Arizona Metals Sugarloaf Peak Drill Results Deliver Continued Expansion Potential and Confirm Continuity
Arizona Metals Sugarloaf Peak Drill Results
Deliver Continued Expansion Potential and Confirm Continuity
Toronto, January 13, 2026 – Arizona Metals Corp. (TSX:AMC, OTCQX:AZMCF) (the
“Company” or “Arizona Metals”) is pleased to announce the second round of results from its
2025 reverse -circulation drill program on the Company’s Sugarloaf Peak Gold Project (the
“Sugarloaf Peak Project”) in Arizona. These drill results continue to expand the deposit laterally
to the southwest, along strike both northwest and southeast , and at depth. They also confirm
excellent continuity within the deposit. Highlights of the drilling include:
• SP-25-18: 199.6 m @ 0.29 g/t Au, including 15.2 m @ 0.54 g/t Au and 12.2 m @ 0.61 g/t Au.
This long drill intercept confirmed the continuation of mineralization in a large area of sparse
drill holes in the eastern portion of the deposit. These results warrant additional drilling in this
area.
• SP-25-14: 89.9 m @ 0.32 g/t Au and 93.0 m @ 0.45 g/t Au. This hole is located in an undrilled
portion in the center of the deposit and demonstrated excellent continuity among other
encouraging drill holes. This drill hole includes the highest gold assay to date in the Company’s
drilling, 12.57 g/t Au over 1.5 m (173.7-175.3 m), indicating good potential for higher grade
within the deposit.
• SP-25-17: 51.8 m @ 0.31 g/t Au, 27.4 m @ 0.30 g/t Au, and 27.4 m @ 0.24 g/t Au. Stepping
out 120 m to the south of previous drilling, this hole, together with SP -25-15, extended the
deposit laterally to the southwest along 350 m of strike length. The Company’s nine drill holes
in this area have added a broad swath along the southwestern part of the deposit that measures
approximately 135 m wide and stretches along almost a kilometer of northwest-southeast strike
length. A tenth hole in this area is pending assays.
• SP-25-21: 62.5 m @ 0.22 g/t Au and 38.1 m @ 0.32 g/t Au. Hole 21 extended mineralization
135 m west of previous drilling, indicating excellent expansion potential for the deposit to the
west.
Mineralization was intersected in the majority of drill holes and succeeded in expanding the
deposit and demonstrating good continuity between widely spaced previous drill holes. Assay
results from the remaining 6 drill holes are pending. The total drilling to date on the project, in
2025 and 2026, comprises 5,186 m drilled in 25 reverse-circulation drill holes.
Duncan Middlemiss, President and CEO of Arizona Metals commented: “We are very encouraged
by the continued expansion potential at Sugarloaf Peak. The results from this drill program have
delivered a meaningful increase in the scale of the deposit, with strong continuity demonstrated
along a broad southwest corridor where mineralization remains open and highly prospective .
With six additional drill holes pending at the lab and active exploration underway to refine and
prioritize further step -out targets, we believe Sugarloaf is well positioned for continued growth
through additional drilling later this year.”
Additional drill results are as follows:
• SP-25-16: 30.5 m @ 0.23 g/t Au. Drilled to the southwest at the same location as SP-25-17
(which was drilled to the northeast) this hole contributed to the southwesterly expansion of
the deposit.
• SP-25-20: 19.8 m @ 0.37 g/t Au and SP-25-19: 13.7 m @ 0.37 g/t Au. These holes were
drilled from the same pad, hole 19 to the southwest and hole 20 to the northeast. Together,
they confirm mineralization expanding to the southwest of previous drilling.
Table 1. Results of drill program at the Sugarloaf Peak Project, La Paz County, Arizona announced in this news
release, including the depth of oxidized mineralization encountered in each hole.
The true width of mineralization has not been determined at this time.
Figure 1. Oblique view of drilling at Sugarloaf Peak looking north,
highlighting the drill results announced in this press release.
Q1 2026 Corporate Update
The Company is fully funded and on track to deliver a Preliminary Economic Assessment (“PEA”)
in the first quarter of 2026, for its Kay Mine project (the “Kay Project”) located in Yavapai County,
Arizona. Ongoing exploration drilling throughout the first quarter is planned with 2,000 m at the
Kay Project. After encouraging current drilling results at the Sugarloaf Peak Project, the Company
is conducting a comprehensive, detailed program to evaluate current data and gather additional
modern exploration data, including geophysics (IP -resistivity, magnetics, radiometrics),
geochemistry (surface rock-sample grid, hyperspectral airborne survey) and AI studies. The intent
of the planned exploration program is to integrate all past data with new, consistent, deposit-wide
data in order to optimize drill spending later in 2026.
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 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 verificat ion may be required by a Qualified Person (as defined
below) 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.
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 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 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 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 was 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 ( “Qualified Person”) as defined in National Instrument 43-101 –
Standards of Disclosure for Mineral Projects (“NI 43-101”). 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. A ny
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 completion and filing of the Company’s PEA on the Kay
Project, 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 2026 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 inherently uncertain,
involves subjective judg ement 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. “Inferred” Mineral Resources have
a lower level of confidence than that applied to an “Indicated” Mineral Resource and must not be
converted to a Mineral Reserve. 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 inter pretation, 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 M ineral Reserves ( the “CIM
Standards”) in accordance with 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 information made public by U.S. companies
subject to the reporting and disclosure requirements under the United States federal securities
laws and the rules and regulationsTHE 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