Mr. Marc Pais reports

ARIZONA METALS CORP ACQUIRES ADDITIONAL PRIVATE LAND FOR DEVELOPMENT INFRASTRUCTURE

Arizona Metals Corp. has completed the acquisition of 100 per cent of an Arizona state land parcel totalling 40 acres, located 400 metres northeast of its Kay mine property. The property was acquired from the Arizona State Land Department by way of an auction process. As part of this process, Arizona Metals commissioned independent biological and archeological studies which both demonstrated zero adverse impacts or remediation requirements. The property includes the surface and water rights, among other rights and benefits. The company has also staked unpatented lode and placer claims that secure mineral rights to this land.

Transaction details

The company will make total payments of $366,100 (U.S.) to the State of Arizona as consideration for a 100-per-cent interest in the property.

Marc Pais, chief executive officer of Arizona Metals, comments: "The acquisition of the property is another significant derisking step in moving the Kay mine deposit closer to a production decision. Including the 71 acres of patented land that host our Kay mine deposit, this acquisition will increase our total holdings of private and patented land to 264 acres. The property is contiguous with and adjacent to the 153 acres of patented land (including water rights and wells) acquired up to November, 2023. The additional land we are acquiring increases the private land suitable for future mine infrastructure by 26 per cent and is in line with our vision of a minimally disruptive operation while also allowing for an expanded operational footprint.

"We believe that our Kay mine project has the potential to become one of Arizona's newest and highest-grade copper-gold-zinc-silver mines, with the main deposit and potential for all infrastructure to be located on private land. This would allow for a relatively small footprint while also providing high-paying jobs to the local community of Black Canyon City. The Kay mine project already has the benefit of being only an hour north of Phoenix, with excellent access to infrastructure, including rail, roads, water and power. The acquisition announced today will provide the potential for an expanded operation, increased flexibility in mine design and accelerated permitting timelines."

About Arizona Metals Corp.

Arizona Metals owns 100 per cent of the Kay mine property in Yavapai county, which is located on a combination patented and Bureau of Land Management claims totalling 1,665 acres that are not subject to any royalties, and 193 acres of private land. 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. The historic estimate at the Kay mine was reported by Exxon Minerals in 1982.

The qualified person who reviewed and approved the technical disclosure in this release is David Smith, CPG.

We seek Safe Harbor.