News Release

Arizona Metals Announces Results of Preliminary Economic Assessment for the Kay Mine Project

April 30, 2026

Toronto, April 30, 2026 – Arizona Metals Corp. (TSX:AMC, OTCQX:AZMCF) (the “Company” or “Arizona Metals”) is pleased to announce the results of a Preliminary Economic Assessment (“PEA”), supporting the initial mineral resource estimate for its Kay Mine Project (“the Project”) prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).


The full technical report, which is being prepared in accordance with NI 43-101, will be available on SEDAR+ (www.sedarplus.ca) under the Company’s issuer profile within 45 days.


This independent study was prepared by G Mining Services Inc. (“GMS”) and included the contributions of other recognized project expertise such as SGS Geological Services (“SGS”), WestLand Engineering & Environmental Services, and Haley & Aldrich.


Highlights

  • Base Case* After-Tax NPV5% of US$-6 million and IRR of 4.9% at US$4.70/lb copper, US$1.27/lb zinc, US$3,100/oz gold and US$38/oz silver.


  • Spot Case** After-Tax NPV5% of US$445 million and IRR of 14.9% at US$6.05/lb copper, US$1.57/lb zinc, US$4,745/oz gold and US$77.48/oz silver.


  • 127 Mlbs copper, 293 Mlbs zinc, 258 koz gold, and 4,712 koz silver of payable production over the 10 years of conceptual mine life (“CML”).


  • 2025 MRE (as defined herein): 9.28 Mt grading 3.18% CuEq in the Indicated category and 0.86 Mt grading 2.44% CuEq in the Inferred category.



The 2026 PEA is preliminary in nature and includes Inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the 2026 PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.


*Base Case based on historical price (source: MetalpriceAPI) and long term consensus as of March 3, 2026. (source: Broker Consensus Estimates from CIBC Capital Markets) 

**Spot Case based on average metal price of Wednesday April 22, 2026. (source: MetalpriceAPI)


Duncan Middlemiss, President and CEO of Arizona Metals, commented: “The results of the PEA establish the Kay Mine Project as a credible development opportunity, underpinned by a well-defined Indicated mineral resource and a fully costed mining scenario, which outlines our base case. This study included 6.6M tonnes of mineralized material mined, leaving the remainder of the 9.28M tonnes Indicated and 0.86M tonnes Inferred in the MRE to potentially be included in future studies, and their addition would be a key step in enhancing the economics of the base case. The indicated portion of the resource accounts for 92% of the June 2025 MRE tonnes, and a study prepared by GMS, a globally recognized mining consultancy with a strong track record of delivering high-quality technical work, has resulted in a credible base case. The involvement of a firm of this calibre reinforces our confidence in both the resource and the study itself and provides a strong technical foundation with a clear path forward. Importantly, the PEA captures only a portion of the broader opportunity we see at the Kay Mine Project, and the Spot Case sensitivity demonstrates the meaningful upside available under more supportive commodity price assumptions. The Kay Mine Project also remains open along strike and at depth, a key characteristic of many VMS systems globally, and we believe there is significant potential to grow the resource through continued exploration. At the same time, we are continuing our investigation of alternative processing technologies, which, together with supportive commodity price environments, could enhance project returns. Reductions in operating and capital costs could lower the cut-off grade and allow for the inclusion of additional resource tonnes in subsequent mining plans. Kay remains a compelling development opportunity in a top-tier jurisdiction. Its location provides access to infrastructure and skilled labour, while the underground design limits the surface footprint. With well-understood mining methods and Arizona’s mining-friendly environment, our focus now is on unlocking that upside and demonstrating the full scale of what the Kay Mine Project can become.”

About Arizona Metals Corp

Arizona Metals Corp. owns 100% of the Kay Mine Project in Yavapai County, Arizona, which is located on 1,669 acres of patented and BLM mining claims and 193 acres of private land that are not subject to any royalties. The Kay Mine Project contains a current mineral resource estimate (MRE) with an effective date of June 17, 2025, of 9.28 million tonnes grading 1.39 g/t Au, 27.6 g/t Ag, 0.97% Cu, 0.33% Pb and 2.39% Zn in the Indicated category, and 0.86 million tonnes grading 1.06 g/t Au, 15.4 g/t Ag, 0.87% Cu, 0.20% Pb and 1.68% Zn in the Inferred category, in each case at a base-case cut-off grade of 1.00% CuEq. Copper equivalent MRE grades are 9.28 million tonnes at 3.18% CuEq in the Indicated category and 0.86 million tonnes at 2.44% CuEq in the Inferred category. The 2026 PEA disclosed in this news release is based on the MRE and is preliminary in nature; it includes Inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the 2026 PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The Kay Mine Project is a steeply dipping VMS deposit that has been defined from a depth of 60 m to at least 900 m and remains open for expansion on strike and at depth.


The Company also owns 100% of the Sugarloaf Peak Project, in La Paz County, which is located on 4,400 acres of BLM claims. The Sugarloaf Peak Project is a heap-leach, open-pit target and has a historic estimate of “100 million short tons containing 1.5 million ounces gold” at a grade of 0.5 g/t (Dausinger, N.E., 1983, Phase 1 Drill Program and Evaluation of Gold-Silver Potential, Sugarloaf Peak Project, Quartzsite, Arizona: Report for Westworld Inc.)


The historic estimate at the Sugarloaf Peak Project 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 Phoenix 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, and Reno, Nevada, 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 and Reno facilities are 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 devised and monitored the Company’s QA/QC program in respect of the underlying drill data referenced in this news release is David Smith, CPG, a qualified person as defined in NI 43-101. Mr. Smith is the Vice-President, Exploration of the Company. Mr. Smith supervised the Company’s drill program and verified the data disclosed, including sampling, analytical and QA/QC data, 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. The scientific and technical information contained in this news release relating to the PEA, the mineral resource estimate and other technical aspects of the Kay Mine Project has been reviewed and approved by the independent Qualified Persons (as defined in NI 43-101) responsible for the relevant sections of the Study, as identified above under “Technical Report Preparation and Qualified Persons”.



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”, “does not expect”, “is expected”, “anticipates”, “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”, “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 the results, conclusions, projections, assumptions and economic and operating parameters of the 2026 PEA for the Kay Mine Project, including projected mine life, throughput, capital and operating costs, metal recoveries, payable production, net present value, internal rate of return, payback period and sensitivities thereto; statements regarding metal price assumptions; statements regarding the timing and content of the technical report supporting the PEA and its filing on SEDAR+; statements regarding the Company’s continued exploration, development and permitting activities at the Kay Mine Project, including the timing and outcome of the BLM Exploration Plan of Operations and other anticipated permits; statements regarding the potential to expand the Kay Mine Project Mineral Resources through continued drilling, including at depth and along strike; statements regarding the advancement of the Kay Mine Project through subsequent stages of technical study; statements regarding exploration activity, including drilling, at the Sugarloaf Peak Project; and statements regarding the Company’s expansion potential, mineralization, financing and corporate plans. In making the forward-looking statements contained in this press release, the Company has made certain assumptions, including, without limitation, assumptions regarding the accuracy of the MRE underlying the PEA; the validity of the technical, economic and operating assumptions used in the PEA (including assumed metal prices, exchange rates, recoveries, capital and operating costs, mining and processing methods, throughput, ramp-up profile, mine life and tax and royalty regimes); the availability of financing on acceptable terms; the timely receipt of required permits and regulatory approvals; the absence of material adverse changes in commodity prices, capital markets and the regulatory and political environment; and the continued availability of qualified personnel and key contractors. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that those expectations will prove to be correct. Known and unknown risks, uncertainties and other factors may cause actual results and future events to differ materially from those expressed or implied by the forward-looking statements. Such factors include, but are not limited to: the inherently preliminary nature of a PEA, including its reliance on Inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied to them and that may not ultimately be upgraded to higher-confidence categories or to Mineral Reserves; the risk that Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability; risks that the assumptions underlying the PEA, including capital and operating cost estimates, metal recoveries and metal prices, prove to be inaccurate; sensitivity of project economics to changes in commodity prices, exchange rates, capital costs and operating costs; the risk that further studies (including pre-feasibility and feasibility studies) yield results that differ materially from the PEA, or that Mineral Reserves are not ultimately established; the Company’s ability to obtain financing on acceptable terms or at all; delay or failure to obtain required permits, regulatory approvals or surface rights; environmental, social, taxation, title, legal, political, market, infrastructure and other risks affecting the development of the Kay Mine Project; risks relating to exploration and development of mineral properties generally; the risk that the technical report supporting the PEA is not filed within required timeframes; and general business, economic, competitive, political and social uncertainties. Additional risk factors are described in the Company’s continuous disclosure documents available under its issuer profile on SEDAR+ at www.sedarplus.ca, including the Company’s most recent Annual Information Form and Management’s Discussion and Analysis. 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.



Cautionary Note to United States Investors Regarding Mineral Resource Estimates


This news release uses the terms “Mineral Resource”, “Indicated Mineral Resource” and “Inferred Mineral Resource” as defined in the CIM Definition Standards on Mineral Resources and Mineral Reserves and in accordance with NI 43-101. While these terms are recognized and required by the Canadian Securities Administrators, they may not be recognized by the United States Securities and Exchange Commission. Mineral Resource estimates and related information in this news release may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder.



NEITHER THE TORONTO STOCK EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TORONTO STOCK EXCHANGE) 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.


For further information, please contact:


Morgan Knowles
Vice President of Investor Relations
(647) 202-3904

mknowles@arizonametalscorp.com


or


Duncan Middlemiss
President and CEO

dmiddlemiss@arizonametalscorp.com


www.arizonametalscorp.com
https://x.com/ArizonaCorp

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Recent News Releases

March 2, 2026
Toronto, March 2, 2026 – Arizona Metals Corp. (TSX:AMC, OTCQX:AZMCF) (the “ Company ” or “ Arizona Metals ”) is pleased to announce the third and final round of results from its 2025 reverse-circulation drill program on the Company’s Sugarloaf Peak Gold Project (the “Sugarloaf Peak Project”) in Arizona, which returned the highest gold grade on the project to date. Consistent with previous results from the Company’s 2025 drill program, these final drill results expand the deposit and they confirm excellent continuity of mineralization within an increasingly large gold deposit. Highlights of the drilling include: SP-25-28: 91.4 m @ 0.69 g/t Au, including 1.5 m @ 25.5 g/t Au, the highest gold grade on the property to date (including surface samples). This hole, along with hole 29, extended mineralization approximately 80 m to the south in a previously undrilled area (Figure 1). Hole 28 also intersected 57.9 m @ 0.29 g/t Au and 18.3 m @ 0.39 g/t Au (Table 1). SP-25-29: 123.4 m @ 0.31 g/t Au. This hole intersected a large thickness of mineralization starting at surface in a previously untested area on the southern margin of the deposit. Holes 29 and 28 (collared at the same location) show outstanding potential for continued expansion of the deposit laterally to the south/southwest and along strike to the southeast. SP-25-26: 56.4 m @ 0.43 g/t Au. Hole 26 tested a 270 x 340 m gap in the eastern end of the deposit and intersected thick mineralization, reinforcing the excellent continuity of mineralization at Sugarloaf Peak. All six of the final drill holes intersected mineralization, growing the deposit laterally and reinforcing the strong continuity of mineralization on the project. The total drilling to date on the project, in 2025 and 2026, comprises 5,186 m drilled in 25 reverse-circulation drill holes. Duncan Middlemiss, President and CEO of Arizona Metals commented: “We are very encouraged with these results from our 2025 drill program at Sugarloaf Peak. This has been the most successful drill campaign on the project to date, intersecting mineralization in 22 out of 25 holes, and showing significant expansion upside and excellent continuity of an already large gold deposit that crops out at surface. The Company’s drilling shows Sugarloaf to be a robust gold deposit, and we look forward to further developing its value.” Additional drill results are as follows: SP-25-24: 24.4 m @ 0.23 g/t Au and 30.5 m @ 0.32 g/t Au. This is an infill hole in a 225 x 475-m gap in the northwestern part of the deposit. SP-25-27: 51.8 m @ 0.30 g/t Au and 27.4 m @ 0.34 g/t Au. Hole 27 intersected thick mineralization in a 340 x 360-m gap in the eastern end of the deposit. The Company is currently conducting a comprehensive exploration synthesis consisting of 990 surface rock samples for multi-element geochemistry; IP-resistivity geophysics and airborne magnetic and radiometric geophysics; an airborne hyperspectral survey; geologic reviews of previous mapping, drill core, and drill cuttings; AI targeting studies; and a thorough integration of historical data. The intent of this exploration program is to integrate new modern geochemical, geophysical, and geologic data with historical data in order to comprehensively target drilling for expanded deposit size and higher gold grades. Table 1. Results of the drill program at the Sugarloaf Peak Project, La Paz County, Arizona, announced in this news release, including the depth of oxidized mineralization encountered in each hole.
February 12, 2026
Toronto, February 12, 2026 – Arizona Metals Corp. (TSX:AMC, OTCQX:AZMCF) (the “ Company ” or “ Arizona Metals ”) is pleased to announce assay results from nine drill holes from Kay Mine project (the “Kay Project”) located in Yavapai County, Arizona. Duncan Middlemiss, President and CEO of Arizona Metals, comments: “We are encouraged by the continued intersection of mineralization in drill holes targeting areas beyond the Kay deposit. This is characteristic of volcanogenic massive sulphide (VMS) systems, which commonly occur in clustered deposits, and supports our exploration strategy to systematically test the largely unexplored 10-kilometre strike length of highly prospective stratigraphy across the project. In addition, the Kay deposit continues to demonstrate strong geological continuity, and these latest drill results have the potential to meaningfully expand the overall resource volume.” David Smith, VP Exploration for Arizona Metals, said: “We continue to explore the extensive strike length of the prospective horizons at Kay, and we are pleased by the widespread evidence of mineralized systems on the property. These recent results show that the Northwest target warrants more drilling, and we have additional holes planned and underway.” Kay Deposit Within the Kay deposit, drill hole KM-25-195 intersected 22.4 m @ 1.1% CuEq in a shallow portion of the deposit where the MRE indicated that additional drilling was warranted (Figure 1). This drill hole proved continuity in this area of the deposit, which has the potential to add additional tonnage. Kay North Extension KM-25-190 intersected 2.4 m @ 0.7% CuEq along the northern extension of the Kay mineralized horizon (Figure 2). Northwest Target On the Northwest target, drill hole KM-25-197 intersected 0.3 m @ 0.9% CuEq. This hole was drilled to the east from Pad 15, into a previously untested portion of the prospective horizon on the property. It targeted a surface sample within a mapped mineral horizon that returned 3.2% Cu (Figure 3). Although narrow, this is an encouraging result in an unexplored area of the property. The Company is fully funded and on track to deliver a Preliminary Economic Assessment (“PEA”) for its Kay Mine deposit during the first quarter of 2026. Ongoing exploration on the Kay project includes 2,000 m of drilling in the first quarter, a property-wide hyperspectral airborne survey, and AI studies to refine exploration targeting. Total drilling on the Kay project to date is approximately 145,000 meters. Additionally, assays are pending for six drill holes from the Company’s 5,000-meter reverse circulation drilling at the Company’s Sugarloaf Peak Gold Project (the “Sugarloaf Peak Project”) in La Paz County, Arizona. Results received to date have been positive, returning broad intervals of mineralization that have significantly expanded the deposit footprint along strike, at depth, and laterally. Building on these initial positive results, the Company is advancing a comprehensive exploration program designed to further evaluate existing data while incorporating modern exploration techniques. This work will include geophysical surveys (IP-resistivity, magnetics, and radiometrics), geochemical programs (systematic surface rock sampling and hyperspectral airborne survey) and AI -driven data analysis. The objective of the integrated exploration program is to combine all past data with new, consistent, deposit-scale data in order to optimize drill targeting for programs planned later in 2026. Table 1. Results of Phase 3 Drill Program at the Kay Project, Yavapai County, Arizona announced in this news release.
January 13, 2026
Toronto, January 13, 2026 – Arizona Metals Corp. (TSX:AMC, OTCQX:AZMCF) (the “ Company ” or “ Arizona Metals ”) is pleased to announce the second round of results from its 2025 reverse-circulation drill program on the Company’s Sugarloaf Peak Gold Project (the “Sugarloaf Peak Project”) in Arizona. These drill results continue to expand the deposit laterally to the southwest, along strike both northwest and southeast, and at depth. They also confirm excellent continuity within the deposit. Highlights of the drilling include: SP-25-18: 199.6 m @ 0.29 g/t Au, including 15.2 m @ 0.54 g/t Au and 12.2 m @ 0.61 g/t Au. This long drill intercept confirmed the continuation of mineralization in a large area of sparse drill holes in the eastern portion of the deposit. These results warrant additional drilling in this area. SP-25-14: 89.9 m @ 0.32 g/t Au and 93.0 m @ 0.45 g/t Au. This hole is located in an undrilled portion in the center of the deposit and demonstrated excellent continuity among other encouraging drill holes. This drill hole includes the highest gold assay to date in the Company’s drilling, 12.57 g/t Au over 1.5 m (173.7-175.3 m), indicating good potential for higher grade within the deposit. SP-25-17: 51.8 m @ 0.31 g/t Au, 27.4 m @ 0.30 g/t Au, and 27.4 m @ 0.24 g/t Au. Stepping out 120 m to the south of previous drilling, this hole, together with SP-25-15, extended the deposit laterally to the southwest along 350 m of strike length. The Company’s nine drill holes in this area have added a broad swath along the southwestern part of the deposit that measures approximately 135 m wide and stretches along almost a kilometer of northwest-southeast strike length. A tenth hole in this area is pending assays. SP-25-21: 62.5 m @ 0.22 g/t Au and 38.1 m @ 0.32 g/t Au. Hole 21 extended mineralization 135 m west of previous drilling, indicating excellent expansion potential for the deposit to the west. Mineralization was intersected in the majority of drill holes and succeeded in expanding the deposit and demonstrating good continuity between widely spaced previous drill holes. Assay results from the remaining 6 drill holes are pending. The total drilling to date on the project, in 2025 and 2026, comprises 5,186 m drilled in 25 reverse-circulation drill holes. Duncan Middlemiss, President and CEO of Arizona Metals commented: “We are very encouraged by the continued expansion potential at Sugarloaf Peak. The results from this drill program have delivered a meaningful increase in the scale of the deposit, with strong continuity demonstrated along a broad southwest corridor where mineralization remains open and highly prospective. With six additional drill holes pending at the lab and active exploration underway to refine and prioritize further step-out targets, we believe Sugarloaf is well positioned for continued growth through additional drilling later this year.” Additional drill results are as follows: SP-25-16: 30.5 m @ 0.23 g/t Au. Drilled to the southwest at the same location as SP-25-17 (which was drilled to the northeast) this hole contributed to the southwesterly expansion of the deposit. SP-25-20: 19.8 m @ 0.37 g/t Au and SP-25-19: 13.7 m @ 0.37 g/t Au. These holes were drilled from the same pad, hole 19 to the southwest and hole 20 to the northeast. Together, they confirm mineralization expanding to the southwest of previous drilling. Table 1. Results of drill program at the Sugarloaf Peak Project, La Paz County, Arizona announced in this news release, including the depth of oxidized mineralization encountered in each hole.
December 2, 2025
Toronto, December 2, 2025 – Arizona Metals Corp. (TSX:AMC, OTCQX:AZMCF) (the “ Company ” or “ Arizona Metals ”) is pleased to announce the first round of results from its 2025 reverse-circulation drill program on the Sugarloaf Peak project in Arizona. Highlights of the drilling include: SP-25-09: 195.1 m @ 0.31 g/t Au, including 25.9 m @ 0.61 g/t Au. This was an infill hole in the center of the deposit, demonstrating excellent continuity and mineralization from surface. SP-25-11: 109.7 m @ 0.31 g/t Au, including 16.8 m @ 0.49 g/t Au. This was an infill hole in a 300 x 300 m gap in the north-central part of the deposit; together with holes 12 and 13, this confirms good continuity of mineralization in this area, adding significant volume to the deposit. SP-25-05: 134.1 m @ 0.29 g/t Au and 70.1 m @ 0.32 g/t Au. This was a twin of historic hole WW-9 in the central portion of the deposit. SP-25-12: 73.2 m @ 0.27 g/t Au and 41.1 m @ 0.30 g/t Au. This was an infill hole in a 300 x 300 m gap in the north-central part of the deposit. Mineralization was intersected in all nine drill holes assayed to date in an area covering 900 m along the strike of mineralization and 800 m in width. These initial drill results are consistent with the drill program goals, as these results demonstrate mineralization in all infill holes and extend mineralization in all step-out holes received to date. In several drill holes, mineralization was also extended at a depth below previous drilling by 40-75 m. Assay results from the remaining 16 drill holes are pending. The total drilling to date on the project, in 2025, comprises 5,186 m drilled in 25 reverse-circulation drill holes. Duncan Middlemiss, President and CEO of Arizona Metals commented: “We are pleased to confirm the expansion potential at Sugarloaf Peak. This is a very large mineralized system that our drilling has expanded, not only laterally but within the deposit. In particular, our drilling confirmed excellent continuity of mineralization, a real benefit in a bulk-mining open-pit scenario. We intend to continue to explore Sugarloaf Peak and test its size within the deposit, at depth, and along strike.” Additional drill results are as follows: SP-25-06: 21.3 m @ 0.20 g/t Au and 10.7 m @ 0.37 g/t Au. This hole extends mineralization 95 m southwest of previous drilling, increasing the width of mineralization. SP-25-07: 35.1 m @ 0.32 g/t Au. Infill hole in a 260-m gap along the southwestern edge of the deposit, confirming good continuity of mineralization in this area. SP-25-08: 15.2 m @ 0.22 g/t Au. Stepout hole 110 m southwest of hole 7. Together with hole 7, this extends mineralization almost 200 m southwest in this portion of the deposit. SP-25-10: 9.1 m @ 0.25 g/t Au. Stepout hole to the 135 m to the west of previous drilling, warranting follow-up drilling in this area. SP-25-13: Four intervals, including 35.1 m @ 0.40 g/t Au and 30.5 m @ 0.27 g/t Au. Infill hole in a 300 x 300 m gap in the north-central part of the deposit. This hole returned the highest individual assay in this round of drilling so far, 6.64 g/t Au (56.4-57.9 m). Table 1. Results of drill program at the Sugarloaf Peak Project, Yavapai County, Arizona announced in this news release, including the depth of oxidized mineralization encountered in each hole.
September 15, 2025
Toronto, September 15, 2025 – Arizona Metals Corp. (TSX:AMC, OTCQX:AZMCF) (the “ Company ” or “ Arizona Metals ”) is pleased to announce that Pamela L. Saxton has agreed to join its board of directors (the “ Board ”), with her appointment to take effect on September 17, 2025. Ms. Saxton brings more than 35 years of senior leadership and board experience in the mining and natural resources sectors. She currently serves on the boards of Bunker Hill Mining Corporation and Rare Element Resources Ltd. and has previously served as a director of Aquila Resources Inc. and Pershing Gold Corporation. Her executive management experience includes serving as Executive Vice President and Chief Financial Officer of Thompson Creek Metals Company, CFO of NewWest Gold Corporation, and Vice President of Finance for Franco-Nevada’s U.S. Operations. Trained as an accountant with Arthur Andersen & Company, Ms. Saxton has a proven record of financial governance, capital markets expertise, and value creation within the U.S. mining sector. She holds a B.Sc. in Accounting from the University of Colorado, Boulder, and is based in Denver, Colorado. Ms. Saxton is being appointed to the Board to fill a vacancy created by the departure of three of the Company’s independent directors. Michael Pilmer, Katherine Arnold, and Rosa Espinoza have each tendered their resignation from the Company’s Board of Directors to be effective September 17, 2025. Mr. Pilmer, Ms. Arnold and Ms. Espinoza were not re-elected by shareholders of the Corporation at the annual meeting of shareholders of the Company which concluded on June 26, 2025 (the “ Shareholder Meeting ”), however, as permitted by Canada Business Corporations Act,each graciously agreed to remain on the Board for a period following the Shareholder Meeting in order to facilitate an orderly transition and good corporate governance while the Company searched for and identified a qualified and suitable replacement director candidate. Arizona Metals wishes to thank Mr. Pilmer, Ms. Arnold, and Ms. Espinoza for their significant contributions and dedicated service to the Company. Duncan Middlemiss, President and CEO of Arizona Metals commented: “On behalf of the Company and the Board, I am very pleased to welcome Pam Saxton as an independent director. Pam’s extensive financial leadership and board experience in the mining sector will provide valuable insight and strengthen our governance as we advance our projects. I would also like to sincerely thank Mike, Katherine, and Rosa for their important contributions and commitment during their tenure with Arizona Metals.” Drill Results Arizona Metals is also pleased to announce assay results from one drill hole in the Kay2 Zone and four drill holes on the Kay North Extension at the Kay project in Arizona. In the Kay2 Zone within the Kay Deposit, KM-25-177A intersected 4.3 m @ 2.6% CuEq (Table 1, Figure 1). This extends mineralization 280 m below the previous deepest drill intercept on the property (KM-24-173, 2.4 m @ 2.7% CuEq), and brings the total down-dip length of drilled mineralization on the project to approximately 1,350 m. Drilling along the Kay North Extension target has extended drilled mineralization approximately 440 m to the north, demonstrating continuity of the Kay mineralized horizon in this direction (Table 1, Figure 2, Figure 3). Results from this drilling include 0.6 m @ 4.8% CuEq in KM-25-185 and 0.3 m @ 3.2% CuEq. Although narrow, these and other intercepts shown in Table 1 demonstrate a consistent horizon of mineralization stretching north from the Kay Deposit. Additional holes in this area intersected anomalous Cu, Zn, and Au along this same horizon and several other parallel horizons. Duncan Middlemiss, President and CEO of the Company, comments: “We are excited that these new drill results demonstrate depth potential in the Kay Deposit as well as on-strike potential to the north. Both are encouraging for expansion of the Kay Deposit and for our exploration efforts on targets outside the currently known Kay Deposit.” Additionally, 5,000 m of reverse circulation drilling is planned at the Company’s Sugarloaf Peak Gold Project (the “Sugarloaf Peak Project”) in La Paz County, Arizona. Drilling and road contractors have been chosen for the project and road crews have been mobilized. The geology team is ready and drilling is expected to begin in mid-September. As previously stated, the Company is executing on all of its previously-stated goals for 2025 and looks forward to continuing the development of the Company’s strong assets.
August 14, 2025
Toronto, August 14, 2025 – Arizona Metals Corp. (TSX: AMC, OTCQX: AZMCF) (the “Company” or “Arizona Metals”) is pleased to announce that, further to its news release dated June 30, 2025, the Company has filed the independent technical report supporting the first ever mineral resource estimate in respect of the Company’s Kay Mine Project. The technical report, titled “Technical Report On The Mineral Resource Estimate for the Kay Deposit Cu-Au-Zn-Pb-Ag Project, Yavapai County Arizona, USA,” has been filed on SEDAR+ in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). The technical report is dated August 14, 2025, with an effective date of June 17, 2025, and was authored by Allan Armitage, PhD, P.Geo., and Ben Eggers, MAIF, P.Geo., of SGS Geological Services (“SGS”) and Shaohai (Sam) Yu, P.Met, of SGS Bateman (“SGS”), each of whom is an independent Qualified Person as defined in NI 43-101. A copy of the technical report is available under the Company’s profile on SEDAR+ at www.sedarplus.com
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