Kay Deposit Continues To Demonstrate High-Grade Zones

TORONTO - Arizona Metals Corp. reported on three drill holes in the Kay2 Zone and one hole from the West target at the Kay project in Arizona. In the Kay2 Zone, drill hole KM-24-170C intersected 34.8 m @ 11.3 g/t AuEq, including 2.0 m @ 23.6 g/t AuEq and 4.0 m @ 19.1 g/t AuEq. One sample in this drill hole returned 33.5 g/t Au, the third highest gold assay on the project to date (691.1-691.7 m). The hole is located approximately 40 below hole KM-24-166, the discovery hole in the Kay2 Zone. A second drill hole in the Kay 2 Zone, KM-24-170B, intersected 4.7 m @ 1.0% CuEq. The Kay2 Zone is located approximately 100 m north of previously drilled mineralization in the Kay deposit.

Duncan Middlemiss, President and CEO, said, "We are very pleased that the Kay deposit continues to demonstrate high-grade zones, and that the Kay2 Zone shows good continuity. This hole was drilled to test and confirmed the continuity of mineralization in the vicinity of drill hole KM-24-166. We expect mineralization in these and other Kay2 Zone drill holes to add tonnage to the forthcoming mineral resource estimate for the Kay deposit, planned for H1 2025. Meanwhile, we continue to probe the vertical extents of both the Kay2 Zone and the main Kay deposit with deep drill holes. We are currently drilling two deep trunk holes (holes 176 and 177) below the Kay and Kay2 zones targeting around 1150 m below surface and will wedge these holes laterally and at successively higher elevations in order to determine the deeper extents of the mineralization. It is planned that the results of this deeper drilling could be included in the H1 -2025 mineral resource estimate."

The deep drill holes currently underway are intended to serve as trunk holes to allow multiple branch holes to further test the size of the Kay2 Zone and deeper Kay deposit mineralization. One drill hole in the Kay2 Zone, KM-24-173A, encountered no significant assays. An additional hole in the West target intersected the West target horizon: hole KM-24-175 intersected anomalous sulfide minerals and trace elements where expected within this mineralized horizon. With the completion of recent drill holes, Arizona Metals has drilled a total of 127,000 meters on the property.