Six Holes Completed At The Copper Creek Project

VANCOUVER - Faraday Copper Corp. reported on six drill holes at its Copper Creek Project, located in Arizona. The holes were drilled to target the potential expansion of the open pit mineral resources.

Paul Harbidge, President and CEO, said, "The results from our Phase II drill program continue to show the exploration upside to the existing resource that formed the basis for the PEA. Three drill holes have identified the opportunity to expand the near-surface mineral resource along the eastern breccia trend and combine two open pits. Additionally, we have identified the potential for payable gold at the Pole breccia. With our Phase II drill program now completed and the results from 26 of 28 holes released, our focus in the third quarter will be on integrating and analyzing airborne magnetic, electromagnetic, drill core, geochemical and spectral data to rank and prioritize targets for a 20,000-metre Phase III drill program planned to commence in the fourth quarter of 2023. We are continuing to analyze historical drill core for gold and will be commencing a metallurgical program shortly. We look forward to providing updates as results are received."

Highlights: 1) Intersected 101.31 metres ("m") at 0.45% copper and 6.69 g/t silver from surface, including 17.70 m at 0.96% copper, 3.33 g/t silver and 0.12 g/t gold from 68.16 m in drill hole FCD-23-032 at the Pole breccia. 2) Intersected 42.03 m at 0.35% copper and 2.99 g/t silver from 74.03 m and 28.97 m at 0.24% copper and 0.99 g/t silver from 130.83 m in drill hole FCD-23-033 at the Pole breccia, outside of the Mineral Resource Estimate (MRE). 3) Intersected 43.29 m at 0.29% copper and 1.13 g/t silver from 75.58 m at the B-24 breccia in drill hole FCD-23-034, outside of the MRE. 4) These three drill holes demonstrate the potential for near-surface resource expansion between the Copper Prince and Mammoth open pit shells.

Drill hole FCD-23-032 was collared west of the Pole breccia and drilled to the northeast at a 50-degree dip. The mineralization starts from surface and occurs in sheeted veins and transitions into mineralized hydrothermal breccia from 68.16 m to 85.86 m. The Pole breccia is situated between the Copper Prince and Mammoth open pit shells used to constrain the MRE.

Drill hole FCD-23-033 was collared west of the Pole breccia and drilled to the northeast, at a steeper angle than FCD-23-032, to test the southwestward extension of the vein-hosted mineralization surrounding the Pole breccia. The hole intersected three mineralized intervals, of which two, totalling 70.00 m, are located outside the MRE pit shell. Both holes drilled at the Pole breccia demonstrate the potential for resource expansion and open pit consolidation along the eastern breccia trend, which includes the Copper Prince and Mammoth breccias.

Drill hole FCD-23-034 was collared west of B-24 breccia and includes two mineralized intersections in an area between the Copper Prince and Mammoth open pit shells previously considered as waste in the MRE. The hole ends in mineralization and has the potential to connect these two resource pits.

Drill hole FCD-23-030 was collared in the previously undrilled Rye area and drilled to the northwest. This hole intersected short intervals of igneous cemented breccia and several zones of disseminated pyrite including one at a grade of 1.00 g/t silver over 22.30 m from 242.49 m in a sericite altered granodiorite porphyry. The abundance of pyrite, which commonly occurs above copper bearing sulphides in an outer alteration halo, suggests that the hole remained in the shallow portions of the mineral system. The area warrants additional drilling.

Drill hole FCD-23-031 was collared in the Rye area and drilled to the south. It intersected granodiorite porphyry in the upper half of the hole and veinlets containing pyrite cutting glory hole volcanics in the lower half of the hole. No copper mineralization was identified.

Drill hole FCD-23-035 was collared east of Copper Knight breccia and drilled towards the east to test a previously undrilled breccia target. It intersected an approximately 39-metre-wide zone of elevated copper from 84.80 m at 0.11% copper and 0.45 g/t silver associated with intense sericite alteration affecting granodiorite and breccia zones. Although this hole did not identify mineralization above the cut off grade used for the MRE, the results indicate that this area remains prospective for copper mineralization and merits follow-up.

Phase II drilling, which includes a total of twenty-eight drill holes was completed in June 2023. The results for twenty-six drill holes have been released to date. The assay results for the remaining two completed drill holes will be released as they are received, analyzed and confirmed by the Company. To rank and prioritize targets for the 20,000-metre Phase III drill program, the Company is integrating and interpreting multiple datasets, including geological mapping, drill core, airborne magnetic, electromagnetic, spectral and geochemical data. The Phase III drill program is scheduled to commence in the fourth quarter of 2023.