Mr. Kevin Reid reports

ARIZONA EAGLE MINING CORP. COMPLETES ACQUISITION OF THREE PAST-PRODUCING HIGH-GRADE SILVER MINES TO CONSOLIDATE EAGLE SILVER PROJECT

Arizona Eagle Mining Corp. has completed the acquisition of 62 acres of patented land that host three past-producing high-grade silver mines: the Arizona National mine, the Lookout mine and the Silver Belt mine (the silver parcels). These five parcels are located on strike with, and approximately one kilometre northeast of, the company's McCabe gold-silver deposit. The acquisition included an operating water well with extraction rights.

Kevin Reid, chief executive officer of Arizona Eagle, commented: "We are pleased to close the strategic acquisition of three past-producing high-grade silver mines, consolidating the Eagle silver project, located within close proximity of the gold and silver McCabe mine. These high-grade silver mines served as major sources of silver production in Arizona until the 1930s. Mining operations at that time were limited to relatively shallow oxidized depths, with the deepest shaft reaching only 150 metres, allowing for the opportunity for further discoveries at depth. These mines have been privately held by multiple parties and dormant for almost 100 years. Surface sampling on the Eagle Silver property has returned grades up to 344 grams per tonne silver, with sampling of the Arizona National mine waste pile returning grades of up to 861 g/t silver and 15.6 g/t gold. An additional sampling program was recently completed on the newly acquired claims.

"Applying the same strategy we are employing at the McCabe gold-silver deposit, we see the opportunity to revive these mines through the application of modern exploration methods and systematic drilling, and we firmly believe that the Eagle project offers exceptional discovery potential in one of Arizona's most prolific historic gold-silver districts. These acquisitions extend the structural corridor of mineralization northeast of McCabe by 50 per cent, from three kilometres to 4.5 km and will also increase our patented land ownership by 18 per cent, from 348 to 410 acres. Our phase 1 drill program, focused on the McCabe mine structure but outside the historic resource estimate, has been completed, with results of the final two holes pending. We look forward to delivering results as we advance these highly prospective projects."

Previously reported surface sampling on these claims by Arizona Eagle has returned silver grades including 344 g/t, 255 g/t, 234 g/t as well as 2.4 g/t gold. Recent testing of the tailings dumps in the first quarter of 2026 adjacent to the Arizona National mine shaft included a sample that returned a grade of 861 g/t silver, 2.9 per cent zinc, 1.7 per cent lead and 0.2 g/t gold. A second sample returned 518 g/t silver with 1.3 per cent zinc. A third sample returned 15.6 g/t gold, 297 g/t silver and 1.5 per cent zinc (see Table 1 below for waste pile samples).

Arizona National mine

The Arizona National mine comprises three shafts and seven levels to a depth of 500 feet (150 metres). The deposit was mined intermittently between 1915 and 1931 and reported shipments of silver-lead ore and concentrates (Anderson, 1958).

Sampling conducted in February, 2026, of the Arizona National mine waste pile undertaken by the company returned numerous samples of high-grade silver, gold and zinc (see Table 1 below). An additional sampling program was completed on the parcels in July 2026, with results pending.

Lookout mine

This Lookout mine is located on the Silver Belt vein, about 1,000 feet (304 metres) southwest of the Arizona National mine. The mine was last in operation from 1948 to 1949 and production was reported to consist chiefly of galena (lead sulphide), sphalerite (zinc sulphide) and gold (Anderson, 1958).

Silver Belt mine

The Silver Belt mine was discovered in the 1880s and was mined until the 1930s. The mine includes four shafts and at least four underground levels. This deposit was mined to a depth of only 250 feet (80 metres), with grades reported up to 20 ounces per ton silver (600 g/t), with 3 per cent lead, 4 per cent zinc and minor gold (Anderson, 1958).

Eagle project overview

Arizona Eagle holds a 100-per-cent interest in the Eagle project, located in Yavapai county, Arizona. The Eagle project is anchored by the past-producing McCabe gold and silver mine, situated on 410 acres of private land. Stan West Mining historically invested more than $35-million (U.S.) (approximately $110-million (Canadian) in today's dollars) to drill and develop the mine. In 1984, Stan West Mining published a historic estimate of approximately 878,000 ounces of gold grading 11.7 g/t and five million ounces of silver grading 69 g/t, defined to a maximum depth of approximately 440 metres and open in all directions.

Over the past two years, Arizona Eagle has expanded its total land position to 4,231 acres through staking and acquisitions surrounding the McCabe mine. During this time, the company completed exploration programs focused on geological mapping, surface sampling, helicopter-borne VTEM (versatile time-domain electromagnetic) surveys and ground-based induced polarization surveys that identified multiple parallel mineralized structures that have not been historically drill tested.

Phase 1 drill program

In the first quarter of 2026, the company initiated a phase 1 drill program of seven holes. The drill program was designed in part to explore the lateral and vertical continuity of the McCabe veins in and around the historic resource. Results of the first two holes were announced on May 6, 2026, with the remaining five holes to be released in the third quarter of 2026.

Phase 2 drill program

The company recently completed a sampling program on the newly acquired silver parcels, with results pending. A SkyTem geophysical survey is also planned to test for structural continuity between the McCabe mine and the three past-producing silver mines, on strike to the northeast. Results of the sampling and geophysics will be used to define expansion targets on strike as well as guide resource definition drilling at the McCabe mine.

About Arizona Eagle Mining Corp.

Arizona Eagle is a mineral exploration company focused on the acquisition, exploration and development of mineral properties. Arizona Eagle's principal asset is the Eagle project, a 4,169-acre property comprising patented and unpatented claims located near the town of Prescott Valley in Yavapai county, Arizona. The Eagle project is centred on the past-producing McCabe mine, a high-grade gold-silver deposit, and includes multiple parallel structures hosting past-producing mines that remain largely untested by modern drilling. While Arizona Eagle's primary focus will be on the exploration and development of the Eagle project, it will continue to own Core Nickel's land portfolio in the Thompson nickel belt of Northern Manitoba.

The scientific and technical information contained in this news release has been reviewed and approved by Dr. Clyde Smith, PhD, vice-president, exploration, of the company, who is a qualified person as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects.

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