Arizona Metals Announces Initial Drill Results from Sugarloaf Peak Drilling
Arizona Metals Announces Initial Drill Results from Sugarloaf Peak Drilling
Toronto, December 2, 2025 – Arizona Metals Corp. (TSX:AMC, OTCQX:AZMCF) (the
“Company” or “Arizona Metals”) is pleased to announce the first round of results from its 2025
reverse-circulation drill program on the Sugarloaf Peak project in Arizona. Highlights of the
drilling include:
• SP-25-09: 195.1 m @ 0.31 g/t Au, including 25.9 m @ 0.61 g/t Au. This was an infill hole
in the center of the deposit, demonstrating excellent continuity and mineralization from
surface.
• SP-25-11: 109.7 m @ 0.31 g/t Au, including 16.8 m @ 0.49 g/t Au. This was an infill hole
in a 300 x 300 m gap in the north -central part of the deposit; together with holes 12 and 13,
this confirms good continuity of mineralization in this area, adding significant volume to the
deposit.
• SP-25-05: 134.1 m @ 0.29 g/t Au and 70.1 m @ 0.32 g/t Au. This was a twin of historic hole
WW-9 in the central portion of the deposit.
• SP-25-12: 73.2 m @ 0.27 g/t Au and 41.1 m @ 0.30 g/t Au. This was an infill hole in a 300
x 300 m gap in the north-central part of the deposit.
Mineralization was intersected in all nine drill holes assayed to date in an area covering 900 m
along the strike of mineralization and 800 m in width. These initial drill results are consistent with
the drill program goals, as these results demonstrate mineralization in all infill hole s and extend
mineralization in all step-out holes received to date. In several drill holes, mineralization was also
extended at a depth below previous drilling by 40-75 m. Assay results from the remaining 16 drill
holes are pending. The total drilling to date on the project, in 2025, comprises 5,186 m drilled in
25 reverse-circulation drill holes.
Duncan Middlemiss, President and CEO of Arizona Metals commented: “We are pleased to
confirm the expansion potential at Sugarloaf Peak. This is a very large mineralized system that
our drilling has expanded, not only laterally but within the deposit. In particular, our drilling
confirmed excellent continuity of mineralization, a real benefit in a bulk-mining open-pit scenario.
We intend to continue to explore Sugarloaf Peak and test its size within the deposit, at depth, and
along strike.”
Additional drill results are as follows:
• SP-25-06: 21.3 m @ 0.20 g/t Au and 10.7 m @ 0.37 g/t Au. This hole extends
mineralization 95 m southwest of previous drilling, increasing the width of mineralization.
• SP-25-07: 35.1 m @ 0.32 g/t Au. Infill hole in a 260-m gap along the southwestern edge of
the deposit, confirming good continuity of mineralization in this area.
• SP-25-08: 15.2 m @ 0.22 g/t Au. Stepout hole 110 m southwest of hole 7. Together with
hole 7, this extends mineralization almost 200 m southwest in this portion of the deposit.
• SP-25-10: 9.1 m @ 0.25 g/t Au. Stepout hole to the 135 m to the west of previous drilling,
warranting follow-up drilling in this area.
• SP-25-13: Four intervals, including 35.1 m @ 0.40 g/t Au and 30.5 m @ 0.27 g/t Au. Infill
hole in a 300 x 300 m gap in the north-central part of the deposit. This hole returned the highest
individual assay in this round of drilling so far, 6.64 g/t Au (56.4-57.9 m).
Table 1. Results of drill program at the Sugarloaf Peak Project, Yavapai County, Arizona announced in this news
release, including the depth of oxidized mineralization encountered in each hole.
Figure 1. Oblique view of drilling at Sugarloaf Peak looking north,
highlighting the drill results announced in this press release.
About the Sugarloaf Peak Project
The Sugarloaf Peak Project is located in La Paz County, Arizona, on 4,400 acres of BLM claims.
The Sugarloaf Peak Project is a heap-leach, open-pit target and has a historic estimate of
“100 million tons containing 1.5 million ounces gold” at a grade of 0.5 g/t (Dausinger, N.E., 1983,
Phase 1 Drill Program and Evaluation of Gold-Silver Potential, Sugarloaf Peak Project, Quartzsite,
Arizona: Report for Westworld Inc.) The histo ric estimate at the Sugarloaf Peak Project was
reported by Westworld Resources in 1983. The historic estimate has not been verified as a current
mineral resource. None of the key assumptions, parameters, and methods used to prepare the
historic estimate were reported, and no resource categories were used. Significant data
compilation, re-drilling and data verification may be required by a Qualified Person before the
historic estimate can be verified and upgraded to a current mineral resource. A Qualified P erson
has not done sufficient work to classify it as a current mineral resource, and Arizona Metals is not
treating the historic estimate as a current mineral resource.
Metallurgical test work on the project by Arizona Metals indicates favorable gold recoveries in
both oxide and sulfide mineralization, as previously announced (June 1, 2021 and September 14,
2023). Cyanide bottle -roll tests on oxide material achieved gold recoveries averaging 76% with
recoveries as high as 95%; column leach testing achieved gold recoveries of up to 90%.
As a result of these initial results, the Company engaged SRK Consulting (Canada) Inc. to oversee
metallurgical test work to develop low -cost flow sheets to recover gold from the sulphide zone.
This test work on sulfide mineralization indicated gold recove ries of up to 85%. Mineralogy and
diagnostic leach tests on the samples indicate the majority of gold is present as free gold within
sulfides, primarily pyrite. As the samples tested demonstrated relatively soft material, it is likely
that whole-ore leach would be the preferred processing method for sulfide material.
About Arizona Metals Corp
Arizona Metals Corp owns 100% of the Sugarloaf Peak Project and 100% of the Kay Mine Project
in Yavapai County, which is located on 1669 acres of patented and BLM mining claims and 193
acres of private land that are not subject to any royalties. The Kay Mine Project is a steeply dipping
VMS deposit that has been defined from a depth of 60 m to at least 900 m. It is open for expansion
on strike and at depth.
The Kay Mine Project contains a current mineral resource estimate (MRE) of 9.28 million tonnes
grading 1.39 g/t Au, 27.6 g/t Ag, 0.97% Cu, 0.33% Pb, and 2.39% Zn in the Indicated category,
and 0.86 million tonnes grading 1.06 g/t Au, 15.4 g/t Ag, 0.87% Cu, 0.20% Pb, and 1.68% Zn in
the Inferred category, at a base-case cut-off grade of 1.00 % CuEq. Copper equivalent MRE grades
are 9.28 million tonnes @ 3.18% CuEq in the Indicated category and 0.86 million tonnes @ 2.44%
CuEq in the Inferred category.
See above for information regarding the Sugarloaf Peak Project.
Qualified Person and Quality Assurance/Quality Control
All of Arizona Metals’ drill sample assay results have been independently monitored through a
quality assurance/quality control (“QA/QC”) protocol which includes the insertion of blind
standard reference materials and blanks at regular intervals. Logging w as completed at Arizona
Metals’ facilities located in Blythe, California, and Phoenix, Arizona. Reverse -circulation drill
samples were collected onsite and securely transported to ALS Laboratories’ (“ALS”) sample
preparation facility in Tucson, Arizona. Sa mple pulps were sent to ALS’s labs in Vancouver,
Canada, and Reno, Nevada, for analysis.
Gold content was determined by fire assay of a 30- gram charge with ICP finish (ALS method
Au-AA23). Silver and 47 other elements were analyzed by ICP methods with four -acid digestion
(ALS method ME-MS61L).
ALS Laboratories is independent of Arizona Metals Corp. and its Vancouver and Reno facilities
are ISO 17025 accredited. ALS also performed its own internal QA/QC procedures to assure the
accuracy and integrity of results. Parameters for ALS’ internal and Arizona Metals’ external blind
quality control samples were acceptable for the samples analyzed. Arizona Metals is not aware of
any drilling, sampling, recovery, or other factors that could materially affect the accuracy or
reliability of the data referred to herein.
The qualified person who reviewed and approved the technical disclosure in this release is David
Smith, CPG, a qualified person as defined in National Instrument43-101 – Standards of Disclosure
for Mineral Projects. Mr. Smith supervised the preparation of the scientific and technical
information that forms the basis for this news release and has reviewed and approved the disclosure
herein. Mr. Smith is the Vice -President, Exploration of the Company. Mr. Smith super vised the
drill program and verified the data disclosed, including sampling, analytical and QA/QC data,
underlying the technical information in this news release, including reviewing the reports of ALS,
methodologies, results, and all procedures undertaken for quality assurance and quality control in
a manner consistent with industry practice, and all matters were consistent and accurate according
to his professional judgement. There were no limitations on the verification process.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-looking information” (collectively,
“forward-looking statements”) within the meaning of the applicable Canadian securities
legislation. All statements, other than statements of historical fact, are forward-looking statements
and are based on expectations, estimates and projections as at the date of this news release. Any
statement that discusses predictions, expectations, beliefs, plans, projections, objectives,
assumptions, future events or performance (often but not always using phrases such as “expects”,
or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”,
“scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and
phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or
“will” be taken to occur or be achieved) are not statements of historical fact and may be forward-
looking statements. Forward-looking statements contained in this press release include, without
limitation, statements regarding drill results and future drilling of the Sugarloaf Peak Project;
statements regarding the continuity of mineralization and the expansion potential of the Sugarloaf
Peak Project; statements regarding the expansion potential of the Kay Project, statements
regarding drill results and future drilling of expansion drilling targets on the Kay Project,
statements regarding execution of the Company’s plans for 2025 and the achievement of targeted
milestones. In making the forward- looking statements contained in this press release, the
Company has made certain assumptions. Although the Company believes that the expectations
reflected in forward -looking statements are reasonable, it can give no assurance that the
expectations of any forward- looking statements will prove to be correct. Known and unknown
risks, uncertainties, and other factors which may cause the actual results and future events to differ
materially from those expressed or implied by such forward-looking statements. Such factors
include, but are not limited to: availability of the Company to stay well funded; delay or failure to
receive required permits or regulatory approvals; and general business, economic, competitive,
political and social uncertainties. Accordingly, readers should not place undue reliance on the
forward-looking statements and information contained in this press release. Except as required by
law, the Company disclaims any intention and assumes no obligation to update or revise any
forward-looking statements to reflect actual results, whether as a result of new information, future
events, changes in assumptions, changes in factors affecting such forward- looking statements or
otherwise.
Cautionary Note regarding Mineral Resource Estimates
Until mineral deposits are actually mined and processed, Mineral Resources must be considered
as estimates only. Mineral Resource Estimates that are not Mineral Reserves have not
demonstrated economic viability. The estimation of Mineral Resources is inher ently 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 relevant risks, uncertainties, contingencies and other factors described in the Company's
public disclosure available on SEDAR+ at www.sedarplus.ca . The Inferred Mineral Resource in
this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource
and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the
Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued
exploration. The accuracy of any Mineral Resource Estimates 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.
Mineral Resource Estimates may have to be re- estimated based on, among other things: (i)
fluctuations in mineral prices; (ii) results of drilling, and development; (iii) results of future test
mining and other testing; (iv) metallurgical testing and other studies; (v) results of geological and
structural modeling including block model design; (vi) proposed mining operations, including
dilution; (vii) the evaluation of future mine plans subsequent to the date of any estimates; and (viii)
the possible failure to receive required permits, licenses and other approvals. It cannot be assumed
that all or any part of a "Inferred" or "Indicated" Mineral Resource Estimate will ever be upgraded
to a higher category. The Mineral Resource Estimates disclosed in this news release were reported
using 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- Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators
("NI 43-101").
Cautionary Statements to U.S. Readers
This news release uses the terms "Mineral Resource", "Indicated Mineral Resource" and "Inferred
Mineral Resource" as defined in the CIM Standards in accordance with NI 43- 101. While these
terms are recognized and required by the Canadian Securities Administrators in accordance with
Canadian securities laws, they may not be recognized by the United States Securities and
Exchange Commission. The "Mineral Resource" Estimates and related information in this news
release may not be comparable to similar informat ion made public by U.S. companies subject to
the reporting and disclosure requirements under the United States federal securities laws and the
rules and regulations THE TORONTO STOCK EXCHANGE HAS NEITHER REVIEWED NOR
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Not for distribution to US newswire services or for release, publication, distribution or dissemination
directly, or indirectly, in whole or in part, in or into the United States
For further information, please contact:
Morgan Knowles
Vice President of Investor Relations
(647) 202-3904
or
Duncan Middlemiss
President and CEO
www.arizonametalscorp.com
https://x.com/ArizonaCorp