Arizona Metals Intersects 25.6 m at 2.1 g/t AuEq (incl. 1.5 m at 9.0 g/t AuEq), 21.5 m at 1.8 g/t AuEq (incl. 4.1 m at 5.2g/t AuEq), and 0.5 m at 37 g/t AuEq in Kay Shallow Drilling

Arizona Metals Intersects 25.6 m at 2.1 g/t AuEq (incl. 1.5 m at 9.0 g/t AuEq), 21.5 m at 1.8

g/t AuEq (incl. 4.1 m at 5.2g/t AuEq), and 0.5 m at 37 g/t AuEq in Kay Shallow Drilling

Toronto, March 6th, 2024 – Arizona Metals Corp. (TSX:AMC , OTCQ X:AZMCF) (the

“Company” or “Arizona Metals”) is pleased to announce the latest drill results from the Kay Mine

Project (“Kay” or the “Property”) in Arizona. Six new drill holes at the Kay Mine Deposit (the

“Kay Deposit”) continue to demonstrate the continuity and expansion potential of the deposit,

particularly in extending mineralization toward surface and to the south through shallow drilling.

Highlights of the recent drilling include:

• Hole KM-23-127 intersected 25.6 m at 2.1 g/t gold equivalent (AuEq), including 1.5 m

at 9.0 g/t AuEq, from a vertical depth of 95 m. This hole extended mineralization 32 m

to the south of hole KM-23-125, leaving shallow mineralization open in this direction for

follow-up drilling, and shows excellent continuity of thick mineralization below and

south of KM-23-123 (28.1 m at 1.0% CuEq).

• Hole KM-23-128 returned 21.5 m at 1.8 g/t AuEq, including 4.1 m at 5.2 g/t AuEq,

from a vertical depth of 222 m. This hole confirmed continuous mineralization in a 90 m

gap along the southern edge of the deposit.

• Hole KM-23-132 intersected 26.5 m at 1.9% CuEq, including 2.4 m at 4.0% CuEq and

2.7 m at 4.4% CuEq, from a vertical depth of 222 m. This hole demonstrated excellent

continuity between previous holes KM-21-18A (32.5 m at 1.9% CuEq) and KM-21-44

(23.9 m at 1.8% CuEq).

• Hole KM-23-133 intersected 12.8 m at 1.8% CuEq and 22.1 m at 0.64% CuEq,

including 0.5 m @ 36.8 g/t AuEq, from a vertical depth of 214 m. This hole returned the

third-highest gold assay on the project to date and confirms excellent thicknesses of

mineralization in the 96 m gap between holes KM-21-32 and KM-21-29.

Marc Pais, CEO, comment ed, “These new drill results from the Kay Deposit continue to point

to its expansion potential, in this case extending shallow gold -rich mineralization 32 m south of

previous drilling.

We will continue to test these shallower portions of the deposit along more than 350 m of strike

length defined to date, while also expanding mineralization with the second rig targeting northern

and southern extensions of the Kay Deposit as part of our resource definition program.”

With the completion of recent drill holes, Arizona Metals has drilled a total of 104,000 meters on

the Property. The Company is fully funded (with $40 million in cash a s of Sept 30, 202 3) to

complete the remaining 55,000 m of the 76,000 m Phase 3 drill program.

Kay Deposit Shallow Drilling

KM-23-127

• 25.6 m @ 2.1 g/t AuEq, including 1.5 m @ 9.0 g/t AuEq.

• Extended mineralization 32 m to the south of hole KM -23-125, leaving shallow

mineralization open in this direction for follow-up drilling, and shows excellent continuity

of thick mineralization below and south of KM-23-123 (28.1 m @ 1.0% CuEq).

KM-23-129

• No significant assays.

Kay Deposit Drilling

KM-23-128

• 21.5 m @ 1.8 g/t AuEq, including 4.1 m @ 5.2 g/t AuEq.

• Confirmed continuous mineralization in a 90-m gap along the southern edge of the deposit.

KM-23-130

• No significant assays.

KM-23-132

• 26.4 m @ 1.9% CuEq, including 2.4 m @ 4.0% CuEq and 2.7 m @ 4.4% CuEq.

• Demonstrated excellent continuity between previous holes KM -21-18A (32.5 m @ 1.9%

CuEq) and KM-21-44 (23.9 m @ 1.8% CuEq).

KM-23-133

• 12.8 m @ 1.8% CuEq and 22.1 m @ 0.64% CuEq, including 0.5 m @ 36.8 g/t AuEq.

• This hole returned the third -highest gold assay on the project to date, 28.7 g/t Au

(407.5-408 m).

• Confirms excellent thicknesses of mineralization in the 96 m gap between holes KM-21-

32 and KM-21-29

KM-23-135

• 1.2 m @ 3.8 g/t AuEq.

• Falling in the 67 -m gap between holes KM -23-128 above (21.5 m @ 1.8 g/t AuEq) and

KM-21-47 below (2.0 m @ 9.0 g/t AuEq), this hole confirms good continuous gold grades

along the southern portion of the deposit in this area.

Figure 1. Long section displaying new drill holes reported in this release (labels highlighted yellow). See Tables 1-3

for additional details. The true width of mineralization in this area is yet to be determined. See Table 1 for

constituent elements, grades, metals prices and recovery assumptions used for AuEq g/t and CuEq % calculations.

Analyzed Metal Equivalent calculations are reported for illustrative purposes only.

Figure 2. Cross-section view looking north at the Kay Deposit, showing assay intervals in drilling reported in this

release. See Tables 1-3 for additional details. The true width of mineralization is estimated to be 50% to 99% of

reported core width, with an average of 76%.

Figure 3. Drill core from Hole KM-23-133, showing the 0.5 m interval 407.5 m to 408 m which intersected 28.7 g/t

gold, 7.1% copper, 0.99% zinc, and 564 g/t silver (for an equivalent grade after assumed recoveries of 36.8 g/t

AuEq).

Table 1. Results of Phase 3 Drill Program at the Kay Exploration Project, Yavapai County, Arizona announced in this

news release.

The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 76%. (2) Assumptions used in USD for

the copper and gold metal equivalent calculations were metal prices of $4.63/lb Copper, $1937/oz Gold, $25/oz Silver, $1.78/lb Zinc, and $1.02/lb

Pb. Assumed metal recoveries (rec.), based on a preliminary review of histor ic data by SRK and ProcessIQ 1, were 93% for copper, 92% for zinc,

90% for lead, 72% silver, and 70% for gold . The following equation was used to calculate copper equivalence: CuEq = Copper (%) (9 3% rec.) +

(Gold (g/t) x 0.61)(72% rec.) + (Silver (g/t) x 0.0079)(72% rec.) + (Zinc (%) x 0.3844)(9 3% rec.) +(Lead (%) x 0.2203)(9 3% rec.). The following

equation was used to calculate gold equivalence: AuEq = Gold (g/t)( 72% rec.) + (Copper (%) x 1.638)(93% rec.) + (Silver (g/t) x 0.01 291)(72%

rec.) + (Zinc (%) x 0.6299)(93% rec.) +(Lead (%) x 0.3609)(93% rec.). Analyzed metal equivalent calculations are reported for illustrative purposes

only. The metal chosen for reporting on an equivalent basis is the one that contributes the most dollar value after accounting for assumed recoveries.

1 SRK Consulting (Canada) Inc., March 2022, Updated Metallurgical Review, Kay Mine, Arizona. Report

3CA061.004

Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Cu eq % Au eq g/t Zn eq% Cu eq % Au eq g/t Zn eq%

KM-23-127 345.0 370.6 25.6 0.32 0.82 1.34 18.2 0.23 1.53 2.51 3.98 1.27 2.08 3.30

including 346.6 348.1 1.5 0.68 3.10 7.40 99.0 1.91 6.62 10.86 17.23 5.52 9.04 14.35

KM-23-128 378.1 399.6 21.5 0.29 0.53 1.27 20.5 0.24 1.32 2.16 3.43 1.11 1.82 2.89

including 378.1 382.2 4.1 0.73 1.58 3.81 58.9 0.68 3.78 6.19 9.83 3.17 5.20 8.26

KM-23-129 no significant assays

KM-23-130 no significant assays

KM-23-132 378.1 404.5 26.4 0.84 0.90 1.77 12.1 0.22 2.21 3.63 5.76 1.90 3.12 4.95

including 389.6 392.0 2.4 3.18 1.09 1.39 18.6 0.10 4.55 7.45 11.82 4.04 6.62 10.50

including 398.7 401.5 2.7 2.12 2.72 3.04 25.2 0.37 5.23 8.57 13.60 4.42 7.25 11.51

KM-23-133 362.6 384.7 22.1 0.34 0.14 0.57 8.8 0.07 0.72 1.19 1.88 0.64 1.04 1.66

KM-23-133 395.2 408.0 12.8 0.48 1.75 0.98 38.0 0.12 2.26 3.70 5.87 1.78 2.93 4.64

including 407.5 408.0 0.5 7.12 28.70 0.99 564.0 0.00 29.49 48.33 76.70 22.45 36.80 58.40

KM-23-135 424.6 425.8 1.2 0.05 0.60 3.81 68.0 1.24 2.70 4.42 7.01 2.29 3.75 5.95

Analyzed Grade Analyzed Metal Equivalent Metal Equivalent

Table 2. Full results to date of Phase 2 and 3 Drill Program at the Kay Deposit, Yavapai County, Arizona. See Table

1 for width and metal equivalency notes.

Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Cu eq % Au eq g/t Zn eq% Cu eq % Au eq g/t Zn eq%

KM-21-17 429.5 449.9 20.4 1.81 1.10 1.20 21.2 0.17 3.14 5.15 8.18 2.73 4.47 7.10

including 429.5 434.0 4.6 4.61 1.73 1.91 29.1 0.24 6.68 10.96 17.39 5.92 9.70 15.39

including 432.7 434.0 1.4 0.52 6.81 8.29 40.0 1.10 8.41 13.79 21.89 6.76 11.09 17.60

KM-21-17 504.4 505.4 0.9 1.19 4.73 0.05 9.0 0.00 4.17 6.83 10.84 3.20 5.24 8.31

KM-21-18 404.3 429.8 25.5 0.35 0.86 1.71 15.8 0.23 1.71 2.80 4.44 1.43 2.35 3.72

including 408.6 410.6 2.0 0.50 2.22 7.25 64.4 0.82 5.33 8.74 13.87 4.51 7.39 11.72

including 424.9 427.3 2.4 1.60 2.59 3.16 18.0 0.52 4.66 7.64 12.12 3.92 6.43 10.21

KM-21-18A 391.4 423.8 32.5 1.09 0.62 1.25 17.7 0.15 2.13 3.48 5.53 1.85 3.04 4.82

including 393.3 395.8 2.4 9.57 2.83 2.72 40.9 0.28 12.73 20.87 33.12 11.36 18.63 29.56

KM-21-19 377.8 378.3 0.5 3.39 5.59 6.83 128.0 0.63 10.58 17.34 27.52 8.81 14.44 22.92

KM-21-20 442.7 443.6 0.9 2.56 0.52 3.52 18.5 0.14 4.40 7.22 11.45 3.98 6.52 10.34

KM-21-20 456.0 458.1 2.1 1.49 0.35 0.14 6.0 0.04 1.81 2.97 4.71 1.63 2.66 4.23

KM-21-21 452.6 495.5 42.8 0.80 0.78 1.52 15.1 0.15 2.01 3.29 5.22 1.73 2.83 4.49

including 488.7 493.5 4.8 0.26 2.50 6.13 27.6 0.54 4.48 7.34 11.65 3.74 6.13 9.73

KM-21-21A 422.0 431.4 9.4 1.17 0.57 2.25 8.6 0.36 2.53 4.15 6.58 2.25 3.68 5.85

KM-21-21A 439.1 502.1 63.0 0.45 1.28 3.14 58.8 0.77 3.08 5.04 8.00 2.57 4.21 6.67

including 465.0 481.9 16.9 0.52 2.45 4.05 80.9 0.99 4.43 7.26 11.53 3.62 5.94 9.42

KM-21-22 679.4 682.8 3.4 0.79 0.95 0.06 12.0 0.01 1.49 2.44 3.87 1.23 2.01 3.20

KM-21-22A no significant assays

KM-21-23 394.4 401.4 7.0 0.36 0.93 1.94 13.5 1.17 2.05 3.35 5.32 1.73 2.84 4.51

KM-21-23 438.6 459.2 20.6 0.17 1.18 1.93 27.8 0.37 1.94 3.17 5.03 1.58 2.59 4.11

KM-21-24 501.2 592.1 90.8 0.45 1.33 3.42 44.6 0.41 3.02 4.95 7.86 2.53 4.15 6.59

including 501.2 521.7 20.4 1.34 1.70 6.35 113.1 0.66 5.86 9.60 15.24 4.99 8.18 12.99

including 520.9 521.7 0.8 1.75 16.50 9.55 574.0 1.22 20.31 33.29 52.82 15.57 25.52 40.50

including 575.9 592.1 16.2 0.16 2.50 6.00 44.4 0.79 4.51 7.40 11.74 3.75 6.14 9.74

including 588.7 590.4 1.7 0.47 9.98 23.70 18.2 0.13 15.84 25.96 41.20 13.21 21.65 34.36

KM-21-25 662.6 741.3 78.6 1.41 2.33 2.79 43.4 0.35 4.33 7.10 11.26 3.61 5.92 9.40

including 663.2 672.7 9.4 8.06 1.84 1.31 92.3 0.15 10.45 17.13 27.18 9.30 15.24 24.19

including 693.0 703.9 11.0 0.68 6.28 10.40 99.7 1.17 9.56 15.66 24.86 7.79 12.77 20.27

KM-21-25A 654.7 719.9 65.2 1.04 1.94 2.15 18.9 0.18 3.25 5.32 8.44 2.71 4.43 7.04

including 655.5 662.8 7.3 3.66 2.09 1.85 30.2 0.21 5.93 9.73 15.44 5.17 8.47 13.44

including 710.8 716.9 6.1 2.72 7.95 3.73 37.4 0.31 9.37 15.36 24.38 7.52 12.33 19.56

KM-21-25B 647.2 648.9 1.7 0.13 0.58 2.41 62.1 0.64 2.04 3.35 5.31 1.70 2.79 4.42

KM-21-25B 655.6 659.9 4.3 0.93 0.91 0.91 25.3 0.19 2.07 3.40 5.40 1.75 2.88 4.56

KM-21-25B 666.0 667.8 1.8 0.60 0.72 2.98 33.5 0.43 2.55 4.18 6.63 2.20 3.61 5.72

KM-21-25B 673.3 674.7 1.4 0.08 2.10 2.39 23.0 0.33 2.53 4.15 6.58 2.01 3.29 5.23

KM-21-25B 681.2 682.6 1.4 0.09 1.54 2.98 11.0 0.35 2.34 3.83 6.08 1.93 3.16 5.01

KM-21-26 506.7 582.8 76.0 0.79 1.61 4.23 32.7 0.54 3.78 6.19 9.83 3.21 5.27 8.36

including 511.1 526.1 14.9 0.73 1.78 9.68 43.3 0.77 6.05 9.92 15.74 5.26 8.63 13.69

including 573.8 582.8 9.0 4.02 6.06 3.32 18.2 0.19 9.18 15.04 23.87 7.64 12.52 19.87

KM-21-27 706.8 738.2 31.4 1.58 0.16 0.69 9.0 0.06 2.03 3.33 5.28 1.85 3.03 4.80

KM-21-27 764.4 777.4 13.0 2.85 0.48 0.17 8.5 0.02 3.29 5.39 8.55 2.97 4.87 7.73

KM-21-27A 666.3 769.4 103.1 0.79 1.06 1.90 35.8 0.42 2.54 4.17 6.62 2.15 3.52 5.59

including 666.3 687.0 20.7 3.21 1.39 1.26 19.4 0.20 4.74 7.77 12.33 4.18 6.84 10.86

including 706.4 724.6 18.3 0.69 2.69 4.70 92.2 1.21 5.13 8.41 13.35 4.22 6.91 10.97

including 752.9 763.8 11.0 0.07 1.07 4.68 95.3 0.98 3.49 5.73 9.09 2.92 4.78 7.59

KM-21-27B 665.8 762.9 97.1 1.31 1.62 3.21 31.7 0.40 3.88 6.35 10.08 3.31 5.42 8.61

including 702.0 723.0 21.0 0.87 4.56 9.03 81.5 1.10 8.01 13.13 20.83 6.63 10.87 17.25

including 723.0 738.2 15.2 4.97 0.36 0.42 18.7 0.05 5.51 9.03 14.33 5.04 8.26 13.11

KM-21-28 640.7 694.9 54.3 1.87 2.85 5.03 29.4 0.70 5.93 9.72 15.43 5.04 8.26 13.12

including 660.2 671.6 11.4 0.54 4.29 9.30 32.2 1.17 7.24 11.87 18.84 6.04 9.89 15.70

including 681.1 689.0 7.9 4.39 9.47 10.34 93.1 2.41 15.42 25.27 40.10 12.80 20.98 33.29

including 690.4 692.6 2.2 16.06 0.82 0.06 55.8 0.01 17.02 27.90 44.28 15.62 25.61 40.64

KM-21-29 393.0 393.8 0.8 0.43 1.54 4.92 9.0 0.21 3.38 5.54 8.79 2.89 4.74 7.53

KM-21-30 264.9 267.9 3.0 1.18 0.02 0.01 1.5 0.00 1.21 1.98 3.15 1.12 1.83 2.91

KM-21-31 no significant assays

KM-21-32 316.4 320.0 3.7 1.84 1.29 2.47 38.5 0.30 3.95 6.47 10.27 3.41 5.60 8.88

KM-21-32 342.9 345.9 3.0 0.67 0.52 2.70 13.0 0.15 2.16 3.54 5.62 1.90 3.12 4.95

KM-21-32 358.9 368.4 9.4 0.60 1.47 1.99 45.7 0.35 2.70 4.42 7.01 2.22 3.63 5.76

KM-21-33 171.3 172.5 1.2 3.79 0.45 0.21 63.0 0.17 4.69 7.68 12.19 4.19 6.86 10.89

KM-21-34 299.3 303.9 4.6 0.29 1.69 0.94 46.3 0.26 2.12 3.47 5.50 1.65 2.70 4.29

KM-21-34 309.7 310.9 1.2 2.27 0.56 1.55 19.9 0.08 3.38 5.54 8.80 3.03 4.96 7.87

KM-21-35 609.6 615.1 5.5 0.92 1.26 1.71 57.7 0.02 2.80 4.60 7.29 2.33 3.82 6.06

including 609.6 613.0 3.4 1.39 1.69 1.98 54.0 0.01 3.61 5.92 9.40 3.03 4.96 7.87

KM-21-36 no significant assays

KM-21-37 no significant assays

KM-21-38 406.5 407.8 1.4 0.60 1.08 9.41 4.0 0.25 4.96 8.13 12.90 4.42 7.24 11.49

KM-21-38 467.4 476.1 8.7 0.09 1.73 3.87 61.1 1.22 3.38 5.55 8.80 2.78 4.56 7.23

including 470.0 475.2 5.2 0.12 2.44 5.68 87.5 1.79 4.88 8.01 12.71 4.02 6.59 10.46

KM-21-39 no significant assays

KM-21-40 589.8 613.8 24.0 4.98 0.61 0.98 23.4 0.45 6.01 9.86 15.65 5.46 8.95 14.21

including 589.8 597.9 8.1 7.63 0.43 0.39 27.1 0.17 8.30 13.60 21.58 7.61 12.47 19.78

KM-21-40 627.9 680.8 52.9 0.47 2.91 3.40 35.7 0.40 3.93 6.44 10.22 3.17 5.20 8.25

including 641.1 648.3 7.2 1.15 7.66 8.27 88.5 0.92 9.90 16.23 25.76 7.95 13.03 20.68

including 670.3 674.1 3.8 1.53 10.89 9.47 24.6 0.61 12.15 19.91 31.59 9.69 15.88 25.19

KM-21-41 462.6 559.3 96.7 1.04 1.54 2.66 40.8 0.35 3.41 5.59 8.86 2.87 4.71 7.47

including 503.2 514.2 11.0 0.99 5.34 8.17 106.3 1.63 8.59 14.08 22.35 7.02 11.51 18.26

including 546.7 558.1 11.4 5.86 5.83 3.24 185.4 0.04 12.14 19.90 31.58 10.15 16.64 26.40

including 553.1 556.9 3.8 7.11 9.55 5.70 505.8 0.09 19.16 31.41 49.84 15.62 25.59 40.62

KM-21-42 803.5 810.3 6.9 0.05 1.60 1.58 64.3 0.35 2.22 3.64 5.78 1.73 2.83 4.49

KM-21-42 835.5 839.7 4.3 0.63 2.46 2.15 21.7 0.21 3.18 5.20 8.26 2.56 4.20 6.67

KM-21-42 853.7 854.7 0.9 0.11 1.63 2.88 28.0 0.40 2.52 4.13 6.55 2.05 3.37 5.34

KM-21-42A 786.7 787.6 0.9 0.03 3.61 2.18 17.0 0.70 3.36 5.51 8.74 2.58 4.22 6.70

KM-21-42A 805.4 811.1 5.6 6.17 0.92 0.18 39.5 0.01 7.12 11.68 18.53 6.43 10.54 16.72

including 807.0 808.9 2.0 10.72 0.87 0.11 61.8 0.00 11.79 19.32 30.66 10.74 17.60 27.93

KM-21-42A 840.9 877.2 36.3 0.55 0.62 1.35 10.7 0.13 1.56 2.56 4.06 1.34 2.20 3.49

KM-21-42B 808.0 811.2 3.2 0.29 2.06 5.77 63.0 0.94 4.47 7.33 11.63 3.74 6.13 9.72

KM-21-42B 816.9 819.9 3.0 2.31 0.66 1.23 16.0 0.15 3.35 5.49 8.71 2.99 4.90 7.77

KM-21-42B 835.5 840.8 5.3 0.02 0.73 2.93 13.5 0.24 1.75 2.87 4.56 1.49 2.45 3.88

KM-21-42C 849.2 877.4 28.2 3.81 0.47 0.29 12.5 0.09 4.32 7.08 11.24 3.93 6.44 10.23

including 849.2 854.7 5.5 14.57 0.66 0.16 37.5 0.03 15.34 25.14 39.89 14.11 23.12 36.70

including 863.8 869.4 5.6 2.29 1.17 0.59 13.1 0.25 3.39 5.55 8.81 2.96 4.85 7.70

including 874.8 877.4 2.6 2.83 0.26 0.03 7.2 0.01 3.06 5.02 7.96 2.80 4.59 7.28

KM-21-42C 886.1 889.1 3.0 0.87 0.88 0.50 5.2 0.05 1.65 2.71 4.30 1.40 2.30 3.65

KM-21-43 583.7 607.1 23.4 0.39 0.25 3.68 3.1 0.02 1.98 3.25 5.15 1.79 2.93 4.65

including 598.9 599.8 0.9 0.50 0.18 11.30 3.0 0.03 4.99 8.17 12.97 4.56 7.48 11.87

KM-21-43 616.0 633.1 17.1 1.81 0.17 0.14 8.2 0.03 2.04 3.34 5.31 1.86 3.05 4.84

including 631.2 633.1 1.8 6.30 0.61 0.09 25.0 0.01 6.91 11.32 17.97 6.30 10.32 16.38

KM-21-44 353.4 377.3 23.9 0.34 0.97 2.52 18.3 0.33 2.12 3.47 5.50 1.79 2.93 4.65

including 354.0 356.6 2.6 0.23 2.14 7.97 38.9 0.68 5.06 8.29 13.15 4.30 7.05 11.19

KM-21-45 459.6 463.0 3.4 0.32 0.62 6.63 82.3 0.87 4.10 6.71 10.65 3.55 5.82 9.24

including 461.2 462.1 0.9 0.15 1.23 16.90 182.0 2.50 9.39 15.38 24.41 8.17 13.39 21.26

KM-21-46 350.4 362.9 12.4 0.66 2.61 3.69 40.6 0.39 4.08 6.69 10.61 3.34 5.48 8.70

including 350.4 353.3 2.8 0.77 5.19 6.83 107.0 0.72 7.58 12.42 19.70 6.11 10.01 15.88

KM-21-47 433.9 435.9 2.0 0.16 1.88 9.28 138.7 2.17 6.46 10.58 16.79 5.46 8.95 14.20

KM-21-48 605.2 610.7 5.5 3.54 0.45 0.19 12.7 0.05 4.00 6.55 10.40 3.63 5.95 9.45

KM-21-48 630.3 634.6 4.3 1.11 0.34 0.69 12.7 0.11 1.71 2.80 4.45 1.52 2.49 3.95

KM-21-48 685.5 696.8 11.3 0.98 0.05 0.06 4.2 0.02 1.07 1.75 2.77 0.98 1.60 2.54

KM-21-48 715.1 718.4 3.4 2.08 0.04 0.03 4.3 0.01 2.15 3.52 5.59 1.98 3.25 5.16

KM-21-48 723.0 724.5 1.5 1.54 0.07 0.06 4.0 0.02 1.64 2.68 4.26 1.51 2.47 3.92

KM-21-48 735.5 743.6 8.1 0.34 0.60 1.52 9.2 0.07 1.38 2.26 3.59 1.18 1.93 3.06

KM-21-48A 538.0 539.5 1.5 0.31 1.17 2.79 29.0 0.52 2.44 4.01 6.36 2.05 3.35 5.32

KM-21-48A 687.9 696.9 9.0 1.64 0.36 0.79 7.9 0.01 2.23 3.66 5.80 2.01 3.29 5.22

including 687.9 688.8 0.9 0.15 1.53 5.35 5.0 0.01 3.18 5.21 8.27 2.71 4.45 7.06

including 694.9 696.0 1.1 8.36 0.80 0.10 40.0 0.03 9.21 15.10 23.96 8.39 13.75 21.81

KM-21-49 lost hole

KM-21-50 489.5 501.9 12.3 0.98 2.30 6.36 111.9 1.24 5.99 9.81 15.57 5.02 8.24 13.07

including 489.5 493.0 3.4 2.64 3.59 9.49 207.7 1.65 10.49 17.20 27.30 8.86 14.52 23.05

KM-21-50 509.0 562.1 53.1 0.44 0.84 1.28 35.8 0.27 1.79 2.93 4.65 1.48 2.42 3.84

including 538.1 545.6 7.5 0.28 1.94 2.62 112.8 0.82 3.55 5.81 9.23 2.82 4.63 7.34

KM-21-51 no significant assays

KM-21-51A no significant assays

KM-21-51B 860.5 870.2 9.8 3.00 0.13 0.10 6.5 0.05 3.18 5.21 8.27 2.93 4.80 7.62

including 864.7 865.6 0.9 8.70 0.09 0.09 16.0 0.10 8.93 14.64 23.24 8.27 13.55 21.51

KM-21-51B 881.5 884.2 2.7 0.52 0.22 0.62 28.3 0.14 1.15 1.88 2.98 0.99 1.61 2.56

KM-21-51B 893.7 903.4 9.8 1.51 0.10 0.06 4.4 0.01 1.63 2.67 4.24 1.49 2.45 3.89

including 898.2 899.3 1.1 6.56 0.11 0.10 15.0 0.04 6.79 11.13 17.67 6.28 10.29 16.32

KM-21-52 751.5 758.2 6.7 1.18 0.66 0.98 18.2 0.14 2.14 3.50 5.56 1.86 3.05 4.84

KM-21-52 787.5 789.6 2.1 0.04 1.27 1.68 28.5 0.22 1.73 2.84 4.50 1.38 2.25 3.58

KM-21-52A 763.7 793.1 29.4 0.25 1.12 1.36 51.6 0.47 1.97 3.22 5.11 1.58 2.58 4.10

including 763.7 764.9 1.2 0.38 3.01 8.69 132.0 1.68 6.97 11.43 18.13 5.80 9.50 15.08

including 771.8 774.5 2.7 1.39 2.46 4.59 116.4 1.82 5.98 9.81 15.56 5.00 8.19 12.99

including 781.5 787.6 6.1 0.31 2.63 1.64 119.5 0.65 3.64 5.97 9.47 2.81 4.60 7.30

KM-21-52A 801.3 802.5 1.2 0.42 0.90 1.29 82.0 0.17 2.15 3.52 5.59 1.73 2.83 4.50

KM-21-52A 818.8 820.2 1.4 0.39 1.62 1.29 188.0 0.36 3.45 5.65 8.96 2.66 4.35 6.91

KM-21-52A 831.2 852.4 21.2 0.05 0.91 0.80 27.2 0.29 1.19 1.95 3.10 0.93 1.52 2.42

including 837.0 841.6 4.6 0.03 2.16 1.34 69.0 0.79 2.59 4.24 6.73 1.98 3.24 5.14

KM-21-53 539.5 542.5 3.0 0.03 1.49 1.34 1.0 0.01 1.46 2.40 3.81 1.15 1.88 2.98

KM-21-54 no significant assays

KM-21-55 302.7 308.5 5.8 0.66 0.44 0.53 15.8 0.10 1.28 2.10 3.33 1.10 1.80 2.86

KM-21-56 434.6 435.9 1.2 1.53 0.39 0.13 19.0 0.01 1.97 3.23 5.12 1.75 2.86 4.54

KM-21-56 499.1 501.5 2.4 1.53 0.18 7.15 6.4 0.02 4.45 7.29 11.57 4.07 6.68 10.59

including 499.1 500.2 1.1 1.97 0.31 14.55 7.0 0.02 7.81 12.81 20.33 7.16 11.73 18.61

KM-21-56 524.0 525.0 1.1 0.97 0.12 0.07 5.0 0.03 1.12 1.83 2.91 1.01 1.66 2.64

KM-21-56 558.2 563.6 5.3 0.82 0.99 3.09 27.0 0.06 2.84 4.65 7.38 2.44 4.00 6.35

KM-21-56 577.0 578.2 1.2 0.02 1.66 0.47 5.0 0.02 1.26 2.06 3.27 0.92 1.52 2.41

KM-21-57 776.5 784.3 7.8 0.26 2.30 2.59 57.9 0.68 3.27 5.36 8.51 2.61 4.28 6.79

including 777.8 778.8 0.9 0.25 6.62 11.45 105.0 3.33 10.26 16.81 26.68 8.37 13.72 21.77

KM-21-57 819.9 835.5 15.5 1.29 2.17 2.58 90.9 0.27 4.39 7.19 11.41 3.61 5.92 9.40

including 824.0 827.5 3.5 3.69 4.67 3.81 228.5 0.29 9.88 16.19 25.69 8.13 13.33 21.15

KM-21-57 852.5 853.6 1.1 0.30 3.10 2.33 92.0 0.57 3.94 6.46 10.25 3.06 5.02 7.97

KM-21-57A 728.6 735.5 6.9 2.49 1.04 0.57 6.6 0.02 3.40 5.57 8.84 3.00 4.92 7.81

KM-21-57A 759.6 821.4 61.9 1.08 2.60 3.73 32.0 0.50 4.46 7.31 11.60 3.71 6.08 9.65

including 762.3 783.3 21.0 0.42 6.78 9.49 67.9 0.49 8.84 14.50 23.00 7.12 11.67 18.52

KM-22-57B 736.7 862.0 125.3 1.41 0.83 1.27 12.4 0.13 2.53 4.14 6.57 2.21 3.62 5.74

including 739.7 741.6 1.8 9.42 2.37 0.32 8.5 0.03 11.06 18.12 28.76 9.93 16.28 25.84

including 798.3 805.6 7.3 6.35 0.81 3.76 19.5 0.14 8.47 13.89 22.04 7.72 12.65 20.08

KM-22-57C 784.3 885.1 100.9 1.24 1.54 1.56 25.8 0.14 3.02 4.95 7.85 2.54 4.16 6.61

including 829.4 837.9 8.5 1.60 7.71 9.04 100.9 0.35 10.66 17.47 27.72 8.62 14.14 22.43

including 852.2 857.6 5.3 6.81 0.10 0.09 23.3 0.02 7.10 11.63 18.46 6.55 10.73 17.03

KM-21-58 577.0 586.4 9.4 0.43 1.28 2.48 41.3 0.47 2.59 4.25 6.74 2.15 3.52 5.59

KM-21-58 614.2 682.6 68.4 1.30 3.42 3.85 47.2 0.50 5.35 8.78 13.93 4.40 7.22 11.45

including 640.7 648.0 7.3 0.79 4.34 10.20 51.9 0.56 7.90 12.94 20.54 6.60 10.83 17.18

including 668.1 678.6 10.5 5.30 12.19 6.67 194.7 1.88 17.26 28.30 44.90 13.98 22.92 36.37

including 668.1 669.6 1.5 2.55 43.20 7.76 856.0 0.80 38.86 63.69 101.08 28.62 46.90 74.43

KM-21-58A 569.4 641.8 72.5 1.12 1.00 2.84 18.1 0.33 3.03 4.97 7.89 2.64 4.32 6.86

including 584.3 591.9 7.6 0.29 1.19 6.23 4.4 0.40 3.53 5.79 9.19 3.09 5.06 8.02

including 602.3 613.3 11.0 4.02 0.11 1.38 12.6 0.40 4.80 7.88 12.50 4.42 7.25 11.51

including 630.3 630.9 0.7 1.14 6.35 11.20 356.0 0.65 12.28 20.13 31.95 9.89 16.21 25.73

including 633.5 641.8 8.3 1.53 2.33 5.12 26.5 0.36 5.20 8.53 13.53 4.45 7.29 11.56

KM-21-58A 665.5 676.0 10.5 0.12 2.90 3.88 167.5 1.92 5.13 8.41 13.34 4.06 6.65 10.55

including 672.5 676.0 3.5 0.12 6.89 6.40 332.0 3.81 10.26 16.82 26.70 7.98 13.07 20.74

including 673.6 674.5 0.9 0.28 19.65 12.65 844.0 10.20 26.07 42.74 67.82 19.97 32.73 51.94

KM-21-58B 543.2 627.6 84.4 1.05 2.38 3.44 23.8 0.55 4.13 6.77 10.75 3.45 5.66 8.98

including 571.2 582.5 11.3 0.51 5.27 9.96 35.4 1.52 8.18 13.40 21.27 6.76 11.08 17.58

including 605.3 622.7 17.4 3.20 6.19 4.18 40.9 0.22 8.96 14.69 23.31 7.38 12.09 19.19

including 609.6 612.0 2.4 1.45 17.73 7.97 82.5 0.44 16.08 26.35 41.81 12.29 20.15 31.97

KM-21-59 no significant assays

KM-22-59A 903.7 905.9 2.1 0.61 0.10 0.65 10.3 0.10 1.02 1.68 2.66 0.92 1.50 2.38

Analyzed Grade Analyzed Metal Equivalent Metal Equivalent

Table 3. Full results to date of Phase 2 and 3 Drill Program at the Kay Deposit, Yavapai County, Arizona. See Table 1

for width and metal equivalency notes.

Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Cu eq % Au eq g/t Zn eq% Cu eq % Au eq g/t Zn eq%

KM-22-60 554.7 648.0 93.3 1.36 5.65 3.25 32.6 0.34 6.39 10.47 16.62 5.08 8.32 13.21

including 591.6 597.7 6.1 0.58 5.62 12.00 56.3 1.40 9.37 15.37 24.38 7.78 12.75 20.24

including 627.0 644.5 17.5 5.22 25.37 4.71 100.6 0.59 23.44 38.42 60.98 18.05 29.59 46.95

including 634.3 635.5 1.2 5.63 273.00 0.18 715.0 0.28 177.99 291.74 462.98 126.03 206.57 327.82

KM-22-61 560.8 580.0 19.2 0.72 0.20 0.69 7.0 0.06 1.18 1.93 3.07 1.05 1.73 2.74

KM-22-62 636.6 682.8 46.2 0.22 1.47 3.22 53.5 0.47 2.89 4.73 7.51 2.37 3.89 6.18

including 644.4 646.2 1.8 0.89 4.36 19.26 133.0 0.77 12.18 19.96 31.68 10.41 17.07 27.09

including 650.7 657.5 6.8 0.34 3.21 9.59 145.2 1.79 7.53 12.34 19.59 6.26 10.26 16.29

including 663.2 665.5 2.3 0.53 8.66 7.82 181.6 1.55 10.60 17.38 27.58 8.30 13.61 21.60

KM-22-62 704.1 706.2 2.1 0.36 2.88 3.33 61.5 0.46 3.99 6.53 10.37 3.18 5.22 8.28

KM-22-62A 582.2 643.6 61.4 0.31 1.27 2.65 40.8 0.58 2.55 4.18 6.64 2.11 3.47 5.50

including 593.1 602.4 9.3 1.15 2.29 4.37 52.4 0.91 4.85 7.94 12.60 4.08 6.68 10.60

including 608.9 617.8 8.8 0.20 1.79 4.26 91.2 1.15 3.90 6.40 10.15 3.20 5.25 8.33

including 627.7 630.9 3.2 0.41 7.10 15.01 180.0 2.77 12.56 20.58 32.66 10.31 16.89 26.81

KM-22-62A 653.8 660.5 6.7 0.26 1.69 2.58 90.4 0.75 3.17 5.19 8.24 2.54 4.17 6.61

KM-22-62B 590.9 599.4 8.5 1.48 0.47 1.04 21.6 0.27 2.39 3.92 6.23 2.12 3.47 5.51

KM-22-62B 606.2 629.0 22.7 0.20 1.05 1.77 21.2 0.23 1.75 2.86 4.54 1.43 2.35 3.73

including 623.8 629.0 5.2 0.21 3.61 6.52 56.6 0.81 5.55 9.09 14.43 4.53 7.42 11.78

KM-22-62C 613.6 630.3 16.8 0.57 0.40 0.48 20.5 0.11 1.18 1.94 3.07 1.01 1.65 2.62

KM-22-62C 638.3 653.8 15.5 0.25 2.34 3.34 34.8 0.34 3.31 5.43 8.62 2.68 4.39 6.97

including 648.5 653.8 5.3 0.32 4.21 6.57 74.7 0.73 6.18 10.12 16.06 5.00 8.19 13.00

KM-22-63 982.2 983.1 0.9 3.41 1.23 2.19 47.0 0.24 5.43 8.90 14.12 4.79 7.85 12.45

KM-22-63A no significant assays

KM-22-63B 890.3 891.8 1.5 0.10 0.47 0.43 15.0 0.08 0.68 1.12 1.77 0.54 0.89 1.41

KM-22-63C no significant assays

KM-22-63D no significant assays

KM-22-64 317.4 325.5 8.1 1.13 0.09 2.30 14.3 0.08 2.20 3.60 5.72 2.00 3.27 5.20

KM-22-65 334.4 337.1 2.7 1.39 0.06 0.34 7.0 0.03 1.62 2.65 4.21 1.48 2.43 3.86

KM-22-66 384.4 414.8 30.5 1.00 0.11 0.09 3.0 0.01 1.13 1.85 2.94 1.03 1.69 2.68

KM-22-67 340.2 345.9 5.8 0.38 0.06 0.55 4.4 0.09 0.69 1.13 1.79 0.62 1.02 1.61

KM-22-68 407.2 408.7 1.5 1.71 0.49 0.08 8.4 0.06 2.11 3.46 5.49 1.88 3.08 4.89

KM-22-68 435.9 446.5 10.7 0.54 0.18 0.29 4.3 0.04 0.80 1.31 2.08 0.71 1.17 1.85

KM-22-69 342.0 343.6 1.6 1.19 0.87 0.96 25.7 0.06 2.30 3.78 5.99 1.97 3.24 5.14

KM-22-70 lost hole

KM-22-71 631.2 648.5 17.3 0.53 0.16 0.21 9.6 0.01 0.78 1.28 2.03 0.69 1.12 1.78

KM-22-71 657.8 668.6 10.8 3.18 0.35 0.16 22.6 0.01 3.64 5.96 9.46 3.29 5.40 8.57

including 657.8 661.4 3.7 6.75 0.28 0.09 30.9 0.02 7.20 11.81 18.74 6.61 10.83 17.19

KM-22-71A 554.3 561.4 7.2 0.39 0.22 0.64 10.3 0.22 0.90 1.47 2.34 0.78 1.29 2.04

KM-22-72 637.6 660.2 22.6 0.34 0.38 1.15 13.0 0.27 1.18 1.93 3.06 1.01 1.66 2.63

KM-22-72 669.3 671.3 2.0 0.17 2.15 4.15 23.1 0.56 3.38 5.55 8.80 2.79 4.57 7.25

KM-22-73 no significant assays

KM-22-74 649.2 688.2 39.0 0.40 1.77 3.39 30.5 0.32 3.09 5.07 8.05 2.56 4.20 6.67

including 652.6 659.8 7.2 0.68 2.57 5.13 18.0 0.11 4.39 7.19 11.42 3.67 6.02 9.55

including 678.5 688.2 9.8 0.15 3.08 5.67 32.0 0.51 4.57 7.50 11.90 3.74 6.13 9.73

KM-22-74 716.3 719.6 3.4 0.03 0.84 2.65 37.5 0.57 1.99 3.26 5.17 1.65 2.71 4.30

KM-22-75 690.7 692.8 2.1 0.23 0.25 0.84 9.3 0.22 0.83 1.36 2.15 0.71 1.17 1.86

KM-22-75 705.0 716.9 11.9 0.67 0.17 0.30 8.0 0.05 0.97 1.58 2.51 0.86 1.41 2.24

KM-22-75 723.1 731.7 8.5 0.31 0.50 1.27 11.6 0.09 1.21 1.99 3.16 1.03 1.69 2.69

KM-22-75 753.5 754.5 1.1 0.23 1.22 1.85 12.0 0.04 1.78 2.92 4.64 1.46 2.39 3.80

KM-22-76 no significant assays

KM-22-77 no significant assays

KM-22-78 no significant assays

KM-22-79 667.8 673.8 5.9 0.11 0.52 1.03 6.9 0.23 0.93 1.52 2.42 0.77 1.27 2.02

KM-22-79 681.8 689.8 7.9 2.12 1.38 3.14 47.2 0.27 4.61 7.55 11.98 4.00 6.55 10.40

KM-22-80 672.8 678.5 5.6 0.35 0.59 0.68 4.9 0.02 1.02 1.67 2.65 0.85 1.40 2.22

KM-22-80 702.9 705.9 3.0 0.13 0.04 0.99 1.0 0.01 0.54 0.89 1.41 0.49 0.81 1.28

KM-22-81 813.8 822.4 8.5 0.10 0.22 0.69 15.5 0.11 0.65 1.07 1.69 0.54 0.89 1.42

KM-22-81A 847.7 852.8 5.2 0.03 0.19 2.04 46.2 0.48 1.40 2.29 3.64 1.19 1.94 3.09

KM-22-81B 801.8 805.6 3.8 9.60 1.81 1.83 44.6 0.23 11.81 19.36 30.72 10.65 17.45 27.70

including 802.7 804.2 1.5 14.80 2.75 2.06 53.0 0.28 17.75 29.10 46.18 16.03 26.27 41.69

KM-22-81B 815.0 816.0 0.9 0.93 0.56 0.49 28.0 0.21 1.72 2.82 4.48 1.47 2.41 3.83

KM-22-81B 821.6 823.0 1.4 0.02 0.03 1.92 28.0 0.40 1.09 1.78 2.83 0.95 1.56 2.47

KM-22-81B 836.5 837.3 0.8 0.05 0.74 0.69 15.0 0.46 0.99 1.62 2.57 0.79 1.29 2.04

KM-22-81C 751.5 754.7 3.2 1.14 0.43 0.56 19.6 0.07 1.79 2.94 4.66 1.57 2.57 4.08

KM-22-81C 775.9 784.0 8.1 0.21 0.13 1.01 18.8 0.22 0.88 1.44 2.29 0.76 1.25 1.99

KM-22-81C 787.0 788.5 1.5 0.03 2.02 1.80 30.0 0.39 2.27 3.73 5.92 1.77 2.91 4.61

KM-22-82 226.5 228.0 1.5 0.14 0.07 1.58 5.4 0.53 0.95 1.55 2.46 0.85 1.40 2.22

KM-22-82 301.8 304.2 2.4 1.18 0.37 0.13 2.6 0.02 1.48 2.42 3.84 1.32 2.16 3.42

KM-22-83 no significant assays

KM-22-84 no significant assays

KM-22-85 no significant assays

KM-22-86 lost hole

KM-22-86A 545.9 546.6 0.7 0.14 0.51 0.14 16.0 0.26 0.69 1.14 1.80 0.54 0.89 1.41

KM-22-86A 563.7 564.8 1.1 0.04 1.11 0.05 13.0 0.11 0.86 1.42 2.25 0.63 1.03 1.63

KM-22-86A 565.6 566.7 1.1 0.05 0.15 0.92 25.9 0.43 0.80 1.30 2.07 0.67 1.10 1.74

KM-22-87 339.9 348.1 8.2 0.29 0.31 0.23 2.0 0.01 0.59 0.96 1.53 0.50 0.82 1.30

including 339.9 340.5 0.6 1.89 0.09 0.04 4.0 0.02 1.99 3.26 5.17 1.83 3.00 4.76

KM-22-88 344.7 345.6 0.9 2.84 0.07 0.06 2.0 0.02 2.93 4.80 7.61 2.71 4.44 7.04

KM-22-89 447.1 448.5 1.4 1.09 0.29 0.06 5.8 0.11 1.36 2.23 3.53 1.21 1.99 3.15

KM-22-90 no significant assays

KM-22-91 399.3 401.1 1.8 0.72 0.66 0.20 3.5 0.02 1.23 2.02 3.21 1.05 1.72 2.73

KM-22-92 no significant assays

KM-22-93 478.7 483.3 4.5 1.85 0.03 0.02 4.6 0.00 1.91 3.13 4.97 1.77 2.90 4.60

KM-22-93 506.6 508.6 2.0 1.63 0.01 0.01 2.2 0.00 1.66 2.72 4.32 1.54 2.52 4.01

KM-22-93 522.4 527.0 4.6 0.85 0.05 0.02 2.6 0.00 0.90 1.48 2.35 0.83 1.36 2.16

KM-22-93 615.1 616.3 1.2 2.85 0.04 0.06 5.0 0.00 2.94 4.81 7.64 2.72 4.45 7.07

KM-22-94 797.4 815.0 17.7 0.73 0.04 0.06 3.1 0.01 0.81 1.33 2.11 0.74 1.22 1.93

including 797.4 798.7 1.4 1.43 0.03 0.02 3.7 0.02 1.49 2.44 3.87 1.37 2.25 3.58

KM-22-94 829.4 832.6 3.2 0.54 0.75 0.48 6.9 0.06 1.25 2.05 3.26 1.05 1.71 2.72

KM-22-94 854.5 855.8 1.3 0.76 0.09 0.02 2.0 0.00 0.84 1.37 2.18 0.76 1.25 1.99

KM-22-94A 829.1 832.4 3.4 2.18 0.03 0.07 5.2 0.05 2.27 3.73 5.91 2.10 3.44 5.47

including 829.1 829.7 0.6 9.43 0.10 0.27 22.0 0.23 9.82 16.09 25.54 9.08 14.88 23.61

KM-22-94A 850.1 853.4 3.4 0.63 0.11 0.02 2.4 0.02 0.73 1.20 1.90 0.66 1.08 1.71

KM-22-94A 858.9 864.9 5.9 0.62 0.02 0.02 2.3 0.01 0.67 1.09 1.74 0.61 1.01 1.60

KM-22-94A 871.9 882.2 10.4 1.21 0.09 0.05 3.6 0.01 1.31 2.15 3.42 1.20 1.97 3.13

KM-22-95 432.8 435.6 2.7 0.22 0.12 0.61 4.1 0.02 0.57 0.94 1.48 0.50 0.83 1.31

KM-22-96 no significant assays

KM-23-97 512.2 521.0 8.8 2.87 2.24 2.65 27.7 0.31 5.54 9.08 14.41 4.78 7.83 12.43

including 516.1 517.7 1.6 8.12 3.67 2.33 61.2 0.14 11.76 19.28 30.60 10.31 16.91 26.83

including 516.8 517.2 0.4 17.10 4.59 0.40 59.0 0.08 20.54 33.67 53.43 18.36 30.09 47.75

KM-23-97 595.3 596.8 1.5 0.95 0.80 0.03 9.0 0.01 1.52 2.50 3.97 1.29 2.11 3.36

KM-23-98 255.7 258.8 3.0 0.53 0.13 0.11 3.5 0.01 0.69 1.12 1.78 0.61 1.00 1.59

KM-23-98 312.4 317.0 4.6 0.70 0.06 0.13 4.1 0.02 0.82 1.35 2.14 0.75 1.23 1.95

KM-23-98 342.9 347.2 4.3 0.75 0.33 0.06 3.3 0.01 1.00 1.64 2.60 0.88 1.44 2.28

KM-23-99 459.8 462.8 3.0 0.61 0.28 0.44 7.0 0.09 1.02 1.67 2.65 0.90 1.47 2.33

KM-23-99 508.3 517.9 9.6 0.04 0.59 0.74 2.0 0.03 0.70 1.15 1.82 0.56 0.92 1.47

KM-23-100 305.5 310.0 4.5 1.33 0.29 0.40 16.9 0.05 1.81 2.96 4.70 1.61 2.64 4.19

KM-23-100 366.1 367.9 1.8 0.39 0.06 0.29 3.8 0.06 0.58 0.95 1.51 0.52 0.86 1.36

KM-23-100 387.4 388.7 1.3 0.65 0.11 0.03 1.3 0.00 0.74 1.21 1.92 0.67 1.10 1.74

KM-23-101 670.1 672.4 2.3 0.79 0.83 0.01 2.9 0.00 1.33 2.17 3.45 1.11 1.82 2.89

KM-23-102 345.6 350.1 4.4 0.52 0.14 0.18 2.7 0.05 0.71 1.16 1.85 0.64 1.04 1.65

KM-23-103 386.3 396.9 10.5 ##### ##### ##### #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

including 387.9 390.6 2.7 0.86 8.21 16.08 42.5 1.39 12.69 20.80 33.01 10.51 17.22 27.33

including 392.9 394.4 1.5 7.55 1.82 2.62 26.0 0.14 9.90 16.23 25.76 8.90 14.59 23.15

KM-23-103 500.8 504.3 3.5 0.55 0.23 0.03 1.7 0.00 0.72 1.17 1.86 0.63 1.03 1.64

KM-23-104 anomalous Cu, Zn, Au, As, Na

KM-23-104A anomalous Zn, Au, As, Na

KM-23-105 553.2 560.5 7.3 0.22 2.87 4.90 202.8 1.46 5.79 9.49 15.06 4.61 7.56 12.00

including 557.5 559.5 2.0 0.57 6.05 8.26 418.8 1.58 11.11 18.20 28.89 8.74 14.32 22.73

KM-23-105 572.9 601.7 28.8 0.22 0.70 1.09 39.1 0.26 1.43 2.35 3.73 1.17 1.91 3.03

including 573.5 575.8 2.3 1.07 1.34 7.28 246.3 1.57 6.99 11.46 18.18 5.86 9.61 15.25

KM-23-106 476.3 501.2 25.0 0.37 1.61 3.68 33.4 0.90 3.23 5.30 8.41 2.71 4.44 7.04

including 491.0 494.2 3.2 1.13 3.86 8.53 63.5 1.03 7.50 12.29 19.51 6.29 10.30 16.35

including 500.3 501.2 0.9 0.43 15.15 2.70 272.0 3.62 13.67 22.40 35.55 10.10 16.55 26.26

KM-23-106 517.4 566.6 49.2 1.15 1.19 1.71 14.4 0.44 2.75 4.50 7.15 2.35 3.86 6.13

including 556.3 566.6 10.4 5.10 3.05 0.47 22.6 0.01 7.33 12.01 19.06 6.35 10.40 16.51

KM-23-106 576.1 581.3 5.2 0.02 1.37 0.61 20.5 0.24 1.31 2.14 3.40 0.99 1.62 2.57

KM-23-107 anomalous Zn, Au, As, Na

KM-23-108 anomalous Cu, Zn, Au, As, Na

KM-23-109 anomalous Zn, Au, As, Na

KM-23-110 anomalous Cu, Zn, Au, As, Na

KM-23-111 no significant assays

KM-23-112 no significant assays

KM-23-113 885.4 888.5 3.0 0.04 2.98 1.34 17.3 0.49 2.61 4.29 6.80 1.98 3.24 5.14

including 887.6 888.5 0.9 0.08 9.21 3.39 45.0 1.39 7.67 12.57 19.94 5.74 9.41 14.93

KM-23-114 351.3 373.4 22.1 0.21 0.30 0.57 10.6 0.09 0.72 1.17 1.86 0.60 0.99 1.57

including 351.3 352.4 1.1 0.42 0.73 2.00 27.1 0.28 1.91 3.12 4.96 1.61 2.65 4.20

including 366.4 368.8 2.4 0.62 0.45 0.57 17.6 0.10 1.27 2.09 3.31 1.09 1.79 2.83

KM-23-114 390.1 393.8 3.7 1.26 0.12 0.01 1.0 0.00 1.35 2.20 3.50 1.23 2.02 3.20

KM-23-114 406.5 408.4 1.9 0.94 0.08 0.02 1.6 0.00 1.01 1.65 2.62 0.92 1.51 2.40

KM-23-114 411.5 414.5 3.0 1.20 0.17 0.01 1.0 0.01 1.31 2.15 3.41 1.20 1.96 3.11

KM-23-114 438.9 446.5 7.6 0.58 0.16 0.04 1.5 0.00 0.70 1.15 1.83 0.63 1.03 1.63

KM-23-115 488.1 571.8 83.7 0.38 1.19 3.00 34.8 0.48 2.64 4.33 6.88 2.22 3.64 5.77

including 494.2 509.5 15.3 0.91 0.85 6.08 54.9 0.95 4.41 7.23 11.48 3.86 6.33 10.05

including 529.7 536.6 6.9 0.53 2.88 6.44 52.4 0.77 5.35 8.76 13.91 4.45 7.30 11.58

including 556.3 563.3 7.0 0.12 1.65 6.04 69.4 1.21 4.26 6.98 11.08 3.58 5.88 9.32

including 568.8 571.8 3.0 1.03 5.87 2.70 14.5 0.04 5.77 9.46 15.00 4.51 7.39 11.72

KM-23-116 307.2 309.1 1.8 0.38 1.27 1.76 29.6 0.41 2.16 3.53 5.61 1.77 2.90 4.60

KM-23-116 322.5 344.4 21.9 0.78 0.58 0.75 9.3 0.15 1.53 2.50 3.97 1.32 2.16 3.43

including 322.5 323.9 1.4 4.58 1.32 1.65 35.0 0.26 6.35 10.41 16.52 5.66 9.27 14.71

KM-23-116 362.6 367.0 4.4 0.11 0.35 0.90 12.4 0.17 0.80 1.32 2.09 0.67 1.10 1.75

KM-23-117 539.2 604.8 65.6 0.44 1.14 2.88 24.7 0.43 2.53 4.15 6.59 2.14 3.51 5.57

including 574.4 580.1 5.7 0.53 2.42 6.36 29.2 0.51 4.79 7.85 12.46 4.04 6.62 10.51

including 588.4 591.6 3.2 0.50 8.14 12.58 97.4 1.77 11.46 18.79 29.81 9.29 15.23 24.18

including 602.6 604.3 1.7 0.24 3.96 11.36 135.3 1.78 8.49 13.91 22.07 7.05 11.56 18.35

KM-23-117 612.7 618.1 5.4 0.25 3.57 2.76 69.7 0.62 4.18 6.85 10.87 3.26 5.34 8.47

including 614.4 614.9 0.5 1.35 21.90 7.19 162.0 0.26 18.82 30.84 48.95 14.13 23.16 36.75

KM-23-117 677.6 680.3 2.7 0.93 0.20 0.11 2.3 0.00 1.11 1.82 2.90 1.00 1.64 2.61

KM-23-118 932.4 934.2 1.8 0.00 2.56 0.01 1.0 0.00 1.57 2.58 4.10 1.10 1.81 2.87

KM-23-118 1111.3 1112.8 1.5 0.01 2.94 0.02 1.0 0.00 1.82 2.98 4.73 1.28 2.09 3.32

KM-23-119 318.2 327.4 9.2 0.62 0.33 0.71 10.1 0.08 1.19 1.95 3.10 1.04 1.71 2.71

including 324.2 325.8 1.6 2.27 0.69 1.03 9.1 0.06 3.17 5.20 8.25 2.83 4.64 7.37

KM-23-120 326.0 328.9 2.9 0.85 0.74 1.16 22.4 0.16 1.97 3.22 5.12 1.68 2.76 4.38

KM-23-120 337.0 339.6 2.6 0.80 0.68 0.22 8.1 0.08 1.38 2.26 3.59 1.17 1.92 3.05

KM-23-120 379.5 381.3 1.8 0.15 1.41 1.84 8.8 0.15 1.82 2.99 4.74 1.47 2.42 3.84

KM-23-121 299.8 301.6 1.8 0.16 1.73 0.98 58.3 0.40 2.15 3.52 5.59 1.65 2.71 4.30

KM-23-121 308.2 314.4 6.3 0.30 0.42 0.36 11.8 0.07 0.80 1.31 2.08 0.66 1.09 1.73

KM-23-121 363.0 365.5 2.4 0.49 0.13 0.03 2.9 0.01 0.60 0.99 1.56 0.54 0.88 1.40

KM-23-122 386.1 418.2 32.1 0.69 0.60 0.84 15.5 0.15 1.54 2.53 4.01 1.32 2.16 3.43

including 388.3 392.9 4.6 3.28 0.75 1.36 21.7 0.12 4.46 7.31 11.60 4.00 6.56 10.40

KM-23-123 339.9 368.0 28.1 0.43 0.51 0.73 11.6 0.13 1.15 1.89 2.99 0.98 1.60 2.54

including 357.1 361.2 4.1 1.47 1.25 1.87 26.8 0.34 3.24 5.32 8.44 2.79 4.57 7.25

KM-23-124 376.1 392.6 16.5 0.54 0.31 0.47 5.6 0.04 0.96 1.58 2.50 0.84 1.38 2.18

KM-23-124 417.6 423.4 5.8 0.07 0.54 0.70 22.4 0.13 0.87 1.43 2.27 0.69 1.14 1.81

KM-23-125 337.1 343.2 6.1 0.44 0.62 1.67 12.6 0.13 1.59 2.60 4.13 1.36 2.23 3.54

KM-23-125 353.1 363.5 10.4 0.55 0.87 1.43 20.5 0.19 1.83 3.01 4.77 1.54 2.53 4.01

KM-23-126 347.3 357.8 10.5 0.81 0.16 0.29 8.4 0.02 1.09 1.79 2.84 0.98 1.60 2.54

KM-23-126 452.0 455.1 3.1 0.57 0.04 0.44 15.0 0.21 0.93 1.52 2.41 0.83 1.36 2.15

KM-23-127 345.0 370.6 25.6 0.32 0.82 1.34 18.2 0.23 1.53 2.51 3.98 1.27 2.08 3.30

including 346.6 348.1 1.5 0.68 3.10 7.40 99.0 1.91 6.62 10.86 17.23 5.52 9.04 14.35

KM-23-128 378.1 399.6 21.5 0.29 0.53 1.27 20.5 0.24 1.32 2.16 3.43 1.11 1.82 2.89

including 378.1 382.2 4.1 0.73 1.58 3.81 58.9 0.68 3.78 6.19 9.83 3.17 5.20 8.26

KM-23-129 no significant assays

KM-23-130 no significant assays

KM-23-132 378.1 404.5 26.4 0.84 0.90 1.77 12.1 0.22 2.21 3.63 5.76 1.90 3.12 4.95

including 389.6 392.0 2.4 3.18 1.09 1.39 18.6 0.10 4.55 7.45 11.82 4.04 6.62 10.50

including 398.7 401.5 2.7 2.12 2.72 3.04 25.2 0.37 5.23 8.57 13.60 4.42 7.25 11.51

KM-23-133 362.6 384.7 22.1 0.34 0.14 0.57 8.8 0.07 0.72 1.19 1.88 0.64 1.04 1.66

KM-23-133 395.2 408.0 12.8 0.48 1.75 0.98 38.0 0.12 2.26 3.70 5.87 1.78 2.93 4.64

including 407.5 408.0 0.5 7.12 28.70 0.99 564.0 0.00 29.49 48.33 76.70 22.45 36.80 58.40

KM-23-135 424.6 425.8 1.2 0.05 0.60 3.81 68.0 1.24 2.70 4.42 7.01 2.29 3.75 5.95

Analyzed Grade Analyzed Metal Equivalent Metal Equivalent

Table 4. Results of Phase 1 Drill Program at the Kay Deposit, Yavapai County, Arizona. See Table 1 for width and

metal equivalency notes.

About Arizona Metals Corp

Arizona Metals Corp owns 100% of the Kay Mine Project 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

Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Cu eq % Au eq g/t Zn eq% Cu eq % Au eq g/t Zn eq%

KM-20-01 275.8 281.5 5.6 0.57 0.48 1.20 11.6 0.18 1.70 1.61 4.51 1.26 2.06 3.28

including 275.8 276.5 0.6 0.50 1.22 5.04 32.0 0.73 4.23 4.01 11.22 3.09 5.07 8.04

including 279.8 281.5 1.6 1.21 0.98 1.49 22.6 0.23 3.10 2.94 8.22 2.24 3.68 5.84

KM-20-02 297.8 300.8 3.0 0.77 0.20 0.04 1.4 0.01 1.01 0.96 2.69 0.83 1.35 2.15

KM-20-03 256.3 259.1 2.7 3.40 1.01 0.65 69.6 0.09 5.41 5.13 14.35 4.24 6.95 11.03

including 256.3 257.3 0.9 7.42 1.79 1.11 56.0 0.17 10.32 9.78 27.37 8.41 13.79 21.88

KM-20-03 292.2 292.6 0.5 2.43 0.19 0.15 2.0 0.04 2.72 2.57 7.20 2.41 3.95 6.27

KM-20-03 295.4 295.8 0.5 1.35 0.80 0.91 6.0 0.06 2.61 2.47 6.92 1.96 3.22 5.11

KM-20-03A 252.4 256.9 4.6 3.70 2.55 0.27 35.6 0.03 6.85 6.49 18.15 4.84 7.93 12.58

including 252.4 253.1 0.8 9.74 6.34 0.40 164.0 0.11 18.19 17.24 48.23 12.87 21.09 33.47

KM-20-04 no significant assays

KM-20-05 266.6 269.0 2.4 6.47 1.94 0.57 43.3 0.14 9.19 8.71 24.37 7.32 12.00 19.05

including 266.6 267.8 1.2 10.60 2.21 1.05 50.0 0.26 13.89 13.16 36.83 11.51 18.86 29.93

KM-20-06 267.9 281.5 13.5 1.02 0.85 1.23 45.6 0.30 2.92 2.77 7.75 1.99 3.27 5.19

including 267.9 268.4 0.5 1.54 2.20 6.10 31.0 0.81 6.73 6.38 17.85 4.87 7.98 12.66

including 276.6 281.5 4.9 1.86 0.87 1.96 92.1 0.42 4.54 4.30 12.04 3.40 5.58 8.85

including 280.0 281.0 1.1 3.22 1.03 0.64 340.0 0.04 7.82 7.41 20.74 5.61 9.20 14.60

KM-20-07 no significant assays

KM-20-08 abandoned, off target

KM-20-09 588.1 588.4 0.3 0.91 1.74 1.86 15.0 0.40 3.72 3.52 9.86 2.41 3.95 6.26

KM-20-09 613.4 614.1 0.7 0.90 1.81 1.04 10.0 0.08 3.32 3.15 8.81 2.05 3.36 5.33

KM-20-09 614.6 614.9 0.3 2.64 0.36 0.98 19.0 0.10 3.60 3.41 9.54 3.08 5.05 8.01

KM-20-09 632.8 638.9 6.1 0.12 4.18 8.02 41.7 0.82 8.23 7.80 21.83 5.13 8.42 13.35

including 633.6 637.9 4.4 0.15 5.46 9.06 33.1 0.50 9.81 9.29 26.00 5.96 9.77 15.50

including 636.9 637.9 1.1 0.17 9.77 14.65 68.0 0.78 16.92 16.03 44.86 10.06 16.48 26.15

KM-20-10 563.6 568.5 4.9 2.39 2.16 3.27 24.9 0.31 6.24 5.92 16.55 4.50 7.38 11.71

including 563.6 566.6 3.0 3.66 2.42 3.16 28.2 0.32 7.78 7.38 20.64 5.78 9.47 15.03

including 567.2 568.5 1.2 0.33 2.52 5.10 28.4 0.43 5.33 5.05 14.12 3.43 5.63 8.93

KM-20-10 574.2 574.9 0.6 0.12 4.33 11.30 113.0 0.16 10.09 9.56 26.75 6.63 10.87 17.26

KM-20-10 577.7 579.3 1.6 0.03 0.70 4.38 45.9 0.68 3.09 2.93 8.20 2.27 3.72 5.91

KM-20-10 582.3 583.1 0.8 0.03 0.42 2.90 51.0 1.07 2.42 2.29 6.40 1.73 2.84 4.51

KM-20-10A 521.2 522.5 1.3 2.13 1.27 7.46 51.1 0.91 7.07 6.70 18.75 5.63 9.23 14.64

KM-20-10A 527.9 538.6 10.7 1.32 1.66 2.58 27.2 0.30 4.40 4.17 11.66 3.06 5.01 7.96

including 527.9 529.4 1.5 6.69 0.92 1.62 30.2 0.07 8.59 8.14 22.77 7.38 12.09 19.19

including 532.2 535.3 3.1 0.72 1.75 2.99 34.3 0.42 4.17 3.95 11.07 2.76 4.52 7.18

including 537.2 538.6 1.4 0.16 7.29 9.06 79.2 0.60 12.24 11.60 32.44 7.04 11.54 18.31

KM-20-10B 503.0 530.7 27.6 0.87 0.97 1.76 21.3 0.32 2.87 2.72 7.61 2.03 3.33 5.29

including 503.0 509.6 6.6 1.78 1.55 2.55 29.8 0.37 4.79 4.54 12.70 3.46 5.68 9.01

including 513.9 518.3 4.4 1.08 1.89 4.05 47.4 0.68 5.29 5.01 14.02 3.65 5.99 9.50

including 527.2 530.7 3.5 1.91 2.32 3.93 52.9 0.99 6.68 6.33 17.72 4.66 7.63 12.11

KM-20-10C 523.9 530.7 6.8 0.58 3.32 5.84 102.0 1.15 7.65 7.25 20.28 4.83 7.92 12.57

including 523.9 528.2 4.3 0.88 4.89 7.61 125.2 1.45 10.60 10.05 28.11 6.60 10.82 17.17

including 525.6 526.4 0.8 0.52 16.65 21.40 214.0 2.76 29.15 27.62 77.29 16.94 27.76 44.05

KM-20-11 554.1 556.9 2.7 4.14 2.83 3.56 70.0 0.28 9.23 8.75 24.48 6.77 11.10 17.61

KM-20-12 371.9 376.7 4.9 3.99 0.37 0.62 12.4 0.07 4.76 4.51 12.61 4.18 6.84 10.86

including 371.9 373.7 1.9 8.49 0.67 1.53 28.0 0.16 10.10 9.57 26.77 8.91 14.61 23.19

KM-20-12 379.5 404.2 24.7 0.73 0.08 0.08 2.3 0.01 0.87 0.82 2.30 0.77 1.27 2.01

KM-20-12 371.9 404.2 32.3 1.19 0.12 0.14 3.8 0.01 1.35 2.20 3.50 1.23 2.01 3.19

including 372.7 376.7 4.1 4.80 0.44 0.75 14.9 0.08 5.50 9.01 14.30 5.02 8.23 13.06

KM-20-13 443.6 486.8 43.1 1.68 1.26 1.67 23.3 0.24 3.94 3.73 10.45 2.87 4.71 7.47

including 444.4 459.6 15.2 3.42 1.80 2.36 38.5 0.39 6.71 6.36 17.80 5.09 8.33 13.23

including 444.4 447.1 2.7 1.02 3.74 10.64 55.0 1.88 10.14 9.61 26.89 7.00 11.47 18.20

including 451.4 455.8 4.4 8.41 1.18 0.16 65.3 0.02 10.34 9.80 27.42 8.75 14.35 22.77

KM-20-14 421.7 461.6 39.9 1.47 1.00 1.67 18.4 0.19 3.40 3.22 9.00 2.53 4.15 6.58

including 426.3 429.8 3.5 9.56 1.28 0.95 30.0 0.07 11.58 10.98 30.71 9.96 16.32 25.91

including 457.2 460.7 3.5 0.36 2.58 8.33 26.3 0.38 6.61 6.26 17.52 4.61 7.55 11.99

KM-20-14A 404.6 409.0 4.4 1.67 1.48 2.50 79.2 0.41 5.07 4.80 13.44 3.60 5.90 9.37

including 404.6 406.4 1.7 4.08 2.46 5.02 173.6 0.53 10.41 9.87 27.61 7.72 12.65 20.07

KM-20-14A 421.0 443.5 22.5 0.86 0.72 1.51 15.9 0.18 2.41 2.28 6.38 1.77 2.90 4.60

including 421.0 421.8 0.8 9.81 2.91 1.69 45.0 0.19 14.01 13.28 37.15 11.26 18.45 29.28

including 421.0 425.0 4.1 3.23 1.14 1.30 21.4 0.14 5.17 4.90 13.71 4.10 6.72 10.66

KM-20-15 506.8 510.1 3.3 0.05 0.33 3.73 192.0 1.75 4.24 4.02 11.25 2.95 4.84 7.68

KM-20-16 480.4 518.8 38.4 0.85 0.81 2.24 24.3 0.25 2.87 2.72 7.61 2.12 3.47 5.51

including 480.4 492.9 12.5 1.63 1.98 4.23 48.5 0.50 5.95 5.64 15.78 4.23 6.94 11.02

including 480.4 483.4 3.0 2.40 4.74 7.49 77.9 0.91 11.29 10.70 29.93 7.53 12.35 19.60

including 489.8 492.9 3.0 3.61 2.59 6.90 100.7 0.92 10.22 9.68 27.10 7.66 12.55 19.92

Analyzed Grade Analyzed Metal Equivalent Metal Equivalent