Drilling Campaign Completed At Philadelphia Gold-Silver Project

VANCOUVER - Arizona Silver Exploration Inc. has completed its’ first 2023 reverse circulation (RC) drilling program at the Philadelphia epithermal gold-silver project in Mohave County, Arizona. The program consisted of 12 holes for a total of 1256 meters. Assay results pending. Five holes were completed on one of three patented claims known as the Rising Fawn Zone.  All holes in the Rising Fawn Zone cut stockwork quartz mineralization as anticipated in a rhyolite dike and footwall granite.  Importantly, panning of the selected drill cuttings revealed visible gold in several of the drill holes. Seven of the holes were drilled in the GAP located in the Perry Zone, from a newly established drill pad in the central Perry claim. The new GAP drill holes intersected prominent green to gray quartz in a hanging wall (“HW”) vein in six of the seven holes. The vein is immediately beneath the overlying altered volcanics. Mineralization continued below the HW vein in the form of silicification and stockwork quartz veins in the host rhyolite dike and underlying Precambrian granite.  All seven holes had good intervals of silicification and stockwork quartz. Gold panning of drill cutting rejects from the HW vein zone from two of the drill holes in the GAP revealed visible gold. Panning of drill rejects in the other GAP holes was not performed.

Geological sections will be released when available.

Greg Hahn, VP-Exploration, said, “We have drilled 1.7 kilometers of strike length and up to 250 meters of dip to date on this impressive mineral system. Some gaps remain to be drilled but overall the system is well mineralized throughout the area drilled to date and remains open along strike in both directions and down dip.  Outcrops of the main vein system continue south for another 1.4 kilometers but have never been drilled.

The Company has established 10 drill sites to test the Resaca Zone on patented claims in an upcoming drilling campaign. The Resaca Zone has never been drilled but shows excellent silver and gold geochemistry from outcropping stockwork quartz in the host rhyolite dike. North of the Resaca Zone on unpatented claims the Company had previously completed 60 drill holes for a distance of at least another 500 meters north of the patented claim boundary.  More than half of those holes intersected high grade vein and adjacent stockwork quartz mineralization.”

The Company is currently permitting 40 holes from several drill sites on claims within Bureau of Land Management lands. These holes will test the down dip continuation of the Perry Zone and the recently identified strong CSAMT anomaly beneath the Red Hills bulk tonnage target.