High Grade Copper Intersections At Black Butte Copper Project

WHITE SULPHUR SPRINGS, MT - Sandfire Resources America Inc. reported initial drill results of its winter exploration drilling program. This includes hole SC24-279 which intercepted 5.37 meters of 10.2% copper and hole SC24-284 which intercepted 6.26 meters of 10.7% copper. The ongoing 2024 drill program focuses on upgrading and expanding the Johnny Lee Lower Copper Zone resource which at last estimate consists of a measured and indicated resource of 1.2 million tonnes grading 6.8% Cu and an inferred resource of 0.5 million tonnes of 5.9% Cu. Since December 2023, the Company has drilled approximately 4,420 meters of a planned 20,000-meter drill program.

The Johnny Lee deposit has a Measured and Indicated Mineral Resource of 10.9 million tonnes (Mt) at an average copper grade of 2.9% for 311 thousand tonnes (kt) of contained copper (Cu) at a 1.0% Cu cut-off grade, and an Inferred Mineral Resource of 2.7 Mt at an average copper grade of 3.0% for 80 kt of contained Cu at a 1.0% Cu cut-off grade (2020 Technical Report*). The Company has received a Mine Operating Permit from the Montana Department of Environmental Quality for mine development of this deposit and has completed a majority of Phase I construction on associated surface facilities.