ARIZONA METALS CORP - AZMCF STOCK NEWS

Arizona Metals Corp. (OTCQX:AZMCF) has announced promising metallurgical testing results from its Sugarloaf Peak Project, achieving an average gold recovery of 76% and up to 95% in oxidized zones. The project holds an estimated 100 million tons with 1.5 million ounces of gold at a grade of 0.5 g/t. Significant drill results include hole SP-20-01, which intersected 137 m at 0.53 g/t gold. The deposit's potential for expansion below 111 m depth was highlighted, with ongoing metallurgical testing expected to yield further insights.

Arizona Metals Corp. announced a significant discovery of a new gold-rich zone at the Kay Mine, with all seven recent drill holes intersecting massive sulphide mineralization. Highlights include Hole 25, which revealed 79 m of 7.0 g/t AuEq and Hole 24 with 91 m of 4.7 g/t AuEq. The new high-grade intervals are located outside the historic resource area, indicating substantial potential for additional gold-zinc mineralization. The company plans to continue drilling and expand exploration into underexplored regions, with increased drill rig capacity and ongoing permitting efforts.

Arizona Metals Corp. announced results from a petrographic study of the Kay Mine mineralization, confirming its similarity to other VMS deposits. Key findings include chalcopyrite as the primary copper mineral and sphalerite for zinc, with low galena content. The study indicates favorable conditions for conventional mineral processing, supported by abundant carbonate materials. CEO Marc Pais highlighted the de-risking of the project towards production, alongside an increase in the Kay Mine Phase 2 drill program to 75,000m. The company owns 100% of the Kay Mine Property with historic reserves estimated at 6.4 million short tons.

Arizona Metals Corp (OTCQX: AZMCF) will be presenting live at VirtualInvestorConferences.com on February 18, 2021, at 10:30 AM EST. Marc Pais, President and CEO, invites investors to join this interactive online event.

Key highlights include:

• Initiated Phase 2 drill program at Kay Mine.
• High-grade copper and gold intersections from previous drilling.
• Ownership of Kay Mine and Sugarloaf Peak properties.

Pre-registration is recommended for participation.

Arizona Metals Corp. (TSXV: AMC, OTCQB: AZMCF) announced the mobilization of a second drill rig to the Kay Mine property as of February 3, 2021, enhancing its fully-funded Phase 2 drilling program. This expansion involves at least 11,000 meters across 29 core drill holes, targeting new VMS lenses and extensions of known structures. The CEO emphasized the commitment to community and environmental standards. Additionally, the company granted 200,000 stock options at $1.00 per share, expiring in 2026. Drilling results will be critical for advancing towards production decisions.

Arizona Metals Corp. has closed an oversubscribed private placement, raising $10 million through the sale of 10,526,315 common shares at $0.95 each. The funds will be used to acquire 107 acres of land near the Kay Mine and to support exploration and drilling activities. The company now holds over $14 million in cash and plans to expand its Phase 2 exploration program. The Offering's completion is pending TSX Venture Exchange approval, and all securities are subject to a hold period ending May 27, 2021.

Arizona Metals Corp. (TSXV:AMC, OTCQB:AZMCF) has announced a restatement of its financial statements for the periods ending June 30, 2020, and September 30, 2020. This action was taken following a review by management and auditors related to the company's application for OTCQX listing. Key adjustments included correcting an understatement of exploration expenditures and professional fees, alongside liability and equity adjustments. The restatement does not alter the company's cash position, and previously filed documents should no longer be relied upon.

Arizona Metals Corp. (TSXV:AMC, OTCQB:AZMCF) has initiated the Phase 2 expansion drilling program at the Kay Mine, aiming to expand its resources significantly beyond the historical estimate of 5.8 million tonnes by Exxon Minerals in 1982. The fully-funded program consists of up to 11,000 meters in 29 core drill holes targeting new VMS lenses. Recent analyses have bolstered confidence in discovering additional mineralized zones, with previous drill results indicating promising copper equivalent grades. Permitting for additional targets is also progressing.

Arizona Metals Corp. (TSXV:AMC, OTCQB:AZMCF) announces an increase in its non-brokered private placement, expanding the offering from 5,263,158 shares at $0.95 per share (totaling $5 million) to 10,526,319 shares for up to $10 million due to strong demand. The funds will support the acquisition of land near the Kay Mine Project and facilitate an expanded Phase 2 drilling program beyond the initially planned 11,000 meters. The offering is subject to TSX Venture Exchange approval, with securities under a four-month hold period.