Mr. Duncan Middlemiss reports

ARIZONA METALS INTERSECTS 29.6 M @ 10.7 G/T AUEQ IN KAY2 ZONE AND DRILLS THIRD-HIGHEST GOLD ASSAY ON THE KAY MINE PROJECT

Arizona Metals Corp. has released assay results from one drill hole in the Kay2 zone at the Kay project in Arizona.

Drill hole KM-25-181 intersected 29.6 metres at 10.7 grams per tonne gold equivalent, including 13.6 m at 17.8 g/t AuEq (Table 1). Drill hole 181 is among the most gold-rich holes drilled in the deposit to date and includes the project's third-highest gold assay from drilling: 35.8 g/t Au (756.2 to 757.1 m). The hole is located approximately 90 m below and deeper in the deposit than hole KM-24-166, the discovery hole in the Kay2 zone. This is a significant intercept and will be incorporated in the coming mineral resource estimate (MRE).

Duncan Middlemiss, president and chief executive officer of Arizona Metals, commented: "The high gold grades in the Kay2 zone continue to indicate a robust mineralized system at Kay and illustrate additional potential for the Kay2 zone to add value to the overall deposit. Results from hole 181 will be included in the upcoming mineral resource estimate for the Kay project, which remains on track for release this month."

To date, drilling in the Kay2 zone has demonstrated dimensions of 100 m along strike and 160 m vertically, with consistently high gold grades throughout. The Kay2 zone is located approximately 100 m north of previously drilled mineralization in the Kay deposit. With the completion of recent drill holes, Arizona Metals has drilled a total of 135,000 m on the property.

The company is fully financed and on track to deliver a mineral resource estimate this month, followed by a preliminary economic assessment (PEA) in the second half of 2025, for its Kay mine project, located in Yavapai county, Arizona. G Mining Services Inc. has been engaged to audit the MRE and complete the PEA. The current phase of resource drilling is complete, and the company has mobilized the two drill rigs to the Kay North Extension target, to be followed by drilling on the North-Central and Western targets. These areas will be drilled for the first time from newly permitted and strategically positioned drill pads, designed to optimize targeting and access. The company plans 10,000 m of exploration drilling at these targets with holes ranging from 300 m to 900 m in depth. The company has chosen these high-priority targets based on analysis of geologic, geochemical and geophysical exploration data generated to date on the project.

Additionally, 5,000 m of reverse circulation drilling are planned at the company's Sugarloaf Peak gold project in La Paz county, Arizona. Drilling and road-construction contractors have been chosen for the project, and the company is preparing to mobilize crews during Q3. The company is executing on all of its previously stated goals for 2025 and looks forward to continuing the development of the company's strong assets.

About Arizona Metals Corp.

Arizona Metals owns 100 per cent of the Kay project in Yavapai county, which is located on 1,669 acres of patented and BLM (Bureau of Land Management) mining claims and 193 acres of private land 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 grams per tonne silver. The historic estimate at the Kay mine project was reported by Exxon Minerals in 1982 (Fellows, M.L., 1982, Kay mine massive sulphide deposit, internal report prepared for Exxon Minerals Company).

The Kay project's historic estimate has not been verified as a current mineral resource. None of the key assumptions, parameters 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 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 project 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 project in La Paz county, which is located on 4,400 acres of BLM claims. The Sugarloaf Peak project 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 gram per tonne (Dausinger, N.E., 1983, phase 1 drill program and evaluation of gold-silver potential, Sugarloaf Peak project, Quartzsite, Ariz., report for Westworld Resources).

The historic estimate at the Sugarloaf Peak project was reported by Westworld Resources in 1983. The historic estimate has not been verified as a current mineral resource. None of the key assumptions, parameters 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 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's labs in Vancouver, Canada, and Reno, Nev., 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 and Reno facilities are ISO 17025 accredited. ALS also performed its own internal QA/QC procedures to assure the accuracy and integrity of results. Parameters for ALS's 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.

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