Holes Drilled At Copper Creek Project To Test Vertical Extension Of High-Grade Mineralization

VANCOUVER - Faraday Copper Corp. reported on two drill holes from the Phase II program at the Copper Creek Project, located in Arizona. These two holes were drilled to test vertical extension of high-grade breccia mineralization above the American Eagle underground footprint and target previously undrilled areas.

Paul Harbidge, President and CEO, said, "The final results from our Phase II drill program have continued to show the upside to the existing resource that formed the basis for the PEA. It is particularly exciting to see the high-grade results in the Bald breccia. This highlights the potential to identify additional vertically-extensive mineralized zones on the project. We intend to further test this area as part of our Phase III drill program, which is expected to commence in the fourth quarter of this year."

Program intersected 30.50 metres (m) at 0.95% copper, 3.62 g/t silver and 0.02 g/t gold from 213.80 m, including 14.84 m at 1.61% copper, 2.05 g/t silver and 0.04 g/t gold from 229.46 m in drill hole FCD-23-037 at the Bald breccia. This result confirms near-surface, high-grade breccia mineralization within the Bald resource pit shell and highlights the potential for resource expansion above the American Eagle porphyry. Results from Phase II drilling, along with new geophysical data, spectral data and geological mapping, will contribute to ranking and prioritizing targets for a 20,000-metre Phase III drill program planned to commence in the fourth quarter of 2023. A metallurgical program has commenced and is focused on grind size optimization, gold deportment and further test work on near surface mineralization. Analysis of historical drill core for gold in selected breccias is in progress.

Drill hole FCD-23-037 was collared southwest of the Bald breccia and drilled to the northeast. The hole targeted mineralization originally identified in a historical reverse circulation drill hole. Hole FCD-23-037 was drilled as diamond core and demonstrates that mineralization is hosted in a crackle breccia consisting of angular, intensely sericite altered granodiorite clasts, cemented by chalcopyrite and pyrite. The breccia was intersected approximately 500 m above the American Eagle underground footprint. Historical wide spaced vertical drilling had not tested the vertical extension of this breccia, which remains open. Follow-up drilling is planned in this area as part of our Phase III program.

Drill hole FCD-23-036 was collared southwest of the Marsha pit shell and drilled towards the northeast. The hole crosses a gap in drilling and confirms low-grade mineralization 160 m below the bottom of the Marsha pit shell used to constrain the MRE. The drill hole highlights that the Marsha area remains prospective for resource expansion.