Arizona Silver Exploration Inc. (TSX-V: AZS) (OTCQB:AZASF) is pleased to announce that it has secured a core drill to test the western edge of the recently identified Red Hill CSAMT geophysical anomaly at the Philadelphia gold-silver project, Mohave County, Arizona.

Mr. Greg Hahn. VP-Exploration comments, “We are excited to be able to contract a core rig at this time of year to test this significant target so soon after its discovery.  If this geophysical anomaly is demonstrated  to be part of the Philadelphia gold system it could considerably change both the size and grade parameters of the project.”

SAMT is a geophysical investigation method for obtaining information about subsurface resistivity. Resistivity values calculated from the CSAMT data relate to geology. CSAMT is often used by mining companies for reconnaissance of larger geographic areas to determine depth to bedrock and to locate faults and resistive anomalies potentially related to ore deposits.

Arizona Silver contracted Zonge Geophysics to perform a CSAMT survey in late January (see press release dated February 7, 2023).  That survey outlined a distinct resistivity low beneath Red Hill (see Figure below).  The anomaly is interpreted to be a clay cap to gold-silver mineralization which underlies the cap. In addition, the western end of the anomaly is marked by a potential “feeder zone”, the structural conduit that channeled the hydrothermal fluids (including gold).  Such structures are known to host high grade mineralization in epithermal systems world-wide.

The Company has permits in hand to drill two core holes totaling 700-750 metres.  A steeper hole will test both the interpreted “feeder” zone to the large flat-lying CSAMT anomaly and the down-dip projection of the high grade hanging wall vein “HW” that has been intersected in multiple drill holes to date.  A shallower hole will test the western portion of the CSAMT anomaly near the interpreted feeder zone.  Testing of the heart of the CSAMT anomaly below Red Hill will have to await the availability of a drill rig and crew that can drill shallow angle holes.  The attached section shows the proposed drill hole locations with respect to the CSAMT anomaly.

Alford Drilling of Elko, Nevada has been contracted to do the drilling. The core rig is scheduled to arrive on site the middle of this week. Results from the recently completed reverse circulation drilling program are awaited.

Qualified Person

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

About Arizona Silver Exploration Inc.

Arizona Silver is a young exploration company focused on exploring gold-silver properties in western Arizona and Nevada. The flagship asset is the Philadelphia property and the subject of this news release.