Arizona Metals Corp’s Kay Mine Drilling Intersects 68.4 m at 6.7 g/t AuEq; 84.4 m at 5.3 g/t AuEq; and 72.5 m at 2.5% CuEq

TORONTO–(BUSINESS WIRE)–$copper #copper–Arizona Metals Corp. (TSX.V:AMC, OTCQX:AZMCF) (the “Company” or “Arizona Metals”) is pleased to announce the results of six 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.

Marc Pais, CEO, commented “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 modelling. 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 51B showed the deepest mineralization assayed to date, at a vertical depth of 900 meters. Drilling is currently underway to test for depth extensions to at least 1,100 meters, while also testing for lateral extensions of the thick hinge zone. The twenty holes pending all encountered semi-massive or massive sulphide mineralization, and those intersections are guiding the drilling currently underway.

We have drilled approximately 45,000 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.”

Drilling Highlights

• Hole KM-21-58 intersected 68.4 m at a grade of 6.7 g/t AuEq, including higher-grade intervals of 7.3 m grading 10.1 g/t AuEq and 10.5 m grading 21.1 g/t AuEq, from a depth of 614 m. This hole is in the central portion of the deposit, and demonstrates excellent continuity of mineralization between holes 26, 28, 25A, and 40.
• Hole KM-21-58A intersected 72.5 m at a grade of 2.5% CuEq, including higher grade intervals of 7.6 m grading 3.0% CuEq, 11.0 m grading 4.3% CuEq, and 8.3 m grading 4.2% CuEq, from a depth of 569 m. This hole is in the central portion of the deposit, and demonstrates continuity and extension of mineralization between holes 26, 28, 25A, and 40.
• Hole KM-21-58B intersected 84.4 m at a grade of 5.3 g/t AuEq, including higher grade intervals of 11.3 m grading 10.3 g/t AuEq, and 17.4 m grading 11.2 g/t AuEq, from a depth of 597 m. This hole is in the central portion of the deposit, and demonstrates continuity of mineralization between holes 26, 28, 25A, and 40.
• Hole KM-21-51B intersected 9.8 m at a grade of 2.8% CuEq, including a higher grade interval of 0.9 m grading 8.0% CuEq, from a depth of 861m. At 10.6 m farther down-hole, this hole also intersected 9.8 m grading 1.4% Cu, including 1.1 meters grading 6.1% CuEq. This is the deepest hole assayed to date, extending mineralization about 35 m north and 12 m downdip from hole 42C.
• Hole KM21-57 intersected 7.8 m grading 3.9 g/t AuEq, including a higher grade interval of 0.9 m at a grade of 12.7 g/t AuEq, from a depth of 820 m. Thirty-five meters farther downhole, this hole intersected 15.5 m at a grade of 3.3% CuEq including a higher grade interval of 3.5 m grading 7.5% CuEq. This hole shows excellent continuity of high-grade mineralization between holes 27A and 42A.

Kay Mine Phase 2 Drill Program Update

With the assayed holes released today, the Company has completed a total of 45,000 meters at the Kay Mine since inception of drilling. The Company is fully-funded to complete the remaining 30,000 meters planned for the Phase 2 program, as well as an additional 76,000 meters in the upcoming Phase 3 program.

Table 1. Results of Phase 2 Drill Program at Kay Mine, Yavapai County, Arizona announced in this news release.

								Analyzed Grade										Analyzed Metal Equivalent						Metal Equivalent (including assumed recoveries)
Hole ID		From m		To m		Length m		Cu %		Au g/t		Zn %		Ag g/t		Pb %		Cu eq %		Au eq g/t		Zn eq%		Cu eq %		Au eq g/t		Zn eq%
KM-21-51B		860.5		870.2		9.8		3.00		0.13		0.10		6.5		0.05		3.18		5.21		8.27		2.82		4.63		7.35
including		864.7		865.6		0.9		8.70		0.09		0.09		16.0		0.10		8.93		14.64		23.24		7.99		13.09		20.78
KM-21-51B		881.5		884.2		2.7		0.52		0.22		0.62		28.3		0.14		1.15		1.88		2.98		0.92		1.51		2.40
KM-21-51B		893.7		903.4		9.8		1.51		0.10		0.06		4.4		0.01		1.63		2.67		4.24		1.44		2.36		3.74
including		898.2		899.3		1.1		6.56		0.11		0.10		15.0		0.04		6.79		11.13		17.67		6.06		9.93		15.75
KM-21-56		434.6		435.9		1.2		1.53		0.39		0.13		19.0		0.01		1.97		3.23		5.12		1.66		2.72		4.31
KM-21-56		499.1		501.5		2.4		1.53		0.18		7.15		6.4		0.02		4.45		7.29		11.57		3.96		6.48		10.29
including		499.1		500.2		1.1		1.97		0.31		14.55		7.0		0.02		7.81		12.81		20.33		6.96		11.41		18.10
KM-21-56		524.0		525.0		1.1		0.97		0.12		0.07		5.0		0.03		1.12		1.83		2.91		0.97		1.59		2.53
KM-21-56		558.2		563.6		5.3		0.82		0.99		3.09		27.0		0.06		2.84		4.65		7.38		2.31		3.78		6.00
KM-21-56		577.0		578.2		1.2		0.02		1.66		0.47		5.0		0.02		1.26		2.06		3.27		0.81		1.34		2.12
KM-21-57		776.5		784.3		7.8		0.26		2.30		2.59		57.9		0.68		3.27		5.36		8.51		2.39		3.91		6.21
including		777.8		778.8		0.9		0.25		6.62		11.45		105.0		3.33		10.26		16.81		26.68		7.77		12.73		20.21
KM-21-57		819.9		835.5		15.5		1.29		2.17		2.58		90.9		0.27		4.39		7.19		11.41		3.33		5.47		8.67
including		824.0		827.5		3.5		3.69		4.67		3.81		228.5		0.29		9.88		16.19		25.69		7.49		12.28		19.48
KM-21-57		852.5		853.6		1.1		0.30		3.10		2.33		92.0		0.57		3.94		6.46		10.25		2.76		4.52		7.18
KM-21-57A		728.6		735.5		6.9		2.49		1.04		0.57		6.6		0.02		3.40		5.57		8.84		2.85		4.68		7.42
KM-21-57A		759.6		821.4		61.9		1.08		2.60		3.73		32.0		0.50		4.46		7.31		11.60		3.46		5.67		9.00
including		762.3		783.3		21.0		0.42		6.78		9.49		67.9		0.49		8.84		14.50		23.00		6.56		10.75		17.06
KM-21-58		577.0		586.4		9.4		0.43		1.28		2.48		41.3		0.47		2.59		4.25		6.74		2.00		3.28		5.20
KM-21-58		614.2		682.6		68.4		1.30		3.42		3.85		47.2		0.50		5.35		8.78		13.93		4.08		6.69		10.61
including		640.7		648.0		7.3		0.79		4.34		10.20		51.9		0.56		7.90		12.94		20.54		6.19		10.14		16.10
including		668.1		678.6		10.5		5.30		12.19		6.67		194.7		1.88		17.26		28.30		44.90		12.84		21.05		33.40
including		668.1		669.6		1.5		2.55		43.20		7.76		856.0		0.80		38.86		63.69		101.08		25.03		41.02		65.10
KM-21-58A		569.4		641.8		72.5		1.12		1.00		2.84		18.1		0.33		3.03		4.97		7.89		2.50		4.10		6.51
including		584.3		591.9		7.6		0.29		1.19		6.23		4.4		0.40		3.53		5.79		9.19		2.95		4.84		7.68
including		602.3		613.3		11.0		4.02		0.11		1.38		12.6		0.40		4.80		7.88		12.50		4.27		7.01		11.12
including		630.3		630.9		0.7		1.14		6.35		11.20		356.0		0.65		12.28		20.13		31.95		9.05		14.83		23.53
including		633.5		641.8		8.3		1.53		2.33		5.12		26.5		0.36		5.20		8.53		13.53		4.19		6.87		10.91
KM-21-58A		665.5		676.0		10.5		0.12		2.90		3.88		167.5		1.92		5.13		8.41		13.34		3.69		6.04		9.59
including		672.5		676.0		3.5		0.12		6.89		6.40		332.0		3.81		10.26		16.82		26.70		7.19		11.78		18.69
including		673.6		674.5		0.9		0.28		19.65		12.65		844.0		10.20		26.07		42.74		67.82		17.86		29.27		46.45
KM-21-58B		543.2		627.6		84.4		1.05		2.38		3.44		23.8		0.55		4.13		6.77		10.75		3.23		5.29		8.39
including		571.2		582.5		11.3		0.51		5.27		9.96		35.4		1.52		8.18		13.40		21.27		6.31		10.34		16.41
including		605.3		622.7		17.4		3.20		6.19		4.18		40.9		0.22		8.96		14.69		23.31		6.83		11.20		17.78
including		609.6		612.0		2.4		1.45		17.73		7.97		82.5		0.44		16.08		26.35		41.81		11.03		18.07		28.68

The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 80%. (2) Assumptions used in USD for the copper and gold Metal Equivalent calculations were metal prices of $4.63/lb Copper, $1937/oz Gold, $25/oz Silver, $1.78/lb Zinc, and $1.02/lb Pb. Assumed metal recoveries (rec.), based on a preliminary review of historic data by SRK and ProcessIQ¹, were 90% for each of copper, zinc, and lead, and 60% for each of gold and silver. The following equation was used to calculate copper equivalence: CuEq = Copper (%) (90% rec.) + (Gold (g/t) x 0.61)(60% rec.) + (Silver (g/t) x 0.0079)(60% rec.) + (Zinc (%) x 0.3844)(90% rec.) +(Lead (%) x 0.2203)(90% rec.). The following equation was used to calculate gold equivalence: AuEq = Gold (g/t)(60% rec.) + (Copper (%) x 1.638)(90% rec.) + (Silver (g/t) x 0.01291)(60% rec.) + (Zinc (%) x 0.6299)(90% rec.) +(Lead (%) x 0.3609)(90% rec.). Analyzed Metal Equivalent calculations are reported for illustrative purposes only. The metal chosen for reporting on an equivalent basis is the one that contributes the most dollar value after accounting for assumed recoveries.

Table 2. Full results of Phase 2 Drill Program at Kay Mine, Yavapai County, Arizona.

								Analyzed Grade										Analyzed Metal Equivalent						Metal Equivalent (including assumed recoveries)
Hole ID		From m		To m		Length m		Cu %		Au g/t		Zn %		Ag g/t		Pb %		Cu eq %		Au eq g/t		Zn eq%		Cu eq %		Au eq g/t		Zn eq%
KM-21-17		429.5		449.9		20.4		1.81		1.10		1.20		21.2		0.17		3.14		5.15		8.18		2.58		4.22		6.70
including		429.5		434.0		4.6		4.61		1.73		1.91		29.1		0.24		6.68		10.96		17.39		5.63		9.23		14.64
including		432.7		434.0		1.4		0.52		6.81		8.29		40.0		1.10		8.41		13.79		21.89		6.23		10.22		16.21
KM-21-17		504.4		505.4		0.9		1.19		4.73		0.05		9.0		0.00		4.17		6.83		10.84		2.86		4.69		7.45
KM-21-18		404.3		429.8		25.5		0.35		0.86		1.71		15.8		0.23		1.71		2.80		4.44		1.34		2.20		3.49
including		408.6		410.6		2.0		0.50		2.22		7.25		64.4		0.82		5.33		8.74		13.87		4.24		6.95		11.03
including		424.9		427.3		2.4		1.60		2.59		3.16		18.0		0.52		4.66		7.64		12.12		3.68		6.02		9.56
KM-21-18A		391.4		423.8		32.5		1.09		0.62		1.25		17.7		0.15		2.13		3.48		5.53		1.76		2.88		4.57
including		393.3		395.8		2.4		9.57		2.83		2.72		40.9		0.28		12.73		20.87		33.12		10.84		17.78		28.21
KM-21-19		377.8		378.3		0.5		3.39		5.59		6.83		128.0		0.63		10.58		17.34		27.52		8.19		13.43		21.32
KM-21-20		442.7		443.6		0.9		2.56		0.52		3.52		18.5		0.14		4.40		7.22		11.45		3.82		6.26		9.94
KM-21-20		456.0		458.1		2.1		1.49		0.35		0.14		6.0		0.04		1.81		2.97		4.71		1.55		2.54		4.04
KM-21-21		452.6		495.5		42.8		0.80		0.78		1.52		15.1		0.15		2.01		3.29		5.22		1.63		2.67		4.24
including		488.7		493.5		4.8		0.26		2.50		6.13		27.6		0.54		4.48		7.34		11.65		3.51		5.75		9.12
KM-21-21A		422.0		431.4		9.4		1.17		0.57		2.25		8.6		0.36		2.53		4.15		6.58		2.15		3.53		5.60
KM-21-21A		439.1		502.1		63.0		0.45		1.28		3.14		58.8		0.77		3.08		5.04		8.00		2.39		3.92		6.23
including		465.0		481.9		16.9		0.52		2.45		4.05		80.9		0.99		4.43		7.26		11.53		3.35		5.49		8.71
KM-21-23		394.4		401.4		7.0		0.36		0.93		1.94		13.5		1.17		2.05		3.35		5.32		1.64		2.69		4.26
KM-21-23		438.6		459.2		20.6		0.17		1.18		1.93		27.8		0.37		1.94		3.17		5.03		1.46		2.39		3.80
KM-21-24		501.2		592.1		90.8		0.45		1.33		3.42		44.6		0.41		3.02		4.95		7.86		2.37		3.88		6.16
including		501.2		521.7		20.4		1.34		1.70		6.35		113.1		0.66		5.86		9.60		15.24		4.69		7.69		12.20
including		520.9		521.7		0.8		1.75		16.50		9.55		574.0		1.22		20.31		33.29		52.82		13.89		22.77		36.13
including		575.9		592.1		16.2		0.16		2.50		6.00		44.4		0.79		4.51		7.40		11.74		3.50		5.74		9.11
including		588.7		590.4		1.7		0.47		9.98		23.70		18.2		0.13		15.84		25.96		41.20		12.39		20.30		32.22
KM-21-25		662.6		741.3		78.6		1.41		2.33		2.79		43.4		0.35		4.33		7.10		11.26		3.37		5.52		8.76
including		663.2		672.7		9.4		8.06		1.84		1.31		92.3		0.15		10.45		17.13		27.18		8.85		14.50		23.01
including		693.0		703.9		11.0		0.68		6.28		10.40		99.7		1.17		9.56		15.66		24.86		7.21		11.82		18.77
KM-21-25A		654.7		719.9		65.2		1.04		1.94		2.15		18.9		0.18		3.25		5.32		8.44		2.52		4.13		6.56
including		655.5		662.8		7.3		3.66		2.09		1.85		30.2		0.21		5.93		9.73		15.44		4.89		8.01		12.71
including		710.8		716.9		6.1		2.72		7.95		3.73		37.4		0.31		9.37		15.36		24.38		6.89		11.29		17.92
KM-21-25B		647.2		648.9		1.7		0.13		0.58		2.41		62.1		0.64		2.04		3.35		5.31		1.58		2.60		4.12
KM-21-25B		655.6		659.9		4.3		0.93		0.91		0.91		25.3		0.19		2.07		3.40		5.40		1.64		2.69		4.27
KM-21-25B		666.0		667.8		1.8		0.60		0.72		2.98		33.5		0.43		2.55		4.18		6.63		2.08		3.41		5.42
KM-21-25B		673.3		674.7		1.4		0.08		2.10		2.39		23.0		0.33		2.53		4.15		6.58		1.84		3.01		4.78
KM-21-25B		681.2		682.6		1.4		0.09		1.54		2.98		11.0		0.35		2.34		3.83		6.08		1.80		2.95		4.67
KM-21-26		506.7		582.8		76.0		0.79		1.61		4.23		32.7		0.54		3.78		6.19		9.83		3.03		4.96		7.88
including		511.1		526.1		14.9		0.73		1.78		9.68		43.3		0.77		6.05		9.92		15.74		5.02		8.23		13.05
including		573.8		582.8		9.0		4.02		6.06		3.32		18.2		0.19		9.18		15.04		23.87		7.11		11.65		18.49
KM-21-27		706.8		738.2		31.4		1.58		0.16		0.69		9.0		0.06		2.03		3.33		5.28		1.77		2.91		4.62
KM-21-27		764.4		777.4		13.0		2.85		0.48		0.17		8.5		0.02		3.29		5.39		8.55		2.85		4.67		7.41
KM-21-27A		666.3		769.4		103.1		0.79		1.06		1.90		35.8		0.42		2.54		4.17		6.62		2.01		3.30		5.23
including		666.3		687.0		20.7		3.21		1.39		1.26		19.4		0.20		4.74		7.77		12.33		3.97		6.50		10.32
including		706.4		724.6		18.3		0.69		2.69		4.70		92.2		1.21		5.13		8.41		13.35		3.91		6.41		10.17
including		752.9		763.8		11.0		0.07		1.07		4.68		95.3		0.98		3.49		5.73		9.09		2.72		4.46		7.08
KM-21-27B		665.8		762.9		97.1		1.31		1.62		3.21		31.7		0.40		3.88		6.35		10.08		3.12		5.11		8.11
including		702.0		723.0		21.0		0.87		4.56		9.03		81.5		1.10		8.01		13.13		20.83		6.18		10.13		16.08
including		723.0		738.2		15.2		4.97		0.36		0.42		18.7		0.05		5.51		9.03		14.33		4.85		7.95		12.61
KM-21-28		640.7		694.9		54.3		1.87		2.85		5.03		29.4		0.70		5.93		9.72		15.43		4.75		7.78		12.34
including		660.2		671.6		11.4		0.54		4.29		9.30		32.2		1.17		7.24		11.87		18.84		5.66		9.27		14.71
including		681.1		689.0		7.9		4.39		9.47		10.34		93.1		2.41		15.42		25.27		40.10		11.92		19.54		31.00
including		690.4		692.6		2.2		16.06		0.82		0.06		55.8		0.01		17.02		27.90		44.28		15.04		24.65		39.12
KM-21-29		393.0		393.8		0.8		0.43		1.54		4.92		9.0		0.21		3.38		5.54		8.79		2.74		4.49		7.13
KM-21-30		264.9		267.9		3.0		1.18		0.02		0.01		1.5		0.00		1.21		1.98		3.15		1.08		1.77		2.81
KM-21-32		316.4		320.0		3.7		1.84		1.29		2.47		38.5		0.30		3.95		6.47		10.27		3.22		5.29		8.39
KM-21-32		342.9		345.9		3.0		0.67		0.52		2.70		13.0		0.15		2.16		3.54		5.62		1.82		2.98		4.73
KM-21-32		358.9		368.4		9.4		0.60		1.47		1.99		45.7		0.35		2.70		4.42		7.01		2.05		3.36		5.33
KM-21-33		171.3		172.5		1.2		3.79		0.45		0.21		63.0		0.17		4.69		7.68		12.19		3.99		6.53		10.37
KM-21-34		299.3		303.9		4.6		0.29		1.69		0.94		46.3		0.26		2.12		3.47		5.50		1.48		2.43		3.86
KM-21-34		309.7		310.9		1.2		2.27		0.56		1.55		19.9		0.08		3.38		5.54		8.80		2.89		4.74		7.53
KM-21-35		609.6		615.1		5.5		0.92		1.26		1.71		57.7		0.02		2.80		4.60		7.29		2.16		3.53		5.61
including		609.6		613.0		3.4		1.39		1.69		1.98		54.0		0.01		3.61		5.92		9.40		2.81		4.61		7.32
KM-21-38		406.5		407.8		1.4		0.60		1.08		9.41		4.0		0.25		4.96		8.13		12.90		4.26		6.98		11.07
KM-21-38		467.4		476.1		8.7		0.09		1.73		3.87		61.1		1.22		3.38		5.55		8.80		2.58		4.24		6.72
including		470.0		475.2		5.2		0.12		2.44		5.68		87.5		1.79		4.88		8.01		12.71		3.74		6.13		9.73
KM-21-40		589.8		613.8		24.0		4.98		0.61		0.98		23.4		0.45		6.01		9.86		15.65		5.25		8.60		13.64
including		589.8		597.9		8.1		7.63		0.43		0.39		27.1		0.17		8.30		13.60		21.58		7.32		12.00		19.05
KM-21-40		627.9		680.8		52.9		0.47		2.91		3.40		35.7		0.40		3.93		6.44		10.22		2.92		4.78		7.59
including		641.1		648.3		7.2		1.15		7.66		8.27		88.5		0.92		9.90		16.23		25.76		7.30		11.97		18.99
including		670.3		674.1		3.8		1.53		10.89		9.47		24.6		0.61		12.15		19.91		31.59		8.88		14.55		23.10
KM-21-41		462.6		559.3		96.7		1.04		1.54		2.66		40.8		0.35		3.41		5.59		8.86		2.69		4.41		6.99
including		503.2		514.2		11.0		0.99		5.34		8.17		106.3		1.63		8.59		14.08		22.35		6.50		10.65		16.91
including		546.7		558.1		11.4		5.86		5.83		3.24		185.4		0.04		12.14		19.90		31.58		9.42		15.44		24.49
including		553.1		556.9		3.8		7.11		9.55		5.70		505.8		0.09		19.16		31.41		49.84		14.29		23.43		37.18
KM-21-42		803.5		810.3		6.9		0.05		1.60		1.58		64.3		0.35		2.22		3.64		5.78		1.55		2.55		4.04
KM-21-42		835.5		839.7		4.3		0.63		2.46		2.15		21.7		0.21		3.18		5.20		8.26		2.36		3.86		6.13
KM-21-42		853.7		854.7		0.9		0.11		1.63		2.88		28.0		0.40		2.52		4.13		6.55		1.90		3.12		4.95
KM-21-42A		786.7		787.6		0.9		0.03		3.61		2.18		17.0		0.70		3.36		5.51		8.74		2.32		3.81		6.04
KM-21-42A		805.4		811.1		5.6		6.17		0.92		0.18		39.5		0.01		7.12		11.68		18.53		6.15		10.08		15.99
including		807.0		808.9		2.0		10.72		0.87		0.11		61.8		0.00		11.79		19.32		30.66		10.30		16.89		26.80
KM-21-42A		840.9		877.2		36.3		0.55		0.62		1.35		10.7		0.13		1.56		2.56		4.06		1.27		2.08		3.30
KM-21-42B		808.0		811.2		3.2		0.29		2.06		5.77		63.0		0.94		4.47		7.33		11.63		3.50		5.73		9.10
KM-21-42B		816.9		819.9		3.0		2.31		0.66		1.23		16.0		0.15		3.35		5.49		8.71		2.85		4.68		7.42
KM-21-42B		835.5		840.8		5.3		0.02		0.73		2.93		13.5		0.24		1.75		2.87		4.56		1.41		2.31		3.67
KM-21-42C		849.2		877.4		28.2		3.81		0.47		0.29		12.5		0.09		4.32		7.08		11.24		3.77		6.19		9.82
including		849.2		854.7		5.5		14.57		0.66		0.16		37.5		0.03		15.34		25.14		39.89		13.59		22.28		35.36
including		863.8		869.4		5.6		2.29		1.17		0.59		13.1		0.25		3.39		5.55		8.81		2.80		4.59		7.29
including		874.8		877.4		2.6		2.83		0.26		0.03		7.2		0.01		3.06		5.02		7.96		2.69		4.41		7.00
KM-21-42C		886.1		889.1		3.0		0.87		0.88		0.50		5.2		0.05		1.65		2.71		4.30		1.31		2.15		3.42
KM-21-43		583.7		607.1		23.4		0.39		0.25		3.68		3.1		0.02		1.98		3.25		5.15		1.73		2.84		4.50
including		598.9		599.8		0.9		0.50		0.18		11.30		3.0		0.03		4.99		8.17		12.97		4.45		7.29		11.57
KM-21-43		616.0		633.1		17.1		1.81		0.17		0.14		8.2		0.03		2.04		3.34		5.31		1.79		2.93		4.65
including		631.2		633.1		1.8		6.30		0.61		0.09		25.0		0.01		6.91		11.32		17.97		6.05		9.91		15.73
KM-21-44		353.4		377.3		23.9		0.34		0.97		2.52		18.3		0.33		2.12		3.47		5.50		1.68		2.76		4.38
including		354.0		356.6		2.6		0.23		2.14		7.97		38.9		0.68		5.06		8.29		13.15		4.07		6.67		10.58
KM-21-45		459.6		463.0		3.4		0.32		0.62		6.63		82.3		0.87		4.10		6.71		10.65		3.38		5.53		8.78
including		461.2		462.1		0.9		0.15		1.23		16.90		182.0		2.50		9.39		15.38		24.41		7.79		12.77		20.26
KM-21-46		350.4		362.9		12.4		0.66		2.61		3.69		40.6		0.39		4.08		6.69		10.61		3.10		5.08		8.06
including		350.4		353.3		2.8		0.77		5.19		6.83		107.0		0.72		7.58		12.42		19.70		5.61		9.20		14.60
KM-21-47		433.9		435.9		2.0		0.16		1.88		9.28		138.7		2.17		6.46		10.58		16.79		5.14		8.42		13.36
KM-21-48		605.2		610.7		5.5		3.54		0.45		0.19		12.7		0.05		4.00		6.55		10.40		3.49		5.71		9.07
KM-21-48		630.3		634.6		4.3		1.11		0.34		0.69		12.7		0.11		1.71		2.80		4.45		1.45		2.37		3.77
KM-21-48		685.5		696.8		11.3		0.98		0.05		0.06		4.2		0.02		1.07		1.75		2.77		0.94		1.54		2.45
KM-21-48		715.1		718.4		3.4		2.08		0.04		0.03		4.3		0.01		2.15		3.52		5.59		1.92		3.14		4.98
KM-21-48		723.0		724.5		1.5		1.54		0.07		0.06		4.0		0.02		1.64		2.68		4.26		1.45		2.38		3.78
KM-21-48		735.5		743.6		8.1		0.34		0.60		1.52		9.2		0.07		1.38		2.26		3.59		1.11		1.82		2.89

The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 80%. (2) Assumptions used in USD for the copper and gold Metal Equivalent calculations were metal prices of $4.63/lb Copper, $1937/oz Gold, $25/oz Silver, $1.78/lb Zinc, and $1.02/lb Pb. Assumed metal recoveries (rec.), based on a preliminary review of historic data by SRK and ProcessIQ², were 90% for each of copper, zinc, and lead, and 60% for each of gold and silver. The following equation was used to calculate copper equivalence: CuEq = Copper (%) (90% rec.) + (Gold (g/t) x 0.61)(60% rec.) + (Silver (g/t) x 0.0079)(60% rec.) + (Zinc (%) x 0.3844)(90% rec.) +(Lead (%) x 0.2203)(90% rec.). The following equation was used to calculate gold equivalence: AuEq = Gold (g/t)(60% rec.) + (Copper (%) x 1.638)(90% rec.) + (Silver (g/t) x 0.01291)(60% rec.) + (Zinc (%) x 0.6299)(90% rec.) +(Lead (%) x 0.3609)(90% rec.). Analyzed Metal Equivalent calculations are reported for illustrative purposes only. The metal chosen for reporting on an equivalent basis is the one that contributes the most dollar value after accounting for assumed recoveries.

Table 2 Continued. Full results of Phase 2 Drill Program at Kay Mine, Yavapai County, Arizona. The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 80%.

								Analyzed Grade										Analyzed Metal Equivalent						Metal Equivalent (including assumed recoveries)
Hole ID		From m		To m		Length m		Cu %		Au g/t		Zn %		Ag g/t		Pb %		Cu eq %		Au eq g/t		Zn eq%		Cu eq %		Au eq g/t		Zn eq%
KM-21-48A		538.0		539.5		1.5		0.31		1.17		2.79		29.0		0.52		2.44		4.01		6.36		1.92		3.14		4.99
KM-21-48A		687.9		696.9		9.0		1.64		0.36		0.79		7.9		0.01		2.23		3.66		5.80		1.92		3.15		5.00
including		687.9		688.8		0.9		0.15		1.53		5.35		5.0		0.01		3.18		5.21		8.27		2.57		4.21		6.68
including		694.9		696.0		1.1		8.36		0.80		0.10		40.0		0.03		9.21		15.10		23.96		8.05		13.19		20.93
KM-21-50		489.5		501.9		12.3		0.98		2.30		6.36		111.9		1.24		5.99		9.81		15.57		4.70		7.70		12.22
including		489.5		493.0		3.4		2.64		3.59		9.49		207.7		1.65		10.49		17.20		27.30		8.29		13.59		21.57
KM-21-50		509.0		562.1		53.1		0.44		0.84		1.28		35.8		0.27		1.79		2.93		4.65		1.37		2.24		3.56
including		538.1		545.6		7.5		0.28		1.94		2.62		112.8		0.82		3.55		5.81		9.23		2.57		4.21		6.68
KM-21-51B		860.5		870.2		9.8		3.00		0.13		0.10		6.5		0.05		3.18		5.21		8.27		2.82		4.63		7.35
including		864.7		865.6		0.9		8.70		0.09		0.09		16.0		0.10		8.93		14.64		23.24		7.99		13.09		20.78
KM-21-51B		881.5		884.2		2.7		0.52		0.22		0.62		28.3		0.14		1.15		1.88		2.98		0.92		1.51		2.40
KM-21-51B		893.7		903.4		9.8		1.51		0.10		0.06		4.4		0.01		1.63		2.67		4.24		1.44		2.36		3.74
including		898.2		899.3		1.1		6.56		0.11		0.10		15.0		0.04		6.79		11.13		17.67		6.06		9.93		15.75
KM-21-52		751.5		758.2		6.7		1.18		0.66		0.98		18.2		0.14		2.14		3.50		5.56		1.76		2.88		4.58
KM-21-52		787.5		789.6		2.1		0.04		1.27		1.68		28.5		0.22		1.73		2.84		4.50		1.26		2.06		3.27
KM-21-52A		763.7		793.1		29.4		0.25		1.12		1.36		51.6		0.47		1.97		3.22		5.11		1.44		2.36		3.75
including		763.7		764.9		1.2		0.38		3.01		8.69		132.0		1.68		6.97		11.43		18.13		5.41		8.87		14.07
including		771.8		774.5		2.7		1.39		2.46		4.59		116.4		1.82		5.98		9.81		15.56		4.66		7.63		12.12
including		781.5		787.6		6.1		0.31		2.63		1.64		119.5		0.65		3.64		5.97		9.47		2.51		4.12		6.53
KM-21-52A		801.3		802.5		1.2		0.42		0.90		1.29		82.0		0.17		2.15		3.52		5.59		1.57		2.58		4.09
KM-21-52A		818.8		820.2		1.4		0.39		1.62		1.29		188.0		0.36		3.45		5.65		8.96		2.36		3.86		6.13
KM-21-52A		831.2		852.4		21.2		0.05		0.91		0.80		27.2		0.29		1.19		1.95		3.10		0.84		1.38		2.19
including		837.0		841.6		4.6		0.03		2.16		1.34		69.0		0.79		2.59		4.24		6.73		1.77		2.90		4.60
KM-21-55		302.7		308.5		5.8		0.66		0.44		0.53		15.8		0.10		1.28		2.10		3.33		1.03		1.70		2.69
KM-21-56		434.6		435.9		1.2		1.53		0.39		0.13		19.0		0.01		1.97		3.23		5.12		1.66		2.72		4.31
KM-21-56		499.1		501.5		2.4		1.53		0.18		7.15		6.4		0.02		4.45		7.29		11.57		3.96		6.48		10.29
including		499.1		500.2		1.1		1.97		0.31		14.55		7.0		0.02		7.81		12.81		20.33		6.96		11.41		18.10
KM-21-56		524.0		525.0		1.1		0.97		0.12		0.07		5.0		0.03		1.12		1.83		2.91		0.97		1.59		2.53
KM-21-56		558.2		563.6		5.3		0.82		0.99		3.09		27.0		0.06		2.84		4.65		7.38		2.31		3.78		6.00
KM-21-56		577.0		578.2		1.2		0.02		1.66		0.47		5.0		0.02		1.26		2.06		3.27		0.81		1.34		2.12
KM-21-57		776.5		784.3		7.8		0.26		2.30		2.59		57.9		0.68		3.27		5.36		8.51		2.39		3.91		6.21
including		777.8		778.8		0.9		0.25		6.62		11.45		105.0		3.33		10.26		16.81		26.68		7.77		12.73		20.21
KM-21-57		819.9		835.5		15.5		1.29		2.17		2.58		90.9		0.27		4.39		7.19		11.41		3.33		5.47		8.67
including		824.0		827.5		3.5		3.69		4.67		3.81		228.5		0.29		9.88		16.19		25.69		7.49		12.28		19.48
KM-21-57		852.5		853.6		1.1		0.30		3.10		2.33		92.0		0.57		3.94		6.46		10.25		2.76		4.52		7.18
KM-21-57A		728.6		735.5		6.9		2.49		1.04		0.57		6.6		0.02		3.40		5.57		8.84		2.85		4.68		7.42
KM-21-57A		759.6		821.4		61.9		1.08		2.60		3.73		32.0		0.50		4.46		7.31		11.60		3.46		5.67		9.00
including		762.3		783.3		21.0		0.42		6.78		9.49		67.9		0.49		8.84		14.50		23.00		6.56		10.75		17.06
KM-21-58		577.0		586.4		9.4		0.43		1.28		2.48		41.3		0.47		2.59		4.25		6.74		2.00		3.28		5.20
KM-21-58		614.2		682.6		68.4		1.30		3.42		3.85		47.2		0.50		5.35		8.78		13.93		4.08		6.69		10.61
including		640.7		648.0		7.3		0.79		4.34		10.20		51.9		0.56		7.90		12.94		20.54		6.19		10.14		16.10
including		668.1		678.6		10.5		5.30		12.19		6.67		194.7		1.88		17.26		28.30		44.90		12.84		21.05		33.40
including		668.1		669.6		1.5		2.55		43.20		7.76		856.0		0.80		38.86		63.69		101.08		25.03		41.02		65.10
KM-21-58A		569.4		641.8		72.5		1.12		1.00		2.84		18.1		0.33		3.03		4.97		7.89		2.50		4.10		6.51
including		584.3		591.9		7.6		0.29		1.19		6.23		4.4		0.40		3.53		5.79		9.19		2.95		4.84		7.68
including		602.3		613.3		11.0		4.02		0.11		1.38		12.6		0.40		4.80		7.88		12.50		4.27		7.01		11.12
including		630.3		630.9		0.7		1.14		6.35		11.20		356.0		0.65		12.28		20.13		31.95		9.05		14.83		23.53
including		633.5		641.8		8.3		1.53		2.33		5.12		26.5		0.36		5.20		8.53		13.53		4.19		6.87		10.91
KM-21-58A		665.5		676.0		10.5		0.12		2.90		3.88		167.5		1.92		5.13		8.41		13.34		3.69		6.04		9.59
including		672.5		676.0		3.5		0.12		6.89		6.40		332.0		3.81		10.26		16.82		26.70		7.19		11.78		18.69
including		673.6		674.5		0.9		0.28		19.65		12.65		844.0		10.20		26.07		42.74		67.82		17.86		29.27		46.45
KM-21-58B		543.2		627.6		84.4		1.05		2.38		3.44		23.8		0.55		4.13		6.77		10.75		3.23		5.29		8.39
including		571.2		582.5		11.3		0.51		5.27		9.96		35.4		1.52		8.18		13.40		21.27		6.31		10.34		16.41
including		605.3		622.7		17.4		3.20		6.19		4.18		40.9		0.22		8.96		14.69		23.31		6.83		11.20		17.78
including		609.6		612.0		2.4		1.45		17.73		7.97		82.5		0.44		16.08		26.35		41.81		11.03		18.07		28.68

The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 80%. (2) Assumptions used in USD for the copper and gold Metal Equivalent calculations were metal prices of $4.63/lb Copper, $1937/oz Gold, $25/oz Silver, $1.78/lb Zinc, and $1.02/lb Pb. Assumed metal recoveries (rec.), based on a preliminary review of historic data by SRK and ProcessIQ³, were 90% for each of copper, zinc, and lead, and 60% for each of gold and silver. The following equation was used to calculate copper equivalence: CuEq = Copper (%) (90% rec.) + (Gold (g/t) x 0.61)(60% rec.) + (Silver (g/t) x 0.0079)(60% rec.) + (Zinc (%) x 0.

Contacts

For further information, please contact:

Marc Pais

President and CEO Arizona Metals Corp.

(416) 565-7689

[email protected]
www.arizonametalscorp.com
https://twitter.com/ArizonaCorp

Read full story here