Arizona Metals Corp Announces Drilling at the Kay Mine Gold-Zinc Discovery Intersects 9.0 m Grading 6.1 g/t Au, 4.0% Cu, 3.3% Zn, and 18 g/t Ag, Within a Broader Interval of 76.0 m Grading 1.6 g/t Au, 0.8% Cu, 4.2% Zn, and 33 g/t Ag

Rhea-AI Summary

Arizona Metals Corp. has announced promising results from four new drill holes at the Kay Mine, revealing extensive gold-rich mineralization. Notable intersections include Branch Hole 21A with 63 m at 1.3 g/t Au and Branch Hole 25A with 65 m at 1.9 g/t Au. The mineralization shows true widths averaging 80%. The ongoing drilling program demonstrates potential for expansion, with assays pending for several additional holes. Funding of $21 million enables the company to advance its 75,000-metre Phase 2 expansion program, which aims to further explore the gold-zinc zones.

Positive

• Discovery of extensive gold-rich mineralization with true widths averaging 80%.
• Notable intersections include 63 m at 1.3 g/t Au in Branch Hole 21A and 65 m at 1.9 g/t Au in Branch Hole 25A.
• Funding of $21 million allows completion of a 75,000-metre Phase 2 expansion program.
• Ongoing drilling shows potential for expanding the gold-zinc zones.

Negative

• None.

Arizona Metals Corp. (TSX.V:AMC, OTCQX:AZMCF) (the “Company” or “Arizona Metals”) is pleased to announce the results of an additional four drill holes at the recently discovered gold-rich zone of open-ended mineralization at the Kay Mine, in an area previously untested by historic drilling or exploration.

Figure 1. Section view looking north. See Tables 1 and 2 for additional details. The true width of mineralization is estimated to be 50% to 97% of reported core width, with an average of 80%.

Branch Hole 21A intersected 63 m at a grade of 1.3 g/t Au, 3.1% Zn, 0.5% Cu, and 59 g/t Ag., including a higher-grade interval of 16.9 m grading 2.5 g/t Au, 4.1% Zn, 0.5% Cu, and 81 g/t Ag. Further up-hole, 21A also intersected 9.4 m grading 0.6 g/t Au, 2.3% Zn, 1.2% Cu, and 9 g/t Ag. Hole 21A entered mineralization at a vertical depth of 362 m.

Branch Hole 25A intersected 65 m of 1.9 g/t Au, 2.2% Zn, 1.0% Cu, and 19 g/t Ag, including two separate higher-grade intervals of 7.3 m grading 2.1 g/t Au, 1.9% Zn, 3.7% Cu, and 30 g/t Ag, and 6.1 m grading 8.0 g/t Au, 3.7% Zn, 2.7% Cu, and 37 g/t Ag, from a vertical depth of 620 m. Hole 25A is a branch from hole 25 (79 m at 2.3 g/t Au, 2.8 % Zn, 1.4 % Cu and 43 g/t Ag), and is located 30 m north and 25 m above hole 25, in order to test both the lateral extension and vertical continuity of mineralization.

Hole 25B intersected 4.3 m grading 0.9 g/t Au, 0.9% Zn, 0.9% Cu, and 25 g/t Ag, within a broader 35 m interval of stringer to semi-massive sulphide mineralization.

Hole 26 intersected 76 m grading 1.6 g/t Au, 4.2% Zn, 0.8% Cu, and 33 g/t Ag, including two separate higher-grade intervals of 14.9 m grading 1.8 g/t Au, 9.7% Zn, 0.7% Cu and 43 g/t Ag, and 9.0 m at 6.1 g/t Au, 4.0% Cu, 3.3% Zn, and 18 g/t Ag, from a vertical depth of 475 m. This hole was targeted to test a zone located 50 m below hole 24 (91 m at 1.3 g/t Au, 3.4 % Zn, 0.5 % Cu, and 44 g/t Ag), but due to excessive flattening while drilling, ended up at a similar elevation to hole 24, but 15 m to the north.

Marc Pais, CEO, commented, “The four drill holes released today validate and extend the new gold-rich zinc zone discovery, with broad intervals of mineralization ranging from 63 m to 76 m, and true widths estimated at an average of 80%. Hole 27 (assays pending) demonstrates that mineralization extends at least 100 m deeper than reported by previous operators. Holes 27A and 27B (assays pending) have encountered semi-massive to massive sulphide mineralization at thicknesses similar to those reported in the discovery holes, while also demonstrating the potential for the discovery zone to both extend at depth and increase on strike as it deepens. The first few holes drilled in the discovery zone were on a large step-out spacing of 100 m to 150 m. Subsequent branch holes to infill between these holes are demonstrating excellent vertical continuity, as well as lateral extension of mineralization on strike to both the north and south. Holes at the lab with assays pending, as well as those currently in progress, and planned, are targeted at aggressively testing the expansion potential of this new discovery. A third drill rig was delivered to site earlier this month, and is currently drilling a target located 500 metres north of the Kay Mine. With the recently completed financing of $21 million, the Company is fully-funded to complete the 75,000 metre Phase 2 expansion program.”

Hole 27 (assays pending) is located approximately 110 m below hole 25. Branch hole 27A (assays pending) was drilled at the same elevation as hole 27, but 110 m to the south. Hole 27B (assays pending), was drilled 50 m to south of 27, in order to test for the extensions at depth of high-grade gold-zinc zones observed in holes 21A, 24, 26, 25, and 25A. Hole 28 (assays pending) targeted an area located 100 m above hole 25, and 100 m north of hole 25B.

The bulk of the mineralized intervals in holes 21A, 25A and 26 are located between the North and South Zones (Figure 1), outside of the area defined in the historic estimate by Exxon. Historical records show very little exploration in this area by Exxon, or other previous operators. Hole 27 was drilled 110 m deeper than hole 25. Hole 27 is 400 m deeper than 21A. These newly defined, wide, high-grade intervals demonstrate the potential to add a significant tonnage of gold-zinc mineralization outside of the historic resource, which is predominantly copper-gold in composition.

Kay Mine Permitting Update and Addition of Third Drill Rig
A third diamond core drill rig was delivered to site on Wednesday June 9^th and began turning at pad 4, located 500 m north of the Kay Mine, on Friday June 11^th. This rig is targeting a shallow (120 m) historic intercept of alternating copper, zinc and gold massive sulphides, that is coincident with both structural and gravity anomalies identified by Arizona Metals.

Permitting for pad and road construction to test the Central and Western Targets was subject to Covid-19 related delays, but is now progressing well again, with drilling expected at these targets later this year.

Covid-19 Monitoring and Mitigation Procedures
The Company’s drill contractor, Boart Longyear, has instituted Covid-19 monitoring procedures for all drill crew members, including daily temperature and symptom checks. Arizona Metals Corp will be provided with daily health tracking updates for the drill crews and has also instituted its own social distancing policies and provided a guidance manual for employees at site.

Table 1. Results of Phase 2 Drill Program at Kay Mine, Yavapai County, Arizona. The true width of mineralization is estimated to be 50% to 97% of reported core width, with an average of 80%.

							Analyzed Grade
Hole ID		From m		To m		Length m	Cu %		Au g/t		Zn %		Ag g/t		Pb %	Vertical Depth Below Surface m
KM-21-17		429.5		449.9		20.4	1.81		1.10		1.20		21.16		0.17	300
including		429.5		434.0		4.6	4.61		1.73		1.91		29.10		0.24
including		432.7		434.0		1.4	0.52		6.81		8.29		40.00		1.10
KM-21-17		504.4		505.4		0.9	1.19		4.73		0.05		9.00		0.00	356
KM-21-18		404.3		429.8		25.5	0.35		0.86		1.71		15.78		0.23	255
including		408.6		410.6		2.0	0.50		2.22		7.25		64.36		0.82
including		424.9		427.3		2.4	1.60		2.59		3.16		18.00		0.52
KM-21-18A		391.4		423.8		32.5	1.09		0.62		1.25		17.57		0.15	233
including		393.3		395.8		2.4	9.57		2.83		2.72		40.88		0.28
KM-21-19		377.8		378.3		0.5	3.39		5.59		6.83		128.00		0.63	337
KM-21-20		442.7		443.6		0.9	2.56		0.52		3.52		18.50		0.14	362
KM-21-20		456.0		458.1		2.1	1.49		0.35		0.14		6.00		0.04	370
KM-21-21		452.6		495.5		42.8	0.80		0.78		1.52		15.06		0.15	362
including		488.7		493.5		4.8	0.26		2.50		6.13		27.55		0.54
KM-21-21A		422.0		431.4		9.4	1.17		0.57		2.25		8.56		0.36	362
KM-21-21A		439.1		502.1		63.0	0.45		1.28		3.14		58.77		0.77	366
including		465.0		481.9		16.9	0.52		2.45		4.05		80.90		0.99
KM-21-23		394.4		401.4		7.0	0.36		0.93		1.94		13.52		1.17	313
KM-21-23		438.6		459.2		20.6	0.17		1.18		1.93		27.79		0.37	336
KM-21-24		501.2		592.1		90.8	0.45		1.33		3.42		44.29		0.41	470
including		501.2		521.7		20.4	1.34		1.70		6.35		113.06		0.66
including		520.9		521.7		0.8	1.75		16.50		9.55		574.00		1.22
including		575.9		592.1		16.2	0.16		2.50		6.00		44.39		0.79
including		588.7		590.4		1.7	0.47		9.98		23.70		18.18		0.13
KM-21-25		662.6		741.3		78.6	1.41		2.33		2.79		43.41		0.35	638
including		663.2		672.7		9.4	8.06		1.84		1.31		92.26		0.15
including		693.0		703.9		11.0	0.68		6.28		10.40		99.67		1.17
KM-21-25A		654.7		719.9		65.2	1.04		1.94		2.15		18.77		0.18	620
including		655.5		662.8		7.3	3.66		2.09		1.85		30.23		0.21
including		710.8		716.9		6.1	2.72		7.95		3.73		37.40		0.31
KM-21-25B		647.2		648.9		1.7	0.13		0.58		2.41		62.09		0.64	600
KM-21-25B		655.6		659.9		4.3	0.93		0.91		0.91		25.32		0.19
KM-21-25B		666.0		667.8		1.8	0.60		0.72		2.98		33.52		0.43
KM-21-25B		673.3		674.7		1.4	0.08		2.10		2.39		23.00		0.33
KM-21-25B		681.2		682.6		1.4	0.09		1.54		2.98		11.00		0.35
KM-21-26		506.7		582.8		76.0	0.79		1.61		4.23		32.65		0.54	475
including		511.1		526.1		14.9	0.73		1.78		9.68		43.34		0.77
including		573.8		582.8		9.0	4.02		6.06		3.32		18.24		0.19

Table 2. Results of Phase 1 Drill Program at Kay Mine, Yavapai County, Arizona. The true width of mineralization is estimated to be 50% to 97% of reported core width, with an average of 80%.

							Analyzed Grade
Hole ID		From m		To m		Length m	Au g/t		Ag g/t		Cu %		Pb %		Zn %	Vertical Depth Below Surface m
KM-20-01		275.8		281.5		5.6	0.48		11.6		0.57		0.18		1.20	156
including		275.8		276.5		0.6	1.22		32.0		0.50		0.73		5.04
including		279.8		281.5		1.6	0.98		22.6		1.21		0.23		1.49
KM-20-02		297.8		300.8		3.0	0.20		1.4		0.77		0.01		0.04	172
KM-20-03		256.3		259.1		2.7	1.01		69.6		3.40		0.09		0.65	120
including		256.3		257.3		0.9	1.79		56.0		7.42		0.17		1.11
KM-20-03		292.2		292.6		0.5	0.19		2.0		2.43		0.04		0.15	152
KM-20-03		295.4		295.8		0.5	0.80		6.0		1.35		0.06		0.91	154
KM-20-03A		252.4		256.9		4.6	2.55		35.6		3.70		0.03		0.27	122
including		252.4		253.1		0.8	6.34		164.0		9.74		0.11		0.40
KM-20-05		266.6		269.0		2.4	1.94		43.3		6.47		0.14		0.57	150
including		266.6		267.8		1.2	2.21		50.0		10.60		0.26		1.05
KM-20-06		267.9		281.5		13.5	0.85		45.6		1.02		0.30		1.23	158
including		267.9		268.4		0.5	2.20		31.0		1.54		0.81		6.10
including		276.6		281.5		4.9	0.87		92.1		1.86		0.42		1.96
including		280.0		281.0		1.1	1.03		340.0		3.22		0.04		0.64
KM-20-09		588.1		588.4		0.3	1.74		15.0		0.91		0.40		1.86
KM-20-09		613.4		614.1		0.7	1.81		10.0		0.90		0.08		1.04
KM-20-09		614.6		614.9		0.3	0.36		19.0		2.64		0.10		0.98
KM-20-09		632.8		638.9		6.1	4.18		41.7		0.12		0.82		8.02	575
including		633.6		637.9		4.4	5.46		33.1		0.15		0.50		9.06
including		636.9		637.9		1.1	9.77		68.0		0.17		0.78		14.65
KM-20-10		563.6		568.5		4.9	2.16		24.9		2.39		0.31		3.27	490
including		563.6		566.6		3.0	2.42		28.2		3.66		0.32		3.16
including		567.2		568.5		1.2	2.52		28.4		0.33		0.43		5.10
KM-20-10		574.2		574.9		0.6	4.33		113.0		0.12		0.16		11.30	498
KM-20-10		577.7		579.3		1.6	0.70		45.9		0.03		0.68		4.38	500
KM-20-10		582.3		583.1		0.8	0.42		51.0		0.03		1.07		2.90	502
KM-20-10A		521.2		522.5		1.3	1.27		51.1		2.13		0.91		7.46	437
KM-20-10A		527.9		538.6		10.7	1.66		27.2		1.32		0.30		2.58	442
including		527.9		529.4		1.5	0.92		30.2		6.69		0.07		1.62
including		532.2		535.3		3.1	1.75		34.3		0.72		0.42		2.99
including		537.2		538.6		1.4	7.29		79.2		0.16		0.60		9.06
KM-20-10B		503.0		530.7		27.6	0.97		21.3		0.87		0.32		1.76	423
including		503.0		509.6		6.6	1.55		29.8		1.78		0.37		2.55
including		513.9		518.3		4.4	1.89		47.4		1.08		0.68		4.05
including		527.2		530.7		3.5	2.32		52.9		1.91		0.99		3.93
KM-20-10C		523.9		530.7		6.8	3.32		102.0		0.58		1.15		5.84	422
including		523.9		528.2		4.3	4.89		125.2		0.88		1.45		7.61
including		525.6		526.4		0.8	16.65		214.0		0.52		2.76		21.40
KM-20-11		554.1		556.9		2.7	2.83		70.0		4.14		0.28		3.56	490
KM-20-12		371.9		376.7		4.9	0.37		12.4		3.99		0.07		0.62	318
including		371.9		373.7		1.9	0.67		28.0		8.49		0.16		1.53
KM-20-12		379.5		405.4		25.9	0.08		2.3		0.73		0.01		0.08	326
KM-20-13		443.6		486.8		43.1	1.26		23.3		1.68		0.24		1.67	341
including		444.4		459.6		15.2	1.80		38.5		3.42		0.39		2.36
including		444.4		447.1		2.7	3.74		55.0		1.02		1.88		10.64
including		451.4		455.8		4.4	1.18		65.3		8.41		0.02		0.16
KM-20-14		421.7		461.6		39.9	1.00		18.4		1.47		0.19		1.67	314
including		426.3		429.8		3.5	1.28		30.0		9.56		0.07		0.95
including		457.2		460.7		3.5	2.58		26.3		0.36		0.38		8.33
KM-20-14A		404.6		409.0		4.4	1.48		79.2		1.67		0.41		2.50	303
including		404.6		406.4		1.7	2.46		173.6		4.08		0.53		5.02
KM-20-14A		421.0		443.5		22.5	0.72		15.9		0.86		0.18		1.51	312
including		421.0		421.8		0.8	2.91		45.0		9.81		0.19		1.69
including		421.0		425.0		4.1	1.14		21.4		3.23		0.14		1.30
KM-20-15		506.8		510.1		3.3	0.33		192.0		0.05		1.75		3.73	402
KM-20-16		480.4		518.8		38.4	0.81		24.3		0.85		0.25		2.24	385
including		480.4		492.9		12.5	1.98		48.5		1.63		0.50		4.23
including		480.4		483.4		3.0	4.74		77.9		2.40		0.91		7.49
including		489.8		492.9		3.0	2.59		100.7		3.61		0.92		6.90

Table 3. Locations of Phase 1 and 2 Program drill holes completed and in progress at Kay Mine, Arizona

Hole ID	Phase	Drill Pad	Zone	Collar East WGS84	Collar North WGS84	Collar Elev m	Collar Az	Collar Dip	Total Depth m
KM-20-01	1	Pad 1	North	392684	3769388	643	78	-48	335
KM-20-02	1	Pad 1	North	392684	3769388	643	75	-50	304
KM-20-03	1	Pad 1	North	392684	3769388	643	72	-43.3	366
KM-20-03A	1	Pad 1	North	392684	3769388	643	72	-43.3	321
KM-20-04	1	Pad 1	North	392684	3769388	643	65.1	-47.5	354
KM-20-05	1	Pad 1	North	392684	3769388	643	73.3	-47.2	349
KM-20-06	1	Pad 1	North	392684	3769388	643	81.3	-48.3	317
KM-20-07	1	Pad 1	North	392684	3769388	643	85.6	-47.6	308
KM-20-08	1	Pad 2	South	392638	3769266	653	91.1	-77.1	36
KM-20-09	1	Pad 2	South	392638	3769266	653	92.1	-77	671
KM-20-10	1	Pad 2	South	392638	3769266	653	96.3	-72.2	645
KM-20-10A	1	Pad 2	South	392638	3769266	653	96.3	-72.2	600
KM-20-10B	1	Pad 2	South	392638	3769266	653	96.3	-72.2	555
KM-20-10C	1	Pad 2	South	392638	3769266	653	96.3	-72.2	560
KM-20-11	1	Pad 3	North	392552	3769328	638	57.3	-67.5	653
KM-20-12	1	Pad 1	North	392684	3769388	643	95.7	-70.8	583
KM-20-13	1	Pad 1	South	392684	3769388	643	124	-66.5	524
KM-20-14	1	Pad 1	South	392684	3769388	643	133.6	-66	550
KM-20-14A	1	Pad 1	South	392684	3769388	643	133.6	-66	549
KM-20-15	1	Pad 2	South	392638	3769266	653	106.7	-66.8	572
KM-20-16	1	Pad 2	South	392638	3769266	653	91.5	-68.9	581
KM-21-17	2	Pad 2	South	392638	3769266	653	90.5	-59.5	892
KM-21-18	2	Pad 2	South	392638	3769266	653	89.8	-55	518
KM-21-18A	2	Pad 2	South	392638	3769266	653	89.8	-55	472
KM-21-19	2	Pad 1	North	392684	3769388	643	59.3	-69.5	482
KM-21-20	2	Pad 2	North	392638	3769266	653	53.7	-67.3	553
KM-21-21	2	Pad 1	South	392684	3769388	643	126	-70	561
KM-21-21A	2	Pad 1	South	392684	3769388	643	126	-70	556
KM-21-22	2	Pad 3	Grav	392552	3769328	638	33	-63	725
KM-21-22A	2	Pad 3	Grav	392552	3769328	638	33	-63	694
KM-21-23	2	Pad 1	South	392684	3769388	643	114.2	-66.3	528
KM-21-24	2	Pad 1	South	392684	3769388	643	119	-75.1	623
KM-21-25	2	Pad 3	South	392552	3769328	638	80	-77.4	775
KM-21-25A	2	Pad 3	South	392552	3769328	638	80	-77.4	746
KM-21-25B	2	Pad 3	South	392552	3769328	638	80	-77.4	738
KM-21-26	2	Pad 1	South	392684	3769388	643	118.2	-79.3	616
KM-21-27	2	Pad 1	South	392684	3769388	643	90.4	-86.7	859
KM-21-27A	2	Pad 1	South	392684	3769388	643	90.4	-86.7	817
KM-21-27B	2	Pad 1	South	392684	3769388	643	90.4	-86.7	823
KM-21-28	2	Pad 3	South	392552	3769328	638	86.7	-70.5	774
KM-21-29	2	Pad 1	South	392684	3769388	643	108.5	-54	489

About Arizona Metals Corp.
Arizona Metals Corp. owns 100% of the Kay Mine Property in Yavapai County, which is located on a combination of patented and BLM claims totaling 1,300 acres that are not subject to any royalties. An historic estimate by Exxon Minerals in 1982 reported a “proven and probable reserve of 6.4 million short tons at a grade of 2.2% copper, 2.8 g/t gold, 3.03% zinc, and 55 g/t silver.” The historic estimate at the Kay Mine was reported by Exxon Minerals in 1982. 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 verification may be required by a “qualified person” (as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects) before the historic estimate can be verified and upgraded to be 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.

The Kay Mine 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 Company also owns 100% of the Sugarloaf Peak Property, in La Paz County, which is located on 4,400 acres of BLM claims. Sugarloaf 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, 1983, Westworld Resources).

The historic estimate at the Sugarloaf Peak Property 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 verification may be required by a qualified person 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.

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 and sampling were completed at Arizona Metals’ core handling facilities located in Anthem and Black Canyon City, Arizona. Drill core was diamond sawn on site and half drill-core samples were securely transported to ALS Laboratories’ (“ALS”) sample preparation facility in Tucson, Arizona. Sample pulps were sent to ALS’s labs in Vancouver, Canada, for analysis.

Gold content was determined by fire assay of a 30-gram charge with ICP finish (ALS method Au-AA23). Silver and 32 other elements were analyzed by ICP methods with four-acid digestion (ALS method ME-ICP61a). Over-limit samples for Au, Ag, Cu, and Zn were determined by ore-grade analyses Au-GRA21, Ag-OG62, Cu-OG62, and Zn-OG62, respectively.

ALS Laboratories is independent of Arizona Metals Corp. and its Vancouver facility is 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 as defined in National Instrument43-101–Standards of Disclosure for Mineral Projects. 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 supervised 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.

Disclaimer
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. Any 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 and assays, the resumption of drilling and the effects of the COVID-19 pandemic on the business and operations of the Company. 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 financing; 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.

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FAQ

What are the latest drill results from Arizona Metals Corp. at Kay Mine?

Arizona Metals Corp. reported new drill results including Branch Hole 21A with 63 m at 1.3 g/t Au and Branch Hole 25A with 65 m at 1.9 g/t Au.

How is Arizona Metals Corp. funding its drilling program at Kay Mine?

The company recently completed a financing round of $21 million to support its 75,000-metre Phase 2 expansion program.

What is the significance of the true widths reported in the latest drill holes?

The true widths of the mineralization are estimated to average 80%, indicating significant potential for resource expansion.

What assays are pending for Arizona Metals Corp. at Kay Mine?

Assays are pending for several additional holes drilled in the discovery zone, expected to provide further insights into the mineralization.

What are the grades found in the recent drill holes at Kay Mine?

Recent drill holes reported grades including 1.3 g/t Au in Hole 21A and 1.9 g/t Au in Hole 25A, demonstrating high mineralization content.