Mineral Resource

HISTORICAL MINERAL RESOURCE (1999)

San Manuel Project

CAUTIONARY NOTE: The estimates presented above are historical estimates only. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves and Faraday is not treating the historical estimates as current mineral resources or mineral reserves.

Notes:

1. The historical mineral resource estimates presented for the San Manuel Property are derived from estimates prepared by the former operator effective June 1, 1999 and are disclosed in the Company's technical report entitled "Technical Report – San Manuel Property, Pinal County, Arizona" filed on SEDAR+ on July 30, 2026 (the “San Manuel Technical Report”).
2. The historical estimates were prepared prior to the implementation of National Instrument 43-101 ("NI 43-101"), have not been prepared in accordance with the CIM Definition Standards incorporated by reference in NI 43-101, and should not be considered current mineral resources or mineral reserves.
3. The historical estimates were constrained using an assumed copper price of US$0.80/lb and therefore were prepared using economic assumptions that differ significantly from current market conditions. The historical estimates should not be relied upon for economic evaluation.
4. While Faraday believes the historical estimates are relevant to investors because they indicate the presence and approximate extent of mineralization at the San Manuel Property, additional drilling, geological modelling, verification and resource estimation work will be required before the historical estimates can be verified or upgraded to current mineral resources in accordance with NI 43-101.
5. (Sulfide M&I) Measured and Indicated Sulfide Mineral Resources have been adjusted to include historical Proven and Probable Mineral Reserves reported separately in Table 6-5 of the San Manuel Technical Report. Historical Sulfide Mineral Resources reported in Table 6-4  in the San Manuel Technical Report were disclosed exclusive of Mineral Reserves.
6. (Oxides) Historical oxide estimate comprises the historical oxide resource reported in Table 6-6 in the San Manuel Technical Report together with the historical heap-leach reserve reported separately in Table 6-7 in the San Manuel Technical Report. No Measured, Indicated, or Inferred classification was reported for the oxide estimate.
7. (Contained Metal) Contained copper is reported as contained total copper (TCu) and is shown for reference only. Contained copper does not reflect metallurgical recovery, mining recovery, dilution, or payability.