Mr. Morgan Knowles reports

ARIZONA METALS WELCOMES TWO NEW DIRECTORS AND ANNOUNCES AGM RESULTS

Arizona Metals Corp. has added two new directors to the board, effective as of June 27, 2023.

The company welcomes Katherine Arnold as an independent director. Ms. Arnold is an Arizona-based professional engineer and expert on strategic environmental permitting and compliance. Ms. Arnold is formerly director of environment and vice-president, environmental and regulatory affairs, for Hudbay's Rosemont copper unit, where she managed the Nepa process for a plan of operations for the forest service, as well as 404 permitting that included Section 106 consultation, Section 7 consultation and mitigation planning. Her experience also includes over 17 years with Asarco in various positions spanning operations, management and environmental engineering. Ms. Arnold serves on several non-profit boards as a director, including the Montana Technological University Foundation, where she chairs the fundraising subcommittee. Ms. Arnold has obtained an ICD.D designation through the Institute of Corporate Directors and the Rotman University directors education program (December, 2022). Ms. Arnold also serves on the board of Faraday Copper.

The company is also pleased to announce that Mike Pilmer has joined the board as an independent director and will serve as chair of the audit committee. Mr. Pilmer's appointment was approved by the newly constituted board of directors following the conclusion of the annual general meeting. Mr. Pilmer will replace Colin Sutherland, who has resigned to focus on other commitments. The company thanks Mr. Sutherland for his years of service and wishes him well in his future endeavours.

Mr. Pilmer has a background in banking, media and digital content solutions. After receiving his MBA, Mr. Pilmer joined the corporate and investment banking group of TD Bank, working on the team covering the media and communications sector in Canada. He held senior positions at Southam Inc., Hollinger Capital and The Stronach Group, as well as president and chief executive officer of LexisNexis Canada. He later joined Postmedia as the senior vice-president of content works, which were anchored by the business group Infomart. When Infomart was sold to Meltwater NV, he joined Meltwater to oversee the integration of Infomart into Meltwater, which was completed in 2020. Mr. Pilmer was also on the board of HR.com from 2005 to 2018, and he has a BA and an MBA from Western University.

The company also announces the results of the company's annual general meeting of shareholders held in Toronto, Ont., on June 27, 2023. Shareholders approved the re-election of all directors and the new election of Ms. Arnold. The advance notice bylaw policy and the reappointment of McGovern Hurley LLP, chartered professional accountants, as auditor of the company were also all approved by shareholders.

A total of 56,268,124 shares were voted, representing 48.69 per cent of the common shares that were issued and outstanding at the record date for the AGM. Refer to the attached table for the detailed results of the votes for each director.

About Arizona Metals Corp.

Arizona Metals owns 100 per cent of the Kay mine project in Yavapai county, which is located on a combination of patented and BLM claims totalling 1,300 acres that are not subject to any royalties. A historic estimate by Exxon Minerals in 1982 reported a proven and probable reserve of 6.4 million short tons at a grade of 2.2 per cent copper, 2.8 grams per tonne gold, 3.03 per cent zinc and 55 g/t silver" (M.L. Fellows, 1982, Kay mine massive sulphide deposit: internal report prepared for Exxon Minerals Company, November, 1982, 29 pages). The historic estimate at the Kay mine deposit was reported by Exxon Minerals in 1982. The historic estimate has not been verified as a current mineral resource. None of the key assumptions and methods used to prepare the historic estimate were reported, and no resource categories were used. Significant data compilation, redrilling and data verification may be required by a qualified person (as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects)) before the historic estimate can be verified and upgraded to be a current mineral resource. A qualified person has not done sufficient work to classify it as a current mineral resource, and Arizona Metals is not treating the historic estimate as a current mineral resource.

The Kay mine deposit is a steeply dipping VMS (volcanogenic massive sulphide) deposit that has been defined from a depth of 60 metres to at least 900 metres. It is open for expansion on strike and at depth.

The company also owns 100 per cent of the Sugarloaf Peak property, in La Paz county, which is located on 4,400 acres of Bureau of Land Management claims. Sugarloaf is a heap leach, open-pit target and has a historic estimate of 100 million tons containing 1.5 million ounces gold at a grade of 0.5 g/t (Dausinger, 1983, Westworld Resources).

The historic estimate at the Sugarloaf Peak property was reported by Westworld Resources in 1983. The historic estimate has not been verified as a current mineral resource. None of the key assumptions and methods used to prepare the historic estimate were reported, and no resource categories were used. Significant data compilation, redrilling and data verification may be required by a qualified person before the historic estimate can be verified and upgraded to a current mineral resource. A qualified person has not done sufficient work to classify it as a current mineral resource, and Arizona Metals is not treating the historic estimate as a current mineral resource.

Qualified person and quality assurance/quality control

All of Arizona Metals' drill sample assay results have been independently monitored through a quality assurance/quality control (QA/QC) protocol, which includes the insertion of blind standard reference materials and blanks at regular intervals. Logging and sampling were completed at Arizona Metals' core handling facilities located in Phoenix and Black Canyon City, Ariz. Drill core was diamond sawn on site, and half drill-core samples were securely transported to ALS Laboratories' sample preparation facility in Tucson, Ariz. Sample pulps were sent to ALS Laboratories in Vancouver, Canada, for analysis.

Gold content was determined by fire assay of a 30-gram charge with ICP finish (ALS method Au-AA23). Silver and 32 other elements were analyzed by ICP methods with four-acid digestion (ALS method ME-ICP61a). Overlimit samples for gold, silver, copper and zinc were determined by ore-grade analyses Au-GRA21, Ag-OG62, Cu-OG62 and Zn-OG62, respectively.

ALS Laboratories is independent of Arizona Metals, and its Vancouver facility is ISO 17025 accredited. ALS also performed its own internal QA/QC procedures to assure the accuracy and integrity of results. Limits for ALS Laboratories' internal and Arizona Metals' external blind quality control samples were acceptable for the samples analyzed. Arizona Metals is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein.

The qualified person who reviewed and approved the technical disclosure in this release is David Smith, CPG, a qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Smith supervised the preparation of the scientific and technical information that forms the basis for this news release, and has reviewed and approved the disclosure herein. Mr. Smith is the vice-president, exploration, of the company. Mr. Smith supervised the drill program and verified the data disclosed, including sampling, analytical and QA/QC data, underlying the technical information in this news release, including reviewing the reports of ALS, methodologies, results, and all procedures undertaken for quality assurance and quality control in a manner consistent with industry practice, and all matters were consistent and accurate according to his professional judgment. There were no limitations on the verification process.

We seek Safe Harbor.