Arizona Gold & Silver Announces Over-Allotment to Oversubscribed Private Placement with Additional Interest from Significant Mining Industry Participant
NEWS RELEASE
NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES
Arizona Gold & Silver Announces Over-Allotment to Oversubscribed Private
Placement with Additional Interest from Significant Mining Industry Participant
Vancouver, British Columbia, September 30, 2024 – Arizona Gold & Silver Inc. (TSXV:
AZS) (OTCQB:AZASF) The Company is pleased to announce that due to investor demand, the size of its
non-brokered private placement (“ Private Placement”) previously announced on September 18, 2024 has
been increased to 15,425,090 units from 10,000,000 Units of the Company (each a “ Unit”) at a price of
CAD$0.30 with total proceeds of CAD$ 4,627,527.10. Each Unit will consist of one common share and one
transferable share purchase warrant (each whole warrant, a “ Warrant”). Each warrant will entitle the holder
to purchase one additional common share in the capital of the Company (a “Warrant Share”) for a period of
36 months from the date of issue at an exercise price of CAD$0.40 per Warrant Share.
It is expected that certain directors and officers of the company will participate in the private placement and
are related parties within the meaning of Multilateral Instrument 61 -101 -- Protection of Minority Security
Holders in Special Transactions of t he Canadian Securities Administrators. The participation of certain
directors and officers in the private placement will constitute a related party transaction under MI 61-101. The
company intends to rely upon exemptions from the formal valuation and minor ity approval requirements of
MI 61-101.
All securities issued under the private placement will be subject to a hold period of four months and one day
from the closing date. The Company may pay finders' fees in cash. The private placement and finders' fees are
subject to regulatory approval.
Net proceeds of the private placement will be used for project exploration and general working capital
purposes.
Please refer to our web site for all news and updated property information:
https://arizonagoldsilver.com/
About Arizona Gold & Silver Inc.
Arizona Gold is a young exploration company focused on exploring gold-silver properties in western Arizona
and Nevada. The flagship asset is the Philadelphia gold-silver property where the Company is drilling off an
epithermal gold-silver system.
On behalf of the Board of Directors:
ARIZONA GOLD & SILVER INC.
Mike Stark, President and CEO, Director
Phone: (604) 833-4278
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This news release includes certain forward -looking statements or information. All statements other than
statements of historical fact included in this release are forward-looking statements that involve various risks
and uncertainties. Forward-looking statements in this news release include statements in relation to the timing,
cost and other aspects of the 2024-2025 exploration program; the potential for development of the mineral
resources; the potential mineralization and geological merits of the exploration properties; and other future
plans, objectives or expectations of the Company. There can be no assurance that such statements will prove
to be accurate and actual results and future events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ materially from the Company's plans or
expectations include the risk that actual results of current and planned exploration activities, including the
results of the Company's 2024-2025 drilling program(s) on its pro perties, will not be consistent with the
Company's expectations; the geology, grade and continuity of any mineral deposits and the risk of unexpected
variations in mineral resources, grade and/or recovery rates; fluctuating metals prices; possibility of accidents,
equipment breakdowns and delays during exploration; exploration cost overruns or unanticipated costs and
expenses; uncertainties involved in the interpretation of drilling results and geological tests; availability of
capital and financing required to continue the Company's future exploration programs and preparation of
geological reports and studies; delays in the preparation of geological reports and studies; the metallurgical
characteristics of mineralization contained wi thin the exploration properties are yet to be fully determined;
general economic, market or business conditions; competition and loss of key employees; regulatory changes
and restrictions including in relation to required permits for exploration activities (including drilling permits)
and environmental liability; timeliness of government or regulatory approvals; and other risks detailed herein
and from time to time in the filings made by the Company with securities regulators. In connection with the
forward-looking information contained in this news release, the Company has made numerous assumptions,
including that the Company's 2024 - 2025 programs would proceed as planned and within budget. The
Company expressly disclaims any intention or obligation to upd ate or revise any forward-looking statements
whether as a result of new information, future events or otherwise, except as otherwise required by applicable
securities legislation.