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Arizona Sonoran Copper Company Inc. and Nuton LLC have agreed to terminate the option for a joint venture (OTJV) on the Cactus project, effective immediately, including the end of Nuton's investor rights agreement. Arizona Sonoran will independently advance the Cactus project, expecting to complete a feasibility study and permit amendments this year, with a final investment decision targeted for Q4 2026.

The company anticipates significant potential from primary sulphide mineral resources at depth and ongoing exploration of the Gap Zone and NE Extension. As part of the termination, Arizona Sonoran will make payments totaling up to $34.96 million to Nuton, including $15 million immediately and additional deferred payments contingent on future events.