Kay Mine Completion Of Recent Drill Holes

TORONTO - Arizona Metals Corp. reported on two recently completed drill holes at its Kay Mine project in Yavapai, County Arizona. An additional 20 holes are pending, with three drill rigs turning 24 hours per day. Hole KM-21-60 intersected 93.3 m at a grade of 8.3 g/t AuEq, including a higher-grade interval of 17.5 m grading 29.6 g/t AuEq, from a depth of 557 m. This hole is in the central portion of the deposit, and demonstrates excellent continuity of mineralization between holes 26, 28, 25A, 57A and 40. This hole returned the project’s highest single gold assay, a value of 273 g/t Au (over 1.2 meters from 634.3 m downhole).

Hole KM-21-57B intersected 125.3 m at a grade of 3.2% CuEq, including higher grade intervals of 1.8 m grading 9.9% CuEq and 7.3 m grading 7.7% CuEq, from a depth of 728 m. This hole demonstrates continuity and extension of mineralization between holes 26, 28, 25A, and 40, and 58B. Hole 57B contains the project’s highest copper analysis to date, grading 20.7% Cu (over 1.5 m from 802.2 m downhole).

Hole 60 has extended the thickness of the mineralized zone encountered in hole 58B (located 23 meters up-plunge) by approximately 5 meters into the hanging-wall and 10 meters in the footwall. Hole 57B has extended the mineralized zone encountered in hole 57A (located 33 meters up-plunge) by approximately 10 meters into the hanging-wall and 22 meters into the footwall. Assays received to date have intersected mineralization over a down-plunge extent of 760 m (880 m below surface). Holes 57B and 60, spaced 310 meters apart down-plunge from the top of mineralization in 60 to the bottom of mineralization in 57B, continue to demonstrate the excellent vertical continuity of very thick zones of mineralization.

Marc Pais, CEO, said, “Drilling at the Kay Mine Project continues to intersect very large widths and high grades of massive sulphide mineralization. The holes released today demonstrate excellent continuity of mineralization in all directions, while also showing that mineralization is substantially thicker than suggested by our original modeling. Drilling has extended mineralization well into both the hanging-wall and foot-wall envelopes, which gives the potential to define a significant tonnage of mineralization.

Hole 60 encountered the highest grade of gold mineralization at Kay assayed to date, with visible gold in the core while hole 57B encountered the longest interval of copper-dominant mineralization assayed to date. Drilling is currently underway to test for depth extensions to at least 1,200 meters, while also testing for lateral extensions of the thick hinge zone. The 20 holes pending all encountered semi-massive or massive sulphide mineralization, and those intersections are guiding the drilling currently underway.

Holes 57B and 60, spaced 310 meters apart down-plunge from the top of 60 to the bottom of 57B, continue to demonstrate the excellent vertical continuity of very thick zones of mineralization. The large widths and high grades being encountered at Kay are extremely rare in the context of VMS deposits either in production or being explored globally.

We have drilled approximately 52,000 meters at Kay to date, with each hole solidifying our opinion that this is one of the very few large precious-metals rich VMS deposits not yet mined, and more importantly, is potentially part of a much larger mineralized system that has yet to be explored. To that end, we recently completed a property-wide ground-loop electromagnetic survey, which will serve to refine and improve the resolution of the Central and Western targets, located approximately 300 meters and 1,000 meters west of Kay, respectively. Drill pad and road permitting is currently underway for these targets, with a detailed update expected in the next few weeks.”

With the assayed holes released, the Company has completed a total of 52,000 meters at the Kay Mine since inception of drilling. The Company is fully-funded to complete the remaining 23,000 meters planned for the Phase 2 program with the priority focus areas for upcoming drilling, as well as an additional 76,000 meters in the upcoming Phase 3 program which will be used to test the numerous parallel targets heading West of Kay and the Northern and Southern Extensions of the Kay Deposit.