Arizona Gold & Silver Inc. (TSX-V: AZS) (OTCQB: AZASF) is pleased to announce that is has commenced Phase 2 of its multi-stage metallurgical test program at its Philadelphia Gold-Silver Project, which hosts a significant epithermal gold system in the Oatman District of northwestern Arizona. The focus of this phase of the test program is to further establish low-cost heap leaching as a viable gold extraction method.

Highlights:

• Successful Phase 1 column leach metallurgical test program demonstrated the amenability of the gold-bearing material from the Philadelphia project to low-cost, heap leach extraction methods, with 61-73% gold recoveries achieved.
• Phase 2 column leach metallurgical test work has commenced on a 415-kilogram bulk sample. This test work will integrate High Pressure Grinding Roll (“HPGR”) technology to enhance gold recoveries; and
• Drilling at Philadelphia is ongoing and has to date, demonstrated widths and grades of mineralization that elsewhere in the district are commercially viable for a heap leach gold operation. The metallurgical test work is designed to demonstrate the viability of Philadelphia for a similar large-scale project.

Phase 2 Column Leach Metallurgical Test Program

The Phase 2 column leach test work will consist of four parallel column tests:  two columns of conventionally crushed material, and two columns of HPGR crushed material, each at two different crush sizes (nominally -6.3mm and -12.5mm) for a period of 90 days. The objective of the test program is to assess whether HPGR crushing improves on both gold recovery and rate of recovery, and to quantify any increases realized. In addition, tests will be performed to assess proper levels of cement addition for agglomeration and compaction permeability tests on all column feed material.  Power requirements for HPGR crushing will also be provided.  The above data will be useful in designing and costing an appropriate crushing system for subsequent economic analyses of project development.

The Phase 2 program is the next stage in the multi-stage metallurgical evaluation of the Philadelphia Gold-Silver Project, following up on a successful Phase 1 column leach test program (see news release dated October 23, 2024). The Phase 1 results demonstrated the amenability of the gold-bearing material from the Philadelphia Project to heap leach recovery methods.  Gold recoveries ranged from 61-73% in a 177-day leach cycle at a P80 -6.3mm crush size, with gold extraction continuing beyond the 177-day leach period.  Regression analyses of the test data indicated a total extraction of 70-80% was projected out to a 360-day leach cycle.  Gold extraction is related to particle size under leach, with higher extractions encountered at finer crush and grind sizes. The final report recommended considering HPGR crushing to produce the finer particle size and to generate microfractures within all particles to allow for easier access to the contained gold.  The Phase 1 test results were reported in a news release dated October 23, 2024.

QA/QC Program

A bulk sample of approximately 415 kilograms was collected from the bench cut at the Rising Fawn open pit by company personnel and transported to the Kappes Cassiday & Associates metallurgical testing laboratory in Reno, Nevada. The Company chose KCA for the test work because they have a HPGR crusher in their laboratory facility to generate the appropriate material for testing.  There the samples are inventoried, weighed, and crushed in accordance with test protocols.  KCA will be responsible for all material handling, metallurgical test work, and resulting analytical work involved in the test program and reporting. Targeted head grade was 1.24 grams per tonne gold, based upon previous channel samples taken. Actual head grade of the sample being processed came back at 2.0 grams per tonne, reflecting more gold in the bulk sample than in previous channel samples.

HPGR Crushing Examples

Currently several mining operations are using HPGR crushing in their heap leach operations.  Locally, Golden Queen Mining Company, owned by Andean Precious Metals, operates an open pit mine and heap leach in Mojave County, California, approximately 250 miles west of the Philadelphia project, where they utilize HPGR crushing to obtain a -6.3mm feed for their heap leach process.  KCA has done test work for several other clients that demonstrates a pronounced increase in both gold recovery rates and ultimate recovery using HPGR crushing.

Qualified Person

Gregory Hahn, VP-Exploration and a Certified Professional Geologist (#7122) is a Qualified Person under National Instrument 43-101 (“NI 43-101”) and has reviewed and approved the technical information contained in this news release.

About Arizona Gold & Silver Inc.

Arizona Gold & Silver Inc. 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.