VANCOUVER, BC / ACCESS Newswire / November 13, 2025 / Faraday Copper Corp. ("Faraday" or the "Company") (TSX:FDY) announces its financial results for the three and nine months ended September 30, 2025.
Highlights Year to Date
Announced initiation of the largest ever drill program at the Copper Creek Project on September 18, 2025. The Phase IV drill program plans for 40,000 metres ("m") of diamond drilling focused on the American Eagle area as well as new targets, infill, geotechnical, infrastructure, and hydrological drilling.
Closing of a financing for gross proceeds of $48,773,450 on July 29, 2025. The financing includes a brokered bought deal private placement involving the issuance of 26,139,500 common shares at a price of $1.10 per share, and a non-brokered private placement of 18,200,000 common shares at a price of $1.10 per share.
Announced approval from the Bureau of Land Management ("BLM") for the Company's exploration plan of operations at the Copper Creek Project on July 2, 2025.
Announced an expansion of the near-surface mineralization in the American Eagle Area and identification of exploration upside at the Sunrise Trend, on June 19, 2025.
Reported results from the Company's annual general meeting on June 18, 2025.
Reported near-surface supergene copper mineralization at the Globe and Copper Prince breccias, including 10.08 m at 3.62% copper and 38.90 m at 0.51% copper, on May 15, 2025.
Announced discovery of blind Winchester Breccia and expansion of near-surface mineralization in the American Eagle Area and provided a corporate update on May 6, 2025.
Reported 56.57 m at 0.59% copper at the Boomerang breccia and 18.49 m at 0.98% copper at the Banjo breccia on March 19, 2025.
Reported positive metallurgical results confirming high copper recovery through coarse grind and flotation on February 20, 2025.
Reported 47.95 m at 0.74% copper within 304.40 m at 0.35% copper in the American Eagle Area on January 30, 2025.
Reported 40.06 m at 0.78% copper within 109.42 m at 0.41% copper at the Boomerang breccia and expanded near-surface mineralization on January 8, 2025.
Continued baseline environmental data collection, stakeholder mapping, and generative exploration targeting at the Copper Creek Project to provide a pipeline of future targets through ongoing geological mapping and recently reprocessed and newly acquired geophysical data.
Upcoming Copper Creek Project Milestones
On-going drill results from the 40,000 m Phase IV drill program.
Copper Creek Project Update
The project is a 100% owned, large copper deposit, located ~80 road kilometres ("km") northeast of Tucson, Arizona, and ~19 km northeast of San Manuel, Arizona. The resource area is ~3 km in length and is open in all directions. The property consists of ~78 square km of private land, patented and unpatented mining claims, and state prospecting permits. In addition, the Company controls ~26,000 acres of grazing leases which partially overlap with the claims and permits. The property is located within a historical mining district and a politically stable jurisdiction with extensive infrastructure including power, rail, roads, and access to skilled personnel.
The property is in the heart of the prolific southwestern porphyry copper region of North America at the projected intersection of a major northwest trending belt of copper deposits (Ray, Miami/Globe, Superior/Resolution, Johnson Camp) and a major east-northeast trending belt of deposits (San Manuel/Kalamazoo, Silver Bell, Lakeshore, Safford, Morenci).
The property hosts an early halo vein style porphyry copper deposit with high-grade, near-surface, breccia-hosted mineralization. Both mineralization types form the basis of the current Mineral Resource Estimate ("MRE") prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum standards. Copper is the primary commodity, with molybdenum, silver and gold present in varying amounts associated with both types of mineralization.
On May 3, 2023, the Company announced an updated MRE and Preliminary Economic Assessment ("PEA") for the project, with a technical report titled "Copper Creek Project NI 43-101 Technical Report and Preliminary Economic Assessment" filed on SEDAR+ on June 13, 2023.
With a total of over 257,000 m of recent and historical drilling and modest past production, significant exploration upside remains. There are over 320 known breccia occurrences mapped at the surface, of which less than 15% have been drill tested and only 17 are included in the 2023 MRE.
In the Phase II drill program, assay results confirmed the potential for gold to occur in economic concentrations in certain phases of the mineralization. Gold is not currently included in the 2023 MRE. A sampling program for potential gold inclusion in future technical studies was undertaken. The results from the Childs Aldwinkle and Copper Prince breccias, as well as the Keel underground zone, have been returned and released. The Company continues to evaluate other areas for potential inclusion of gold in future mineral resource updates.
Phase III drilling was completed in mid-April 2025 with 79 drill holes and 30,071 m of drilling. All results from the Phase III drilling have been released. The program's framework was based on historical work, knowledge from the geological and recently updated structural model, the results from the Phase I and Phase II drill programs, geophysical and airborne spectral data sets, and economic criteria defined in the 2023 PEA base case.
The focus of drilling was on the near-surface mineralization in the American Eagle, Area 51 and Rum areas.
On June 30, 2025, the Company received approval of its Exploration Plan of Operations ("EPO") by the BLM. The BLM published the final environmental assessment, and finding of no significant impact ("FONSI") and issued a related decision record approving the EPO. The EPO includes up to 67 drill pads located on Federal land:
48 drill pads in or near the American Eagle area and the southern portion of the Mammoth resource area;
10 drill pads in or near other existing resource areas at Old Reliable, Globe, Copper Prince and Copper Giant; and
9 drill pads that enable reconnaissance drilling on previously untested targets.
Phase IV drilling commenced on September 18, 2025, with a planned 40,000 m diamond drill program with the goal of building on the Company's previous drilling success. The program will focus on the American Eagle area as well as new targets, infill, geotechnical, infrastructure, and hydrological drilling:
~20,000 m focused on American Eagle near-surface mineralization;
~10,000 m targeting oxide mineralization to increase the potential of copper cathode production; and
~10,000 m for new discoveries in the Copper Creek district.
The Company has reported results from metallurgical programs focused on grind size optimization that demonstrated the viability of coarse particle flotation, gold recoveries in concentrate and test work on near surface oxide mineralization.
The Company is focusing on exploration at the property while continuing to advance technical studies, environmental data gathering, and stakeholder outreach.
Financial Results
| Three months ended |
|
| Nine months ended |
| |||||||||||
In Canadian dollars |
| Sept 30, 2025 |
|
| Sept 30, 2024 |
|
| Sept 30, 2025 |
|
| Sept 30, 2024 |
| ||||
Exploration and evaluation expenses |
| $ | 4,065,027 |
|
| $ | 3,468,057 |
|
| $ | 14,695,714 |
|
| $ | 12,264,415 |
|
General and administration |
| $ | 1,163,906 |
|
| $ | 629,639 |
|
| $ | 2,431,558 |
|
| $ | 1,894,648 |
|
Share-based compensation |
| $ | 466,647 |
|
| $ | 269,620 |
|
| $ | 1,313,451 |
|
| $ | 862,279 |
|
Net Loss |
| $ | 5,457,549 |
|
| $ | 4,341,859 |
|
| $ | 18,692,360 |
|
| $ | 15,268,194 |
|
Basic and Diluted Loss per Share |
| $ | 0.02 |
|
| $ | 0.02 |
|
| $ | 0.09 |
|
| $ | 0.08 |
|
Note: The financial information in this table was selected from the Company's condensed interim consolidated financial statements for the three and nine months ended September 30, 2025 (the "Financial Statements"), which are available on SEDAR+ at www.sedarplus.ca and the Company's website www.faradaycopper.com.
Selected Financial Information
In Canadian dollars |
| September 30, 2025 |
|
| December 31, 2024 |
| ||
Cash and cash equivalents |
| $ | 45,875,360 |
|
| $ | 17,003,895 |
|
Property and equipment |
| $ | 17,728,308 |
|
| $ | 18,037,072 |
|
Resource properties |
| $ | 4,955,328 |
|
| $ | 4,955,328 |
|
Total assets |
| $ | 69,152,065 |
|
| $ | 40,578,185 |
|
Note: The financial information in this table was selected from the Financial Statements, which are available on SEDAR+ at www.sedarplus.ca and the Company's website www.faradaycopper.com.
Cash Flow, Liquidity and Capital Resources
The Company is a resource exploration-stage company and does not generate any revenue and has been mainly relying on equity-based financing to fund its operations. As at September 30, 2025, the Company had cash and cash equivalents of $45,875,360 (December 31, 2024 - $17,003,895) and current assets less current liabilities of $42,821,910 (December 31, 2024 - $13,129,205). While the Company has sufficient capital resources to fund its operations for the next 12 months, it is an exploration-stage company and does not anticipate achieving positive cash flow from operations for the foreseeable future. Accordingly, the Company anticipates needing to raise additional capital to fund its long-term business objectives.
During the nine months ended September 30, 2025, cash used in operating activities was $18,018,027 (2024 - $14,557,093), cash used in investing activities was $549,510 (2024 - $432,123), and cash provided by financing activities was $47,449,611 (2024 - $22,138,253). The Company continues to incur operating costs primarily related to exploration and evaluation expenses and, except for the July 2025 Financing, no other significant investing or financing activities occurred during the nine months ended September 30, 2025.
On May 30, 2024, the Company completed a private placement financing for net proceeds of $22,138,253, which included share issuance costs of $861,747, to fund its operations.
On July 29, 2025, the Company completed a private placement financing for net proceeds of $46,964,411. The Company intends to use the proceeds from the financing to advance the Copper Creek Project and for general working capital purposes.
About Faraday Copper
Faraday Copper is an exploration company focused on advancing its flagship copper project in Arizona, U.S. The Copper Creek Project is one of the largest undeveloped copper projects in North America with significant district scale exploration potential. The Company is well-funded to deliver on its key milestones and benefits from a management team and board of directors with senior mining company experience and expertise. Faraday trades on the TSX under the symbol "FDY".
For additional information please contact:
Stacey Pavlova, CFA
Vice President, Investor Relations & Communications
Faraday Copper Corp.
E-mail: info@faradaycopper.com
Website: www.faradaycopper.com
Cautionary Note on Forward Looking Statements
Some of the statements in this news release, other than statements of historical fact, are "forward-looking statements" and are based on the opinions and estimates of management as of the date such statements are made and are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements of Faraday to be materially different from those expressed or implied by such forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning the future drilling and exploration potential of the Copper Creek property.
Although Faraday believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially. Accordingly, readers should not place undue reliance on forward-looking statements or information.
Factors that could cause actual results to differ materially from those in forward-looking statements include without limitation: market prices for metals; the conclusions of detailed feasibility and technical analyses; lower than expected grades and quantities of resources; receipt of regulatory approval; receipt of shareholder approval; mining rates and recovery rates; significant capital requirements; price volatility in the spot and forward markets for commodities; fluctuations in rates of exchange; taxation; controls, regulations and political or economic developments in the countries in which Faraday does or may carry on business; the speculative nature of mineral exploration and development, competition; loss of key employees; rising costs of labour, supplies, fuel and equipment; actual results of current exploration or reclamation activities; accidents; labour disputes; defective title to mineral claims or property or contests over claims to mineral properties; unexpected delays and costs inherent to consulting and accommodating rights of Indigenous peoples and other groups; risks, uncertainties and unanticipated delays associated with obtaining and maintaining necessary licenses, permits and authorizations and complying with permitting requirements, including those associated with the Copper Creek property; and uncertainties with respect to any future acquisitions by Faraday. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental events and hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and the risk of inadequate insurance or inability to obtain insurance to cover these risks as well as "Risk Factors" included in Faraday's disclosure documents filed on and available at www.sedarplus.ca.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make such an offer or solicitation in such jurisdiction. This press release is not, and under no circumstances is to be construed as, a prospectus, an offering memorandum, an advertisement or a public offering of securities in Faraday in Canada, the United States or any other jurisdiction. No securities commission or similar authority in Canada or in the United States has reviewed or in any way passed upon this press release, and any representation to the contrary is an offence.
SOURCE: Faraday Copper Corp.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/faraday-copper-reports-third-quarter-2025-financial-results-1101929