Kay Mine Deposit Ongoing Drilling Campaign

TORONTO - Arizona Metals Corp. reported on the ongoing drilling campaign at the Kay Mine Deposit in Arizona. Hole KM-23-106 intersected 25.0 meters grading 2.7% copper equivalent (CuEq), including 3.2 meters at 6.3% CuEq. At 17 m further downhole, this hole also intersected 49.2 meters at 2.4% CuEq (including 10.4 meters at 6.4% CuEq). At a further 10 m downhole, this hole also intersected 5.2 m at 1.0% CuEq. This hole confirms the high-grade copper and gold mineralization previously encountered in hole KM-21-21A, located 30 meters above, which intersected 63 m grading 4.2 g/t AuEq. Moreover, it continues the mineralization 30 meters above hole KM-22-41, which intersected 96.7 m grading 2.9% CuEq.

In addition to these promising results, drilling at the Western Target has been ongoing since February 2023. The first four holes, KM-23-104, branch hole KM-23-104A, KM-23-107, and KM-23-108 have been completed, and assays are currently pending. In order to continue testing the strike extent of the West Target, hole KM-23-109 is targeting an area approximately 150 meters south of KM-23-104. Hole KM-23-110 will target the area between holes KM-23-104 and KM-23-107, with the goal of testing beneath recently reported high-grade surface samples.

The drill rig at the Kay Mine Deposit is targeting extensions of the high-grade mineralization encountered in hole KM-23-103, which intersected 10.5 m grading 6.2% CuEq. This rig will also focus on areas with lower drill density, including the northern part of the deposit and shallow areas above a depth of 200 meters.  The Company intends to drill test all areas open to expansion. Independent consulting firms have been engaged to model drill data as holes are completed and assays become available. The Company intends to complete drilling of all priority targets before finalizing a maiden resource estimate.

Marc Pais, CEO, said, "The high-grade copper and gold drill results reported today continue to demonstrate the expansion potential of the Kay Mine Deposit, which we believe is part of a much larger property-wide mineralized system. We are also pleased to report that drilling of the fifth and sixth holes at the Western Target has commenced, following up visual mineralization previously reported in holes 104 and 104A. Downhole electromagnetic surveying of the first two Western Target holes has been completed and data are currently being analyzed. Surface outcrop sampling at the Western Target has returned significant grades of both copper and gold, extending the strike length of mineralization exposed at surface in this area to approximately 800 meters."