Open Letter to the Shareholders from the CEO of Arizona Silver Exploration Inc.
#970 – 777 Hornby Street, Vancouver, B.C. V6Z 1S4
T: 604.559.3511 x150 / F : 604.559.3501 / W : www.arizonasilverexploration.com
OPEN LETTER TO THE SHAREHOLDERS
FROM THE CEO OF ARIZONA SILVER EXPLORATION INC.
Vancouver, British Columbia , January 19, 2022 – Arizona Silver Exploration Inc . (TSXV:
AZS) (OTCQB:AZASF) today released a year -end letter from Mike Stark, CEO, to the Company’s
shareholders. The letter follows below and can also be accessed f rom the Company’s website at
www.arizonasilverexploration.com
Greetings Shareholders,
We at Arizona Silver can celebrate the progress we made in 2021. This newsletter highlights our
accomplishments and signals to shareholders our planned activities going forward.
Our Company has four properties in Arizona but investors are focusing on the exciting results emerging from
our Philadelphia project. We have discovered gold in multiple zones and look forward to drilling the depth
extent and linkages between those zones. Importantly we have demonstrated potentially economic grades, not
only in the primary vein target but in the surrounding rocks.
The following information t racks the property from north to south. We now control the entire 3 km. strike
length but that is a recent development. Prior to the latest agreement we could only drill on the claims we
owned or leased at the time.
Early in 2021 we drilled multiple high-grade holes at the north end of the property on the Mamie claim. Despite
the high grades, the vein did not persist below 100 metres. The next two claims to the south of these intercepts
and along the strike of the vein are the Resaca and Rising Fawn patented claims. These claims accounted for
approximately 40,000 ounces of gold production at a grade of 0.4 oz/ton. We negotiated on these claims for
over two years and in August 2021 announced a lease agreement. Exploration can now proceed.
At the southern end of the Rising Fawn claim is a prominent outcrop of brecciated quartz vein we refer to as
the “Shark Fin”. This prominent, yet undrilled feature is part of the target zone. Our first fence of holes in the
upcoming core drilling campaign will test this feature.
#970 – 777 Hornby Street, Vancouver, B.C. V6Z 1S4
T: 604.559.3511 x150 / F : 604.559.3501 / W : www.arizonasilverexploration.com
Photo of the Shark Fin – a brecciated quartz vein at the south end of Rising Fawn
We negotiated an agreement on the third patented claim in line to the south, the Perry claim earlier in the year.
Mid year we secured a reverse circu lation drill rig to test the Perry vein, a continuation of the vein system
exposed and tested to the north. Sampling of the vein had indicated gold was present but textures suggested
we were above the boiling zone where gold and quartz would most likely have precipitated. The target shows
quartz vein breccia across an excellent width of 10-15 metres, a width that made it a compelling target.
We drilled a fence of three holes about 50 metres south of the Shark Fin. One of the holes returned a vein
intercept of 3 meters at 16.9 grams per tonne gold within a broad zone of stockwork low -grade gold
mineralization. The rig then moved about 300 metres further south on the Perry claim to drill several fences
of holes across the target zone. The terrain between th e two areas was inaccessible at the time due to terrain
challenges. All holes intersected gold at the location of the vein. Above and below the vein was an envelope
of iron staining, clay alteration and stockwork quartz. Assays from both the vein and the altered rock showed
increasing thickness and gold grades with depth.
Drill holes PRC21 -80 and PRC21 -85, our deepest holes of this program intersected both the vein and low -
grade mineralization over total drill intercepts of +100 metres. The low -grade envelope is +1 gram per tonne
gold, a grade that is amenable to mining by open pit in numerous bulk tonnage operations. Importantly, the
mineralization is open in all directions. We refer to the 300 metre long gap between the two drill sections as
the “Gap Zone’.
View of the iron-stained rhyolite dome cap from drill site PRC21 -85.
The Arizona Silver website includes a geological model to explain our interpretation of how the gold is
emplaced and its relationship to a feature known as the rhyolite flow dome. The photo above shows the red
(hydrothermally altered) rocks characteristic of that feature. Our interpretation of the dome is that it potentially
acted as a cap (over 50 metres thick) above the gold (“boiling zone’) by 100 metres. Based on our modeling,
deeper drilling is expected to generate intercepts that are both higher grade and thicker.
The Company is anxious to resume drilling, not just on the Gap Zone, but on the entire strike length up to and
including the Shark Fin and Rising Fawn areas. During a December site visit the message was “Mike, this
#970 – 777 Hornby Street, Vancouver, B.C. V6Z 1S4
T: 604.559.3511 x150 / F : 604.559.3501 / W : www.arizonasilverexploration.com
project is a no-brainer - the Company simply has to drill and the results will come. Get on to it.” Indeed, we
have established multiple gold bearing zones that simply need to be linked with drilling. Given the 3000 metre
length of the vein system as we know it, and the low -grade envelope demonstrated on the Perry claim, the
project offers significant tonnage potential. Drilling is targeted to resume on February 1, 2022.
Our three other properties remain under care and maintenance. A drilling permit with the BLM at the Silverton
Property allows for 12 holes. It has been approved and bonded. This property has large scale potential, being
compared to the Long Canyon gold deposit currently in operation by Newmont.
The Ramsey Property is permitted for 8 more holes. Drilling pads are complete on the patented ground.
Ramsey has shown good silver values in the holes completed to date and clearly warrants much more drilling.
We believe we have just scratched the surface of this opportunity.
The Sycamore Canyon Property has tried our patience for sure due to permitting delays. I hope to share news
in Q1-2022 on permitting developments.
In summary, we remain committed to Philadelphia simply because it has shown th e highest value to
shareholders, with our results speaking for themselves. Please stay informed by referring to our website as we
update it regularly. I always enjoy the phone calls from you. Check out:
https://arizonasilverexploration.com/stockinformation/
From our team to you, have a safe, healthy and prosperous 2022!
Mike Stark
President and CEO
1-604-833-4278
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 2020-2021 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 2021 drilling program(s) on its properties, 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 co ntinue 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) a nd
environmental liability; timeliness of government or regulatory approvals; and other risks detailed herein and
#970 – 777 Hornby Street, Vancouver, B.C. V6Z 1S4
T: 604.559.3511 x150 / F : 604.559.3501 / W : www.arizonasilverexploration.com
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 2022 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.