Additional Private Lands At Kay Mine Project To Be Acquired

TORONTO - Arizona Metals Corp. (AMC) has entered into a purchase and sale agreement with an arm's length California-based public company to acquire 100% of a private land parcel totaling 46.4 acres, located 950 metres northeast of its Kay Mine Deposit. The Property includes the surface, mineral, and water rights, among other rights and benefits.

Marc Pais, CEO, said, "The acquisition of the Property is another significant de-risking step in moving the Kay Mine Deposit closer to a production decision. Including the 71 acres of patented land that host our Kay Mine Deposit, this acquisition will increase our total holdings of private and patented land to 224 acres. The Property is contiguous with and adjacent to the 107 acres of patented land (including water rights and wells) acquired in January 2021. The additional flat land we are acquiring increases the private land suitable for future mine infrastructure by more than 40%, and is in-line with our vision of a minimally-disruptive operation.

We believe that our Kay Mine Project has the potential to become one of Arizona's newest and highest-grade copper-gold-zinc-silver mines, with the main deposit and potential for all infrastructure to be located on private land. This would allow for a small footprint while also providing high-paying jobs to the local community of Black Canyon City. The Kay Mine Project already has the benefit of being only an hour north of Phoenix, with excellent access to infrastructure, including rail, roads, water, and power. The acquisition announced today will provide the potential for an expanded operation, increased flexibility in mine design, and accelerated permitting timelines."