Phase Two Drill Program At The Copper Creek Project

VANCOUVER - Faraday Copper Corp. reported the results from six drill holes at its Copper Creek Project, located in Arizona.

Paul Harbidge, President and CEO, said, "The continued success of our Phase II drill program confirms our view that there is significant upside to the open pit and underground resource utilized as the basis for the PEA. In particular, drill hole FCD-23-023 returned high copper grades and enrichment in gold. This highlights the potential to add gold credits to the current resource through both future drilling and our ongoing assaying of historical core and pulps that were not analyzed in the past. We look forward to providing updates as we progress."

Highlights: 1) Intersected 45.89 meters ("m") at 1.68% copper, 0.33 g/t gold, 5.55 g/t silver and 0.028% molybdenum from 184.72 m at the Childs Aldwinkle breccia complex in drill hole FCD-22-023. This hole highlights the potential gold upside on the property, which was not included in the Mineral Resource Estimate (MRE). 2) Intersected 136.48 m at 0.54% copper and 0.83 g/t silver from 278.61 m, including 66.26 m at 0.87% copper and 1.22 g/t silver from 278.61 m, and 309.43 m at 0.31% copper and 0.83 g/t silver from 693.16 m in drillhole FCD-23-025. The upper intersection from 278.61 m corresponds to the Mammoth breccia whereas the lower portion of the hole was aimed at testing the gap between the Keel and American Eagle underground footprints. The hole confirms mineralization in this gap, where drill density remains limited. 3) Commenced a gold assaying program of historical drill core to determine the potential for inclusion in future resource updates. Samples will also be taken for metallurgical test work.

Drill hole FCD-22-023 was collared southwest of Childs Aldwinkle and drilled to the northeast. The results for this hole demonstrate the potential for significant gold mineralization in addition to the high-grade copper mineralization within the open pit resource. Childs Aldwinkle forms a northwesterly elongated subvertical to steeply southwest dipping breccia complex that has historically been drilled from the northeast. The hole also provides geological and geotechnical information on the previously undrilled hanging wall of the deposit.

Drill hole FCD-23-025 was collared west of Mammoth and drilled to the east-southeast. It intersected the lower part of the Mammoth breccia and surrounding halo mineralization and crossed a 300-meter-long interval of mineralization between the Keel and American Eagle resource shapes. This hole demonstrates the potential for continuous mineralization at or above cut-off grade between the two underground footprints and merits follow-up drilling.

Drill holes FCD-23-021 and FCD-23-022 were drilled to the southwest and west, respectively, targeting the previously undrilled Hilltop breccia, which is located immediately east of Copper Prince. Both holes were drilled from the same location and intersected near-surface mineralization above the cut-off grade for the open pit mineral resource. Follow-up exploration is planned in this area.

Drill holes FCD-22-019 and FCD-22-020 were both reconnaissance drill holes testing the Gin breccia, which is located to the north of the mineral resource area. The holes were drilled towards the southwest and west, respectively, and both intersected over 100 m of pyrite cemented breccia. Anomalous silver was identified in the drill holes with values up to 0.97 g/t. The abundance of pyrite, which commonly occurs above copper bearing sulfides in an outer alteration halo, suggests that the holes remained in the shallow portions of the mineral system. The Gin breccia remains prospective for copper mineralization below the current depth of drilling.

Phase II drilling continues and is focused on expanding the MRE, better delineating high-grade zones and testing new targets. Twenty-six drill holes have been completed and the results for fifteen drill holes have been released to date. The assay results for additional completed drill holes will be released as they are received, analyzed and confirmed by the Company. Current and planned exploration activities beyond Phase II drilling include geological mapping, rock sampling and collection of geophysical and mineralogical dataset to inform drill targeting for future drill campaigns scheduled to initiate in the fourth quarter of 2023. Faraday has commenced a gold assaying program of historical drill core, which was not previously analyzed, to determine the potential for inclusion in future resource updates. Samples will also be taken for metallurgical test work.