News Release

Arizona Metals Intersects 44.5 m @ 4.0 g/t AuEq, 18.6 m @ 2.1% CuEq, and 32.0 m @5.3 g/t AuEq in Kay2 Zone

May 27, 2025

Toronto, May 27, 2025 – Arizona Metals Corp. (TSX:AMC, OTCQX:AZMCF) (the “Company” or “Arizona Metals”) is pleased to announce assay results from five drill holes in the Kay2 Zone at the Kay Project in Arizona. 


Highlights


  • KM-25-180: 44.5 m @ 4.0 g/t AuEq, including 9.5 m @ 9.2 g/t AuEq and 0.9 m @ 21.7 g/t AuEq (Figure 1, Table 1). The hole is ~40 m south of KM-24-166, the Kay2 discovery hole.


  • KM-25-178: Three intervals — 18.6 m @ 2.1% CuEq, 8.4 m @ 1.9% CuEq, and 1.8 m @ 2.4 g/t AuEq (Figure 1, Table 1). This hole is ~45 m above KM-24-166.


  • KM-25-179: Three intervals — 32.0 m @ 5.3 g/t AuEq (including 6.1 m @ 10.9 g/t AuEq), 1.5 m @ 6.2% CuEq, and 7.6 m @ 1.0% CuEq (Figure 1, Table 1). The hole is 70 m above and south of hole 166, and 70 m above hole 180.


To date, drilling in the Kay2 Zone has demonstrated dimensions of ~100 m along strike and ~140 m vertically. Drilling shows good continuity in mineralization in the Kay2 Zone and adjacent mineralization in the main Kay deposit to the south. The Kay2 Zone is located approximately 100 m north of previously drilled mineralization in the Kay deposit.


Duncan Middlemiss, President and CEO of Arizona Metals, commented: “We are encouraged by the latest drill results from the Kay2 Zone, which continue to demonstrate significant expansion potential. The intercepts show substantial thicknesses, consistent grades, and strong continuity—key indicators of a robust mineralized system. These results reinforce our confidence in the Kay2 Zone and support our view that these results will contribute to the overall tonnage of the Kay deposit. We believe this will be clearly reflected in the updated mineral resource estimate, which remains on track for release in the second quarter of 2025.”


The Company also received approval for one additional drill pad from the Bureau of Land Management under the existing Notice of Intent to Explore permit. This pad provides additional opportunities to test the Kay North Extension target where the Kay mineralized horizon continues north from the Kay deposit. One drill hole in the Kay2 Zone, KM-25-176, encountered no significant assays (Table 1). Deep drill hole KM-25-177, targeted at the depth extension of the main Kay deposit, was lost before reaching target depth due to difficult drilling. With the completion of recent drill holes, Arizona Metals has drilled a total of 133,000 meters on the property.


Table 1. Results of Phase 3 Drill Program at the Kay Project, Yavapai County, Arizona (announced in this news release)

Notes: The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 76%. Assumptions used in USD for metal-equivalent calculations: $4.63/lb Cu, $1,937/oz Au, $25.20/oz Ag, $1.78/lb Zn, $1.02/lb Pb. Assumed recoveries (SRK & ProcessIQ preliminary review): Cu 93%, Zn 92%, Pb 90%, Ag 72%, Au 70%.
CuEq equation: CuEq = Copper (%)×(93% rec.) + [Gold (g/t)×0.61]×(70% rec.) + [Silver (g/t)×0.0079]×(72% rec.) + [Zinc (%)×0.3844]×(92% rec.) + [Lead (%)×0.2203]×(90% rec.).
AuEq equation: AuEq = Gold (g/t)×(70% rec.) + [Copper (%)×1.638]×(93% rec.) + [Silver (g/t)×0.01291]×(72% rec.) + [Zinc (%)×0.6299]×(92% rec.) + [Lead (%)×0.3609]×(90% rec.).
Analyzed metal-equivalent calculations are reported for illustrative purposes only; the metal chosen for reporting is the one contributing the most dollar value after assumed recoveries.

Figure 1.  Oblique section looking northeast, displaying new drill holes reported in this release. See Table 1 for constituent elements, grades, metal prices, and recovery assumptions used for AuEq (g/t) and CuEq (%) calculations. Analyzed metal-equivalent calculations are for illustrative purposes only.

About Arizona Metals Corp

Arizona Metals Corp owns 100% of the Kay Project in Yavapai County, 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. 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 Project was reported by Exxon Minerals in 1982 (Fellows, M.L., 1982, Kay Mine massive sulphide deposit: Internal report prepared for Exxon Minerals Company).


The Kay Project’s 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 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 Project 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 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 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 QA/QC protocol that includes the insertion of blind standard reference materials and blanks at regular intervals. Logging and sampling were completed at Arizona Metals’ core facilities in Phoenix and Black Canyon City, Arizona. Drill core was diamond sawn on site and half core was securely transported to ALS (Tucson) for preparation; pulps were analyzed at ALS Vancouver and Reno. Gold by fire assay, 30-g charge with ICP finish (Au-AA23). Silver and 32 other elements by ICP with four-acid digestion (ME-ICP61a). Over-limits by ore-grade analyses (Au-GRA21, Ag-OG62, Cu-OG62, Zn-OG62). ALS is independent of Arizona Metals; the Vancouver and Reno labs are ISO 17025 accredited. ALS internal and Arizona Metals external blind QC samples were acceptable. Arizona Metals is not aware of any drilling, sampling, recovery, or other factors that could materially affect data accuracy or reliability.


The qualified person who reviewed and approved the technical disclosure in this release is David Smith, CPG, a qualified person as defined in NI 43-101. Mr. Smith supervised the preparation of the scientific and technical information, reviewed the ALS reports, methodologies, results, and QA/QC procedures, and verified the data; 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 the expansion potential of the Kay Project; statements regarding drill results and future drilling of the Kay2 Zone and the main Kay deposit; statements regarding Kay2 Zone mineralization, and the contribution of the Kay2 Zone mineralization to the mineral resource estimate for the Kay deposit; and the mineral resource estimate being completed in Q2 2025 or at all. 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 include, but are not limited to: availability of the Company to stay well funded; 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.


THE TORONTO STOCK EXCHANGE HAS NEITHER REVIEWED NOR ACCEPTED 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

December 2, 2025
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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
June 30, 2025
Toronto, June 30, 2025 – Arizona Metals Corp. (TSX:AMC, OTCQX:AZMCF) (the “Company” or “Arizona Metals”) is pleased to announce an initial Mineral Resource Estimate (“MRE”) for its 100% owned Kay Mine Project (the “Kay Project”) located in Yavapai County, Arizona. Highlights of the Kay Project MRE are as follows:  The underground MRE includes 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, at a base-case cut-off grade of 1.00% CuEq. Copper equivalent MRE grades are 9.28 million tonnes @ 3.18% CuEq in the Indicated category and 0.86 million tonnes @ 2.44% CuEq in the Inferred category. Quality Asset: High grade, with good geometry and continuity suitable for bulk underground mining methods. Camp Potential: The initial MRE sits within less than 5% of the 10-km long strike of folded prospective host rocks in the Kay Project. Infill Potential: This initial MRE has clear potential to expand between existing drill holes within the deposit, and to upgrade Inferred resource. Expansion Potential: The deposit remains open for expansion beyond this initial MRE both along strike and at depth. Continued Advancement: Following the completion of additional metallurgical testwork, a preliminary economic assessment (“PEA”) is planned for release in the second half of 2025. The Company is delivering and executing on all of its previously stated goals for 2025 and looks forward to continuing the development of the Company’s strong assets. Duncan Middlemiss, President and CEO of Arizona Metals, comments: “The release of our initial Mineral Resource Estimate marks a major milestone for Arizona Metals and validates not only the scale, but more importantly, the quality of the Kay Project. With over 650 million pounds of copper equivalent in the Indicated category alone—and with the deposit remaining open in multiple directions—we see significant opportunity for expansion through continued drilling. We believe this resource represents just the beginning. With a strong treasury and a PEA on track for release later this year, we’re excited to advance the Kay Project toward becoming one of the top undeveloped VMS projects in the U.S.” Table 1. Kay Mine Property Underground Mineral Resource Estimate at a Base-case Cut-off Grade of 1.00% CuEq, June 17, 2025
June 26, 2025
Toronto, June 26, 2025 – Arizona Metals Corp. (TSX:AMC, OTCQX:AZMCF) (the “Company” or “Arizona Metals”) today announced the voting results of the annual and special meeting of shareholders of the Company convened and adjourned on June 18, 2025 and concluded today (the “Meeting”). Results of the Meeting The results of the vote in respect of the election of directors of the Company are set out below.
June 24, 2025
Toronto, June 24, 2025 – Arizona Metals Corp. (TSX:AMC, OTCQX:AZMCF) (the “Company” or “Arizona Metals”) is pleased to announce assay results from one drill hole in the Kay2 Zone at the Kay Project in Arizona. Drill hole KM-25-181 intersected 29.6 m @ 10.7 g/t AuEq, including 13.6 m @ 17.8 g/t AuEq (Figure 1, Table 1). Drill hole 181 is among the most gold-rich holes drilled in the deposit to date and includes the project’s third-highest gold assay from drilling: 35.8 g/t Au (756.2–757.1 m). The hole is located approximately 90 m below, and deeper in the deposit than, hole KM-24-166, the discovery hole in the Kay2 Zone. This is a significant intercept and will be incorporated in the upcoming Mineral Resource Estimate (“MRE”). Duncan Middlemiss, President and CEO of Arizona Metals, comments: “The high gold grades in the Kay2 Zone continue to indicate a robust mineralized system at Kay and illustrate additional potential for the Kay2 Zone to add value to the overall deposit. Results from hole 181 will be included in the upcoming mineral resource estimate for the Kay project, which remains on track for release this month.” To date, drilling in the Kay2 Zone has demonstrated dimensions of 100 m along strike and 160 m vertically, with consistently high gold grades throughout. The Kay2 Zone is located approximately 100 m north of previously drilled mineralization in the Kay deposit. With the completion of recent drill holes, Arizona Metals has drilled a total of 135,000 meters on the property. The Company is fully funded and on track to deliver a Mineral Resource Estimate this month, followed by a Preliminary Economic Assessment (“PEA”) in the second half of 2025, for its Kay Mine Project (the “Kay Project”) located in Yavapai County, Arizona. G Mining Services Inc. (“G Mining”) has been engaged to audit the MRE and complete the PEA. The current phase of resource drilling is complete, and the Company has mobilized the two drill rigs to the Kay North Extension target, to be followed by drilling on the North-Central and Western Targets. These areas will be drilled for the first time from newly-permitted and strategically positioned drill pads, designed to optimize targeting and access. The Company plans 10,000 m of exploration drilling at these targets with holes ranging from 300 m to 900 m in depth. The Company has chosen these high-priority targets based on analysis of geologic, geochemical, and geophysical exploration data generated to date on the project. 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-construction contractors have been chosen for the project, and the Company is preparing to mobilize crews during Q3. 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. Table 1. Results of Phase 3 Drill Program at the Kay Project, Yavapai County, Arizona (announced in this news release)
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