Sonoran Desert Copper Corporation announced a private placement to issue 3,333,333 flow-through units at an issue price of CAD 0.075 per unit for the gross proceeds of CAD 249,999,975 and 10,000,000 units at an issue price of CAD 0.05 peer unit for the gross proceeds of CAD 500,000; aggregate gross proceeds of CAD 749,999.975 on May 17, 2023. Each FT Unit will consist of 1 flow-through common share and 1 common share purchase warrant each FT Warrant being exercisable for an additional common share at an exercise price of CAD 0.15 for 24 months. Each Unit will consist of 1 common share of the Company and 1 common share purchase warrant, with each Warrant being exercisable for an additional common share at an exercise price of CAD 0.10 for 36 months.

The Warrants are subject to the right of the Company to accelerate the exercise period if, after the expiration of the 4-month hold, shares of the Company close at or above CAD 0.50 for 10 consecutive trading days. Finders' fees in accordance with TSX Venture Exchange policies may apply to the Financing and all securities issued will be subject to a statutory four-month hold period.