Arizona Metals Corp. Announces Completion of Warrant Repricing
ARIZONA METALS CORP. ANNOUNCES COMPLETION OF WARRANT REPRICING
FOR IMMEDIATE RELEASE
TORONTO, ONTARIO – February 24, 2020 – Arizona Metals Corp. (TSXV: AMC) (the “ Company”
or “ AMC”), would like to announce that , further to its press release dated November 18, 2019, it has
completed the repricing of 6,117,999 of the Company’s outstanding warrants expiring on August 1, 2022
(each, a “ Warrant”) from an exercise price of $0.60 per Warrant to an exercise price of $0.50 per
Warrant (the “ Warrant Repricing”). The Warrant Reprici ng is effective as of February 24 , 2020. For
additional information about the Warrant Repricing , please see the Company’s press release dated
November 18, 2019.
About Arizona Metals Corp.
Arizona Metals Corp . owns 100% of the Kay Min e Property in Yavapai County, which is located on a
combination of patented and BLM claims totaling 1,300 acres that are not subject to any royalties. An
historic estimate by Exxon Minerals in 1982 reported a “proven and probable reserve of 6.4 million sho rt
tons at a grade of 2.2% copper, 2.8g/t gold, 3.03% zinc, and 55g/t silver”. The historic estimate at the Kay
Mine was reported by Exxon Minerals in 1982. The historic estimate has not been verified as a current
mineral resource. None of the key assumpti ons, 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 be compliant with current NI 43 -101 standards. A Qualified Person has not done
sufficient work to classify it as a current mineral resource, and AMC is not treating the historic estimate
as a current mineral resource.
The Kay Mi ne is a steeply dipping VMS deposit that has been defined from a depth of 150m to at least
900m. It is open for expansion on strike and at depth.
The Company also owns 100% of the Sugarloaf Peak Property, in La Paz County, which is located on
4,400 acres of BLM claims. Sugarloaf 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 0.5g/t (Dausinger, 1983, Westworld
Resources).
The historic estimate at the Sugarloaf Peak Property 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 be compliant with current NI 43 -101
standards. A Qualified Person has not done sufficient work to classify it as a current mineral resource, and
AMC is not treating the historic estimate as a current mineral resource.
For further information, please contact:
Marc Pais
Chief Executive Officer
Arizona Metals Corp.
(416) 565-7689
www.arizonametalscorp.com
2
Disclaimer
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 “wi ll” be taken to occur or be achieved) are not
statements of historical fact and may be forward -looking statements. 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 m ay 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 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 forwar d-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.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this release.