33,000 Meters Of Core Drilling Completed At Kay Mine Deposit

TORONTO - Arizona Metals Corp. reported on both its Kay and Sugarloaf Projects. During 2022 it completed approximately 33,000 meters of core drilling at the Kay Mine Deposit (some highlights below), received drill permits for both the Central and Western Targets, and initiated drilling on targets outside the Kay Mine Deposit.

Marc Pais, CEO, said, “As we begin 2023, I want to take a moment to reflect on the past year and share some of our accomplishments. First, I want to thank our shareholders for your continued support and belief in Arizona Metals. Your trust and investment has been a driving force in creating one of the best-financed explorers listed on the TSX, and advancing what we believe to be one of the world’s premier VMS exploration projects. This past year has been a challenging one, with the global pandemic continuing to delay some aspects of our work programs. Despite these challenges, our team has remained focused and dedicated to delivering on our commitments and adapting to the changing landscape. We are pleased to report that towards the end of 2022 we did see a marked improvement in permitting timelines, and the Kay Mine Project is now fully-permitted to complete the Phase 3 drill program of 76,000 meters.

Looking forward, we will continue to focus on delivering value and driving long-term growth for our shareholders, alongside the Kay and Sugarloaf local communities.”

In October 2022, the Company announced that it had received permit approval from the Bureau of Land Management (BLM) for two new drill pads, located approximately 1,200 meters west of the Kay Mine Deposit. These new pads will allow for testing of the Western Target, while also allowing for drilling of additional coincident anomalies located between the Central and Western Targets. The Central and Western Targets were previously defined based on coincident structural, geochemical, and geophysical anomalies (through extensive ground mapping, electromagnetic and gravity surveys). A bond in the amount of US$21,398 for pads W1 and W2 was posted with the BLM and approved in December 2022. Road construction for the Western pads commenced in December 2022, with completion expected in Q1’2023. Construction of the Central Target drill roads and pads was also completed in November 2022, and drilling from Central pad C1 commenced in November 2022.

There are currently 6 holes with assays pending from the Kay Mine Deposit and 9 holes from testing targets north and south of the main Kay deposit (from pads 4, 5, and 6). For the Central Target, there are 6 holes pending from pad 7, drilled from east to west, and one hole from pad C1, drilled from west to east.