Announces Private Placement

Arizona Silver Exploration Inc.

Suite 303, 595 Howe Street, Vancouver, B.C. V6C 2T5

Phone: (604) 833-4278 Fax: (604) 718-2808

{5235-001/01475505.DOC.2}

ARIZONA SILVER EXPLORATION INC.

ANNOUNCES PRIVATE PLACEMENT

Vancouver, BC, February 23, 2017 – Arizona Silver Exploration Inc. (TSX-V: AZS) (the " Company") is

pleased to announce a non-brokered private placement of up to 7,500,000 common shares (the

“Shares”) at a price of $0.20 per Share for gross proceeds of up to $1,500,000 (the “ Private

Placement”).

The proceeds of the Private Placement will be used for the further exploration of the Ramsey Silver

Mine in La Paz County, Arizona, and for general working capital purposes.

The Company may pay finders’ fees in connection wi th the Private Placement, subject to compliance

with the policies of the TSX Venture Exchange (the “TSXV”).

All securities issued in connection with the Private Placement will be subject to a statutory hold period

of four months plus a day from the date of issuance in accordance with applicable securities legislation.

Closing of the Private Placement is subject to the approval of the TSXV.

The securities described herein h ave not been registered under the U.S. Securities Act of 1933, as

amended, and may not be offered or sold in the United States unless registered under the Act or unless

an exemption from registration is available

ARIZONA SILVER EXPLORATION INC.

Mike Stark, Director

Contact: Mike Stark, Director (604) 833-4278

Neither the TSX Venture Exchange nor its Regulation Services Pr ovider (as that term is defined in the policies of the

TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the TSX Venture

Exchange has in no way passed upon the merits of the transactions herein.

Statements regarding the Company which are not historical facts are "forward-looking statements" that involve risks

and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as

"may", "expect", "estimate", "anticip ate", "intend", "believe" and "continue" or the negative thereof or similar

variations. Since forward-looking statements address future events and conditions, by their very nature, they involve

inherent risks and uncertainties. Actual results in each cas e could differ materially from those currently anticipated

in such statements due to factors such as: (i) the completion of the Private Placement and (ii) the delay or failure to

receive regulatory approvals. Except as required by law, the Company does not intend to update any changes to such

statements.