CEO.CA Chairman's Briefing

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) today announces 60% completion of its 105,000 ft (32,000 m) infill to indicated drilling program at Parks/Salyer (“P/S"), located ~1.3 mi (2 km) southwest of the Company’s Cactus Mine Project (see FIGURES 1-10). 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 ft (150 m) to 250 ft (76 m) 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 towards the west.

Highlights:

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

NOTE: True widths are not known

George Ogilvie, Arizona Sonoran President and CEO 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% of the drill program this quarter, while a third drill rig will move to the NE 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 re-scoped PFS in late 2023, early 2024.”

Exploration Drilling Program Recap

The current 105,000 ft (32,000 m) drilling program is reducing drill spacings to 250 ft, aimed at upgrading the mineral resource category to indicated in support of the potential definition of maiden reserves in the upcoming PFS. To date the drilling of 27 infill core holes (59,289 ft | 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 replacements styles, shown in FIGURES 1-10, are representative of our 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.

TABLE 1: Parks/Salyer Drilling Highlights

1. Intervals are presented in core length and are drilled with very near vertical dip angles.
2. Drill assays assume a mineralized cut-off grade of 0.5% CuT reflecting the potential for heap leaching of underground material in the case of Oxide and Enriched or in the case of Primary material to provide typical average grades. Holes were terminated below the basement fault.
3. Some intercepts in the western exploration holes assumed a mineralized cut-off grade of 0.1% CuT to provide typical average grades of the tenor of mineralization.
4. Assay results are not capped. Intercepts are aggregated within geological confines of major mineral zones.
5. True widths are not known.

Table 2: Drilling details

Quality Assurance / Quality Control

Drilling completed on the project between 2020 and 2022 was supervised by on-site ASCU personnel who prepared core samples for assay and implemented a full QA/QC 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 AZ for analysis. Skyline’s quality control system complies with global certifications for Quality ISO9001:2008.

Technical aspects of this news release have been reviewed and verified by Allan Schappert – CPG #11758, who is a qualified person as defined by National Instrument 43-101– Standards of Disclosure for Mineral Projects.

Links from the Press Release
Figures 1-10: https://arizonasonoran.com/projects/exploration/maps-and-figures/

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

About Arizona Sonoran Copper Company (www.arizonasonoran.com | www.cactusmine.com)

ASCU’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% 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%-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 track record of successful project delivery in North America complemented by global capital markets expertise.

Forward-Looking Statements

Forward-looking statements involve known and unknown risks, uncertainties 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. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, projected cash operating costs, failure to obtain regulatory or shareholder approvals.

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 news release and ASCU disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

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