Major Milestones With Completion Of Black Butte Copper Project Feasibility Study And Updated Mineral Resource For Lowry Deposit

WHITE SULPHUR SPRINGS, MT - Sandfire Resources America Inc. reported its maiden Mineral Reserve and the results of the Feasibility Study for the Johnny Lee deposit at its Black Butte Copper Project in White Sulphur Springs, Montana, pursuant to National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The Feasibility Study relates solely to Mineral Reserves located on the Johnny Lee copper deposit, the cornerstone deposit at the Black Butte Copper Project. The Company also reported an updated Mineral Resource for the Lowry copper deposit (the "Lowry Deposit"), which is located approximately 3km south-east of the Johnny Lee Deposit, pursuant to NI 43-101.

CEO and Project Director Rob Scargill, said, “The positive outcomes of the Feasibility Study show that we can deliver a robust underground mining project at Black Butte that meets the world’s highest environmental standards while at the same time creating jobs, opportunities and significant direct and indirect benefits for the State of Montana. This is one of the highest-grade copper deposits in the world and one of the very few fully-permitted and development-ready copper assets globally. The Feasibility Study delineates a clear pathway to unlocking its value for our shareholders in a manner that is consistent with world-best practice in ESG and community engagement.

“The Project will employ 240 full-time, highly paid employees along with 20-30 full-time contractors as well as providing significant economic benefits for all stakeholders in the local community and Montana at large. We have already commenced pre-construction earthworks on the site employing over 30 Montanans through local contractors, in addition to our own dedicated team. We are excited about the opportunity to move this high-quality project forward and position it to meet what is increasingly emerging as a new era of demand for copper driven by its growing use as a key input to renewable and clean energy applications, including the electrification of transportation globally. Meanwhile, the updated Mineral Resource for the Lowry Deposit demonstrates the significant exploration potential at the Black Butte Copper Project. The deposit is located just 1.8km from the underground access portal for the Johnny Lee Deposit and is a high priority for our next round of exploration.”