Company Website: https://www.arizonasonoran.com
CASA GRANDE, Ariz. & TORONTO -- (Business Wire)

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) today announces that, following preliminary consultation, the Company and Nuton LLC (“Nuton”), a Rio Tinto Venture, have mutually agreed to commence discussions in January with respect to an amicable early termination of the option to joint venture agreement on the Cactus Project.

The Company will continue to advance its Cactus Project on a standalone basis. Following from the recently completed positive standalone Pre-Feasibility Study, the Company will continue to progress the standalone Definitive Feasibility Study on the Cactus Project, targeted for completion in 2H 2026, with a view to an eventual final investment decision as early as 4Q 2026, alongside its ongoing advancement of related permitting amendments, project financing work, and various early development activities to be defined and actioned in the new year.

The Company does not intend to provide any further updates regarding its discussions with Nuton until there is a definitive update. There is no certainty as to how long such negotiations will take or that any definitive outcome will result, or that any such or other outcome will be on terms mutually satisfactory to the parties.

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 (www.arizonasonoran.com | www.cactusmine.com)

ASCU is a copper exploration and development company with a 100% interest in the brownfield Cactus Project. The Cactus Project, on privately held land, contains a large-scale porphyry copper resource and a recent 2025 PFS 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’s 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

All statements, other than statements of historical fact, contained or incorporated by reference in this press release constitute “forward-looking statements” and " “forward-looking information” (collectively, “forward-looking statements”) 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 “advancing”, “anticipated”, “become”, “believe”, “continue”, “development”, “early”, “emerging”, “eventual”, “feasibility”, “generational”, “intend”, “long-term”, “looking”, “ “objective”, “ongoing”, “outcome”, “potential”, “progress”, “project”, “proposes”, “risk”, “study”, “subject to”, “to be”, “updates”, “view”, and “will”, 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 those relating to the pending discussions regarding an early termination of the OTJV or any other outcome resulting from any such discussions (including the terms, timing, outcome and any implications thereof); the standalone Definitive Feasibility Study or DFS and any final investment decision (including the completion, timing and results thereof); project financing (including the timing of completion and outcome thereof); permitting amendments (including the timing and outcome thereof); early development activities (including the definition and actioning thereof); the risk of the Cactus Project; proposal of a generational open pit copper mine; the Company’s strategic and other objectives (including developing the Cactus Project and becoming 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). 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’s prior press release referenced herein (collectively, the “Referenced PRs”), the technical report titled “NI 43-101 Technical Report Pre-Feasibility Study of the Cactus Mine Project, Pinal County, Casa Grande Arizona” with an effective date of October 20, 2025 and an issue date of November 17, 2025 (the “PFS Technical Report”), the Company’s Annual Information Form dated March 27, 2025 (the “AIF”), Management’s Discussion and Analysis (together with the accompanying financial statements) for the year ended December 31, 2024 and the quarter(s) already ended and reported in 2025 (collectively, the “2024-25 Financial Disclosure”) and the Company’s other applicable public disclosure (collectively, “Company Disclosure”), all available on the Company’s website at www.arizonasonoran.com and under its issuer profile at www.sedarplus.ca. 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, that the OTJV early termination negotiations between the parties are unsuccessful (including that any such termination and/or resulting definitive agreement (including the terms thereof) cannot be mutually agreed on an amicable and/or otherwise mutually satisfactory basis, or at all), and/or no other certainty of outcome, and the potential negative implications thereof, associated costs and a negative outcome for the Company and its subsidiaries from any dispute and/or litigation relating to the OTJV, and resulting negative impacts on the Company’s share price and/or successful advancement of the Cactus Project on the currently anticipated timeline through to Definitive Feasibility Study (standalone or otherwise), project financing (on amenable terms or at all) and any eventual final investment decision, and the failure to realize any such objectives, on a basis consistent with the Company’s expectations or at all); necessary financing (including project financing) not being advanced or available or secured on time and/or terms amenable to the Company or at all; and early development activities not being defined or actioned consistent with the Company’s plan and/or expectations or at all, as well as the “Risk Factors” in the AIF, and the risks, uncertainties, contingencies and other factors identified in the Referenced PRs, the PFS Technical Report and the 2024-25 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’s business, financial condition and prospects that is provided in the AIF, the 2024-25 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 Referenced PRs, the PFS Technical Report and the 2024-25 Financial Disclosure.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251229783820/en/

Contacts:

For more information
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.