Arizona Metals Corp’s Kay Mine Drilling Intersects 68.4 m at 6.7 g/t AuEq; 84.4 m at 5.3 g/t AuEq; and 72.5 m at 2.5% CuEq

Rhea-AI Summary

Arizona Metals Corp (OTCQX:AZMCF) announced positive results from six drill holes at its Kay Mine project in Arizona, showcasing significant widths and high grades of sulphide mineralization. Hole KM-21-58 revealed 68.4 m at 6.7 g/t AuEq, while other holes confirmed continuity of mineralization. The ongoing drilling program continues to demonstrate expanding mineralization, with 20 additional holes pending. The company is fully funded for 30,000 meters of Phase 2 drilling and an additional 76,000 meters in Phase 3, with the potential for significant mineral resource definition.

Positive

• Significant intersected widths and high grades of sulphide mineralization reported.
• Hole KM-21-58 showed 68.4 m at 6.7 g/t AuEq, indicating strong continuity.
• All pending holes confirmed the continuation of mineralization.
• Company is fully funded for the remaining 30,000 meters of the Phase 2 drilling program.
• Potential for significant mineral resource definition with Phase 3 drill program.

Negative

• None.

TORONTO--(BUSINESS WIRE)-- Arizona Metals Corp. (TSX.V:AMC, OTCQX:AZMCF) (the “Company” or “Arizona Metals”) is pleased to announce the results of six recently completed drill holes at its Kay Mine project in Yavapai, County Arizona. An additional 20 holes are pending, with three drill rigs turning 24 hours per day.

Figure 1. Cross section view looking north showing assay intervals in drilling. See Tables 1-3 for additional details. The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 80%. (Graphic: Business Wire)

Marc Pais, CEO, commented “Drilling at the Kay Mine Project continues to intersect very large widths and high grades of massive sulphide mineralization. The holes released today demonstrate excellent continuity of mineralization in all directions, while also showing that mineralization is substantially thicker than suggested by our original modelling. Drilling has extended mineralization well into both the hanging-wall and foot-wall envelopes, which gives the potential to define a significant tonnage of mineralization.

Hole 51B showed the deepest mineralization assayed to date, at a vertical depth of 900 meters. Drilling is currently underway to test for depth extensions to at least 1,100 meters, while also testing for lateral extensions of the thick hinge zone. The twenty holes pending all encountered semi-massive or massive sulphide mineralization, and those intersections are guiding the drilling currently underway.

We have drilled approximately 45,000 meters at Kay to date, with each hole solidifying our opinion that this is one of the very few large precious-metals rich VMS deposits not yet mined, and more importantly, is potentially part of a much larger mineralized system that has yet to be explored. To that end, we recently completed a property-wide ground-loop electromagnetic survey, which will serve to refine and improve the resolution of the Central and Western targets, located approximately 300 meters and 1,000 meters west of Kay, respectively. Drill pad and road permitting is currently underway for these targets, with a detailed update expected in the next few weeks.”

Drilling Highlights

• Hole KM-21-58 intersected 68.4 m at a grade of 6.7 g/t AuEq, including higher-grade intervals of 7.3 m grading 10.1 g/t AuEq and 10.5 m grading 21.1 g/t AuEq, from a depth of 614 m. This hole is in the central portion of the deposit, and demonstrates excellent continuity of mineralization between holes 26, 28, 25A, and 40.
• Hole KM-21-58A intersected 72.5 m at a grade of 2.5% CuEq, including higher grade intervals of 7.6 m grading 3.0% CuEq, 11.0 m grading 4.3% CuEq, and 8.3 m grading 4.2% CuEq, from a depth of 569 m. This hole is in the central portion of the deposit, and demonstrates continuity and extension of mineralization between holes 26, 28, 25A, and 40.
• Hole KM-21-58B intersected 84.4 m at a grade of 5.3 g/t AuEq, including higher grade intervals of 11.3 m grading 10.3 g/t AuEq, and 17.4 m grading 11.2 g/t AuEq, from a depth of 597 m. This hole is in the central portion of the deposit, and demonstrates continuity of mineralization between holes 26, 28, 25A, and 40.
• Hole KM-21-51B intersected 9.8 m at a grade of 2.8% CuEq, including a higher grade interval of 0.9 m grading 8.0% CuEq, from a depth of 861m. At 10.6 m farther down-hole, this hole also intersected 9.8 m grading 1.4% Cu, including 1.1 meters grading 6.1% CuEq. This is the deepest hole assayed to date, extending mineralization about 35 m north and 12 m downdip from hole 42C.
• Hole KM21-57 intersected 7.8 m grading 3.9 g/t AuEq, including a higher grade interval of 0.9 m at a grade of 12.7 g/t AuEq, from a depth of 820 m. Thirty-five meters farther downhole, this hole intersected 15.5 m at a grade of 3.3% CuEq including a higher grade interval of 3.5 m grading 7.5% CuEq. This hole shows excellent continuity of high-grade mineralization between holes 27A and 42A.

Kay Mine Phase 2 Drill Program Update

With the assayed holes released today, the Company has completed a total of 45,000 meters at the Kay Mine since inception of drilling. The Company is fully-funded to complete the remaining 30,000 meters planned for the Phase 2 program, as well as an additional 76,000 meters in the upcoming Phase 3 program.

Table 1. Results of Phase 2 Drill Program at Kay Mine, Yavapai County, Arizona announced in this news release.

								Analyzed Grade										Analyzed Metal Equivalent						Metal Equivalent (including assumed recoveries)
Hole ID		From m		To m		Length m		Cu %		Au g/t		Zn %		Ag g/t		Pb %		Cu eq %		Au eq g/t		Zn eq%		Cu eq %		Au eq g/t		Zn eq%
KM-21-51B		860.5		870.2		9.8		3.00		0.13		0.10		6.5		0.05		3.18		5.21		8.27		2.82		4.63		7.35
including		864.7		865.6		0.9		8.70		0.09		0.09		16.0		0.10		8.93		14.64		23.24		7.99		13.09		20.78
KM-21-51B		881.5		884.2		2.7		0.52		0.22		0.62		28.3		0.14		1.15		1.88		2.98		0.92		1.51		2.40
KM-21-51B		893.7		903.4		9.8		1.51		0.10		0.06		4.4		0.01		1.63		2.67		4.24		1.44		2.36		3.74
including		898.2		899.3		1.1		6.56		0.11		0.10		15.0		0.04		6.79		11.13		17.67		6.06		9.93		15.75
KM-21-56		434.6		435.9		1.2		1.53		0.39		0.13		19.0		0.01		1.97		3.23		5.12		1.66		2.72		4.31
KM-21-56		499.1		501.5		2.4		1.53		0.18		7.15		6.4		0.02		4.45		7.29		11.57		3.96		6.48		10.29
including		499.1		500.2		1.1		1.97		0.31		14.55		7.0		0.02		7.81		12.81		20.33		6.96		11.41		18.10
KM-21-56		524.0		525.0		1.1		0.97		0.12		0.07		5.0		0.03		1.12		1.83		2.91		0.97		1.59		2.53
KM-21-56		558.2		563.6		5.3		0.82		0.99		3.09		27.0		0.06		2.84		4.65		7.38		2.31		3.78		6.00
KM-21-56		577.0		578.2		1.2		0.02		1.66		0.47		5.0		0.02		1.26		2.06		3.27		0.81		1.34		2.12
KM-21-57		776.5		784.3		7.8		0.26		2.30		2.59		57.9		0.68		3.27		5.36		8.51		2.39		3.91		6.21
including		777.8		778.8		0.9		0.25		6.62		11.45		105.0		3.33		10.26		16.81		26.68		7.77		12.73		20.21
KM-21-57		819.9		835.5		15.5		1.29		2.17		2.58		90.9		0.27		4.39		7.19		11.41		3.33		5.47		8.67
including		824.0		827.5		3.5		3.69		4.67		3.81		228.5		0.29		9.88		16.19		25.69		7.49		12.28		19.48
KM-21-57		852.5		853.6		1.1		0.30		3.10		2.33		92.0		0.57		3.94		6.46		10.25		2.76		4.52		7.18
KM-21-57A		728.6		735.5		6.9		2.49		1.04		0.57		6.6		0.02		3.40		5.57		8.84		2.85		4.68		7.42
KM-21-57A		759.6		821.4		61.9		1.08		2.60		3.73		32.0		0.50		4.46		7.31		11.60		3.46		5.67		9.00
including		762.3		783.3		21.0		0.42		6.78		9.49		67.9		0.49		8.84		14.50		23.00		6.56		10.75		17.06
KM-21-58		577.0		586.4		9.4		0.43		1.28		2.48		41.3		0.47		2.59		4.25		6.74		2.00		3.28		5.20
KM-21-58		614.2		682.6		68.4		1.30		3.42		3.85		47.2		0.50		5.35		8.78		13.93		4.08		6.69		10.61
including		640.7		648.0		7.3		0.79		4.34		10.20		51.9		0.56		7.90		12.94		20.54		6.19		10.14		16.10
including		668.1		678.6		10.5		5.30		12.19		6.67		194.7		1.88		17.26		28.30		44.90		12.84		21.05		33.40
including		668.1		669.6		1.5		2.55		43.20		7.76		856.0		0.80		38.86		63.69		101.08		25.03		41.02		65.10
KM-21-58A		569.4		641.8		72.5		1.12		1.00		2.84		18.1		0.33		3.03		4.97		7.89		2.50		4.10		6.51
including		584.3		591.9		7.6		0.29		1.19		6.23		4.4		0.40		3.53		5.79		9.19		2.95		4.84		7.68
including		602.3		613.3		11.0		4.02		0.11		1.38		12.6		0.40		4.80		7.88		12.50		4.27		7.01		11.12
including		630.3		630.9		0.7		1.14		6.35		11.20		356.0		0.65		12.28		20.13		31.95		9.05		14.83		23.53
including		633.5		641.8		8.3		1.53		2.33		5.12		26.5		0.36		5.20		8.53		13.53		4.19		6.87		10.91
KM-21-58A		665.5		676.0		10.5		0.12		2.90		3.88		167.5		1.92		5.13		8.41		13.34		3.69		6.04		9.59
including		672.5		676.0		3.5		0.12		6.89		6.40		332.0		3.81		10.26		16.82		26.70		7.19		11.78		18.69
including		673.6		674.5		0.9		0.28		19.65		12.65		844.0		10.20		26.07		42.74		67.82		17.86		29.27		46.45
KM-21-58B		543.2		627.6		84.4		1.05		2.38		3.44		23.8		0.55		4.13		6.77		10.75		3.23		5.29		8.39
including		571.2		582.5		11.3		0.51		5.27		9.96		35.4		1.52		8.18		13.40		21.27		6.31		10.34		16.41
including		605.3		622.7		17.4		3.20		6.19		4.18		40.9		0.22		8.96		14.69		23.31		6.83		11.20		17.78
including		609.6		612.0		2.4		1.45		17.73		7.97		82.5		0.44		16.08		26.35		41.81		11.03		18.07		28.68

The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 80%. (2) Assumptions used in USD for the copper and gold Metal Equivalent calculations were metal prices of $4.63/lb Copper, $1937/oz Gold, $25/oz Silver, $1.78/lb Zinc, and $1.02/lb Pb. Assumed metal recoveries (rec.), based on a preliminary review of historic data by SRK and ProcessIQ¹, were 90% for each of copper, zinc, and lead, and 60% for each of gold and silver. The following equation was used to calculate copper equivalence: CuEq = Copper (%) (90% rec.) + (Gold (g/t) x 0.61)(60% rec.) + (Silver (g/t) x 0.0079)(60% rec.) + (Zinc (%) x 0.3844)(90% rec.) +(Lead (%) x 0.2203)(90% rec.). The following equation was used to calculate gold equivalence: AuEq = Gold (g/t)(60% rec.) + (Copper (%) x 1.638)(90% rec.) + (Silver (g/t) x 0.01291)(60% rec.) + (Zinc (%) x 0.6299)(90% rec.) +(Lead (%) x 0.3609)(90% rec.). Analyzed Metal Equivalent calculations are reported for illustrative purposes only. The metal chosen for reporting on an equivalent basis is the one that contributes the most dollar value after accounting for assumed recoveries.

Table 2. Full results of Phase 2 Drill Program at Kay Mine, Yavapai County, Arizona.

								Analyzed Grade										Analyzed Metal Equivalent						Metal Equivalent (including assumed recoveries)
Hole ID		From m		To m		Length m		Cu %		Au g/t		Zn %		Ag g/t		Pb %		Cu eq %		Au eq g/t		Zn eq%		Cu eq %		Au eq g/t		Zn eq%
KM-21-17		429.5		449.9		20.4		1.81		1.10		1.20		21.2		0.17		3.14		5.15		8.18		2.58		4.22		6.70
including		429.5		434.0		4.6		4.61		1.73		1.91		29.1		0.24		6.68		10.96		17.39		5.63		9.23		14.64
including		432.7		434.0		1.4		0.52		6.81		8.29		40.0		1.10		8.41		13.79		21.89		6.23		10.22		16.21
KM-21-17		504.4		505.4		0.9		1.19		4.73		0.05		9.0		0.00		4.17		6.83		10.84		2.86		4.69		7.45
KM-21-18		404.3		429.8		25.5		0.35		0.86		1.71		15.8		0.23		1.71		2.80		4.44		1.34		2.20		3.49
including		408.6		410.6		2.0		0.50		2.22		7.25		64.4		0.82		5.33		8.74		13.87		4.24		6.95		11.03
including		424.9		427.3		2.4		1.60		2.59		3.16		18.0		0.52		4.66		7.64		12.12		3.68		6.02		9.56
KM-21-18A		391.4		423.8		32.5		1.09		0.62		1.25		17.7		0.15		2.13		3.48		5.53		1.76		2.88		4.57
including		393.3		395.8		2.4		9.57		2.83		2.72		40.9		0.28		12.73		20.87		33.12		10.84		17.78		28.21
KM-21-19		377.8		378.3		0.5		3.39		5.59		6.83		128.0		0.63		10.58		17.34		27.52		8.19		13.43		21.32
KM-21-20		442.7		443.6		0.9		2.56		0.52		3.52		18.5		0.14		4.40		7.22		11.45		3.82		6.26		9.94
KM-21-20		456.0		458.1		2.1		1.49		0.35		0.14		6.0		0.04		1.81		2.97		4.71		1.55		2.54		4.04
KM-21-21		452.6		495.5		42.8		0.80		0.78		1.52		15.1		0.15		2.01		3.29		5.22		1.63		2.67		4.24
including		488.7		493.5		4.8		0.26		2.50		6.13		27.6		0.54		4.48		7.34		11.65		3.51		5.75		9.12
KM-21-21A		422.0		431.4		9.4		1.17		0.57		2.25		8.6		0.36		2.53		4.15		6.58		2.15		3.53		5.60
KM-21-21A		439.1		502.1		63.0		0.45		1.28		3.14		58.8		0.77		3.08		5.04		8.00		2.39		3.92		6.23
including		465.0		481.9		16.9		0.52		2.45		4.05		80.9		0.99		4.43		7.26		11.53		3.35		5.49		8.71
KM-21-23		394.4		401.4		7.0		0.36		0.93		1.94		13.5		1.17		2.05		3.35		5.32		1.64		2.69		4.26
KM-21-23		438.6		459.2		20.6		0.17		1.18		1.93		27.8		0.37		1.94		3.17		5.03		1.46		2.39		3.80
KM-21-24		501.2		592.1		90.8		0.45		1.33		3.42		44.6		0.41		3.02		4.95		7.86		2.37		3.88		6.16
including		501.2		521.7		20.4		1.34		1.70		6.35		113.1		0.66		5.86		9.60		15.24		4.69		7.69		12.20
including		520.9		521.7		0.8		1.75		16.50		9.55		574.0		1.22		20.31		33.29		52.82		13.89		22.77		36.13
including		575.9		592.1		16.2		0.16		2.50		6.00		44.4		0.79		4.51		7.40		11.74		3.50		5.74		9.11
including		588.7		590.4		1.7		0.47		9.98		23.70		18.2		0.13		15.84		25.96		41.20		12.39		20.30		32.22
KM-21-25		662.6		741.3		78.6		1.41		2.33		2.79		43.4		0.35		4.33		7.10		11.26		3.37		5.52		8.76
including		663.2		672.7		9.4		8.06		1.84		1.31		92.3		0.15		10.45		17.13		27.18		8.85		14.50		23.01
including		693.0		703.9		11.0		0.68		6.28		10.40		99.7		1.17		9.56		15.66		24.86		7.21		11.82		18.77
KM-21-25A		654.7		719.9		65.2		1.04		1.94		2.15		18.9		0.18		3.25		5.32		8.44		2.52		4.13		6.56
including		655.5		662.8		7.3		3.66		2.09		1.85		30.2		0.21		5.93		9.73		15.44		4.89		8.01		12.71
including		710.8		716.9		6.1		2.72		7.95		3.73		37.4		0.31		9.37		15.36		24.38		6.89		11.29		17.92
KM-21-25B		647.2		648.9		1.7		0.13		0.58		2.41		62.1		0.64		2.04		3.35		5.31		1.58		2.60		4.12
KM-21-25B		655.6		659.9		4.3		0.93		0.91		0.91		25.3		0.19		2.07		3.40		5.40		1.64		2.69		4.27
KM-21-25B		666.0		667.8		1.8		0.60		0.72		2.98		33.5		0.43		2.55		4.18		6.63		2.08		3.41		5.42
KM-21-25B		673.3		674.7		1.4		0.08		2.10		2.39		23.0		0.33		2.53		4.15		6.58		1.84		3.01		4.78
KM-21-25B		681.2		682.6		1.4		0.09		1.54		2.98		11.0		0.35		2.34		3.83		6.08		1.80		2.95		4.67
KM-21-26		506.7		582.8		76.0		0.79		1.61		4.23		32.7		0.54		3.78		6.19		9.83		3.03		4.96		7.88
including		511.1		526.1		14.9		0.73		1.78		9.68		43.3		0.77		6.05		9.92		15.74		5.02		8.23		13.05
including		573.8		582.8		9.0		4.02		6.06		3.32		18.2		0.19		9.18		15.04		23.87		7.11		11.65		18.49
KM-21-27		706.8		738.2		31.4		1.58		0.16		0.69		9.0		0.06		2.03		3.33		5.28		1.77		2.91		4.62
KM-21-27		764.4		777.4		13.0		2.85		0.48		0.17		8.5		0.02		3.29		5.39		8.55		2.85		4.67		7.41
KM-21-27A		666.3		769.4		103.1		0.79		1.06		1.90		35.8		0.42		2.54		4.17		6.62		2.01		3.30		5.23
including		666.3		687.0		20.7		3.21		1.39		1.26		19.4		0.20		4.74		7.77		12.33		3.97		6.50		10.32
including		706.4		724.6		18.3		0.69		2.69		4.70		92.2		1.21		5.13		8.41		13.35		3.91		6.41		10.17
including		752.9		763.8		11.0		0.07		1.07		4.68		95.3		0.98		3.49		5.73		9.09		2.72		4.46		7.08
KM-21-27B		665.8		762.9		97.1		1.31		1.62		3.21		31.7		0.40		3.88		6.35		10.08		3.12		5.11		8.11
including		702.0		723.0		21.0		0.87		4.56		9.03		81.5		1.10		8.01		13.13		20.83		6.18		10.13		16.08
including		723.0		738.2		15.2		4.97		0.36		0.42		18.7		0.05		5.51		9.03		14.33		4.85		7.95		12.61
KM-21-28		640.7		694.9		54.3		1.87		2.85		5.03		29.4		0.70		5.93		9.72		15.43		4.75		7.78		12.34
including		660.2		671.6		11.4		0.54		4.29		9.30		32.2		1.17		7.24		11.87		18.84		5.66		9.27		14.71
including		681.1		689.0		7.9		4.39		9.47		10.34		93.1		2.41		15.42		25.27		40.10		11.92		19.54		31.00
including		690.4		692.6		2.2		16.06		0.82		0.06		55.8		0.01		17.02		27.90		44.28		15.04		24.65		39.12
KM-21-29		393.0		393.8		0.8		0.43		1.54		4.92		9.0		0.21		3.38		5.54		8.79		2.74		4.49		7.13
KM-21-30		264.9		267.9		3.0		1.18		0.02		0.01		1.5		0.00		1.21		1.98		3.15		1.08		1.77		2.81
KM-21-32		316.4		320.0		3.7		1.84		1.29		2.47		38.5		0.30		3.95		6.47		10.27		3.22		5.29		8.39
KM-21-32		342.9		345.9		3.0		0.67		0.52		2.70		13.0		0.15		2.16		3.54		5.62		1.82		2.98		4.73
KM-21-32		358.9		368.4		9.4		0.60		1.47		1.99		45.7		0.35		2.70		4.42		7.01		2.05		3.36		5.33
KM-21-33		171.3		172.5		1.2		3.79		0.45		0.21		63.0		0.17		4.69		7.68		12.19		3.99		6.53		10.37
KM-21-34		299.3		303.9		4.6		0.29		1.69		0.94		46.3		0.26		2.12		3.47		5.50		1.48		2.43		3.86
KM-21-34		309.7		310.9		1.2		2.27		0.56		1.55		19.9		0.08		3.38		5.54		8.80		2.89		4.74		7.53
KM-21-35		609.6		615.1		5.5		0.92		1.26		1.71		57.7		0.02		2.80		4.60		7.29		2.16		3.53		5.61
including		609.6		613.0		3.4		1.39		1.69		1.98		54.0		0.01		3.61		5.92		9.40		2.81		4.61		7.32
KM-21-38		406.5		407.8		1.4		0.60		1.08		9.41		4.0		0.25		4.96		8.13		12.90		4.26		6.98		11.07
KM-21-38		467.4		476.1		8.7		0.09		1.73		3.87		61.1		1.22		3.38		5.55		8.80		2.58		4.24		6.72
including		470.0		475.2		5.2		0.12		2.44		5.68		87.5		1.79		4.88		8.01		12.71		3.74		6.13		9.73
KM-21-40		589.8		613.8		24.0		4.98		0.61		0.98		23.4		0.45		6.01		9.86		15.65		5.25		8.60		13.64
including		589.8		597.9		8.1		7.63		0.43		0.39		27.1		0.17		8.30		13.60		21.58		7.32		12.00		19.05
KM-21-40		627.9		680.8		52.9		0.47		2.91		3.40		35.7		0.40		3.93		6.44		10.22		2.92		4.78		7.59
including		641.1		648.3		7.2		1.15		7.66		8.27		88.5		0.92		9.90		16.23		25.76		7.30		11.97		18.99
including		670.3		674.1		3.8		1.53		10.89		9.47		24.6		0.61		12.15		19.91		31.59		8.88		14.55		23.10
KM-21-41		462.6		559.3		96.7		1.04		1.54		2.66		40.8		0.35		3.41		5.59		8.86		2.69		4.41		6.99
including		503.2		514.2		11.0		0.99		5.34		8.17		106.3		1.63		8.59		14.08		22.35		6.50		10.65		16.91
including		546.7		558.1		11.4		5.86		5.83		3.24		185.4		0.04		12.14		19.90		31.58		9.42		15.44		24.49
including		553.1		556.9		3.8		7.11		9.55		5.70		505.8		0.09		19.16		31.41		49.84		14.29		23.43		37.18
KM-21-42		803.5		810.3		6.9		0.05		1.60		1.58		64.3		0.35		2.22		3.64		5.78		1.55		2.55		4.04
KM-21-42		835.5		839.7		4.3		0.63		2.46		2.15		21.7		0.21		3.18		5.20		8.26		2.36		3.86		6.13
KM-21-42		853.7		854.7		0.9		0.11		1.63		2.88		28.0		0.40		2.52		4.13		6.55		1.90		3.12		4.95
KM-21-42A		786.7		787.6		0.9		0.03		3.61		2.18		17.0		0.70		3.36		5.51		8.74		2.32		3.81		6.04
KM-21-42A		805.4		811.1		5.6		6.17		0.92		0.18		39.5		0.01		7.12		11.68		18.53		6.15		10.08		15.99
including		807.0		808.9		2.0		10.72		0.87		0.11		61.8		0.00		11.79		19.32		30.66		10.30		16.89		26.80
KM-21-42A		840.9		877.2		36.3		0.55		0.62		1.35		10.7		0.13		1.56		2.56		4.06		1.27		2.08		3.30
KM-21-42B		808.0		811.2		3.2		0.29		2.06		5.77		63.0		0.94		4.47		7.33		11.63		3.50		5.73		9.10
KM-21-42B		816.9		819.9		3.0		2.31		0.66		1.23		16.0		0.15		3.35		5.49		8.71		2.85		4.68		7.42
KM-21-42B		835.5		840.8		5.3		0.02		0.73		2.93		13.5		0.24		1.75		2.87		4.56		1.41		2.31		3.67
KM-21-42C		849.2		877.4		28.2		3.81		0.47		0.29		12.5		0.09		4.32		7.08		11.24		3.77		6.19		9.82
including		849.2		854.7		5.5		14.57		0.66		0.16		37.5		0.03		15.34		25.14		39.89		13.59		22.28		35.36
including		863.8		869.4		5.6		2.29		1.17		0.59		13.1		0.25		3.39		5.55		8.81		2.80		4.59		7.29
including		874.8		877.4		2.6		2.83		0.26		0.03		7.2		0.01		3.06		5.02		7.96		2.69		4.41		7.00
KM-21-42C		886.1		889.1		3.0		0.87		0.88		0.50		5.2		0.05		1.65		2.71		4.30		1.31		2.15		3.42
KM-21-43		583.7		607.1		23.4		0.39		0.25		3.68		3.1		0.02		1.98		3.25		5.15		1.73		2.84		4.50
including		598.9		599.8		0.9		0.50		0.18		11.30		3.0		0.03		4.99		8.17		12.97		4.45		7.29		11.57
KM-21-43		616.0		633.1		17.1		1.81		0.17		0.14		8.2		0.03		2.04		3.34		5.31		1.79		2.93		4.65
including		631.2		633.1		1.8		6.30		0.61		0.09		25.0		0.01		6.91		11.32		17.97		6.05		9.91		15.73
KM-21-44		353.4		377.3		23.9		0.34		0.97		2.52		18.3		0.33		2.12		3.47		5.50		1.68		2.76		4.38
including		354.0		356.6		2.6		0.23		2.14		7.97		38.9		0.68		5.06		8.29		13.15		4.07		6.67		10.58
KM-21-45		459.6		463.0		3.4		0.32		0.62		6.63		82.3		0.87		4.10		6.71		10.65		3.38		5.53		8.78
including		461.2		462.1		0.9		0.15		1.23		16.90		182.0		2.50		9.39		15.38		24.41		7.79		12.77		20.26
KM-21-46		350.4		362.9		12.4		0.66		2.61		3.69		40.6		0.39		4.08		6.69		10.61		3.10		5.08		8.06
including		350.4		353.3		2.8		0.77		5.19		6.83		107.0		0.72		7.58		12.42		19.70		5.61		9.20		14.60
KM-21-47		433.9		435.9		2.0		0.16		1.88		9.28		138.7		2.17		6.46		10.58		16.79		5.14		8.42		13.36
KM-21-48		605.2		610.7		5.5		3.54		0.45		0.19		12.7		0.05		4.00		6.55		10.40		3.49		5.71		9.07
KM-21-48		630.3		634.6		4.3		1.11		0.34		0.69		12.7		0.11		1.71		2.80		4.45		1.45		2.37		3.77
KM-21-48		685.5		696.8		11.3		0.98		0.05		0.06		4.2		0.02		1.07		1.75		2.77		0.94		1.54		2.45
KM-21-48		715.1		718.4		3.4		2.08		0.04		0.03		4.3		0.01		2.15		3.52		5.59		1.92		3.14		4.98
KM-21-48		723.0		724.5		1.5		1.54		0.07		0.06		4.0		0.02		1.64		2.68		4.26		1.45		2.38		3.78
KM-21-48		735.5		743.6		8.1		0.34		0.60		1.52		9.2		0.07		1.38		2.26		3.59		1.11		1.82		2.89

The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 80%. (2) Assumptions used in USD for the copper and gold Metal Equivalent calculations were metal prices of $4.63/lb Copper, $1937/oz Gold, $25/oz Silver, $1.78/lb Zinc, and $1.02/lb Pb. Assumed metal recoveries (rec.), based on a preliminary review of historic data by SRK and ProcessIQ², were 90% for each of copper, zinc, and lead, and 60% for each of gold and silver. The following equation was used to calculate copper equivalence: CuEq = Copper (%) (90% rec.) + (Gold (g/t) x 0.61)(60% rec.) + (Silver (g/t) x 0.0079)(60% rec.) + (Zinc (%) x 0.3844)(90% rec.) +(Lead (%) x 0.2203)(90% rec.). The following equation was used to calculate gold equivalence: AuEq = Gold (g/t)(60% rec.) + (Copper (%) x 1.638)(90% rec.) + (Silver (g/t) x 0.01291)(60% rec.) + (Zinc (%) x 0.6299)(90% rec.) +(Lead (%) x 0.3609)(90% rec.). Analyzed Metal Equivalent calculations are reported for illustrative purposes only. The metal chosen for reporting on an equivalent basis is the one that contributes the most dollar value after accounting for assumed recoveries.

Table 2 Continued. Full results of Phase 2 Drill Program at Kay Mine, Yavapai County, Arizona. The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 80%.

								Analyzed Grade										Analyzed Metal Equivalent						Metal Equivalent (including assumed recoveries)
Hole ID		From m		To m		Length m		Cu %		Au g/t		Zn %		Ag g/t		Pb %		Cu eq %		Au eq g/t		Zn eq%		Cu eq %		Au eq g/t		Zn eq%
KM-21-48A		538.0		539.5		1.5		0.31		1.17		2.79		29.0		0.52		2.44		4.01		6.36		1.92		3.14		4.99
KM-21-48A		687.9		696.9		9.0		1.64		0.36		0.79		7.9		0.01		2.23		3.66		5.80		1.92		3.15		5.00
including		687.9		688.8		0.9		0.15		1.53		5.35		5.0		0.01		3.18		5.21		8.27		2.57		4.21		6.68
including		694.9		696.0		1.1		8.36		0.80		0.10		40.0		0.03		9.21		15.10		23.96		8.05		13.19		20.93
KM-21-50		489.5		501.9		12.3		0.98		2.30		6.36		111.9		1.24		5.99		9.81		15.57		4.70		7.70		12.22
including		489.5		493.0		3.4		2.64		3.59		9.49		207.7		1.65		10.49		17.20		27.30		8.29		13.59		21.57
KM-21-50		509.0		562.1		53.1		0.44		0.84		1.28		35.8		0.27		1.79		2.93		4.65		1.37		2.24		3.56
including		538.1		545.6		7.5		0.28		1.94		2.62		112.8		0.82		3.55		5.81		9.23		2.57		4.21		6.68
KM-21-51B		860.5		870.2		9.8		3.00		0.13		0.10		6.5		0.05		3.18		5.21		8.27		2.82		4.63		7.35
including		864.7		865.6		0.9		8.70		0.09		0.09		16.0		0.10		8.93		14.64		23.24		7.99		13.09		20.78
KM-21-51B		881.5		884.2		2.7		0.52		0.22		0.62		28.3		0.14		1.15		1.88		2.98		0.92		1.51		2.40
KM-21-51B		893.7		903.4		9.8		1.51		0.10		0.06		4.4		0.01		1.63		2.67		4.24		1.44		2.36		3.74
including		898.2		899.3		1.1		6.56		0.11		0.10		15.0		0.04		6.79		11.13		17.67		6.06		9.93		15.75
KM-21-52		751.5		758.2		6.7		1.18		0.66		0.98		18.2		0.14		2.14		3.50		5.56		1.76		2.88		4.58
KM-21-52		787.5		789.6		2.1		0.04		1.27		1.68		28.5		0.22		1.73		2.84		4.50		1.26		2.06		3.27
KM-21-52A		763.7		793.1		29.4		0.25		1.12		1.36		51.6		0.47		1.97		3.22		5.11		1.44		2.36		3.75
including		763.7		764.9		1.2		0.38		3.01		8.69		132.0		1.68		6.97		11.43		18.13		5.41		8.87		14.07
including		771.8		774.5		2.7		1.39		2.46		4.59		116.4		1.82		5.98		9.81		15.56		4.66		7.63		12.12
including		781.5		787.6		6.1		0.31		2.63		1.64		119.5		0.65		3.64		5.97		9.47		2.51		4.12		6.53
KM-21-52A		801.3		802.5		1.2		0.42		0.90		1.29		82.0		0.17		2.15		3.52		5.59		1.57		2.58		4.09
KM-21-52A		818.8		820.2		1.4		0.39		1.62		1.29		188.0		0.36		3.45		5.65		8.96		2.36		3.86		6.13
KM-21-52A		831.2		852.4		21.2		0.05		0.91		0.80		27.2		0.29		1.19		1.95		3.10		0.84		1.38		2.19
including		837.0		841.6		4.6		0.03		2.16		1.34		69.0		0.79		2.59		4.24		6.73		1.77		2.90		4.60
KM-21-55		302.7		308.5		5.8		0.66		0.44		0.53		15.8		0.10		1.28		2.10		3.33		1.03		1.70		2.69
KM-21-56		434.6		435.9		1.2		1.53		0.39		0.13		19.0		0.01		1.97		3.23		5.12		1.66		2.72		4.31
KM-21-56		499.1		501.5		2.4		1.53		0.18		7.15		6.4		0.02		4.45		7.29		11.57		3.96		6.48		10.29
including		499.1		500.2		1.1		1.97		0.31		14.55		7.0		0.02		7.81		12.81		20.33		6.96		11.41		18.10
KM-21-56		524.0		525.0		1.1		0.97		0.12		0.07		5.0		0.03		1.12		1.83		2.91		0.97		1.59		2.53
KM-21-56		558.2		563.6		5.3		0.82		0.99		3.09		27.0		0.06		2.84		4.65		7.38		2.31		3.78		6.00
KM-21-56		577.0		578.2		1.2		0.02		1.66		0.47		5.0		0.02		1.26		2.06		3.27		0.81		1.34		2.12
KM-21-57		776.5		784.3		7.8		0.26		2.30		2.59		57.9		0.68		3.27		5.36		8.51		2.39		3.91		6.21
including		777.8		778.8		0.9		0.25		6.62		11.45		105.0		3.33		10.26		16.81		26.68		7.77		12.73		20.21
KM-21-57		819.9		835.5		15.5		1.29		2.17		2.58		90.9		0.27		4.39		7.19		11.41		3.33		5.47		8.67
including		824.0		827.5		3.5		3.69		4.67		3.81		228.5		0.29		9.88		16.19		25.69		7.49		12.28		19.48
KM-21-57		852.5		853.6		1.1		0.30		3.10		2.33		92.0		0.57		3.94		6.46		10.25		2.76		4.52		7.18
KM-21-57A		728.6		735.5		6.9		2.49		1.04		0.57		6.6		0.02		3.40		5.57		8.84		2.85		4.68		7.42
KM-21-57A		759.6		821.4		61.9		1.08		2.60		3.73		32.0		0.50		4.46		7.31		11.60		3.46		5.67		9.00
including		762.3		783.3		21.0		0.42		6.78		9.49		67.9		0.49		8.84		14.50		23.00		6.56		10.75		17.06
KM-21-58		577.0		586.4		9.4		0.43		1.28		2.48		41.3		0.47		2.59		4.25		6.74		2.00		3.28		5.20
KM-21-58		614.2		682.6		68.4		1.30		3.42		3.85		47.2		0.50		5.35		8.78		13.93		4.08		6.69		10.61
including		640.7		648.0		7.3		0.79		4.34		10.20		51.9		0.56		7.90		12.94		20.54		6.19		10.14		16.10
including		668.1		678.6		10.5		5.30		12.19		6.67		194.7		1.88		17.26		28.30		44.90		12.84		21.05		33.40
including		668.1		669.6		1.5		2.55		43.20		7.76		856.0		0.80		38.86		63.69		101.08		25.03		41.02		65.10
KM-21-58A		569.4		641.8		72.5		1.12		1.00		2.84		18.1		0.33		3.03		4.97		7.89		2.50		4.10		6.51
including		584.3		591.9		7.6		0.29		1.19		6.23		4.4		0.40		3.53		5.79		9.19		2.95		4.84		7.68
including		602.3		613.3		11.0		4.02		0.11		1.38		12.6		0.40		4.80		7.88		12.50		4.27		7.01		11.12
including		630.3		630.9		0.7		1.14		6.35		11.20		356.0		0.65		12.28		20.13		31.95		9.05		14.83		23.53
including		633.5		641.8		8.3		1.53		2.33		5.12		26.5		0.36		5.20		8.53		13.53		4.19		6.87		10.91
KM-21-58A		665.5		676.0		10.5		0.12		2.90		3.88		167.5		1.92		5.13		8.41		13.34		3.69		6.04		9.59
including		672.5		676.0		3.5		0.12		6.89		6.40		332.0		3.81		10.26		16.82		26.70		7.19		11.78		18.69
including		673.6		674.5		0.9		0.28		19.65		12.65		844.0		10.20		26.07		42.74		67.82		17.86		29.27		46.45
KM-21-58B		543.2		627.6		84.4		1.05		2.38		3.44		23.8		0.55		4.13		6.77		10.75		3.23		5.29		8.39
including		571.2		582.5		11.3		0.51		5.27		9.96		35.4		1.52		8.18		13.40		21.27		6.31		10.34		16.41
including		605.3		622.7		17.4		3.20		6.19		4.18		40.9		0.22		8.96		14.69		23.31		6.83		11.20		17.78
including		609.6		612.0		2.4		1.45		17.73		7.97		82.5		0.44		16.08		26.35		41.81		11.03		18.07		28.68

The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 80%. (2) Assumptions used in USD for the copper and gold Metal Equivalent calculations were metal prices of $4.63/lb Copper, $1937/oz Gold, $25/oz Silver, $1.78/lb Zinc, and $1.02/lb Pb. Assumed metal recoveries (rec.), based on a preliminary review of historic data by SRK and ProcessIQ³, were 90% for each of copper, zinc, and lead, and 60% for each of gold and silver. The following equation was used to calculate copper equivalence: CuEq = Copper (%) (90% rec.) + (Gold (g/t) x 0.61)(60% rec.) + (Silver (g/t) x 0.0079)(60% rec.) + (Zinc (%) x 0.3844)(90% rec.) +(Lead (%) x 0.2203)(90% rec.). The following equation was used to calculate gold equivalence: AuEq = Gold (g/t)(60% rec.) + (Copper (%) x 1.638)(90% rec.) + (Silver (g/t) x 0.01291)(60% rec.) + (Zinc (%) x 0.6299)(90% rec.) +(Lead (%) x 0.3609)(90% rec.). Analyzed Metal Equivalent calculations are reported for illustrative purposes only. The metal chosen for reporting on an equivalent basis is the one that contributes the most dollar value after accounting for assumed recoveries.

Table 3. Results of Phase 1 Drill Program at Kay Mine, Yavapai County, Arizona. The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 80%.

Arizona Metals Kay Mine Drill Intercepts								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-20-01		275.8		281.5		5.6		0.57		0.48		1.20		11.6		0.18		156
including		275.8		276.5		0.6		0.50		1.22		5.04		32.0		0.73
including		279.8		281.5		1.6		1.21		0.98		1.49		22.6		0.23
KM-20-02		297.8		300.8		3.0		0.77		0.20		0.04		1.4		0.01		172
KM-20-03		256.3		259.1		2.7		3.40		1.01		0.65		69.6		0.09		120
including		256.3		257.3		0.9		7.42		1.79		1.11		56.0		0.17
KM-20-03		292.2		292.6		0.5		2.43		0.19		0.15		2.0		0.04		152
KM-20-03		295.4		295.8		0.5		1.35		0.80		0.91		6.0		0.06		154
KM-20-03A		252.4		256.9		4.6		3.70		2.55		0.27		35.6		0.03		122
including		252.4		253.1		0.8		9.74		6.34		0.40		164.0		0.11
KM-20-05		266.6		269.0		2.4		6.47		1.94		0.57		43.3		0.14		150
including		266.6		267.8		1.2		10.60		2.21		1.05		50.0		0.26
KM-20-06		267.9		281.5		13.5		1.02		0.85		1.23		45.6		0.30		158
including		267.9		268.4		0.5		1.54		2.20		6.10		31.0		0.81
including		276.6		281.5		4.9		1.86		0.87		1.96		92.1		0.42
including		280.0		281.0		1.1		3.22		1.03		0.64		340.0		0.04
KM-20-09		588.1		588.4		0.3		0.91		1.74		1.86		15.0		0.40		588
KM-20-09		613.4		614.1		0.7		0.90		1.81		1.04		10.0		0.08		612
KM-20-09		614.6		614.9		0.3		2.64		0.36		0.98		19.0		0.10		613
KM-20-09		632.8		638.9		6.1		0.12		4.18		8.02		41.7		0.82		575
including		633.6		637.9		4.4		0.15		5.46		9.06		33.1		0.50
including		636.9		637.9		1.1		0.17		9.77		14.65		68.0		0.78
KM-20-10		563.6		568.5		4.9		2.39		2.16		3.27		24.9		0.31		490
including		563.6		566.6		3.0		3.66		2.42		3.16		28.2		0.32
including		567.2		568.5		1.2		0.33		2.52		5.10		28.4		0.43
KM-20-10		574.2		574.9		0.6		0.12		4.33		11.30		113.0		0.16		498
KM-20-10		577.7		579.3		1.6		0.03		0.70		4.38		45.9		0.68		500
KM-20-10		582.3		583.1		0.8		0.03		0.42		2.90		51.0		1.07		502
KM-20-10A		521.2		522.5		1.3		2.13		1.27		7.46		51.1		0.91		437
KM-20-10A		527.9		538.6		10.7		1.32		1.66		2.58		27.2		0.30		442
including		527.9		529.4		1.5		6.69		0.92		1.62		30.2		0.07
including		532.2		535.3		3.1		0.72		1.75		2.99		34.3		0.42
including		537.2		538.6		1.4		0.16		7.29		9.06		79.2		0.60
KM-20-10B		503.0		530.7		27.6		0.87		0.97		1.76		21.3		0.32		423
including		503.0		509.6		6.6		1.78		1.55		2.55		29.8		0.37
including		513.9		518.3		4.4		1.08		1.89		4.05		47.4		0.68
including		527.2		530.7		3.5		1.91		2.32		3.93		52.9		0.99
KM-20-10C		523.9		530.7		6.8		0.58		3.32		5.84		102.0		1.15		422
including		523.9		528.2		4.3		0.88		4.89		7.61		125.2		1.45
including		525.6		526.4		0.8		0.52		16.65		21.40		214.0		2.76
KM-20-11		554.1		556.9		2.7		4.14		2.83		3.56		70.0		0.28		490
KM-20-12		371.9		376.7		4.9		3.99		0.37		0.62		12.4		0.07		318
including		371.9		373.7		1.9		8.49		0.67		1.53		28.0		0.16
KM-20-12		379.5		405.4		25.9		0.73		0.08		0.08		2.3		0.01		326
KM-20-13		443.6		486.8		43.1		1.68		1.26		1.67		23.3		0.24		341
including		444.4		459.6		15.2		3.42		1.80		2.36		38.5		0.39
including		444.4		447.1		2.7		1.02		3.74		10.64		55.0		1.88
including		451.4		455.8		4.4		8.41		1.18		0.16		65.3		0.02
KM-20-14		421.7		461.6		39.9		1.47		1.00		1.67		18.4		0.19		314
including		426.3		429.8		3.5		9.56		1.28		0.95		30.0		0.07
including		457.2		460.7		3.5		0.36		2.58		8.33		26.3		0.38
KM-20-14A		404.6		409.0		4.4		1.67		1.48		2.50		79.2		0.41		303
including		404.6		406.4		1.7		4.08		2.46		5.02		173.6		0.53
KM-20-14A		421.0		443.5		22.5		0.86		0.72		1.51		15.9		0.18		312
including		421.0		421.8		0.8		9.81		2.91		1.69		45.0		0.19
including		421.0		425.0		4.1		3.23		1.14		1.30		21.4		0.14
KM-20-15		506.8		510.1		3.3		0.05		0.33		3.73		192.0		1.75		402
KM-20-16		480.4		518.8		38.4		0.85		0.81		2.24		24.3		0.25		385
including		480.4		492.9		12.5		1.63		1.98		4.23		48.5		0.50
including		480.4		483.4		3.0		2.40		4.74		7.49		77.9		0.91
including		489.8		492.9		3.0		3.61		2.59		6.90		100.7		0.92

Table 4. Locations of Phase 1 and 2 Program drill holes completed 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		Distance Drilled Below Wedge m
KM-20-01		1		Pad 1		North		392684		3769388		643		78		-48		335		335
KM-20-02		1		Pad 1		North		392684		3769388		643		75		-50		304		304
KM-20-03		1		Pad 1		North		392684		3769388		643		72		-43.3		366		366
KM-20-03A		1		Pad 1		North		392684		3769388		643		72		-43.3		321		177
KM-20-04		1		Pad 1		North		392684		3769388		643		65.1		-47.5		354		354
KM-20-05		1		Pad 1		North		392684		3769388		643		73.3		-47.2		349		349
KM-20-06		1		Pad 1		North		392684		3769388		643		81.3		-48.3		317		317
KM-20-07		1		Pad 1		North		392684		3769388		643		85.6		-47.6		308		308
KM-20-08		1		Pad 2		South		392638		3769266		653		91.1		-77.1		36		36
KM-20-09		1		Pad 2		South		392638		3769266		653		92.1		-77		671		671
KM-20-10		1		Pad 2		South		392638		3769266		653		96.3		-72.2		645		645
KM-20-10A		1		Pad 2		South		392638		3769266		653		96.3		-72.2		600		297
KM-20-10B		1		Pad 2		South		392638		3769266		653		96.3		-72.2		555		258
KM-20-10C		1		Pad 2		South		392638		3769266		653		96.3		-72.2		560		277
KM-20-11		1		Pad 3		North		392552		3769328		638		57.3		-67.5		653		653
KM-20-12		1		Pad 1		North		392684		3769388		643		95.7		-70.8		583		583
KM-20-13		1		Pad 1		South		392684		3769388		643		124		-66.5		524		524
KM-20-14		1		Pad 1		South		392684		3769388		643		133.6		-66		550		550
KM-20-14A		1		Pad 1		South		392684		3769388		643		133.6		-66		549		263
KM-20-15		1		Pad 2		South		392638		3769266		653		106.7		-66.8		572		572
KM-20-16		1		Pad 2		South		392638		3769266		653		91.5		-68.9		581		581
KM-21-17		2		Pad 2		South		392638		3769266		653		90.5		-59.5		892		892
KM-21-18		2		Pad 2		South		392638		3769266		653		89.8		-55		518		518
KM-21-18A		2		Pad 2		South		392638		3769266		653		89.8		-55		472		236
KM-21-19		2		Pad 1		North		392684		3769388		643		59.3		-69.5		482		482
KM-21-20		2		Pad 2		North		392638		3769266		653		53.7		-67.3		553		553
KM-21-21		2		Pad 1		South		392684		3769388		643		126		-70		561		561
KM-21-21A		2		Pad 1		South		392684		3769388		643		126		-70		556		315
KM-21-22		2		Pad 3		Grav		392552		3769328		638		33		-63		725		725
KM-21-22A		2		Pad 3		Grav		392552		3769328		638		33		-63		694		419
KM-21-23		2		Pad 1		South		392684		3769388		643		114.2		-66.3		528		528
KM-21-24		2		Pad 1		South		392684		3769388		643		119		-75.1		623		623
KM-21-25		2		Pad 3		South		392552		3769328		638		80		-77.4		775		775
KM-21-25A		2		Pad 3		South		392552		3769328		638		80		-77.4		746		263
KM-21-25B		2		Pad 3		South		392552		3769328		638		80		-77.4		738		404
KM-21-26		2		Pad 1		South		392684		3769388		643		118.2		-79.3		616		616
KM-21-27		2		Pad 1		South		392684		3769388		643		90.4		-86.7		859		859
KM-21-27A		2		Pad 1		South		392684		3769388		643		90.4		-86.7		817		391
KM-21-27B		2		Pad 1		South		392684		3769388		643		90.4		-86.7		823		427
KM-21-28		2		Pad 3		South		392552		3769328		638		86.7		-70.5		774		774
KM-21-29		2		Pad 1		South		392684		3769388		643		108.5		-54		489		489
KM-21-30		2		Pad 4		Far North		392733		3769870		630		71.4		-53		539		539
KM-21-31		2		Pad 2		South		392638		3769266		653		115		-62		618		618
KM-21-32		2		Pad 1		South		392684		3769388		643		115		-45.6		496		496
KM-21-33		2		Pad 4		Far North		392733		3769870		630		106.5		-53		458		458
KM-21-34		2		Pad 1		North		392684		3769388		643		81		-59		430		430
KM-21-35		2		Pad 2		South		392638		3769266		653		102.5		-78.5		716		716
KM-21-36		2		Pad 4		Far North		392733		3769870		630		132		-50		350		350
KM-21-37		2		Pad 4		Far North		392733		3769870		630		20		-75		490		490
KM-21-38		2		Pad 1		N&S		392684		3769388		643		109.2		-71.8		554		554
KM-21-39		2		Pad 4		Far North		392733		3769870		630		355		-71		427		427
KM-21-40		2		Pad 2		South		392638		3769266		653		72.5		-80.4		742		742
KM-21-41		2		Pad 1		N&S		392684		3769388		643		112		-77		610		610
KM-21-42		2		Pad 3		South		392552		3769328		638		72.5		-86		958		958
KM-21-42A		2		Pad 3		South		392552		3769328		638		72.5		-86		929		334
KM-21-42B		2		Pad 3		South		392552		3769328		638		72.5		-86		888		309
KM-21-42C		2		Pad 3		South		392552		3769328		638		72.5		-86		953		389
KM-21-43		2		Pad 1		N&S		392684		3769388		643		103.5		-83.8		686		686
KM-21-44		2		Pad 1		South		392684		3769388		643		124		-42.8		431		431
KM-21-45		2		Pad 2		South		392638		3769266		653		102		-63.4		522		522
KM-21-46		2		Pad 1		South		392684		3769388		643		123.5		-45		412		412
KM-21-47		2		Pad 2		South		392638		3769266		653		97.6		-59.8		511		511
KM-21-48		2		Pad 1		South		392684		3769388		643		99		-86.5		784		784
KM-21-48A		2		Pad 1		South		392684		3769388		643		99		-86.5		740		435
KM-21-49		2		Pad 2		South		392638		3769266		653		73.3		-71		326		326
KM-21-50		2		Pad 2		South		392638		3769266		653		71.3		-74.3		636		636
KM-21-51		2		Pad 3		South		392552		3769328		638		20		-80.5		1017		1017
KM-21-51A		2		Pad 3		South		392552		3769328		638		20		-80.5		1013		611
KM-21-51B		2		Pad 3		South		392552		3769328		638		20		-80.5		986		635
KM-21-52		2		Pad 2		South		392638		3769266		653		65.2		-86.8		849		849
KM-21-52A		2		Pad 2		South		392638		3769266		653		65.2		-86.8		906		602
KM-21-53		2		Pad 1		South		392684		3769388		643		133.4		-45		582		582
KM-21-54		2		Pad 1		South		392684		3769388		643		127.5		-45		523		523
KM-21-55		2		Pad 1		South		392684		3769388		643		113		-45		479		479
KM-21-56		2		Pad 1		South		392684		3769388		643		106.7		-81		685		685
KM-21-57		2		Pad 2		South		392638		3769266		653		28		-85.2		1002		1002
KM-21-57A		2		Pad 2		South		392638		3769266		653		28		-85.2		857		308
KM-22-57B		2		Pad 2		South		392638		3769266		653		28		-85.2		887		354
KM-21-58		2		Pad 1		South		392684		3769388		643		106		-82.8		759		759
KM-21-58A		2		Pad 1		South		392684		3769388		643		106		-82.8		680		315
KM-21-58B		2		Pad 1		South		392684		3769388		643		106		-82.8		708		403

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.

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.” (Fellows, M.L., 1982, Kay Mine massive sulfide deposit: Internal report prepared for Exxon Minerals Company, November 1982, 29 p.) 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.

NEITHER THE TSX VENTURE EXCHANGE (NOR ITS REGULATORY SERVICE PROVIDER) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Not for distribution to US newswire services or for release, publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States

_______________________________________
¹ SRK Consulting (Canada) Inc., November 2020, Metallurgical Review, Kay Mine, Arizona. Report 5CS017.000
² SRK Consulting (Canada) Inc., November 2020, Metallurgical Review, Kay Mine, Arizona. Report 5CS017.000
³ SRK Consulting (Canada) Inc., November 2020, Metallurgical Review, Kay Mine, Arizona. Report 5CS017.000

View source version on businesswire.com: https://www.businesswire.com/news/home/20220323005348/en/

For further information, please contact:

Marc Pais

President and CEO Arizona Metals Corp.

(416) 565-7689

mpais@arizonametalscorp.com

www.arizonametalscorp.com

https://twitter.com/ArizonaCorp

Source: Arizona Metals Corp.

FAQ

What were the results of the recent drill holes for AZMCF at Kay Mine?

The recent results from six drill holes at Arizona Metals' Kay Mine project showed significant mineralization, with hole KM-21-58 intersecting 68.4 m at a grade of 6.7 g/t AuEq.

How many drill holes are pending for Arizona Metals at Kay Mine?

Arizona Metals has 20 additional drill holes pending at its Kay Mine project, which continue to indicate substantial mineralization.

What is the funding status for Arizona Metals' drilling programs?

Arizona Metals is fully funded to complete the remaining 30,000 meters of its Phase 2 drilling program, as well as an additional 76,000 meters in the upcoming Phase 3 program.

What are the implications of the recent drill results for AZMCF stock?

The positive drill results indicate strong continuity and potential for significant mineral resource definition, which may positively impact AZMCF stock.