Arizona Sonoran Appoints Minviro to Complete Carbon Emissions Framework Review

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CASA GRANDE, Ariz. & TORONTO–(BUSINESS WIRE)–$ASCU #ESGArizona Sonoran Copper Company Inc. (TSX:ASCU) (“ASCU” or the “Company”), an emerging US-based copper developer and near-term producer, has engaged London-based Minviro Ltd. to review its carbon emissions framework and determine the best path towards establishing a net-zero CO2 operation at the Cactus Project.

The Minviro-led Life Cycle Assessment (LCA) will enable ASCU to clearly and robustly quantify the life cycle impact of mining, processing and refining options and solutions, and detailed environmental impacts of the operation.

In conjunction with the launch of this review, the Compensation Committee of the Company and Board has also established specific ESG criteria linked key performance indicators in respect of management compensation. Full details of these key performance indicators will be made available in the Company’s management information circular in 2022.

George Ogilvie, Arizona Sonoran President and CEO commented, “Being proactive about managing our impacts and achieving a net zero operation is at the core of ASCU’s corporate and ESG strategy. The launch of the partnership with Minviro will assist our carbon conscious management team to ensure minimal carbon emissions from our operations in the medium-long term and manage our supply chain effectively to support the goals set by the Paris Agreement. As we advance through our pre-feasibility and feasibility studies, the LCA will provide us with high-quality operating data which we will integrate into our technical studies, targeted towards the achievement of our net zero goal in the long term. Incorporating ESG criteria into management compensation KPIs further aligns our interests with those of our stakeholders and we look forward to updating all stakeholders in due course regarding this exciting initiative.”

Key components of the LCA to be based on the Integrated Cactus PEA include:

  • the determination of ASCU’s baseline carbon footprint;
  • identifying scope 1 and 2 upstream and downstream emissions;
  • identifying scope 3 emissions generated by potential materials consumed at site and in the production of copper cathode product;
  • LCA inventory data for copper cathode production process; and
  • assessment of climate change impact.

Once the baseline product carbon footprint is determined, the environmental and economic value proposition of CO2 mitigation and minimum impact scenarios will be investigated. The goal of the assessment is to develop a framework which feeds into ASCU’s PFS and DFS to provide a pathway to net zero operations at the Cactus Project.

About Minviro (www.minviro.com)

Minviro is a London-based consultancy and technology company that specializes in providing quantitative environmental impact data and mitigation strategies for resource projects. Minviro believes in the value of integrating quantitative environmental impact data obtained by life cycle thinking into day-to-day decision-making and long-term strategic planning in the mining industry. The team comprises of a group of world class individuals who have advised on ISO-compliant professional LCA studies for technology and base metal products, ranging from lithium to copper and nickel.

About Arizona Sonoran Copper Company (www.arizonasonoran.com | www.cactusmine.com)

ASCU’s objective is to become a mid-tier copper producer with low operating costs, develop the Cactus Project that could generate robust returns for investors, and provide a long term sustainable and responsible operation for the community and all stakeholders. The Company’s principal asset is a 100% interest in the Cactus Project (former ASARCO, Sacaton mine) which is situated on private land in an infrastructure-rich area of Arizona. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America complemented by global capital markets expertise.

Forward-Looking Statements

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of ASCU to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, projected cash operating costs, failure to obtain regulatory or shareholder approvals.

Although ASCU has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and ASCU disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

Contacts

Alison Dwoskin, Director, Investor Relations

647-233-4348

[email protected]

George Ogilvie, President, CEO and Director

416-723-0458

[email protected]

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