Arizona Metals Intersects 29.6 m @ 10.7 g/t AuEq in Kay2 Zone and Drills Third-Highest Gold Assay on the Kay Mine Project
Arizona Metals Intersects 29.6 m @ 10.7 g/t AuEq in Kay2 Zone
and Drills Third-Highest Gold Assay on the Kay Mine Project
Toronto, June 24, 2025 – Arizona Metals Corp. (TSX:AMC, OTCQX:AZMCF) (the “Company”
or “Arizona Metals”) is pleased to announce assay results from one drill hole in the Kay2 Zone at
the Kay project in Arizona.
Drill hole KM -25-181 intersected 29.6 m @ 10.7 g/t AuEq, including 13.6 m @ 17.8 g/t AuEq
(Figure 1, Table 1). Drill hole 181 is among the most gold-rich holes drilled in the deposit to date,
and includes the project’s third-highest gold assay from drilling: 35.8 g/t Au (756.2-757.1 m). The
hole is located approximately 90 m below and deeper in the deposit than hole KM-24-166, the
discovery hole in the Kay2 Zone. This is a significant intercept and will be incorporated in the
upcoming Mineral Resource Estimate (“MRE”).
Duncan Middlemiss, President and CEO of Arizona Metals, comments: “The high gold grades in
the Kay2 Zone continue to indicate a robust mineralized system at Kay and illustrate additional
potential for the Kay2 Zone to add value to the overall deposit. Results from hole 181 wil l be
included in the upcoming mineral resource estimate for the Kay project , which remains on track
for release this month.”
To date, drilling in the Kay2 Zone has demonstrated dimensions of 100 m along strike and 160 m
vertically, with consistently high gold grades throughout. The Kay2 Zone is located approximately
100 m north of previously drilled mineralization in the Kay deposit. With the completion of recent
drill holes, Arizona Metals has drilled a total of 135,000 meters on the property.
The Company is fully funded and on track to deliver a Mineral Resource Estimate this month,
followed by a Preliminary Economic Assessment (“PEA”) in the second half of 2025, for its Kay
Mine project (the “Kay Project”) located in Yavapai County, Arizona. G Mining Services Inc. (“G
Mining”) has been engaged to audit the MRE and complete the PEA. The current phase of resource
drilling is complete, and the Company has mobilized the two drill rigs to the Kay North Extension
target, to be followed by drilling on the North-Central and Western Targets. These areas will be
drilled for the first time from newly-permitted and strategically-positioned drill pads, designed to
optimize targeting and access. The Company plans 10,000 m of exploration drilling at these targets
with holes ranging from 300 m to 900 m in depth. The Company has chosen these high-priority
targets based on analysis of geologic, geochemical, and geophysical exploration data generated to
date on the project.
Additionally, 5,000 m of reverse circulation drilling is planned at the Company’s Sugarloaf Peak
Gold Project (the “Sugarloaf Peak Project”) in La Paz County, Arizona. Drilling and road -
construction contractors have been chosen for the project, and the Company is preparing to
mobilize crews during Q3. The Company is executing on all of its previously-stated goals for
2025 and looks forward to continuing the development of the Company’s strong assets.
Table 1. Results of Phase 3 Drill Program at the Kay Project, Yavapai County, Arizona announced in this news release.
Analyzed Grade
Analyzed Metal
Equivalent
Metal Equivalent
Hole ID
From
m To m
Length
m
Cu
%
Au
g/t
Zn
%
Ag
g/t
Pb
%
CuEq
%
AuEq
g/t
ZnEq
%
CuEq
%
AuEq
g/t
ZnEq
%
KM-25-181 734.7 764.3 29.6 0.74 8.51 5.23 47.0 0.50 8.43 13.81 21.92 6.54 10.72 17.01
including 750.7 764.3 13.6 1.46 13.88 8.79 38.7 0.47 13.72 22.49 35.69 10.71 17.56 27.86
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 .20/oz Silver, $1.78/lb Zinc, and
$1.02/lb Pb. Metal Equivalent calculations used assumed metal recoveries, based on a preliminary review of historic data by SRK and ProcessIQ,
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 (%) (93% rec.) + (Gold (g/t) x 0.61)(70% rec.) + (Silver (g/t) x 0.0079)(72% rec.) + (Zinc (%) x 0.3844)(92% rec.) + (Lead (%) x
0.2203)(90% rec.). The following equation was used to calculate gold equivalence: AuEq = Gold (g/t)(70% rec.) + (Copper (%) x 1.638)(93% rec.)
+ (Silver (g/t) x 0.01291)(72% rec.) + (Zinc (%) x 0.6299)(92% rec.) +(Lead (%) x 0.3609)(90% 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.
Figure 1. Oblique section looking northeast, displaying new drill holes reported in this release. See Table 1 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 Au Eq g/t and CuEq % calculations. Analyzed
Metal Equivalent calculations are reported for illustrative purposes only.
About Arizona Metals Corp
Arizona Metals Corp owns 100% of the Kay 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. 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 Project was reported by Exxon Minerals in 1982. (Fellows, M.L.,
1982, Kay Mine massive sulphide deposit: Internal report prepared for Exxon Minerals Company)
The Kay Project’s 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 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 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 Company also owns 100% of the Sugarloaf Peak Project, in La Paz County, which is located
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 historic 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 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 Phoenix 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, 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 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 d etermined 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 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 supervised the
drill program and verified the d ata 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 the expansion potential of the Kay Project, statements regarding
drill results and future dr illing of the Kay2 Zone , the main Kay deposit and expansion drilling
targets on the Kay Project, statements regarding Kay2 Zone mineralization, statements regarding
Kay2 Zone mineralization and the contribution of the Kay2 Zone mineralization to the mineral
resource estimate for the Kay deposit, and the mineral resource estimate being completed in H1
2025 or at all, statements regarding drilling and other exploration activity on the Sugarloaf Peak
Gold Project, statements regarding completion of a PEA in H2 2025 or at all, 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 fut ure 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 sh ould 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 in formation, future events,
changes in assumptions, changes in factors affecting such forward - looking statements or
otherwise.
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