco Creek Exploration (鈥淏CE鈥�) net smelter royalty (鈥淣SR鈥�) for a cash payment of US$500,000, reducing the NSR from 1.5% to a remaining 0.5% NSR. The NSR applies to the BCE parcel which comprises a portion of the Parks/Salyer deposit on the Cactus Project. In FIGURE 1, the BCE parcel is represented in yellow.

FIGURE 1: Map of the Cactus Project. (Graphic: Business Wire)

Nick Nikolakakis, Arizona Sonoran CFO and VP Finance commented, 鈥淟eading into 2025 and post-2024 Preliminary Economic Assessment, ASCU has a strong balance sheet to advance its programs and optimize the Company鈥檚 assets. The finance team is now acting on a previously identified program to leverage the copper price on future copper production and deliver copper price and production upside back to shareholders through efficient capital allocation. Our models have demonstrated this royalty buyback reflects good potential upside value to our shareholders as we advance the Cactus Project.

Neither the Toronto Stock Exchange nor the regulating authority has approved or disproved the information contained in this press release.

About Arizona Sonoran Copper Company ( | )
ASCU is a copper exploration and development company with a 100% interest in the brownfield Cactus Project. The Project, on privately held land, contains a large-scale porphyry copper resource and a recent 2024 PEA proposes a generational open pit copper mine with robust economic returns. Cactus is a lower risk copper developer benefitting from a State-led permitting process, in place infrastructure, highways and rail lines at its doorstep and onsite permitted water access. The Company objective is to develop Cactus and become a mid-tier copper producer with low operating costs, that could generate robust returns and provide a long-term sustainable and responsible operation for the community, investors and all stakeholders. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America complemented by global capital markets expertise.

Cautionary Statements regarding Forward-Looking Statements and Other Matters

Forward-Looking Statements
All statements, other than statements of historical fact, contained or incorporated by reference in this press release constitute 鈥渇orward-looking statements鈥� and "forward-looking information" (collectively, 鈥渇orward-looking statements鈥�) within the meaning of applicable Canadian and United States securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 鈥渁cting鈥�, 鈥渁dvance鈥�, 鈥渁ssumptions鈥�, 鈥渂ecome鈥�, 鈥渃onceptual鈥�, 鈥渃ould鈥�, 鈥渄eliver鈥�, 鈥渄emonstrated鈥�, 鈥渄evelop鈥�, 鈥渄evelopment鈥�, 鈥渆stimates鈥�, 鈥渆xpectation鈥�, 鈥渆xploration鈥�, 鈥渇easibility鈥�, 鈥渇orward鈥�, 鈥渇uture鈥�, 鈥済enerational鈥�, 鈥渓eading鈥�, 鈥渓everage鈥�, 鈥渓ong-term鈥�, 鈥渓ooking鈥�, 鈥渕odels鈥�, 鈥渙bjective鈥�, 鈥渙ptimize鈥�, 鈥淧EA鈥�, 鈥減lan鈥�, 鈥減otential鈥�, 鈥減re鈥�, 鈥減reliminary鈥�, 鈥減rocess鈥�, 鈥減rograms鈥�, 鈥減roject鈥�, 鈥減roposes鈥�, 鈥渞eflect鈥�, 鈥渞esource鈥�, 鈥渞isk鈥�, 鈥渟ustainable鈥�, 鈥渟tudy鈥�, 鈥渟ubject to鈥�, 鈥渦pgrading鈥�, 鈥渦pside鈥�, and 鈥渨ill鈥�, or variations of such words, and similar such words, expressions or statements that certain actions, events or results can, could, may, should, would, will (or not) be achieved, occur, provide, result or support in the future, or which, by their nature, refer to future events. In some cases, forward-looking information may be stated in the present tense, such as in respect of current matters that may be continuing, or that may have a future impact or effect. Forward-looking statements include statements regarding balance sheet strength; capital allocation (including the potential results thereof such as leverage to the copper price); the 2024 Preliminary Economic Assessment (including the results thereof); advancement and the future of the Cactus Project (including operations, copper production, returns (economic or otherwise), permitting, operating costs, any upside in value and/or delivered back to shareholders, sustainability and risk); Company objectives and operations; and the future plans or prospects of the Company (including sustainability of the Cactus Project and becoming a mid-tier copper producer). Although the Company believes that such statements are reasonable, there can be no assurance that those forward-looking statements will prove to be correct, and any forward-looking statements by the Company are not guarantees of future actions, results or performance. Forward-looking statements are based on assumptions, estimates, expectations and opinions, which are considered reasonable and represent best judgment based on available facts, as of the date such statements are made. If such assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results may be materially different than expressed or implied in the forward-looking statements. The assumptions, estimates, expectations and opinions referenced, contained or incorporated by reference in this press release which may prove to be incorrect include those set forth or referenced in this press release, as well as those stated in the Company鈥檚 press release dated August 7, 2024, the technical report for the Project filed on August 27, 2024 (the 鈥�2024 PEA Technical Report鈥�), the Company鈥檚 Annual Information Form dated April 1, 2024 (the 鈥淎IF), Management鈥檚 Discussion and Analysis (together with the accompanying financial statements) for the year ended December 31, 2023 and the quarters already ended in 2024 (collectively, the 鈥�2023-24 Financial Disclosure鈥�) and the Company鈥檚 other applicable public disclosure (collectively, 鈥淐ompany Disclosure鈥�), all available on the Company鈥檚 website at and under its issuer profile at . Forward-looking statements are inherently subject to known and unknown risks, uncertainties, contingencies and other factors which may cause the actual results, performance or achievements of ASCU to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties, contingencies and other factors include, among others, the 鈥淩isk Factors鈥� in the AIF, and the risks, uncertainties, contingencies and other factors identified in the 2024 PEA Technical Report and the 2023-24 Financial Disclosure. The foregoing list of risks, uncertainties, contingencies and other factors is not exhaustive; readers should consult the more complete discussion of the Company鈥檚 business, financial condition and prospects that is provided in the AIF, the 2023-24 Financial Disclosure and other Company Disclosure. Although ASCU has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this press release (or as otherwise expressly specified) and ASCU disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements referenced or contained in this press release are expressly qualified by these Cautionary Statements as well as the Cautionary Statements in the AIF, the 2024 PEA Technical Report, the 2023-24 Financial Disclosure and other Company Disclosure.

Preliminary Economic Assessments
The 2024 Preliminary Economic Assessment (or 2024 PEA) referenced in this press release and summarized in the 2024 PEA Technical Report is only a conceptual study of the potential viability of the Cactus Copper Project and the economic and technical viability of the Project has not been demonstrated. The 2024 PEA is preliminary in nature and provides only an initial, high-level review of the Project鈥檚 potential and design options; there is no certainty that the 2024 PEA will be realized. For further detail on the Project and the 2024 PEA, including applicable technical notes and cautionary statements, please refer to the Company鈥檚 press release dated August 7, 2024 and the 2024 PEA Technical Report, both available on the Company鈥檚 website at and under its issuer profile at .

Mineral Resource Estimates
Until mineral deposits are actually mined and processed, copper and other mineral resources (which include copper resources) must be considered as estimates only. Mineral resource estimates that are not classified as mineral reserves do not have demonstrated economic viability. The estimation of mineral resources is inherently uncertain, involves subjective judgement about many relevant factors and may be materially affected by, among other things, environmental, permitting, legal, title, taxation, socio-political, marketing, or other known and unknown risks, uncertainties, contingencies and other factors described in the foregoing Cautionary Statements on Forward-Looking Statements. The quantity and grade of reported 鈥渋nferred鈥� mineral resource estimates are uncertain in nature and there has been insufficient exploration to define 鈥渋nferred鈥� mineral resource estimates as an 鈥渋ndicated鈥� or 鈥渕easured鈥� mineral resource and it is uncertain if further exploration will result in upgrading 鈥渋nferred鈥� mineral resource estimates to an 鈥渋ndicated鈥� or 鈥渕easured鈥� mineral resource category. Inferred mineral resource estimates may not form the basis of feasibility or pre-feasibility studies or economic studies except for preliminary economic assessments. The accuracy of any mineral resource estimate is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation, which may prove to be unreliable and depend, to a certain extent, upon the analysis of drilling results and statistical inferences that may ultimately prove to be inaccurate. It cannot be assumed that all or any part of a 鈥渋nferred鈥�, 鈥渋ndicated鈥� or 鈥渕easured鈥� mineral resource estimate will ever be upgraded to a higher category including a mineral reserve. The mineral resource estimates declared by the Company were estimated, categorized and reported using standards and definitions in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards for Mineral Resources and Mineral Reserves (the 鈥淐IM Standards鈥�) in accordance with National Instrument 43-101 of the Canadian Securities Administrators (鈥淣I 43-101鈥�), which governs the public disclosure of scientific and technical information concerning mineral projects.

U.S. Readers
The terms 鈥渕ineral resource鈥�, 鈥渕easured mineral resource鈥�, 鈥渋ndicated mineral resource鈥� and 鈥渋nferred mineral resource鈥� as disclosed by the Company are Canadian mining terms defined in the CIM Standards (collectively, the 鈥淐IM Definitions鈥�) in accordance with NI 43-101. NI 43-101 establishes standards for all public disclosure that a Canadian issuer makes of scientific and technical information concerning mineral projects. These Canadian standards differ from the requirements of the United States Securities and Exchange Commission (the 鈥淪EC鈥�) applicable to United States domestic and certain foreign reporting companies under Subpart 1300 of Regulation S-K (鈥淪-K 1300鈥�). Accordingly, information describing mineral resource estimates for the Cactus Copper Project may not be comparable to similar information publicly reported in accordance with the applicable requirements of the SEC, and so there can be no assurance that any mineral resource estimate for the Project would be the same had the estimates been prepared per the SEC鈥檚 reporting and disclosure requirements under applicable United States federal securities laws, and the rules and regulations thereunder, including but not limited to S-K 1300. Further, there is no assurance that any mineral resource or mineral reserve estimate that the Company may report under NI 43-101 would be the same had the Company prepared such estimates under S-K 1300.

View source version on businesswire.com:

Alison Dwoskin, Director, Investor Relations

647-233-4348

adwoskin@arizonasonoran.com

George Ogilvie, President, CEO and Director

416-723-0458

gogilvie@arizonasonoran.com

Source: Arizona Sonoran Copper Company Inc.