Arizona Sonoran Copper Company (ASCU) Corporate Presentation summary

Strategic positioning and project overview

• Focused on developing a brownfield porphyry copper project in Arizona, leveraging private land and existing infrastructure for streamlined permitting and lower risk entry to production.

• Targeting mid-tier copper producer status with a 21-year mine life and robust financials, including $509M post-tax NPV8 and $2.4B LOM free cash flow at $3.90/lb copper.

• Project benefits from proximity to major transportation, power, and labor sources, and is located in a top-tier mining jurisdiction.

• Strong support from major industry sponsors, including Rio Tinto (Nuton) and Tembo Capital, with an option for Nuton to acquire up to 40% of the project.

• Management team has extensive experience in mine development, operations, and finance, with a proven track record of project execution.

Project economics, resources, and operations

• Cactus Project hosts 3.0B lbs proven and probable copper reserves at 0.48% Cu TSol, with 5.2B lbs measured and indicated resources at 0.58% Cu.

• Initial capex of $515M (including $75M contingency) and first quartile capital intensity ($10,343/st), with AISC of $2.34/lb and C1 cost of $1.84/lb.

• Production plan features early cash flow from stockpile and open pit mining, funding underground development at Parks/Salyer and Cactus East.

• Metallurgical recoveries are high, with 85-92% for enriched and oxide ores, based on two years of testing.

• Mining schedule designed for low capex ramp-up, with plant capacity expanding from 30ktpa to 60ktpa by year 7.

Permitting, sustainability, and risk management

• Permitting process is advanced and streamlined due to private land ownership, with key permits already initiated or in place.

• Project benefits from access to water, power, and transportation, and is situated in an industrial park with strong local support.

• Commitment to sustainability and low environmental footprint, with Nuton technology offering potential for further reductions.

• No debt and $15M cash on hand as of Q1 2024, providing financial flexibility.

• Project is benchmarked as lower risk compared to peers, with robust economics and scalability.