Further Phase IV Assay Results; Drilling Paused Ahead of Proposed Acquisition

Research evidence excerpt

Further Phase IV Assay Results; Drilling Paused Ahead of Proposed Acquisition

June 24, 2026 | 11:13 ET~

Faraday Copper Metals & Mining

Rene Cartier, CPA, CA, CBV, CFA Analyst

rene.cartier@bmo.com (416) 359-5011

FDY-TSX Rating Price: Jun-23 Target Total Rtn

Outperform(S) $5.58 $7.00 25% Nicholas Pantis Associate

nicholas.pantis@bmo.com (437) 992-5042

Legal Entity: BMO Nesbitt Burns Inc.

Further Phase IV Assay Results; Drilling Paused

Ahead of Proposed Acquisition

Bottom Line:

Faraday announced Phase IV results for 18 drill holes at Copper Creek. Drilling at

American Eagle intersected near-surface mineralization improving confidence ahead of 7.00 2YR Price Volume Chart

the next resource update. A reconnaissance drill hole east of Copper Giant identified a 6.00

new copper oxide mineralization zone, highlighting the potential to increase the oxide 5.00

resources, and supporting the prospects for expedited copper cathode production, while 4.00 15

10reconnaissance drilling at Sunrise suggested a potential porphyry centre outside the 3.002.00

current resource warranting follow-up drilling. 1.00 5

0.00 0

Key Points LHS: Price (C$) /DecRHS: Volume (mm)Jun Dec Source: FactSetJun

Faraday announced the results of five holes that were drilled in the American Eagle

area, six holes near Mammoth and Childs Aldwinkle, along with seven reconnaissance

exploration holes divided amongst the Sunrise trend, Marsha's Pocket, west of Old

Reliable, and east of Copper Giant.

American Eagle drilling intersected near-surface mineralization with four shallow-

angled drill holes. Significant intercepts include FCD-26-171 which intersected 35.35m at

0.58% copper from 85.4m within a broader interval of 71m at 0.41% copper from 80m,

and FCD-26-169 which intersected 67m at 0.3% copper from 30m.