Arizona Metals Corp Announces Discovery of New Gold-Zinc Zone at the Kay Mine: Hole 25 intersects 79 m of 7.0 g/t AuEq (incl. 9 m of 18.1 g/t AuEq and 11 m of 14.7 g/t AuEq)

Hole 24 intersects 91 m of 4.7 g/t AuEq (incl. 20 m of 9.2 g/t AuEq and 16 m of 6.8 g/t AuEq)

TORONTO–(BUSINESS WIRE)–#copper–Arizona Metals Corp. (TSX.V:AMC, OTCQX:AZMCF) (the “Company” or “Arizona Metals”) is pleased to announce the discovery of a new gold-rich zone of open-ended mineralization at the Kay Mine, in an area previously untested by historic drilling or exploration. In addition, all seven recently completed holes at the Kay Mine project in Yavapai County, Arizona, intersected massive sulphide mineralization.


Hole 25 intersected 79 m of 7.0 g/t AuEq, including two separate higher-grade intervals of 9 m grading 18.1 g/t AuEq and 11 m grading 14.7 g/t AuEq, from a vertical depth of 638 m.

Hole 24 intersected 91 m of 4.7 g/t AuEq, including two separate higher-grade intervals of 20 m grading 9.2 g/t AuEq and 16 m grading 6.8 g/t AuEq, from a vertical depth of 470 m. This hole also intersected a high-grade interval of 0.8 m grading 33.4 g/t AuEq (Figure 3).

The bulk of the mineralized intervals in holes 25 and 24 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 24 was drilled 104 m deeper than hole 21A which also intersected a broad zone of 65 metres of semi- to massive sulphides (assays pending), and hole 25 is 276 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.

In addition to the new discovery of the gold-zinc zone in holes 24, 25 holes 17, 18, 18A, 21 and 23 returned wide intervals of copper and gold in the South Zone area, extending the plunge of the hinge zone defined by Phase 1 drilling. Some highlights include:

  • Hole 18A, which intersected 32.5 m of 3.5 g/t AuEq
  • Hole 21, which intersected 42.8 m of 3.2 g/t Au Eq, including 4.8 m grading 6.7 g/t AuEq
  • Hole KM-21-17, which intersected 20 m of 3.0% CuEq (incl. 4.6 m of 6.4% CuEq). This hole is located 41 m above hole KM-20-13 drilled in 2020, which intersected 43 m grading 3.9% CuEq, including 15 m at a grade of 6.7% CuEq.

Marc Pais, CEO, commented “It is very common in VMS districts for deposits to show distinct zonation of copper-rich mineralization, alternating with gold-zinc mineralization. The historical record of the Kay Mine shows an almost exclusive focus by previous operators on the copper-rich mineralization, with exploration focused on depths above 450 m.

The new broad intervals of high-grade gold-zinc mineralization reported today, of 79 m in hole 25 and 91 m in hole 24, define 276 m of vertical plunge below hole 21A (for which assays are pending), in an area between the North and South Zones that make up the historic resource. This area was not historically explored and is open for expansion at depths below 450 m.

These discovery holes demonstrate the potential to define a significant tonnage of gold-rich zinc VMS mineralization, outside of the historic resource defined by Exxon in 1982. Drilling at Kay continues to confirm that the deposit was historically underexplored, despite being part of a rich mineralized system. Based on copper prices of under US$1.00/lb during the 1970s and 1980s, Exxon’s exploration work employed a cut-off grade of 2.5% CuEq.

We believe that as a result, historic exploration overlooked large areas of mineralization in the immediate vicinity of both the Kay historic estimate and surroundings. This will become even more important as we move the drills north and south on strike, to recently completed pads. On completion of the strike testing, the drills will move west to the Central and Western targets, to test for new satellite deposits in previously undrilled areas.”

Additional results include hole KM-21-18, which intersected 25.5 m of 2.7 g/t AuEq, from a depth of 255 m.

In the North Zone, hole KM-21-19 intersected an interval of 0.5 m at a grade of 17 g/t AuEq, from a vertical depth of 337 m. Hole KM-21-20 intersected 0.9 m of 7.1 g/t AuEq and 2.1 m of 3.1 g/t AuEq, from a vertical depth of 362 m. Drilling is currently underway to target an area laterally between holes 19 and 20, which the Company believes has the potential to host a North Zone hinge, similar to the thick hinge encountered in recent South Zone drilling.

Holes KM-21-21A, KM-21-25A, KM-21-25B, KM-21-26, and KM-21-27 have been completed and submitted to ALS Laboratories of Tucson, Arizona for assaying. These holes were drilled to test for the down-plunge and lateral extensions of the broad intervals of gold-zinc mineralization encountered in the holes announced today.

Kay Mine Permitting Update and Addition of Third Drill Rig

Permitting and bonding for Kay Mine strike extension pads 4, 5, 6 were completed in March 2021, and pad construction was recently completed. 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. A third drill rig is scheduled to arrive at site later this month, and will start drilling at pad 4, located 500m north of the Kay Mine.

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.

Webinar on Thursday, May 27th, 2021 at 11am ET: Please join Company management to discuss today’s results. Register here:

https://us02web.zoom.us/webinar/register/WN_2OnNWvi8Rjadug-QuHkV0Q

Table 1. Results of Phase 2 Drill Program at Kay Mine, Yavapai County, Arizona

Hole ID From m To m Length m Cu eq % Au eq g/t Zn eq% Au g/t Ag g/t Cu % Pb % Zn % Vertical
Depth Below
Surface m
KM-21-17

429.5

449.9

20.4

2.99

5.27

10.34

1.10

21.2

1.81

0.17

1.20

300

including

429.5

434.0

4.6

6.44

11.34

22.26

1.73

29.1

4.61

0.24

1.91

including

432.7

434.0

1.4

7.35

12.94

25.39

6.81

40.0

0.52

1.10

8.29

KM-21-17

504.4

505.4

0.9

3.96

6.98

13.70

4.73

9.0

1.19

0.00

0.05

356

KM-21-18

404.3

429.8

25.5

1.51

2.66

5.23

0.86

15.8

0.35

0.23

1.71

255

including

408.6

410.6

2.0

4.57

8.05

15.80

2.22

64.4

0.50

0.82

7.25

including

424.9

427.3

2.4

4.25

7.49

14.70

2.59

18.0

1.60

0.52

3.16

KM-21-18A

391.4

423.8

32.5

1.99

3.50

6.86

0.62

17.6

1.09

0.15

1.25

233

including

393.3

395.8

2.4

12.37

21.79

42.75

2.83

40.9

9.57

0.28

2.72

KM-21-19

377.8

378.3

0.5

9.75

17.16

33.68

5.59

128.0

3.39

0.63

6.83

337

KM-21-20

442.7

443.6

0.9

4.05

7.14

14.01

0.52

18.5

2.56

0.14

3.52

362

KM-21-20

456.0

458.1

2.1

1.79

3.15

6.17

0.35

6.0

1.49

0.04

0.14

370

KM-21-21

452.6

495.5

42.8

1.84

3.23

6.35

0.78

15.1

0.80

0.15

1.52

362

including

488.7

493.5

4.8

3.80

6.69

13.13

2.50

27.6

0.26

0.54

6.13

KM-21-21A

422.0

431.4

9.4

2.29

4.04

7.92

0.57

8.6

1.17

0.36

2.25

362

KM-21-21A

439.1

502.1

63.0

2.75

4.85

9.52

1.30

58.8

0.45

0.77

3.14

366

including

465.0

481.9

16.9

3.99

7.02

13.78

2.47

80.9

0.52

0.99

4.05

KM-21-23

394.4

401.4

7.0

1.82

3.20

6.29

0.93

13.5

0.36

1.17

1.94

313

KM-21-23

438.6

459.2

20.6

1.73

3.04

5.96

1.20

27.8

0.17

0.37

1.93

336

KM-21-24

501.2

592.1

90.8

2.65

4.67

9.17

1.33

44.3

0.45

0.41

3.42

470

including

501.2

521.7

20.4

5.23

9.21

18.07

1.70

113.1

1.34

0.66

6.35

including

520.9

521.7

0.8

18.95

33.37

65.47

16.50

574.0

1.75

1.22

9.55

including

575.9

592.1

16.2

3.85

6.78

13.31

2.50

44.4

0.16

0.79

6.00

including

588.7

590.4

1.7

13.17

23.20

45.52

9.98

18.2

0.47

0.13

23.70

KM-21-25

662.6

741.3

78.6

3.98

7.01

13.76

2.33

43.4

1.41

0.35

2.79

638

including

663.2

672.7

9.4

10.29

18.12

35.55

1.84

92.3

8.06

0.15

1.31

including

693.0

703.9

11.0

8.34

14.68

28.81

6.28

99.7

0.68

1.17

10.40

(1) True widths of the reported mineral intervals have not been determined; additional drilling is required.

(2) Assumptions used in USD for the copper equivalent calculation were metal prices of $4.70/lb Copper, $1830/oz Gold, $27/oz Silver, $1.36/lb Zinc, $1.00/lb Pb and recovery is assumed to be 100% as no metallurgical test data is available. The following equation was used to calculate copper equivalence: CuEq = Copper (%) + (Gold (g/t) x 0.57) + (Silver (g/t) x 0.0084) + (Zinc (%) x 0.2894) +(Lead (%) x 0.2128).

Table 2. Results of Phase 1 Drill Program at Kay Mine, Yavapai County, Arizona

Hole ID From m To m Length m Cu eq % Au eq g/t Zn eq% Au g/t Ag g/t Cu % Pb % Zn % Vertical
Depth Below
Surface m
KM-20-01

275.8

281.5

5.6

1.70

1.61

0.48

11.6

0.57

0.18

1.20

156

including

275.8

276.5

0.6

4.23

4.01

1.22

32.0

0.50

0.73

5.04

including

279.8

281.5

1.6

3.10

2.94

0.98

22.6

1.21

0.23

1.49

KM-20-02

297.8

300.8

3.0

1.01

0.96

0.20

1.4

0.77

0.01

0.04

172

KM-20-03

256.3

259.1

2.7

5.41

5.13

1.01

69.6

3.40

0.09

0.65

120

including

256.3

257.3

0.9

10.32

9.78

1.79

56.0

7.42

0.17

1.11

KM-20-03

292.2

292.6

0.5

2.72

2.57

0.19

2.0

2.43

0.04

0.15

152

KM-20-03

295.4

295.8

0.5

2.61

2.47

0.80

6.0

1.35

0.06

0.91

154

KM-20-03A

252.4

256.9

4.6

6.85

6.49

2.55

35.6

3.70

0.03

0.27

122

including

252.4

253.1

0.8

18.19

17.24

6.34

164.0

9.74

0.11

0.40

KM-20-05

266.6

269.0

2.4

9.19

8.71

1.94

43.3

6.47

0.14

0.57

150

including

266.6

267.8

1.2

13.89

13.16

2.21

50.0

10.60

0.26

1.05

KM-20-06

267.9

281.5

13.5

2.92

2.77

0.85

45.6

1.02

0.30

1.23

158

including

267.9

268.4

0.5

6.73

6.38

2.20

31.0

1.54

0.81

6.10

including

276.6

281.5

4.9

4.54

4.30

0.87

92.1

1.86

0.42

1.96

including

280.0

281.0

1.1

7.82

7.41

1.03

340.0

3.22

0.04

0.64

KM-20-09

588.1

588.4

0.3

3.72

3.52

1.74

15.0

0.91

0.40

1.86

KM-20-09

613.4

614.1

0.7

3.32

3.15

1.81

10.0

0.90

0.08

1.04

KM-20-09

614.6

614.9

0.3

3.60

3.41

0.36

19.0

2.64

0.10

0.98

KM-20-09

632.8

638.9

6.1

8.23

7.80

4.18

41.7

0.12

0.82

8.02

575

including

633.6

637.9

4.4

9.81

9.29

5.46

33.1

0.15

0.50

9.06

including

636.9

637.9

1.1

16.92

16.03

9.77

68.0

0.17

0.78

14.65

KM-20-10

563.6

568.5

4.9

6.24

5.92

2.16

24.9

2.39

0.31

3.27

490

including

563.6

566.6

3.0

7.78

7.38

2.42

28.2

3.66

0.32

3.16

including

567.2

568.5

1.2

5.33

5.05

2.52

28.4

0.33

0.43

5.10

KM-20-10

574.2

574.9

0.6

10.09

9.56

4.33

113.0

0.12

0.16

11.30

498

KM-20-10

577.7

579.3

1.6

3.09

2.93

0.70

45.9

0.03

0.68

4.38

500

KM-20-10

582.3

583.1

0.8

2.42

2.29

0.42

51.0

0.03

1.07

2.90

502

KM-20-10A

521.2

522.5

1.3

7.07

6.70

1.27

51.1

2.13

0.91

7.46

437

KM-20-10A

527.9

538.6

10.7

4.40

4.17

1.66

27.2

1.32

0.30

2.58

442

including

527.9

529.4

1.5

8.59

8.14

0.92

30.2

6.69

0.07

1.62

including

532.2

535.3

3.1

4.17

3.95

1.75

34.3

0.72

0.42

2.99

including

537.2

538.6

1.4

12.24

11.60

7.29

79.2

0.16

0.60

9.06

KM-20-10B

503.0

530.7

27.6

2.87

2.72

0.97

21.3

0.87

0.32

1.76

423

including

503.0

509.6

6.6

4.79

4.54

1.55

29.8

1.78

0.37

2.55

including

513.9

518.3

4.4

5.29

5.01

1.89

47.4

1.08

0.68

4.05

including

527.2

530.7

3.5

6.68

6.33

2.32

52.9

1.91

0.99

3.93

KM-20-10C

523.9

530.7

6.8

7.65

7.25

3.32

102.0

0.58

1.15

5.84

422

including

523.9

528.2

4.3

10.60

10.05

4.89

125.2

0.88

1.45

7.61

including

525.6

526.4

0.8

29.15

27.62

16.65

214.0

0.52

2.76

21.40

KM-20-11

554.1

556.9

2.7

9.23

8.75

2.83

70.0

4.14

0.28

3.56

490

KM-20-12

371.9

376.7

4.9

4.76

4.51

0.37

12.4

3.99

0.07

0.62

318

including

371.9

373.7

1.9

10.10

9.57

0.67

28.0

8.49

0.16

1.53

KM-20-12

379.5

405.4

25.9

0.87

0.82

0.08

2.3

0.73

0.01

0.08

326

KM-20-13

443.6

486.8

43.1

3.94

3.73

1.26

23.3

1.68

0.24

1.67

341

including

444.4

459.6

15.2

6.71

6.36

1.80

38.5

3.42

0.39

2.36

including

444.4

447.1

2.7

10.14

9.61

3.74

55.0

1.02

1.88

10.64

including

451.4

455.8

4.4

10.34

9.80

1.18

65.3

8.41

0.02

0.16

KM-20-14

421.7

461.6

39.9

3.40

3.22

1.00

18.4

1.47

0.19

1.67

314

including

426.3

429.8

3.5

11.58

10.98

1.28

30.0

9.56

0.07

0.95

including

457.2

460.7

3.5

6.61

6.26

2.58

26.3

0.36

0.38

8.33

KM-20-14A

404.6

409.0

4.4

5.07

4.80

1.48

79.2

1.67

0.41

2.50

303

including

404.6

406.4

1.7

10.41

9.87

2.46

173.6

4.08

0.53

5.02

KM-20-14A

421.0

443.5

22.5

2.41

2.28

0.72

15.9

0.86

0.18

1.51

312

including

421.0

421.8

0.8

14.01

13.28

2.91

45.0

9.81

0.19

1.69

including

421.0

425.0

4.1

5.17

4.90

1.14

21.4

3.23

0.14

1.30

KM-20-15

506.8

510.1

3.3

4.24

4.02

11.25

0.33

192.0

0.05

1.75

3.73

402

KM-20-16

480.4

518.8

38.4

2.87

2.72

0.81

24.3

0.85

0.25

2.24

385

including

480.4

492.9

12.5

5.95

5.64

1.98

48.5

1.63

0.50

4.23

including

480.4

483.4

3.0

11.29

10.70

4.74

77.9

2.40

0.91

7.49

including

489.8

492.9

3.0

10.22

9.68

2.59

100.7

3.61

0.92

6.90

(1) True widths of the reported mineral intervals have not been determined; additional drilling is required

(2) Assumptions used in USD for the gold equivalent calculations were metal prices of $2.28/lb Copper, $1650/oz Gold, $15/oz Silver, $0.86/lb Zinc, $0.77/lb Pb and recovery is assumed to be 100% as no metallurgical test data is available. The following equation was used to calculate gold equivalence: AuEq = Gold (g/t) + (Copper (%) x 94.72) + (Silver (g/t) x 0.009) + (Zinc (%) x 35.73) +(Lead (%) x 31.99).

(3) Assumptions used in USD for the copper equivalent calculations were metal prices of $2.28/lb Copper, $1650/oz Gold, $16/oz Silver, $0.86/lb Zinc, $0.77/lb Pb and recovery is assumed to be 100% as no metallurgical test data is available. The following equation was used to calculate copper equivalence fo: CuEq = Copper (%) + (Gold (g/t) x 1.06) + (Silver (g/t) x 0.0096) + (Zinc (%) x 0.3772) +(Lead (%) x 0.3377).

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
KM-20-01

1

Pad 1 North

392684

3769388

643

78

-48

KM-20-02

1

Pad 1 North

392684

3769388

643

75

-50

KM-20-03

1

Pad 1 North

392684

3769388

643

72

-43.3

KM-20-03A

1

Pad 1 North

392684

3769388

643

72

-43.3

KM-20-04

1

Pad 1 North

392684

3769388

643

65.1

-47.5

KM-20-05

1

Pad 1 North

392684

3769388

643

73.3

-47.2

KM-20-06

1

Pad 1 North

392684

3769388

643

81.3

-48.3

KM-20-07

1

Pad 1 North

392684

3769388

643

85.6

-47.6

KM-20-08

1

Pad 2 South

392638

3769266

653

91.1

-77.1

KM-20-09

1

Pad 2 South

392638

3769266

653

92.1

-77

KM-20-10

1

Pad 2 South

392638

3769266

653

96.3

-72.2

KM-20-10A

1

Pad 2 South

392638

3769266

653

96.3

-72.2

KM-20-10B

1

Pad 2 South

392638

3769266

653

96.3

-72.2

KM-20-10C

1

Pad 2 South

392638

3769266

653

96.3

-72.2

KM-20-11

1

Pad 3 North

392552

3769328

638

57.3

-67.5

KM-20-12

1

Pad 1 North

392684

3769388

643

95.7

-70.8

KM-20-13

1

Pad 1 South

392684

3769388

643

124

-66.5

KM-20-14

1

Pad 1 South

392684

3769388

643

133.6

-66

KM-20-14A

1

Pad 1 South

392684

3769388

643

133.6

-66

KM-20-15

1

Pad 2 South

392638

3769266

653

106.7

-66.8

KM-20-16

1

Pad 2 South

392638

3769266

653

91.5

-68.9

KM-21-17

1

Pad 2 South

392638

3769266

653

90.5

-59.5

KM-21-18

2

Pad 2 South

392638

3769266

653

89.8

-55

KM-21-18A

2

Pad 2 South

392638

3769266

653

89.8

-55

KM-21-19

2

Pad 1 North

392684

3769388

643

59.3

-69.5

KM-21-20

2

Pad 2 North

392638

3769266

653

53.7

-67.3

KM-21-21

2

Pad 1 South

392684

3769388

643

126

-70

KM-21-21A

2

Pad 1 South

392684

3769388

643

126

-70

KM-21-22

2

Pad 3 North

392552

3769328

638

33

-63

KM-21-22A

2

Pad 3 North

392552

3769328

638

33

-63

KM-21-23

2

Pad 1 South

392684

3769388

643

114.2

-66.3

KM-21-24

2

Pad 1 South

392684

3769388

643

119

-75.1

KM-21-25

2

Pad 3 South

392552

3769328

638

80

-77.4

KM-21-25A

2

Pad 3 South

392552

3769328

638

80

-77.4

KM-21-25B

2

Pad 3 South

392552

3769328

638

80

-77.4

KM-21-25C

2

Pad 3 South

392552

3769328

638

80

-77.4

KM-21-26

2

Pad 1 South

392684

3769388

643

118.2

-79.3

KM-21-27

2

Pad 1 South

392684

3769388

643

90.4

-86.7

KM-21-27A

2

Pad 1 South

392684

3769388

643

90.4

-86.7

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.

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

Contacts

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