Arizona GOLD & Silver Inc. Reports Exceptional GOLD Extractions ON Leach Tests from the Philadelphia GOLD-Silver Project, Arizona
NEWS RELEASE
ARIZONA GOLD & SILVER INC. REPORTS EXCEPTIONAL GOLD EXTRACTIONS ON
LEACH TESTS FROM THE PHILADELPHIA GOLD-SILVER PROJECT, ARIZONA
Vancouver, British Columbia , May 23, 2024 – Arizona Gold & Silver Inc . (TSXV:
AZS) (OTCQB:AZASF) is pleased to announce 90% to +99% gold extractions from agitation cyanide leach
tests on two bulk samples from the Philadelphia Gold-Silver Property, Arizona. The results demonstrate the
ready amenability of the feed material for cyanide gold extraction.
Initial agitation leach tests were performed by McClelland Laboratories in Sparks, Nevada on two bulk samples
of material. The objective was to assess the amenability of the material to conventional milling and cyanidation
leaching. The leach tests demonstrated gold recoveries of 90.6% to greater than 99.3% for all milled feed sizes.
Leach kinetics were faster at the finer feed sizes and ultimate gold recoveries were greatest at the finer feed
sizes. Cyanide and lime consumption was low in all tests. Lime addition average d 1 kilogram per tonne .
Cyanide consumption averaged less than 0.1 kilogram per tonne.
Mr. Greg Hahn, VP Exploration commented, “These excellent results demonstrate the ready amenability of
the feed material to milling/cyanidation treatment at different feed sizes, and the potential for heap leaching.
They represent an important milestone for the Project.”
Agitation Leach Test Results
A total of four agitation leach (bottle roll) tests each were conducted from the two bulk samples at feed sizes
ranging from 80% passing -425 microns, -212 microns, -150 microns, and -106 microns. The milling tests on
these samples were performed at a cyanide concentration of 1.0 gram per liter for a leach cycle of 120 hours.
Additionally, samples at -1.7mm feed size were performed at varying cyanide concentrations for a 72 -hour
leach cycle to assess the sensitivity of gold extraction to cyanide strength for consideration of heap leach test
work.
Agitation leach tests on -1.7mm for a 72 -hour cycle demonstrated gold recoveries of 72.7% to 73.6% at a
cyanide strength of 1.0 gram per liter . These tests provide an indication of potential ultimate gold leach
extractions under heap leach conditions. Gold recoveries were lower at lower cyanide solution strength
providing guidance that column leach tests be performed at a cyanide strength of 1.0 grams per liter. Column
tests on both bulk samples are currently under leach at feed sizes of 80% -6.3mm (-1/4 inch) and larger to
quantify the amenability of the material to heap leaching. As of the date of this press release the columns have
been under leach for +92 days and demonstrate a nearly linear recovery curve, with the -6.3mm (-1/4 inch)
charge leaching faster than the -9.5mm (-3/8 inch) charge which is leaching faster than the -12.5mm (-1/2 inch)
charge. All test work to date indicates that gold recoveries and rates of extraction are sensitive to feed size,
with gold recoveries increasing with decreasing feed/grind size.
These columns tests will continue until at least 120 -days leach cycle or until gold extraction decrease
materially.
Qualified Person
Gregory Hahn, VP -Exploration and a Certified Professional Geologist (#7122) is a Qualified Person under
National Instrument 43-101 ("NI 43-101") and has reviewed and approved the technical information contained
in this news release.
About Arizona Gold & Silver Inc.
Arizona Gold & Silver Inc. is a leading exploration company focused on uncovering precious metal resources
in Arizona and Nevada. With a commitment to sustainable practices and innovative exploration techniques,
the company aims to drive value for stakeholders while prioritizing environmental stewardship. The flagship
asset is the Philadelphia gold-silver property where the Company is drilling off an epithermal gold -silver
system ahead of an initial resource calculation.
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 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 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 within 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 programs would proceed as planned and within budget. The Company
expressly disclaims any intention or obligation to update 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 .