Arizona Metals Corp. announced the latest drill results from the Kay Mine Project in Arizona. Nine new drill holes at the Kay Mine Deposit all mineralized, continue to demonstrate the continuity and expansion potential of the deposit, particularly in extending mineralization toward surface through shallow drilling.

The final hole assayed from deeper drilling at the Western Target demonstrates the presence of gold mineralization to a depth of almost 1 km. KM-23-117; Three intervals: 65.6 m @ 3.5 g/t AuEq, 5.4 m @ 5.3 g/t AuEq, and 2.7 m @ 1.6 g/t AuEq. This hole is in the center of the Kay Deposit, filling an 80 m gap between holes KM-22-60 and KM-21-25.

It demonstrates excellent continuity and elevated gold grades in this portion of the Kay Deposit. KM-23-117 returned among the highest gold grades on the Property to date, including 21.9 g/t Au (614.4-614.9 m). KM-23-122; 32.1 m @ 1.3% CuEq.

This hole is located in the upper third of the Kay Deposit and filled in a 70 m gap between holes KM-21-18A and KM-21-17. KM-23-124; Two intervals: 16.5 m @ 0.8% CuEq, and 5.8 m @ 0.7% CuEq. This hole confirmed continuous mineralization in a 70 m gap between previous holes KM-20-14A and KM-21-29.

KM-23-126; Two intervals: 10.5 m @ 1.0 % CuEq, and 3.1 m @ 0.8% CuEq. This hole is located in the upper middle portion of the Kay Deposit, filling in an 80 m gap between previous holes. Western Target Drilling; KM-23-118; 1.8 m @ 1.8 g/t AuEq and 1.5 m @ 2.1 g/t AuEq.

This hole penetrated the western mineralized horizon of the Property in two locations, on each side of the principal anticline present on the Western Target. The deeper, westernmost of the two intercepts (1.5 m @ 2.1 g/t AuEq) intersected the consistent mineralized horizon intersected in all seven of the other Western Target drill holes, confirming its presence at depth, approximately 1 km below surface. Kay Mine Deposit Shallow Drilling; KM-23-119; 9.2 m @ 1.0% CuEq, including 1.6 m @ 2.8% CuEq.

This hole is part of the shallow drilling program at the Kay Deposit, extending mineralization toward surface. It showed continuity in the 65-meter gap between holes KM-23-116 and KM-21-55. KM-23-120; Three intervals: 2.9 m @ 1.7% CuEq, 2.6 m @ 1.2% CuEq, and 1.8 m @ 1.5% CuEq.

Among the shallowest of the Kay Deposit holes, KM-23-120 extended mineralization 30 m above KM-23-116 and is approximately 50 m below ground surface. Hole 120, along with holes 119 and 121 extended mineralization a total of 100 m upward above the previously shallowest drill hole in this area, KM-21-55. KM-23-121; Three intervals: 1.8 m @ 1.7% CuEq, 6.3 m @ 0.7% CuEq, and 2.4 m @ 0.5% CuEq.

Stepping out approximately 30 m north of KM-23-119, this shallow Kay Deposit hole demonstrated continuing mineralization at shallow depths in this area, and a substantial extension of approximately 105 m upward above hole KM-23-98. KM-23-123; 28.1 m @ 1.0% CuEq, including 4.1 m at 2.8% CuEq. This shallow hole added considerable volume to the Kay Deposit, stepping out 160 m above hole KM-23-114 and 45 m south of KM-23-120.

KM-23-125; Two intervals: 6.1 m @ 1.4% CuEq and 10.4 m @ 1.5% CuEq; This shallow hole demonstrates good continuity in the mineralization drilled in the shallow Kay Deposit holes, falling between holes 114, 116, 120, and 123. Altogether, the shallow drill holes drilled to date in the shallow portions of the Kay Deposit extend mineralization approximately 110 m upward along a strike length of about 130 m. The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 76%. (2) Assumptions used in USD for the copper and gold metal equivalent calculations were metal prices of $4.63/lb Copper, $1,937/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 93% for copper, 92% for zinc, 90% for lead, 72% silver, and 70% for gold. The following equation was used to calculate copper equivalence: CuEq = Copper (%) (93% rec.) + (Gold (g/t) x 0.61)(72% rec.) + (Silver (g/t) x 0.0079)(72% rec.) + (Zinc (%) x 0.3844)(93% rec.) +(Lead (%) x 0.2203)(93% rec.). The following equation was used to calculate gold equivalence: AuEq = Gold (g/t)(72% rec.) + (Copper (%) x 1.638)(93% rec.) + (Silver (g/t) x 0.01291)(72% rec.) + (Zinc (%) x 0.6299)(93% rec.) +(Lead (%) x 0.3609)(93% 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.