Mr. Mike Stark reports

ARIZONA GOLD & SILVER RECEIVES APPROVAL FOR EXPANSION AND EXPLORATION DRILLING PROGRAM ON THE PHILADELPHIA GOLD-SILVER PROJECT, ARIZONA

Arizona Gold & Silver Inc. has received approval for expansion and exploration drilling at the Philadelphia gold-silver project in northwestern Arizona.

Approval of planned activities

The U.S. Bureau of Land Management has approved modifications to the company's exploration plan, which includes construction of 16 new drill pads and associated sumps and access roads covering a total of approximately 14 acres of disturbance. These activities and related disturbances were originally analyzed in the environmental assessment for the exploration plan, and the BLM has determined that this is a minor modification to the exploration plan. The proposed activities are subject to the terms and stipulations in the existing exploration plan. The company has received all necessary drilling approvals and submitted the required bond amount. The company is awaiting final administrative confirmation from the BLM before commencing drill road and pad construction.

The proposed and approved drilling program will allow the company to test:

1. The downdip continuation of high-grade gold-silver intercepts encountered in drill holes PC25-156 through PC25-159 (press releases dated Sept. 17, 2025, Dec. 8, 2025, and Jan. 6, 2026);
2. The 1.5-kilometre strike length of alteration contained along the southern extension of the Arabian fault; and
3. The CSAMT geophysical anomaly detected in 2023 and related target beneath the altered and iron-stained Red Hills.

The company intends to start this phase of exploration by drilling downdip of drill hole PC25-156, which intersected 20.43 metres grading 9.04 grams per tonne gold and 34.0 g/t silver within 60.37 metres grading 4.36 g/t Au and 6.38 g/t Ag (press release dated Sept. 17, 2025).

Chief executive officer Mike Stark commented: "The timing could not be better. We are well funded following our recent $18-million private placement with Sorbie, completed at a premium to market, together with approximately $4.8-million currently in treasury. Management and shareholders have been patient throughout the permitting process, and, with this milestone achieved, I anticipate more than two years of active drilling ahead of us.

"This program will test the southern extension and downdip potential of the Perry zone, as well as the Red Hills target, while ongoing mapping and surface sampling continue to evaluate the district-scale potential of the project. We believe we are only beginning to understand the full scope of this highly prospective mineralized system."

Qualified person

Dr. Lex Lambeck, senior vice-president, exploration, and consultant for Arizona Gold and Silver, certified professional geologist (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 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.