Mr. Mike Stark reports

ARIZONA GOLD & SILVER COMMENCES 27-HOLE DRILL PROGRAM AT THE SILVERTON GOLD-ANTIMONY PROJECT, NEVADA

Arizona Gold & Silver Inc. has commenced a 27-hole reverse circulation (RC) drill program at its Silverton gold-antimony project in Nye county, Nevada, located along U.S. Highway 6 between Tonopah and Ely.

The program is designed to test high-grade antimony-bearing quartz-stibnite veins identified through historic and recent surface sampling, While advancing the company's interpretation that the antimony mineralization may represent leakage from a deeper concealed carbonate-hosted gold system (see press release dated Oct. 8, 2025).

The program will consist of 27 RC holes from 17 drill pads. Most holes will range from 30 to 45 metres deep and are designed to evaluate the potential for near-surface antimony mineralization that could be amenable to open-pit mining methods.

Three of the 27 holes are planned to be drilled to depths of approximately 150 metres plus and cased for potential future diamond drill extensions targeting deeper geophysical and geochemical features interpreted to be prospective for Carlin-type gold mineralization.

The RC drilling contract has been awarded to GroundTruth Drilling Canada/Nevada.

Mike Stark, president and chief executive officer, stated: "Drilling at Silverton marks an important step in advancing a project that combines significant near-surface antimony potential with a deeper gold target in one of Nevada's premier mineral belts. Success at Silverton has the potential to take AZS to another level for investors. The project is fully funded."

Dr. Lex Lambeck, vice-president, exploration, stated: "Silverton exhibits many of the geological characteristics associated with both a significant antimony system and a deeper Carlin-type gold target. The current drill program is designed to evaluate the continuity and orientation of the antimony-bearing structures while advancing our understanding of the broader hydrothermal system and refining targets for future deeper drilling."

Geological setting and target model

Silverton is located in central Nevada within a region affected by Oligocene magmatism and later Basin and Range extension, which reactivated pre-existing structures and focused hydrothermal fluid flow. Oligocene volcanic rocks overlie Upper Devonian carbonate units, including slope breccias with abundant organic material, creating a favourable volcanic-over-carbonate geological setting.

Antimony mineralization occurs as quartz-stibnite veins and stockworks hosted in silicified and argillized ash-flow tuffs within a structurally controlled corridor measuring approximately 900 by 400 metres.

The company interprets the antimony-rich system as a possible upper-level expression of deeper carbonate-hosted mineralization. Supporting evidence includes silicification, decalcification, jasperoid development, elevated arsenic-antimony-mercury pathfinder geochemistry, anomalous gold values, and a conductive MT (magnetotelluric) anomaly approximately one kilometre below surface.

Antimony mineralization

As previously reported by the company on Oct. 8, 2025, surface sampling returned assays up to 7.95 per cent antimony from quartz-stibnite veins, while historical work identified widespread anomalous antimony values associated with gold-bearing hydrothermal alteration.

Historic drilling by Newcrest Resources Inc. intersected anomalous antimony mineralization in 15 RC holes drilled on the property, including an interval reported as six metres grading greater than 1 per cent antimony in hole S-18. Historic overlimit assays were not completed.

The U.S. Geological Survey (USGS) classifies antimony as a critical mineral due to its importance to national security and industrial supply chains.

Drill program objectives

The current drill program is designed to:

1. Test the continuity and orientation of quartz-stibnite veins;
2. Evaluate the broader altered structural corridor;
3. Assess associated gold mineralization;
4. Advance targeting of the deeper MT anomaly and interpreted carbonate-hosted gold system.

Assay results will be released as they become available.

Qualified person

Dr. Lambeck, senior vice-president, exploration, and certified professional geologist (No. 11734), is the qualified person under National Instrument 43-101 and has reviewed and approved the technical content of this release.

About Arizona Gold & Silver Inc.

Arizona Gold & Silver is a leading exploration company focused on uncovering precious metal resources in Arizona and Nevada. With a commitment to sustainable practices and innovative exploration techniques, the company aims to drive value for stakeholders while prioritizing environmental stewardship. The flagship asset is the Philadelphia gold-silver property where the company is drilling off an epithermal gold-silver system ahead of an initial resource calculation.

We seek Safe Harbor.