Kay Mine Recently Completed Holes Intersected Massive Sulphide Mineralization

TORONTO - Arizona Metals Corp. reported that all four recently completed holes at its Kay Mine project in Yavapai County, Arizona, intersected massive sulphide mineralization, both up-dip and down-dip of the hinge zone intersection in which hole KM-20-13 intersected a broad interval of 43.1 m at a grade of 3.9% CuEq, including 15.2 m grading 6.7% CuEq. Hole KM-20-16 was drilled 50 m down-dip of hole KM-20-13, and intersected 38.4 m grading 2.9% CuEq, including 12.5 m at a grade of 6.0% CuEq, as well as 3.5 m of 10.2% CuEq and 3.0 m of 11.3% CuEq, from a depth of 385 m vertically below surface.

Hole KM-20-14 was drilled 50 m up-dip of hole KM-20-13 and intersected an interval of 39.9 m at a grade of 3.4% CuEq, including 3.5 m grading 11.6% CuEq, as well as 3.5 m of 6.6% CuEq. Branch hole KM-20-14A was drilled 40 m up-dip of hole KM-20-13, and 50 m north of trunk hole KM-20-14. This hole intersected 22.5 m at a grade of 2.4% CuEq, including 4.1 m of 5.2% CuEq and 0.8 m of 14.0% CuEq. Hole KM-20-15 was drilled 50 m up-dip of hole KM-20-10C intersected 3.3m of 11.3% ZnEq.

Marc Pais, CEO, said, “Holes KM-20-14 and KM-20-14A have successfully intersected massive sulphide mineralization 50 m up-dip of the broad high-grade hinge zone identified in hole KM-20-13. These two holes also demonstrate the potential to identify wide intervals of high-grade mineralization in the hinge zone over at least 50 m of strike extent. Hole KM-20-16 successfully intersected massive sulphide mineralization 50 m down-dip of the high-grade hinge zone identified in Hole KM-20-13. Hole KM-20-15 is located in an area of newly-defined gold-rich zinc mineralization, and was drilled 30 m south of KM-20-10C (6.8m of 7.3g/t AuEq) in order to test the strike extension of the potential gold-rich zinc lens. This hole intersected 3.3m of 11.3% ZnEq, located 50 m up-dip of the previously identified gold-rich zinc mineralization, and also by 30 m into a previously untested area to the south.

Last month we completed a downhole electromagnetic testing program, in order to better define new targets for extension of the hinges. These geophysical results were used in conjunction with today’s results to plan the Phase 2 drill program detailed below. We believe there is excellent potential to expand the Kay Mine deposit, which currently covers a strike length of only 320 m, on strike both to the north and south. Permitting is currently underway for two drill pads to test 500 m of strike to the north, and another pad to test 300 m of strike to the south. We are also permitting drill pads for the Central Target, located 500 m west of Kay, and the Western Target, located 1,000 m west of Kay. Arizona Metals has completed structural mapping, soil sampling, rock sampling, and a helicopter VTEM survey over these targets, all of which show coincident anomalies. We are excited to start drilling these targets later this year, as we believe both have the potential to host one or more deposits similar to the Kay Mine.”

Permitting is currently underway to test the Kay Mine deposit on strike by 500m to the north as well as 300m to the south. The Company is also planning to test the previously undrilled Central and Western Targets later this year. The total Phase 2 drill program would consist of up to 11,000m in 29 core drill holes. Arizona Metals has completed structural mapping, soil sampling, rock sampling, and a helicopter VTEM survey over these targets, all of which show coincident anomalies.