Mr. Richard Warke reports

ARIZONA MINING APPOINTS JAMES GOWANS AS PRESIDENT & CEO; ANNOUNCES $2.7 MILLION FINANCING

James (Jim) K. Gowans will be appointed as president and chief executive officer and a director of Arizona Mining Inc. effective Jan. 1, 2016. The company also announces a financing by way of a non-brokered private placement and a loan for a total of $2.7-million.

Mr. Gowans was formerly co-president of Barrick Gold Corp. from July, 2014, to August, 2015, and executive vice-president and chief operating officer from January to July, 2014. Recent prior roles include managing director of Debswana Diamond Co. (Pty.) Ltd., president and chief executive officer of De Beers Canada Inc., chief operating officer and senior vice-president of International Nickel Indonesia tbk PT, and executive vice-president at Placer Dome Inc. Mr. Gowans has more than 30 years of experience in mineral exploration, mine feasibility studies, opening new mines, commissioning mine expansions, and in the development of best practices in mine safety, mine operations and economic performance improvement.

Mr. Gowans is currently a director of Cameco Corp. and was recently appointed a director of Gedex Inc., an innovative geophysics systems company. He previously served as the president of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) and as a director of the Conference Board of Canada. Mr. Gowans is a professional engineer and received a bachelor of applied science degree in mineral engineering from the University of British Columbia and attended the Banff School of Advanced Management.

Following Mr. Gowans's appointment, Richard Warke will become executive chairman of the company.

Mr. Warke, chairman and chief executive officer of the company, commented: "We are very excited to have a mining executive of the reputation and calibre of Jim Gowans join our team at this critical time in our exploration program. His commitment to be part of the new Hermosa North West project further confirms what the results from the seven holes recently drilled already clearly indicate -- we have the makings of a significant zinc/lead/silver deposit on our hands. In addition to bringing his management, base metals and project development expertise to the company, having Jim on board will also enable Don Taylor, who discovered the Hermosa North West mineralization, to fully focus on and direct the exploration effort as we move the project forward. To that end, Don will continue in his role as chief operating officer and remain a director of the company."

The financing comprises a private placement of two million units at a price of 35 cents per unit with each unit consisting of one common share and one common share purchase warrant for total proceeds of $700,000. Each common share purchase warrant is convertible into one common share of the company at a price of 45 cents for a period of five years from closing. Insiders of the company will be subscribing for 1.3 million units of the private placement. In addition, the company has secured a further loan from its chairman and CEO for $2,044,000 in addition to the $2.0-million advanced since June, 2015. The new loan will be unsecured, bear interest at 10 per cent compounded monthly and will be repayable on the earlier of the company completing a private placement of $2,044,000 or more and one year. Proceeds from the financing are expected to be used for general working capital purposes and to further the Hermosa North West project. Closing of the private placement and the loan are subject to regulatory approval.

In other corporate developments, effective Oct. 26, 2015, the company expanded its name from AZ Mining Inc. to Arizona Mining Inc.

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