Happy New Year!
I am pleased to update shareholders on Arizona Silver Exploration’s 2022 year and how we see 2023 shaping up.

2022 was a challenging year for all junior explorers due to the lingering effects of Covid-19 combined with a severe shortage of investment capital. Fortunately, investors supported us to the tune of $3.1 million, an amount sufficient to complete our planned 2022 program and to continue drilling into 2023.

I would like to focus on our Philadelphia gold-silver project as quite justifiably it is receiving most of our attention. The project comprises both leased patented claims (third party) and claims staked (owned) by us. Assembly of the claim package began in 2019 and was completed in late 2021.

The order that the claims were acquired governed where we could drill at any point in time, such that it might have appeared that we were jumping from place to place.  In 2022 we were able to be more systematic, and now we can fill in some large untested gaps in the vein system.

We began drilling at the north end of Philadelphia in 2019. Subsequent drill programs were mostly achieved with reverse circulation (RC) drilling, a technique considered ideal for shallow drilling. Please consult the website for a timeline of drilling activity.

I will remind you that Philadelphia is a high-grade discovery within a district of past high-grade producers. Sixteen kilometres away the Oatman district has produced over 2.5 million ounces of gold. The high-grade vein was developed to 300 meters depth and is still being mined below that level in the Gold Road mine. In other words, the pedigree of the district is ideal for another very substantial discovery. Importantly, however, we must push our drilling deeper.

We have direct evidence for drilling deeper on the Perry claim.  Fifteen RC holes intersected the vein, with vein thicknesses generally increasing with depth.  The deepest intercepts also look the best geologically, in terms of “boiling zone textures”.  It thus appears that we have the complete high grade boiling zone preserved intact on that claim.  Earlier this year we were visited by Dr. Stewart Simmons, a world-renowned geologist of epithermal systems. After reviewing data and core, he confirmed we simply must drill deeper to find the sweet spot.

In late 2022 we completed three core drill holes.  Assay results are pending. Drilling below 105 metres intersected the vein as expected, with promising green and banded vein quartz indicative of good grades within the boiling zone.

In 2023 I would like to see both deeper core drilling and RC drilling on the gaps in our drill hole pattern.

The Silverton, Ramsey and Sycamore Canyon Projects

The Silverton Project in Nevada is a “Carlin style” gold-silver target. The following interview with Vice President Exploration, Greg Hahn is very informative. The project is on care and maintenance.

https://www.stockpulse.com/Profile/AZS:CA/MediaPlayer/71

The Ramsey Project is the only ‘silver only’ property in our portfolio. We are keeping the property in good standing and will continue to update you if/when any agreements are finalized.

The Sycamore Canyon Project is also on care and maintenance awaiting a drilling permit from the US Forest Service.
Our treasury remains in good shape. We have sufficient funds to begin a drilling program in Q-1 of 2023. Our long-term objective is to complete the drilling necessary to scope out a significant high grade gold system at Philadelphia. Commensurate with that success we would anticipate Arizona Silver would have a very attractive market capitalization. We would then make the Company available to a strategic investor for purchase.  To accomplish that we have a very dedicated team working for you. I would like to recognize the following people: Greg Hahn, Marc Stengel, Brady Stiles, Kathy Bartels, Barbra Carroll and our newest team member Jim Engdahl to the board. We look forward to 2023, and a return of our first 3 core holes results to kick off the new year.

In closing, I ask everyone to take note of our website thanks to Tim Grzyb, which is always being updated  https://arizonasilverexploration.com/

Thanks for your time and investment in Arizona Silver Exploration.  As always, I welcome your phone calls.

Regards,
Mike Stark, CEO, President
Arizona Silver Exploration Inc. 
C  604.833.4278