Nuton is making a difference. This year, Nuton has been recognized by TIME as one of the 10 most influential companies in sustainability for 2026 — part of the inaugural TIME100 Companies: Industry Leaders list, spotlighting the companies shaping their sectors across 20 industries.
“This recognition is not about celebrating outcomes or milestones, but about acknowledging the purpose behind our work and the direction we are continuing to build toward” says Cecilia Perla, Vice President of Growth and Sustainability and acting CEO.
Nuton’s sustainability breakthrough in copper mining
This recognition follows a milestone year for Nuton. In December 2025, Nuton produced its first copper at industrial scale at the Johnson Camp Mine in Arizona, using proprietary bioleaching technology that integrates biology, chemistry, engineering and digital tools.
Anything that runs on electricity requires copper, and the world runs on electricity. Nuton’s mission is to provide the world with not just more copper, but better copper.
The results speak for themselves: up to 85% copper recovery, up to 80% less water use and up to 60% lower carbon emissions compared to conventional processing, with an expected mine-to-metal footprint of 0.82 kg CO₂-e/kg Cu, the lowest in the United States.
This is what Nuton was built to prove: that more copper, from more places, with radically less impact, is a reality. Nuton is proud to be recognized by TIME100 alongside the companies defining what sustainability looks like in practice, and even prouder of the work that earned it.
Casa Grande, AZ and Toronto, ON, February 17, 2026 – Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) today announces that ASCU and Nuton LLC (“Nuton”), a Rio Tinto Venture, have mutually agreed to the early termination of the Option to Joint Venture (“OTJV”) on the Cactus Project, as well as the termination of Nuton’s investor rights agreement with the Company, effective immediately.
George Ogilvie, President and CEO of Arizona Sonoran Copper Company commented, “We appreciate Rio Tinto’s endorsement of the Cactus Project through Nuton’s initial investment and shareholding, together with the constructive joint work under the OTJV to study the potential of deploying Nuton technology at the Cactus Project. It has been a productive relationship, and we look forward to continuing engagement and dialogue with a valued shareholder in Nuton-Rio Tinto.
We look forward to continuing the successful advancement of our standalone Cactus Project. We anticipate the Feasibility Study and final permit amendments later this year, and a final investment decision is contemplated as early as 4Q 2026. Over and above the pending Feasibility Study mine plan which will outline the extraction of oxides and enriched materials, there remains significant upside at the Cactus Project with opportunities to potentially develop the significant primary sulphide Mineral Resource at depth, as disclosed in the Pre-Feasibility Study Technical Report, and in planned further exploration of the ‘Gap Zone’ and the ‘NE Extension’.”
The parties have agreed that the termination of the OTJV and Nuton investor rights agreement with the Company is effective immediately and was completed largely in line with the applicable terms of the OTJV, resulting in payments from the Company to Nuton of:
- US$15,000,000 immediately;
- a deferred payment of US$5,000,000 payable on the earlier of the 1-year anniversary of signing of the termination agreement or consummation of a change of control transaction; and
- a contingent, deferred cash payment of US$14,957,816 payable only on consummation of a change of control transaction that is publicly announced or subject to a definitive agreement within 24 months of signing of the termination agreement.
In connection with the termination, Nuton agreed to provide the Company with all non-interpretative results of (i) completed analyses of Cactus Project ore samples and (ii) any completed ‘Phase 2’ metallurgical testing performed by or on behalf of Nuton under the OTJV prior to its termination.
Neither the Toronto Stock Exchange nor the regulating authority has approved or disproved the information contained in this press release.
Links from the PR:
Pre-Feasibility Study Technical Report: https://arizonasonoran.com/projects/technical-reports/
About Arizona Sonoran Copper Company (www.arizonasonoran.com | www.cactusmine.com) ASCU is a copper exploration and development company with a 100% interest in the brownfield Cactus Project. The Cactus Project, on privately held land, contains a large-scale porphyry copper resource and a recent 2025 PFS proposes a generational open pit copper mine with robust economic returns. Cactus is a lower risk copper developer benefitting from a State-led permitting process, in place infrastructure, highways and rail lines at its doorstep and onsite permitted water access. The Company’s objective is to develop Cactus and become a mid-tier copper producer with low operating costs, that could generate robust returns and provide a long-term sustainable and responsible operation for the community, investors and all stakeholders. The Company is led by an executive management team and board which have a long-standing track record of successful project delivery in North America complemented by global capital markets expertise.
For more information
Alison Dwoskin, Vice President, Investor Relations
647-233-4348
adwoskin@arizonasonoran.com
George Ogilvie, President, CEO and Director
416-723-0458
gogilvie@arizonasonoran.com
Cautionary Statements regarding Forward-Looking Statements
All statements, other than statements of historical fact, contained or incorporated by reference in this press release constitute “forward-looking statements” and ” “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “advancement”, “anticipate”, “as early as”, “become”, “believes”, “contemplated”, “contingent”, “continuing”, “decision”, “deferred”, “development”, “eventual”, “exploration”, “feasibility”, “forward”, “generational”, “intended”, “later”, “long-term”, “look”, “objectives”, “opportunities”, “outcomes”, “outline”, “pending”, “plan”, “potentially”, “project”, “proposes”, “provide”, “risk”, “study”, “subject to”, “to be”, “upside”, and “will”, or variations of such words, and similar such words, expressions or statements that certain actions, events or results can, could, may, should, would, will (or not) be achieved, occur, provide, result or support in the future, or which, by their nature, refer to future events. In some cases, forward-looking information may be stated in the present tense, such as in respect of current matters that may be continuing, or that may have a future impact or effect. Forward-looking statements include those relating to the implications of, and future obligations of the parties (including deferred payments and any change of control as contingency trigger therefor or otherwise) under, the termination of the OTJV and Rio Tinto’s investor rights agreement; advancement or development of the Cactus Project; Mineral Resources and Mineral Reserves generally (which are estimates only) and any development or realization thereof (including primary sulphides at depth); future opportunities or upside including any development of primary sulphide or other Mineral Resourcess, and exploration of the ‘Gap Zone’ or ‘NE Extension’, and and outcomes thereof; the Feasibility Study (including resulting mine plan), final permit amendments and any final investment decision for the Cactus Project (including the results or other outcomes or implications, and timing thereof); any continuing dialogue with Nuton-Rio Tinto or the outcome or implications thereof; the risk of the Cactus Project; proposal of a generational open pit copper mine; the Company’s strategic and other objectives (including developing the Cactus Project and becoming a mid-tier copper producer with low operating costs, that could generate robust returns and provide a long-term sustainable and responsible operation for the community, investors and all stakeholders). Although the Company believes that such statements are reasonable, there can be no assurance that those forward-looking statements will prove to be correct, and any forward-looking statements by the Company are not guarantees of future actions, results or performance. Forward-looking statements are based on assumptions, estimates, expectations and opinions, which are considered reasonable and represent best judgment based on available facts, as of the date such statements are made. If such assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results may be materially different than expressed or implied in the forward-looking statements. The assumptions, estimates, expectations and opinions referenced, contained or incorporated by reference in this press release which may prove to be incorrect include those set forth or referenced in this press release, as well as those stated in the Company’s prior press releases referenced herein (collectively, the “Referenced PRs”), the technical report titled “NI 43-101 Technical Report Pre-Feasibility Study of the Cactus Mine Project, Pinal County, Casa Grande Arizona” with an effective date of October 20, 2025 and an issue date of November 17, 2025 (the “PFS Technical Report”), the Company’s Annual Information Form dated March 27, 2025 (the “AIF”), Management’s Discussion and Analysis (together with the accompanying financial statements) for the year ended December 31, 2024 and the quarter(s) already ended and reported in 2025 (collectively, the “2024-25 Financial Disclosure”) and the Company’s other applicable public disclosure (collectively, “Company Disclosure”), all available on the Company’s website at www.arizonasonoran.com and under its issuer profile at www.sedarplus.ca. Forward-looking statements are inherently subject to known and unknown risks, uncertainties, contingencies and other factors which may cause the actual results, performance or achievements of ASCU to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties, contingencies and other factors include, among others, that the early termination of the OTJV and the Rio Tinto investor rights agreement are not executed consistent as contemplated by the agreement and/or consistent with the Company’s expectations and the potential negative implications and associated costs thereof (including any dispute and/or litigation relating thereto, and resulting negative impacts on the Company’s share price and/or successful advancement of the Cactus Project on the currently anticipated timeline through to Feasibility Study, project financing (on amenable terms or at all) and any eventual final investment decision, and the failure to realize any such objectives, on a basis consistent with the Company’s expectations or at all); advancement or development of the Cactus Project not being consistent with the Company’s expectations, being successful or completed or occurring at all; necessary financing (including project financing) not being advanced or available or secured on time and/or terms amenable to the Company or at all; the Feasibility Study, required permit amendments and/or any final investment decision (including the results or other outcomes or implications, and timing thereof) not being completed consistent with the Company’s expectations or being completed at all, and the potential negative implications thereof; and opportunities and upside at the Cactus Project (including development of primary sulphide or other Mineral Resources outside the pending Feasibility Study mine plan, and exploration of the ‘Gap Zone’ or ‘NE Extension’ and any results thereof) not being pursued or realized on a basis consistent with the Company’s plans ; the accuracy of the Mineral Resource and Mineral Reserve estimates for the Cactus Project (including related modelling) and the Company’s analysis thereof, and such estimates, modelling and analysis, not being consistent with actual results or otherwise not meeting expectations (including ore and contained copper tonnages, grade, recoveries and applicable royalties), and future Mineral Resource and Mineral Reserve estimates for the Cactus Project not being consistent with the mineral resource and mineral reserve estimates (or MRE) reported in and relied upon in the PFS, and any development or realization of such Mineral Resource or Mineral Reserve estimates not being consistent with the Company’s expectations or occurring at all (see also further cautionary statements below under the heading “Mineral Resource Estimates”), and/or expectations or at all, as well as the “Risk Factors” in the AIF, and the risks, uncertainties, contingencies and other factors identified in the Referenced PRs, the PFS Technical Report and the 2024-25 Financial Disclosure. The foregoing list of risks, uncertainties, contingencies and other factors is not exhaustive; readers should consult the more complete discussion of the Company’s business, financial condition and prospects that is provided in the AIF, the 2024-25 Financial Disclosure and other Company Disclosure. Although ASCU has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this press release (or as otherwise expressly specified) and ASCU disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements referenced or contained in this press release are expressly qualified by these Cautionary Statements as well as the Cautionary Statements in the AIF, the Referenced PRs, the PFS Technical Report and the 2024-25 Financial Disclosure.
Mineral Resource Estimates
Until mineral deposits are actually mined and processed, copper and other Mineral Resources (which include Mineral Reserves) must be considered as estimates only. Mineral Resource Estimates that are not classified as Mineral Reserves do not have demonstrated economic viability. The estimation of Mineral Resources (including Mineral Reserves) is inherently uncertain, involves subjective judgement about many relevant factors and may be materially affected by, among other things, environmental, permitting, legal, title, taxation, socio-political, marketing, or other known and unknown risks, uncertainties, contingencies and other factors described in the foregoing Cautionary Statements on Forward-Looking Statements. The quantity and grade of reported “Inferred” Mineral Resource Estimates are uncertain in nature and there has been insufficient exploration to define “Inferred” Mineral Resource Estimates as an “Indicated” or “Measured” Mineral Resource and it is uncertain if further exploration will result in upgrading “Inferred” Mineral Resource Estimates to an “Indicated” or “Measured” Mineral Resource category. Inferred Mineral Resource Estimates may not form the basis of feasibility or pre-feasibility studies or economic studies except for preliminary economic assessments. The accuracy of any Mineral Resource Estimate (including Mineral Reserves) is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation, which may prove to be unreliable and depend, to a certain extent, upon the analysis of drilling results and statistical inferences that may ultimately prove to be inaccurate. It cannot be assumed that all or any part of a “Inferred”, “Indicated” or “Measured” Mineral Resource Estimate will ever be upgraded to a higher category including a Mineral Reserve. The Mineral Resource Estimates (including Mineral Reserves) declared by the Company were estimated, categorized and reported using standards and definitions in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards for Mineral Resources and Mineral Reserves (the “CIM Standards”) in accordance with National Instrument 43-101 of the Canadian Securities Administrators (“NI 43-101”), which governs the public disclosure of scientific and technical information concerning mineral projects.
U.S. Readers
The terms “Mineral Reserve”, “Proven Mineral Reserve”, “Probable Mineral Reserve”, “Mineral Resource”, “Measured Mineral Resource”, “Indicated Mineral Resource”, and “Inferred Mineral Resource”, as disclosed by the Company are Canadian mining terms defined in the CIM Standards (collectively, the “CIM Definitions”) in accordance with NI 43-101. NI 43-101 establishes standards for all public disclosure that a Canadian issuer makes of scientific and technical information concerning mineral projects. These Canadian standards differ from the requirements of the United States Securities and Exchange Commission (the “SEC”) applicable to United States domestic and certain foreign reporting companies under Subpart 1300 of Regulation S-K (“S-K 1300”). Accordingly, information describing Mineral Resource Estimates (including Mineral Reserves) for the Cactus Project may not be comparable to similar information publicly reported in accordance with the applicable requirements of the SEC, and so there can be no assurance that any Mineral Resource Estimate (including Mineral Reserves) for the Cactus Project would be the same had the estimates been prepared per the SEC’s reporting and disclosure requirements under applicable United States federal securities laws, and the rules and regulations thereunder, including but not limited to S-K 1300. Further, there is no assurance that any Mineral Resource Estimate or Mineral Reserve Estimate that the Company may report under NI 43-101 would be the same had the Company prepared such estimates under S-K 1300.
Vancouver, British Columbia – January 22, 2026 — Lion Copper and Gold Corp. (“Lion CG” or the “Company”) is pleased to announce that it has received US$30.5 million from Nuton LLC (“Nuton”), a wholly-owned subsidiary of Rio Tinto, further to the Company’s press release dated November 24, 2025, pursuant to the parties’ previously announced earn-in agreement relating to the advancement of the Yerington Copper Project in Nevada, USA.
The funding represents Nuton’s investment under Stage 3 of the earn-in framework and will be used to advance the Definitive Feasibility Study (DFS) and associated permitting activities, including technical optimization, engineering, environmental studies, and regulatory engagement.
“This investment represents a major execution milestone for Lion CG and further validates the scale, quality and strategic importance of the Yerington Copper Project,” said John Banning, Chief Executive Officer of Lion CG. “This substantial partner funding enables the Company to advance the DFS and permitting work without significant dilution and execution risk for Lion CG shareholders.”
The Yerington Copper Project is located in a Tier-1 U.S. jurisdiction and has the potential, subject to the outcomes of ongoing studies and permitting, to contribute to the domestic production of copper cathode. Establishing additional U.S.-based copper cathode supply is increasingly viewed as strategically important given rising demand from electrification, grid modernization, electric vehicles, and data center infrastructure, and ongoing efforts to strengthen domestic critical mineral supply chains.
Lion CG intends to progress the Yerington Copper Project toward qualification under the U.S. federal FAST-41 permitting framework, which is designed to enhance transparency, coordination, and predictability in the federal permitting process for major infrastructure and critical mineral projects.
As part of the DFS work program, the Nuton® Technology is expected to be further refined, with the objective of improving copper recoveries and potentially reducing capital intensity and environmental footprint relative to conventional processing routes.
Lion CG remains focused on disciplined project advancement, capital stewardship, and long-term value creation as it advances Yerington toward potential development in support of secure, domestic copper supply.
About Lion CG
Lion CG is a junior mining company advancing its Yerington, MacArthur and Bear projects in Lyon County, Nevada through an earn-in agreement with Nuton. The Project focuses on accelerating production from its long-life, low-strip-ratio, brownfield-advantaged Yerington Copper Project utilizing modern processing technologies.
About Nuton
Nuton is an innovative venture that aims to help grow Rio Tinto’s copper business. At the core of Nuton is a portfolio of proprietary copper leaching related technologies and capability that offers the potential to economically unlock copper from primary sulfide resources through leaching, achieving market-leading recovery rates and contributing to an increase in copper production at new and ongoing operations.
One of the key differentiators of Nuton is the ambition to produce the world’s lowest footprint copper while having at least one Positive Impact at each deployment site across five pillars: water, energy, land, materials and society.
To learn more about Nuton, visit https://nuton.tech/
John Banning
Chief Executive Officer
Lion Copper and Gold Corp.
For more information, please contact:
Email: info@lioncg.com
Forward-Looking Statements
Neither Canadian Stock Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the policies of the CSE Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking statements”). Forward-looking statements relate to future events or performance and reflect the Company’s current expectations or beliefs regarding future events. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements in this release include, but are not limited to, completion of a Definitive Feasibility Study, permitting, engineering and technical work programs; the potential timing and pathway to commercial copper cathode production; the potential deployment of Nuton® Technology at the Yerington Copper Project; the possible creation of an investment vehicle and the respective ownership interests upon completion of Stage 3; the Company’s expectations regarding project derisking, strategic milestones, and ongoing collaboration with Nuton; and the Yerington Project’s ability to contribute to domestic copper supply and respond to increasing market demand. Forward-looking statements are based on a number of assumptions that, while considered reasonable by the Company at the date of this news release, are inherently subject to significant operational, technical, economic, and competitive uncertainties and contingencies. These assumptions include, but are not limited to: that the Feasibility Study and permitting process will be completed on the anticipated schedule; that Nuton™ Technology will operate as intended at scale; that required regulatory approvals will be obtained; that financing will be available on reasonable terms; and that market conditions for copper will remain favourable. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking statements. These risks include, but are not limited to: risks related to mineral exploration and development, permitting delays, changes in regulatory frameworks, cost escalation, inability to secure financing, technical challenges associated with deployment of new extraction technologies, commodity price fluctuations, community relations, supply chain constraints, and other customary risks in the mining and technology sectors. There can be no assurance that Stage 3 will be completed as contemplated, or at all, that the Parties will proceed to establish an investment Vehicle upon completion of Stage 3, that the Yerington Project will reach commercial production, or that Nuton® Technology will provide intended benefits at scale. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake any obligation to update or revise any forward-looking statements except as required by applicable securities laws. Forward-looking statements speak only as of the date of this news release
Rio Tinto today announces a strategic collaboration with Amazon Web Services (AWS) that will see AWS become Nuton® Technology’s first customer following the breakthrough industrial-scale deployment of the innovative bioleaching technology at the Johnson Camp copper mine in the U.S. last month.
Under the two-year agreement, AWS will use the first Nuton copper ever produced in components of its U.S. data centres, while also providing cloud-based data and analytics support to accelerate the optimisation of Nuton’s proprietary bioleaching technology at Gunnison Copper’s Johnson Camp mine. Data centres use copper in a wide variety of applications, including electrical cables and busbars, windings in transformers and motors, printed circuit boards, and heat sinks on processors.
Nuton is also utilising AWS platforms to simulate heap-leach performance and feed advanced analytics into Nuton’s decision systems, allowing for optimised acid and water use while improving predictions for copper recovery. It’s modular bioleaching system works by extracting copper from primary sulphide ores using naturally occurring microorganisms. This approach, combined with digital tools, enables rapid scaling and tailoring of the technology to different ore bodies, reducing the pathway from concept to production.
The process produces 99.99% pure copper cathode at the mine gate and removes the need for traditional concentrators, smelters and refineries, significantly shortening the mine-to-market supply chain. Nuton is projected to use substantially less water and have lower carbon emissions compared with conventional concentrator processing routes, while also recovering value from ore previously classified as waste.
Rio Tinto Copper Chief Executive Katie Jackson said:“This collaboration is a powerful example of how industrial innovation and cloud technology can combine to deliver cleaner, lower-carbon materials at scale. Nuton has already proven its ability to rapidly move from idea to industrial production, and AWS’s data and analytics expertise will help us to accelerate optimisation and verification across operations.
“Importantly, by bringing Nuton copper into AWS’s U.S. data-centre supply chain, we’re helping to strengthen domestic resilience and secure the critical materials those facilities need, closer to where they’re used. Together we can supply the copper critical to modern data infrastructure while demonstrating how mining can contribute to more sustainable supply chains.”
Amazon’s Chief Sustainability Officer Kara Hurst said: “Amazon’s Climate Pledge goal to reach net zero carbon by 2040 requires us to innovate across every part of our operations, including how we source the materials that power our infrastructure.
“This collaboration with Nuton Technology represents exactly the kind of breakthrough we need—a fundamentally different approach to copper production that helps reduce carbon emissions and water use. As we continue to invest in next-generation carbon-free energy technology and expand our data centre operations, securing access to lower-carbon materials produced close to home strengthens both our supply chain resilience and our ability to decarbonize at scale.”
Gunnison Copper’s Johnson Camp mine in Arizona is now the lowest-carbon primary copper producer in the U.S. on the mine to refined metal basis widely used by industry. Recent third-party life cycle assessment (LCA) has confirmed Johnson Camp’s Nuton copper is expected to have a full scope carbon footprint (Scope 1+2+3) of just 2.82 kgCO₂e/kg Cu. The full-scope carbon footprint of primary copper varies by production method and technology but ranges from approximately 1.5 to 8.0 kgCO₂e/kg Cu globally.
Through the purchase of 134,000 Green-e Energy certified renewable energy certificates, Nuton ensures 100% of the site’s electricity is matched by on-site electricity consumption. Additionally, water intensity is anticipated to be 71 litres per kilogram copper, compared to the global average industry estimate of ~130 litres per kilogram of copper production[1].
The project is targeting production of approximately 30,000[2] tonnes of refined copper across a four-year deployment period.
Contacts
Please direct all enquiries to media.enquiries@riotinto.com
| Media Relations, United Kingdom Matthew Klar M +44 7796 630 637 David Outhwaite M +44 7787 597 493 | Media Relations, Australia Matt Chambers M +61 433 525 739 Alyesha Anderson M +61 434 868 118 Rachel Pupazzoni M +61 438 875 469 Bruce Tobin M +61 419 103 454 | Media Relations, Canada Simon Letendre M +1 514 796 4973 Malika Cherry M +1 418 592 7293 Vanessa Damha M +1 514 715 2152 |
| Investor Relations, United Kingdom Rachel Arellano M: +44 7584 609 644 David Ovington M +44 7920 010 978 Laura Brooks M +44 7826 942 797 Weiwei Hu M +44 7825 907 230 | Investor Relations, Australia Tom Gallop M +61 439 353 948 Eddie Gan-Och M +976 95 091 237 | Media Relations, US & Latin America Jesse Riseborough M +1 202 394 9480 |
| Rio Tinto plc 6 St James’s Square London SW1Y 4AD United Kingdom T +44 20 7781 2000 Registered in England No. 719885 | Rio Tinto Limited Level 43, 120 Collins Street Melbourne 3000 Australia T +61 3 9283 3333 Registered in Australia ABN 96 004 458 404 |
[1] Water and carbon emissions intensities for Johnson Camp and global averages have been validated by Skarn Associates, a leading provider of carbon and water intensity curves for the industry.
[2] Includes ~16kt from run of mine leaching pad and ~14kt from Nuton technology.
Another round of awards honors Nuton. This time, the 2025 Mining Technology Excellence Awards honor Nuton for three awards, underscoring its role in transforming the industry through sustainable mining practices.
“We are honored by this recognition, a testament to a hard-working and dedicated Nuton team,” says Adam Burley, Nuton Chief Executive Officer. This distinction arrives as Nuton achieves First Copper production from its industrial-scale deployment at the Johnson Camp Mine in Arizona, validating its decades of research. “Nuton brings together the spark of people, the intelligence of nature, and the power of technology to open new pathways for copper production.”
Innovation Award for bioleaching technology
The Innovation Award recognizes Nuton for its groundbreaking bioleaching technology, which significantly enhances copper recovery rates. Mining Technology adds, “This combination of advanced science and applied engineering not only matches but often surpasses the performance of traditional concentrator and leach technologies, solidifying Nuton’s position as a leader in mining innovation.”
Business Expansion Award for partnership and workforce growth
The Business Expansion Award honors Nuton for strategic partnerships across the Americas that facilitate rapid growth and access to new resources. The award profile notes, “The company’s impressive growth trajectory is evidenced by a tenfold increase in its workforce, expanding from just four to over 50 experts across engineering, technology, sustainability, and commercial functions.”
Environmental Stewardship Award for reduced emissions and water usage
The Environmental Stewardship Award celebrates Nuton for its low-impact processing methods that drastically reduce emissions and improve water efficiency. The feature observes, “This innovation not only minimizes the ecological footprint of mining operations but also addresses regulatory challenges associated with land permits for tailings and long-term waste management.”
In summary, these three wins reinforce Nuton’s impact on sustainable copper mining innovation. Nuton’s technology extends mine life and maximizes resource use by extracting value from ores that would otherwise be classified as waste, increasing yield and revenue at both new and existing mines. Its environmental performance is expected to exceed that of conventional copper processing technologies, with up to 80% less water use and up to 60% lower carbon emissions than the traditional concentrator route.
The Mining Technology Excellence Awards honor the most significant achievements and innovations in the global mining industry. Powered by GlobalData’s business intelligence, the Awards recognize the people and companies driving positive change and shaping the industry’s future.
VANCOUVER, CANADA (November 24, 2025) – Aldebaran Resources Inc. (“Aldebaran” or the “Company”) (TSX-V: ALDE, OTCQX: ADBRF) is pleased to announce the filing on SEDAR+ of an updated Technical Report and Preliminary Economic Assessment (the “Altar PEA”) on the Altar copper-gold project located in San Juan Province, Argentina, prepared in accordance with National Instrument 43-101 – Standards of Disclosure in Mineral Projects. The Altar PEA has an effective date of September 1, 2025, and was created by SRK Consulting Inc. as lead consultants with Knight Piesold as a subcontractor. The report titled “Preliminary Economic Assessment, Altar Project, San Juan, Argentina” has been filed on the SEDAR+ website at www.sedarplus.ca and will be posted on the Company’s website at www.aldebaranresources.com.
Additionally, the Company announces that Nuton Holdings Ltd., a Rio Tinto venture (“Nuton”), has provided notice of termination of the option to joint venture agreement announced on November 7, 2024, under which Nuton had the right to acquire a 20% interest in the Altar project. Nuton’s decision comes as they are shifting priorities to focus on later-stage projects that could potentially deliver nearer-term production. Despite the termination, Nuton and Aldebaran could still enter a licensing agreement to deploy the Nuton® Technology, proprietary bio-leaching technology, at Altar.
John Black, Chief Executive Officer and Director of Aldebaran, commented: “The PEA demonstrated that the base case concentrator scenario for Altar is a long-life project delivering significant copper, gold, and silver production at attractive cash costs while minimizing upfront capital. With an NPV (8%) of US$2 billion and an IRR of 20.5%, we believe that Altar is an attractive large-scale copper gold project and a very important project for Argentina moving forward. We thank Nuton for their participation in the Altar project and understand that their shift in priorities made continuing with the Altar option agreement challenging. We retain an 80% interest in the project and look forward to advancing it towards a pre-feasibility study with our joint venture partner Sibanye-Stillwater.”
Qualified Person
The scientific and technical data contained in this news release has been reviewed and approved by Dr. Kevin B. Heather, B.Sc. (Hons), M.Sc, Ph.D, FAusIMM, FGS, Chief Geological Officer and director of Aldebaran, who serves as the qualified person (QP) under the definitions of National Instrument 43-101.
ON BEHALF OF THE ALDEBARAN BOARD
(signed) “John Black”
John Black
Chief Executive Officer and Director
Tel: +1 (604) 685-6800
Email: info@aldebaranresources.com
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For further information, please consult our website at www.aldebaranresources.com or contact:
Ben Cherrington
Manager, Investor Relations
Phone: +1 347 394-2728 or +44 7538 244 208
Email: ben.cherrington@aldebaranresources.com
About Aldebaran Resources Inc.
Aldebaran is a mineral exploration company that was spun out of Regulus Resources Inc. in 2018 and has the same core management team. Aldebaran holds an 80% interest in the Altar copper-gold project in San Juan Province, Argentina. The Altar project hosts multiple porphyry copper-gold deposits with potential for additional discoveries. Altar forms part of a cluster of world-class porphyry copper deposits which includes Los Pelambres (Antofagasta Minerals), El Pachón (Glencore), and Los Azules (McEwen Copper). In November 2024 the Company announced an updated mineral resource estimate for Altar, prepared by Independent Mining Consultants Inc. and based on the drilling completed up to and including the 2023-24 field season (independent technical report prepared by Independent Mining Consultants Inc., Tucson, Arizona, titled “Technical Report, Estimated Mineral Resources, Altar Project, San Juan Province, Argentina”, dated December 31, 2024 – see news release dated November 25, 2024).
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains “forward-looking information” or forward-looking statements” within the meaning of Canadian and United States securities legislation. All statements included herein, other than statements of historical fact, including, without limitation, statements relating to the Altar project as a profitable project for the Company, the scale, throughput, resources, projected production and projected profitability of the Altar project, completion of a pre-feasibility study, and projected economics, including NPV, IRR, and cash costs, are forward-looking. Generally, the forward-looking information and forward looking statements can be identified by the use of forward looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, “will continue” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. The material factors or assumptions used to develop forward looking information or statements are disclosed throughout this news release.
Forward looking information and forward-looking statements, while based on management’s best estimates and assumptions, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Aldebaran to be materially different from those expressed or implied by such forward-looking information or forward-looking statements. Although Aldebaran has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information or statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements. The Company has and continues to disclose in its Management’s Discussion and Analysis and other publicly filed documents, changes to material factors or assumptions underlying the forward-looking information and forward-looking statements and to the validity of the information, in the period the changes occur. The forward-looking statements and forward-looking information are made as of the date hereof and Aldebaran disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results. Accordingly, readers should not place undue reliance on forward-looking statements and information.
The mining world just recognized a radical shift in copper production. Nuton earned Mining Magazine‘s 2025 Technology & Innovation Award, validating its pioneering bioleaching process and its immediate, positive impact on the copper sector’s environmental profile.
The award acknowledges Nuton’s superior performance, rapid on-site deployment, and advanced bioleaching technology. The award judges declare, “In a world of falling grades, a process that can make copper sulphides economically attractive is a massive achievement.”
In celebration of the Mining Award for Technology & Innovation award, Nuton CEO Adam Burley sat down with Mining Magazine’s Dominic Hale to discuss the evolution of copper production. Watch the full conversation below.
The annual Mining Magazine Awards recognize outstanding achievements, projects and technologies. They cover various categories such as Mineral Processing, Drill & Blast, Bulk Handling and Net Zero Achievement, honoring companies and individuals for their innovation, efficiency and safety advancements.