Arizona Sonoran Copper Company (ASCU) investor relations material

Project overview and development plans

• Asset is a former producing copper mine in Arizona, now focused on heap leach operations to produce copper cathode for U.S. industry.

• After-tax NPV of $2 billion and IRR of 24% reported in PEA; PFS is imminent and expected to confirm these figures.

• Resource base has grown to over 11 billion pounds of copper, with a new resource update expected to show over 12 billion pounds.

• Land holdings have nearly doubled to 8,000 acres, supporting a projected mine life of 22 years, with water rights secured through 2070.

• Recent land acquisition structured with staged payments, including a balloon payment in 2029, to support long-term operations.

Permitting, community, and infrastructure

• Permitting is advanced due to private land status, with no federal nexus; permit amendments expected to be processed within six months.

• Community support is strong, with favorable ratings rising to 87% in recent surveys.

• Project benefits from proximity to major infrastructure, including highways, rail, and power lines.

• Water supply is secured from a natural aquifer, with industrial-use-only restrictions due to mineral content.

• No need for major infrastructure builds such as roads or desalination plants, minimizing capital expenditure.

Financing, timeline, and strategic partnerships

• Project financing process underway, with 15 potential financiers under NDA and syndication expected to be finalized by Q3 next year.

• Construction and development period estimated at 24 months, targeting first copper cathode production in 2029.

• Strategic investment from Hudbay and increased institutional ownership have improved liquidity and market profile.

• Company is fully funded through to FID in Q4 2026, with $50 million in cash and no warrants outstanding.

• Share price has risen over 70% in the past 7-8 months, with potential for further re-rating as project milestones are achieved.