Phase One Diamond Drill Program At The Copper Creek Project

VANCOUVER - Faraday Copper Corp. reported on five drill holes (2,984 meters) of its nine-drill-hole (6,000-meter) Phase I diamond drill program at the Copper Creek project, located in Arizona.

Paul Harbidge, President and CEO commented "I am pleased with the first set of results from our Phase I drill program, which was designed to increase the data coverage in previously undrilled areas between known breccia-hosted mineralization, to collect geotechnical information, and to confirm historic drill results. The results to-date confirm the high-grade nature of the near-surface breccia pipes, as well as a lower-grade mineralized material envelope, previously classified as waste. These results, together with the recently published Mineral Resource Estimate, have focused the upcoming Phase II drill program on the expansion of the open pit resource, infilling the underground mineralization and testing generative targets."

The results from the Drill Program are based on a cut-off grade of 0.23% copper and will be incorporated into an updated Mineral Resource Estimate (MRE) in conjunction with the Preliminary Economic Assessment ("PEA") for Copper Creek, expected to be completed by the end of the second quarter of 2023. The Company has received assay results for five drill holes, with assay results for the remaining four drill holes still pending. All intervals are reported as drill widths.

Drill hole FCD-22-008 was collared at the White Bear breccia and drilled to the southeast towards the Mammoth breccia. This drill hole crosses a gap in previous drilling and provides critical geotechnical information for open pit development. Highlights include: 2.61% copper and 7.35 g/t silver over 34.0 m from 451.0 m, within a longer interval of 1.05% copper and 2.29 g/t silver over 165.8 m from 431.0 m to the end of the drill hole and mineralization remains open. This high-grade intercept further defines the mineralization and identifies exploration upside at the Mammoth breccia. 0.76% copper and 0.67 g/t silver over 26.0 m from surface, confirming mineralization at the White Bear breccia.

Drill hole FCD-22-005 was collared approximately 60 m northwest of the Childs Aldwinkle breccia and drilled to the south, aimed at infilling the gap between the Mammoth and Childs Aldwinkle breccias. These intercepts demonstrate that copper mineralization is present in previously undrilled areas between breccias. In addition, key geotechnical information was collected to optimize the open pit design and to define the pit-to-underground transition. Highlights include: 0.34% copper and 1.08 g/t silver over 34.0 m from 14.0 m, including 0.53% copper and 1.53 g/t silver over 16.0 m from 18.0 m. This intercept identifies near-surface mineralization that was previously unrecognized - 0.26% copper and 0.91 g/t silver over 12.5 m from 259.5 m. This intercept indicates a previously unrecognized mineralized area with the potential to convert waste to ore within the proposed open pit; 0.35% copper and 0.83 g/t silver over 99.2 m from 717.1 m to the end of the drill hole at 816.3 m, including 0.44% copper and 0.94 g/t silver over 24.0 m from 744.0 m. This intercept defines the shallow portion of the Keel cupola zone and expands known mineralization to the south of the lower Mammoth breccia. Mineralization remains open; 0.34% copper and 0.69 g/t silver over 21.6 m from 533.4 m. This intercept confirms mineralization above the cut-off grade in the lower portion of the Mammoth breccia.

Drill hole FDC-22-002 was collared north of the Glory Hole breccia and drilled towards the south. This drill hole defined mineralization in the volcanic host-rock at the start of the drill hole and confirmed and further defined mineralization in the Glory Hole breccia. The drill hole also intercepted the Holly breccia at depth. Highlights include: 0.47% copper and 0.23 g/t silver over 40.0 m from 4.0 m, including 0.67% copper and 0.20 g/t silver over 22.0 m from 14.0 m; 0.51% copper and 1.87 g/t silver over 67.0 m from 78.0 m, including 1.42% copper and 4.14 g/t silver over 5.7 m from 100.3 m. This drill hole intercepted the lower part of the Holly breccia from 404.0 m to 482.0 m which is elevated in silver (0.81 g/t silver over 78.0 m) and warrants further exploration.

Drill hole FDC-22-004 was collared near the Copper Giant breccia and drilled towards the south. The drill hole intersected a previously unknown breccia (now named the Copper Duchess breccia) between 313.0 m and 496.0 m depth. Two notable intercepts include 0.31% copper and 1.23 g/t silver over 6.4 m from 328.6 m and 0.23% copper and 0.85 g/t silver over 8.0 m from 347.0 m. These intercepts highlight the exploration potential in this newly identified breccia situated between the well mineralized Copper Prince and Childs Aldwinkle breccias.

Drill hole FDC-22-003 was collared at the Copper Prince breccia and was drilled towards the north-northeast, intercepting the Copper Giant breccia from 207.0 m to 340.0 m (below the MRE pit limits) and a zone of moderately intense early halo and D-type veining from 456.0 m to 515.0 m. Isolated copper assays above cut-off were observed throughout the hole. This hole provides guidance for Phase II follow-up drilling and demonstrates exploration potential for early-halo style porphyry mineralization at depth beyond the current level of drilling.

Assay results for drillholes FCD-22-001, FCD-22-006, FCD-22-007, and FCD-22-009 are pending. Assay and geotechnical data from the Drill Program will be incorporated into an updated Mineral Resource Estimate as part of the PEA expected to be completed by the end of the second quarter of 2023. The new drill results, the MRE, and a target generation study will guide the design of the Phase II drill program, expected to start in Q4 2022.