Mr. Paul Harbidge reports

FARADAY COPPER INITIATES LARGEST EVER DRILL PROGRAM AT THE COPPER CREEK PROJECT IN ARIZONA

Faraday Copper Corp. has commenced its planned 40,000-metre phase 4 drill program at the Copper Creek project, located in Arizona.

Paul Harbidge, president and chief executive officer, commented: "I am excited to announce the start of our phase 4 V drill program, the largest drill program ever planned on the project to date. From just nine pads on federal land, phase 3 drilling in the American Eagle area resulted in the discovery of multiple mineralized breccias, including the high-grade Banjo breccia. Importantly, the recent approval of our exploration plan of operations provides access to 67 drill pads on federal land, 48 of which are located in the American Eagle area. This now allows us to fully delineate multiple mineralized breccias and porphyry occurrences, as well as near-surface oxide mineralization. As a result, we have decided to focus on this exciting exploration upside to fully evaluate the American Eagle area and test other high-priority targets across the property. Growing the resource and maximizing the economic potential is our priority, and, therefore, we have deferred the updated resource and technical study until after this drill program is completed."

Phase 4 drill program overview:

• An estimated 40,000-metre diamond drill program has commenced with the goal of building on the company's previous drilling success. The program will focus on the American Eagle area, as well as new targets, infill, geotechnical, infrastructure and hydrological drilling:
  • Approximately 20,000 m focused on American Eagle near-surface mineralization;
  • Approximately 10,000 m targeting oxide mineralization to increase the potential of copper cathode production, which provides optionality for early cash flow and domestic copper production;
  • Approximately 10,000 m for new discoveries in the Copper Creek district.

Assay results for completed drill holes will be released as they are received, analyzed and confirmed by the company.

American Eagle area

The recently approved exploration plan of operations by the Bureau of Land Management includes up to 67 drill pads located on federal land, 48 of which are in or near the American Eagle area. This approval substantially increases the opportunities for drill targeting the American Eagle area compared with the previously available nine drill pads. Phase 3 drilling from these nine drill pads identified several mineralized breccias in the American Eagle area, including the high-grade Banjo breccia. The additional approved pads will allow testing for further near-surface porphyry and breccia-hosted mineralization near American Eagle. Some drilling will be aimed at the collection of geotechnical and hydrological data. A combined total of approximately 20,000 m of drilling is allocated to these objectives.

Oxide resource growth

Supergene copper oxide and secondary sulphide mineralization occurs in the uppermost 20 m to 40 m at Copper Creek, and a resource (1) has been previously defined in breccias northwest of the American Eagle area. Recent phase 3 drilling has highlighted the potential for expanding the oxide resource through shallow, low-angle drilling. Copper oxide minerals and anomalous copper in iron oxides, which formed after oxidation of primary sulphide mineralization, have been widely documented beyond the known resource, including in the American Eagle area. Copper oxide provides the opportunity to generate early cash flow through low-cost, heap leach copper recovery. Approximately 10,000 m of drilling is allocated to oxide resource growth.

District exploration upside

Significant exploration upside remains in the Copper Creek district with numerous breccias and porphyry targets yet to be drilled. Geological mapping, and geophysical and geochemical data, as well as reconnaissance drilling, have highlighted various targets outside of the resource area, including the Sunrise Trend, Bunker Hill and Sycamore. Mapping and geological data collection will continue throughout the district and are expected to highlight further exploration targets.

The American Eagle underground resource contains high-grade cores that may correspond to magmatic cupola zones or high-grade breccias. The underground resource at both Keel and American Eagle is open laterally, and additional drilling has the potential to expand the mineralization and further define high-grade mineralization. Some drilling will be aimed at reconnaissance drilling for potential new porphyry centres. Approximately 10,000 m of drilling is allocated to these objectives.

Note: Copper oxide detected at surface includes observations of copper oxide minerals and copper concentrations on iron oxide minerals in grab samples measured by a portable X-ray fluorescence device.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Faraday's vice-president, exploration, Dr. Thomas Bissig, PGeo, who is a qualified person under National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

Note (1): The mineral resource estimate is presented in the report titled "Copper Creek Project NI 43-101 Technical Report and Preliminary Economic Assessment" with an effective date of May 3, 2023, available on the company's website and on the company's SEDAR+ profile.

About Faraday Copper Corp.

Faraday Copper is an exploration company focused on advancing its flagship copper project in Arizona, United States. The Copper Creek project is one of the largest undeveloped copper projects in North America with significant district-scale exploration potential. The company is well financed to deliver on its key milestones and benefits from a management team and board of directors with senior mining company experience and expertise. Faraday trades on the Toronto Stock Exchange under the symbol FDY.

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