Mr. Marc Pais reports

ARIZONA METALS CORP. RECEIVES CONDITIONAL APPROVAL TO GRADUATE TO THE TORONTO STOCK EXCHANGE, ANNOUNCES APPOINTMENT OF DIRECTOR AND DRILLING UPDATE

Arizona Metals Corp. has received conditional approval from the Toronto Stock Exchange to graduate from the TSX Venture Exchange and list its common shares on the TSX.

Final approval of the listing is subject to the company meeting certain standard and customary conditions required by the TSX. Once these conditions are satisfied, the company's shares will begin trading on the TSX under its existing ticker symbol, AMC, and will be delisted from the TSX-V. Shareholders will not be required to take any action in connection with the graduation. The company will make a further announcement once the TSX confirms the date on which its shares will commence trading.

Arizona Metals is also pleased to announce that, in connection with the graduation to the TSX, Rosa Maria Grace Rojas Espinoza has been appointed as an independent member of the board of directors of the company. Ms. Rojas Espinoza has over 14 years of experience as a mining engineer working for multinational mining companies such as Barrick Gold, Grupo Mexico, BHP and Freeport-McMoRan in Peru, Chile and the United States, and in academia as a professor of practice at the University of Arizona. Ms. Rojas Espinoza is the first South American recipient of the Outstanding Young Professional Award by the Society for Mining, Metallurgy and Explorations (SME) in the U.S. (2018), and the first South American and Peruvian engineer, WIM USA (Women in Mining USA) nominee's recipient of the 100 Global Inspirational Women in Mining by Women in Mining UK (2020). Ms. Rojas Espinoza is currently an independent mining consultant, previously working as a senior technical liaison at Eclipse Mining Technologies LLC. Ms. Rojas Espinoza is local to the Kay mine project and brings a wealth of industry experience to the board of directors of Arizona Metals.

Kay mine drill program update

The company has completed a total of 69,000 meters of HQ core drilling in 126 holes at the Kay mine since inception of drilling. There are approximately 19 drill holes with assays pending, which will be released as they become available. The company is fully financed to complete the phase 2 program as well as up to 76,000 meters in the recently initiated phase 3 program, which will be used to test the numerous targets located north, south, and west of the Kay deposit. Construction is currently under way to extend a drill road west of the Kay deposit toward pads C1 and C2, which will be used to drill the Central target from west to east. Targeting of drill holes from pads C1 and C2 is currently being refined using a compilation of geophysical and geochemical data, including on-site XRF (X-ray fluorescence) geochemistry, and on-site, laboratory and airborne hyperspectral data. The company has also recently joined the industry-supported research group CASERM (Center for Advanced Subsurface Earth Resource Models) at the Colorado School of Mines, which is undertaking a study of geochemical vectoring toward mineralization in the Kay deposit. An updated drill plan will be released when road construction nears completion. Permitting is also currently in progress for drill pads W1 and W2, which will allow testing of the Western target.

We seek Safe Harbor.