AMC.TO · 2021-05-19 12:00:00

Arizona Metals Corp Announces Discovery of New Gold-Zinc Zone at the Kay Mine: Hole 25 intersects 79 m of 7.0 g/t AuEq (incl. 9 m of 18.1 g/t AuEq and 11 m of 14.7 g/t AuEq) Hole 24 intersects 91 m of 4.7 g/t AuEq (incl. 20 m of 9.2 g/t AuEq and 16 m of 6.8 g/t

Drill Results

Arizona Metals Corp Announces Discovery of New Gold-Zinc Zone at the

Kay Mine: Hole 25 intersects 79 m of 7.0 g/t AuEq (incl. 9 m of 18.1 g/t AuEq

and 11 m of 14.7 g/t AuEq)

Hole 24 intersects 91 m of 4.7 g/t AuEq (incl. 20 m of 9.2 g/t AuEq and 16 m of 6.8 g/t

AuEq)

TORONTO--(BUSINESS WIRE)--May 19, 2021--Arizona Metals Corp. (TSX.V:AMC,

OTCQX:AZMCF) (the “Company” or “Arizona Metals”) is pleased to announce the discovery

of a new gold-rich zone of open-ended mineralization at the Kay Mine, in an area previously

untested by historic drilling or exploration. In addition, all seven recently completed holes at the

Kay Mine project in Yavapai County, Arizona, intersected massive sulphide mineralization.

Hole 25 intersected 79 m of 7.0 g/t AuEq, including two separate higher-grade intervals of 9 m

grading 18.1 g/t AuEq and 11 m grading 14.7 g/t AuEq, from a vertical depth of 638 m.

Hole 24 intersected 91 m of 4.7 g/t AuEq, including two separate higher-grade intervals of 20 m

grading 9.2 g/t AuEq and 16 m grading 6.8 g/t AuEq, from a vertical depth of 470 m. This hole

also intersected a high-grade interval of 0.8 m grading 33.4 g/t AuEq (Figure 3).

The bulk of the mineralized intervals in holes 25 and 24 are located between the North and South

Zones (Figure 1), outside of the area defined in the historic estimate by Exxon. Historical records

show very little exploration in this area by Exxon, or other previous operators. Hole 24 was

drilled 104 m deeper than hole 21A which also intersected a broad zone of 65 metres of semi- to

massive sulphides (assays pending), and hole 25 is 276 m deeper than 21A. These newly defined,

wide, high-grade intervals demonstrate the potential to add a significant tonnage of gold-zinc

mineralization outside of the historic resource, which is predominantly copper-gold in

composition.

In addition to the new discovery of the gold-zinc zone in holes 24, 25 holes 17, 18, 18A, 21 and

23 returned wide intervals of copper and gold in the South Zone area, extending the plunge of the

hinge zone defined by Phase 1 drilling. Some highlights include:

• Hole 18A, which intersected 32.5 m of 3.5 g/t AuEq

• Hole 21, which intersected 42.8 m of 3.2 g/t Au Eq, including 4.8 m grading 6.7 g/t AuEq

• Hole KM-21-17, which intersected 20 m of 3.0% CuEq (incl. 4.6 m of 6.4% CuEq). This

hole is located 41 m above hole KM-20-13 drilled in 2020, which intersected 43 m

grading 3.9% CuEq, including 15 m at a grade of 6.7% CuEq.

Marc Pais, CEO, commented “It is very common in VMS districts for deposits to show distinct

zonation of copper-rich mineralization, alternating with gold-zinc mineralization. The historical

record of the Kay Mine shows an almost exclusive focus by previous operators on the copper-

rich mineralization, with exploration focused on depths above 450 m.

The new broad intervals of high-grade gold-zinc mineralization reported today, of 79 m in hole

25 and 91 m in hole 24, define 276 m of vertical plunge below hole 21A (for which assays are

pending), in an area between the North and South Zones that make up the historic resource. This

area was not historically explored and is open for expansion at depths below 450 m.

These discovery holes demonstrate the potential to define a significant tonnage of gold-rich zinc

VMS mineralization, outside of the historic resource defined by Exxon in 1982. Drilling at Kay

continues to confirm that the deposit was historically underexplored, despite being part of a rich

mineralized system. Based on copper prices of under US$1.00/lb during the 1970s and 1980s,

Exxon’s exploration work employed a cut-off grade of 2.5% CuEq.

We believe that as a result, historic exploration overlooked large areas of mineralization in the

immediate vicinity of both the Kay historic estimate and surroundings. This will become even

more important as we move the drills north and south on strike, to recently completed pads. On

completion of the strike testing, the drills will move west to the Central and Western targets, to

test for new satellite deposits in previously undrilled areas.”

Additional results include hole KM-21-18, which intersected 25.5 m of 2.7 g/t AuEq, from a

depth of 255 m.

In the North Zone, hole KM-21-19 intersected an interval of 0.5 m at a grade of 17 g/t AuEq,

from a vertical depth of 337 m. Hole KM-21-20 intersected 0.9 m of 7.1 g/t AuEq and 2.1 m of

3.1 g/t AuEq, from a vertical depth of 362 m. Drilling is currently underway to target an area

laterally between holes 19 and 20, which the Company believes has the potential to host a North

Zone hinge, similar to the thick hinge encountered in recent South Zone drilling.

Holes KM-21-21A, KM-21-25A, KM-21-25B, KM-21-26, and KM-21-27 have been completed

and submitted to ALS Laboratories of Tucson, Arizona for assaying. These holes were drilled to

test for the down-plunge and lateral extensions of the broad intervals of gold-zinc mineralization

encountered in the holes announced today.

Kay Mine Permitting Update and Addition of Third Drill Rig

Permitting and bonding for Kay Mine strike extension pads 4, 5, 6 were completed in March

2021, and pad construction was recently completed. Permitting for pad and road construction to

test the Central and Western Targets was subject to Covid-19 related delays, but is now

progressing well again, with drilling expected at these targets later this year. A third drill rig is

scheduled to arrive at site later this month, and will start drilling at pad 4, located 500m north of

the Kay Mine.

Covid-19 Monitoring and Mitigation Procedures

The Company’s drill contractor, Boart Longyear, has instituted Covid-19 monitoring procedures

for all drill crew members, including daily temperature and symptom checks. Arizona Metals

Corp will be provided with daily health tracking updates for the drill crews and has also

instituted its own social distancing policies and provided a guidance manual for employees at

site.

Webinar on Thursday, May 27th, 2021 at 11am ET: Please join Company management to

discuss today’s results. Register here:

https://us02web.zoom.us/webinar/register/WN_2OnNWvi8Rjadug-QuHkV0Q

Table 1. Results of Phase 2 Drill Program at Kay Mine, Yavapai County, Arizona

Hole ID

From

Length

Cu eq

Au eq

g/t

eq%

g/t

Vertical

Depth

Below

Surface m

KM-21-17 429.5 449.9 20.4 2.99 5.27 10.34 1.10 21.2 1.81 0.17 1.20 300

including 429.5 434.0 4.6 6.44 11.34 22.26 1.73 29.1 4.61 0.24 1.91

including 432.7 434.0 1.4 7.35 12.94 25.39 6.81 40.0 0.52 1.10 8.29

KM-21-17 504.4 505.4 0.9 3.96 6.98 13.70 4.73 9.0 1.19 0.00 0.05 356

KM-21-18 404.3 429.8 25.5 1.51 2.66 5.23 0.86 15.8 0.35 0.23 1.71 255

including 408.6 410.6 2.0 4.57 8.05 15.80 2.22 64.4 0.50 0.82 7.25

including 424.9 427.3 2.4 4.25 7.49 14.70 2.59 18.0 1.60 0.52 3.16

KM-21-

18A

391.4

423.8

32.5

1.99

3.50

6.86

0.62

17.6

1.09

0.15

1.25

233

including 393.3 395.8 2.4 12.37 21.79 42.75 2.83 40.9 9.57 0.28 2.72

KM-21-19 377.8 378.3 0.5 9.75 17.16 33.68 5.59 128.0 3.39 0.63 6.83 337

KM-21-20 442.7 443.6 0.9 4.05 7.14 14.01 0.52 18.5 2.56 0.14 3.52 362

KM-21-20 456.0 458.1 2.1 1.79 3.15 6.17 0.35 6.0 1.49 0.04 0.14 370

KM-21-21 452.6 495.5 42.8 1.84 3.23 6.35 0.78 15.1 0.80 0.15 1.52 362

including 488.7 493.5 4.8 3.80 6.69 13.13 2.50 27.6 0.26 0.54 6.13

KM-21-

21A

422.0

431.4

9.4

2.29

4.04

7.92

0.57

8.6

1.17

0.36

2.25

362

KM-21-

21A

439.1

502.1

63.0

2.75

4.85

9.52

1.30

58.8

0.45

0.77

3.14

366

including 465.0 481.9 16.9 3.99 7.02 13.78 2.47 80.9 0.52 0.99 4.05

KM-21-23 394.4 401.4 7.0 1.82 3.20 6.29 0.93 13.5 0.36 1.17 1.94 313

KM-21-23 438.6 459.2 20.6 1.73 3.04 5.96 1.20 27.8 0.17 0.37 1.93 336

KM-21-24 501.2 592.1 90.8 2.65 4.67 9.17 1.33 44.3 0.45 0.41 3.42 470

including 501.2 521.7 20.4 5.23 9.21 18.07 1.70 113.1 1.34 0.66 6.35

including 520.9 521.7 0.8 18.95 33.37 65.47 16.50 574.0 1.75 1.22 9.55

including 575.9 592.1 16.2 3.85 6.78 13.31 2.50 44.4 0.16 0.79 6.00

including 588.7 590.4 1.7 13.17 23.20 45.52 9.98 18.2 0.47 0.13 23.70

KM-21-25 662.6 741.3 78.6 3.98 7.01 13.76 2.33 43.4 1.41 0.35 2.79 638

including 663.2 672.7 9.4 10.29 18.12 35.55 1.84 92.3 8.06 0.15 1.31

including 693.0 703.9 11.0 8.34 14.68 28.81 6.28 99.7 0.68 1.17 10.40

(1) True widths of the reported mineral intervals have not been determined; additional drilling is

required.

(2) Assumptions used in USD for the copper equivalent calculation were metal prices of $4.70/lb

Copper, $1830/oz Gold, $27/oz Silver, $1.36/lb Zinc, $1.00/lb Pb and recovery is assumed to be

100% as no metallurgical test data is available. The following equation was used to calculate

copper equivalence: CuEq = Copper (%) + (Gold (g/t) x 0.57) + (Silver (g/t) x 0.0084) + (Zinc

(%) x 0.2894) +(Lead (%) x 0.2128).

Table 2. Results of Phase 1 Drill Program at Kay Mine, Yavapai County, Arizona

Hole ID

From

Length

Cu eq

Au eq

g/t

eq%

g/t

Vertical

Depth

Below

Surface m

KM-20-01 275.8 281.5 5.6 1.70 1.61

0.48 11.6 0.57 0.18 1.20 156

including 275.8 276.5 0.6 4.23 4.01 1.22 32.0 0.50 0.73 5.04

including 279.8 281.5 1.6 3.10 2.94 0.98 22.6 1.21 0.23 1.49

KM-20-02 297.8 300.8 3.0 1.01 0.96 0.20 1.4 0.77 0.01 0.04 172

KM-20-03 256.3 259.1 2.7 5.41 5.13 1.01 69.6 3.40 0.09 0.65 120

including 256.3 257.3 0.9 10.32 9.78 1.79 56.0 7.42 0.17 1.11

KM-20-03 292.2 292.6 0.5 2.72 2.57 0.19 2.0 2.43 0.04 0.15 152

KM-20-03 295.4 295.8 0.5 2.61 2.47 0.80 6.0 1.35 0.06 0.91 154

KM-20-

03A

252.4

256.9

4.6

6.85

6.49

2.55

35.6

3.70

0.03

0.27

122

including 252.4 253.1 0.8 18.19 17.24 6.34 164.0 9.74 0.11 0.40

KM-20-05 266.6 269.0 2.4 9.19 8.71 1.94 43.3 6.47 0.14 0.57 150

including 266.6 267.8 1.2 13.89 13.16 2.21 50.0 10.60 0.26 1.05

KM-20-06 267.9 281.5 13.5 2.92 2.77 0.85 45.6 1.02 0.30 1.23 158

including 267.9 268.4 0.5 6.73 6.38 2.20 31.0 1.54 0.81 6.10

including 276.6 281.5 4.9 4.54 4.30 0.87 92.1 1.86 0.42 1.96

including 280.0 281.0 1.1 7.82 7.41 1.03 340.0 3.22 0.04 0.64

KM-20-09 588.1 588.4 0.3 3.72 3.52 1.74 15.0 0.91 0.40 1.86

KM-20-09 613.4 614.1 0.7 3.32 3.15 1.81 10.0 0.90 0.08 1.04

KM-20-09 614.6 614.9 0.3 3.60 3.41 0.36 19.0 2.64 0.10 0.98

KM-20-09 632.8 638.9 6.1 8.23 7.80 4.18 41.7 0.12 0.82 8.02 575

including 633.6 637.9 4.4 9.81 9.29 5.46 33.1 0.15 0.50 9.06

including 636.9 637.9 1.1 16.92 16.03 9.77 68.0 0.17 0.78 14.65

KM-20-10 563.6 568.5 4.9 6.24 5.92 2.16 24.9 2.39 0.31 3.27 490

including 563.6 566.6 3.0 7.78 7.38 2.42 28.2 3.66 0.32 3.16

including 567.2 568.5 1.2 5.33 5.05 2.52 28.4 0.33 0.43 5.10

KM-20-10 574.2 574.9 0.6 10.09 9.56 4.33 113.0 0.12 0.16 11.30 498

KM-20-10 577.7 579.3 1.6 3.09 2.93 0.70 45.9 0.03 0.68 4.38 500

KM-20-10 582.3 583.1 0.8 2.42 2.29 0.42 51.0 0.03 1.07 2.90 502

KM-20-

10A

521.2

522.5

1.3

7.07

6.70

1.27

51.1

2.13

0.91

7.46

437

KM-20-

10A

527.9

538.6

10.7

4.40

4.17

1.66

27.2

1.32

0.30

2.58

442

including 527.9 529.4 1.5 8.59 8.14 0.92 30.2 6.69 0.07 1.62

including 532.2 535.3 3.1 4.17 3.95 1.75 34.3 0.72 0.42 2.99

including 537.2 538.6 1.4 12.24 11.60 7.29 79.2 0.16 0.60 9.06

KM-20-

10B

503.0

530.7

27.6

2.87

2.72

0.97

21.3

0.87

0.32

1.76

423

including 503.0 509.6 6.6 4.79 4.54 1.55 29.8 1.78 0.37 2.55

including 513.9 518.3 4.4 5.29 5.01 1.89 47.4 1.08 0.68 4.05

including 527.2 530.7 3.5 6.68 6.33 2.32 52.9 1.91 0.99 3.93

KM-20-

10C

523.9

530.7

6.8

7.65

7.25

3.32

102.0

0.58

1.15

5.84

422

including 523.9 528.2 4.3 10.60 10.05 4.89 125.2 0.88 1.45 7.61

including 525.6 526.4 0.8 29.15 27.62 16.65 214.0 0.52 2.76 21.40

KM-20-11 554.1 556.9 2.7 9.23 8.75 2.83 70.0 4.14 0.28 3.56 490

KM-20-12 371.9 376.7 4.9 4.76 4.51 0.37 12.4 3.99 0.07 0.62 318

including 371.9 373.7 1.9 10.10 9.57 0.67 28.0 8.49 0.16 1.53

KM-20-12 379.5 405.4 25.9 0.87 0.82 0.08 2.3 0.73 0.01 0.08 326

KM-20-13 443.6 486.8 43.1 3.94 3.73 1.26 23.3 1.68 0.24 1.67 341

including 444.4 459.6 15.2 6.71 6.36 1.80 38.5 3.42 0.39 2.36

including 444.4 447.1 2.7 10.14 9.61 3.74 55.0 1.02 1.88 10.64

including 451.4 455.8 4.4 10.34 9.80 1.18 65.3 8.41 0.02 0.16

KM-20-14 421.7 461.6 39.9 3.40 3.22 1.00 18.4 1.47 0.19 1.67 314

including 426.3 429.8 3.5 11.58 10.98 1.28 30.0 9.56 0.07 0.95

including 457.2 460.7 3.5 6.61 6.26 2.58 26.3 0.36 0.38 8.33

KM-20-

14A

404.6

409.0

4.4

5.07

4.80

1.48

79.2

1.67

0.41

2.50

303

including 404.6 406.4 1.7 10.41 9.87 2.46 173.6 4.08 0.53 5.02

KM-20-

14A

421.0

443.5

22.5

2.41

2.28

0.72

15.9

0.86

0.18

1.51

312

including 421.0 421.8 0.8 14.01 13.28 2.91 45.0 9.81 0.19 1.69

including 421.0 425.0 4.1 5.17 4.90 1.14 21.4 3.23 0.14 1.30

KM-20-15 506.8 510.1 3.3 4.24 4.02 11.25 0.33 192.0 0.05 1.75 3.73 402

KM-20-16 480.4 518.8 38.4 2.87 2.72 0.81 24.3 0.85 0.25 2.24 385

including 480.4 492.9 12.5 5.95 5.64 1.98 48.5 1.63 0.50 4.23

including 480.4 483.4 3.0 11.29 10.70 4.74 77.9 2.40 0.91 7.49

including 489.8 492.9 3.0 10.22 9.68 2.59 100.7 3.61 0.92 6.90

(1) True widths of the reported mineral intervals have not been determined; additional drilling is

required

(2) Assumptions used in USD for the gold equivalent calculations were metal prices of $2.28/lb

Copper, $1650/oz Gold, $15/oz Silver, $0.86/lb Zinc, $0.77/lb Pb and recovery is assumed to be

100% as no metallurgical test data is available. The following equation was used to calculate

gold equivalence: AuEq = Gold (g/t) + (Copper (%) x 94.72) + (Silver (g/t) x 0.009) + (Zinc (%)

x 35.73) +(Lead (%) x 31.99).

(3) Assumptions used in USD for the copper equivalent calculations were metal prices of

$2.28/lb Copper, $1650/oz Gold, $16/oz Silver, $0.86/lb Zinc, $0.77/lb Pb and recovery is

assumed to be 100% as no metallurgical test data is available. The following equation was used

to calculate copper equivalence fo: CuEq = Copper (%) + (Gold (g/t) x 1.06) + (Silver (g/t) x

0.0096) + (Zinc (%) x 0.3772) +(Lead (%) x 0.3377).

Table 3. Locations of Phase 1 and 2 Program drill holes completed and in progress at Kay Mine,

Arizona

Hole ID Phase Drill Pad Zone Collar East

WGS84 Collar

North

WGS84

Collar

Elev m Collar

Az Collar

Dip

KM-20-01 1 Pad 1 North 392684 3769388 643 78 -48

KM-20-02 1 Pad 1 North 392684 3769388 643 75 -50

KM-20-03 1 Pad 1 North 392684 3769388 643 72 -43.3

KM-20-03A 1 Pad 1 North 392684 3769388 643 72 -43.3

KM-20-04 1 Pad 1 North 392684 3769388 643 65.1 -47.5

KM-20-05 1 Pad 1 North 392684 3769388 643 73.3 -47.2

KM-20-06 1 Pad 1 North 392684 3769388 643 81.3 -48.3

KM-20-07 1 Pad 1 North 392684 3769388 643 85.6 -47.6

KM-20-08 1 Pad 2 South 392638 3769266 653 91.1 -77.1

KM-20-09 1 Pad 2 South 392638 3769266 653 92.1 -77

KM-20-10 1 Pad 2 South 392638 3769266 653 96.3 -72.2

KM-20-10A 1 Pad 2 South 392638 3769266 653 96.3 -72.2

KM-20-10B 1 Pad 2 South 392638 3769266 653 96.3 -72.2

KM-20-10C 1 Pad 2 South 392638 3769266 653 96.3 -72.2

KM-20-11 1 Pad 3 North 392552 3769328 638 57.3 -67.5

KM-20-12 1 Pad 1 North 392684 3769388 643 95.7 -70.8

KM-20-13 1 Pad 1 South 392684 3769388 643 124 -66.5

KM-20-14 1 Pad 1 South 392684 3769388 643 133.6 -66

KM-20-14A 1 Pad 1 South 392684 3769388 643 133.6 -66

KM-20-15 1 Pad 2 South 392638 3769266 653 106.7 -66.8

KM-20-16 1 Pad 2 South 392638 3769266 653 91.5 -68.9

KM-21-17 1 Pad 2 South 392638 3769266 653 90.5 -59.5

KM-21-18 2 Pad 2 South 392638 3769266 653 89.8 -55

KM-21-18A 2 Pad 2 South 392638 3769266 653 89.8 -55

KM-21-19 2 Pad 1 North 392684 3769388 643 59.3 -69.5

KM-21-20 2 Pad 2 North 392638 3769266 653 53.7 -67.3

KM-21-21 2 Pad 1 South 392684 3769388 643 126 -70

KM-21-21A 2 Pad 1 South 392684 3769388 643 126 -70

KM-21-22 2 Pad 3 North 392552 3769328 638 33 -63

KM-21-22A 2 Pad 3 North 392552 3769328 638 33 -63

KM-21-23 2 Pad 1 South 392684 3769388 643 114.2 -66.3

KM-21-24 2 Pad 1 South 392684 3769388 643 119 -75.1

KM-21-25 2 Pad 3 South 392552 3769328 638 80 -77.4

KM-21-25A 2 Pad 3 South 392552 3769328 638 80 -77.4

KM-21-25B 2 Pad 3 South 392552 3769328 638 80 -77.4

KM-21-25C 2 Pad 3 South 392552 3769328 638 80 -77.4

KM-21-26 2 Pad 1 South 392684 3769388 643 118.2 -79.3

KM-21-27 2 Pad 1 South 392684 3769388 643 90.4 -86.7

KM-21-27A 2 Pad 1 South 392684 3769388 643 90.4 -86.7

About Arizona Metals Corp

Arizona Metals Corp owns 100% of the Kay Mine 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 short tons at a grade of 2.2% copper, 2.8 g/t gold, 3.03% zinc, and 55 g/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

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” (as defined in National Instrument 43-101 – Standards

of Disclosure for Mineral Projects) before the historic estimate can be verified and upgraded to

be a current mineral resource. A qualified person 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.

The Kay Mine 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 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 0.5 g/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 a current mineral resource. A qualified person 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.

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 and sampling were

completed at Arizona Metals’ core handling facilities located in Anthem and Black Canyon City,

Arizona. Drill core was diamond sawn on site and half drill-core samples were securely

transported to ALS Laboratories’ (“ALS”) sample preparation facility in Tucson, Arizona.

Sample pulps were sent to ALS’s labs in Vancouver, Canada, for analysis.

Gold content was determined by fire assay of a 30-gram charge with ICP finish (ALS method

Au-AA23). Silver and 32 other elements were analyzed by ICP methods with four-acid digestion

(ALS method ME-ICP61a). Over-limit samples for Au, Ag, Cu, and Zn were determined by ore-

grade analyses Au-GRA21, Ag-OG62, Cu-OG62, and Zn-OG62, respectively.

ALS Laboratories is independent of Arizona Metals Corp. and its Vancouver facility is 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

supervised 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.

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 “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 and assays, the resumption of drilling and the effects of the COVID-19 pandemic on the

business and operations of the Company. 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 financing; delay or failure

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