Vancouver, BC - TheNewswire - June 21, 2023 - Arizona Silver Exploration Inc. (TSXV:AZS)  (OTC:AZASF) is pleased to announce that it has received final assays from core hole PC23-111 at the Philadelphia epithermal gold-silver project in Mohave County, Arizona. The drill hole was designed to test the down dip and easterly extension of vein and stockwork mineralization intersected some 30 metres away in the deepest previously hole.

Core hole PC23-111 intersected 102.15 metres (“m”) at 0.716 grams per tonne (“gpt”) gold and 4.56 gpt silver from 182.30m to 284.45m.

The total interval includes three intercepts of brecciated vein as follows:

182.3m-185.5m (3.2m) at 6.2 gpt gold and 11.3 gpt silver,

230.6m-231.6m (1.0m) at 4.04 gpt gold and 9.2 gpt silver, and

275.15m-281.64m (6.49m) at 1.91 gpt gold and 8.77 gpt silver.

True thickness of the intercepts is approximately 50% of the drilled thickness. See cross section below.

The three veins are referenced as the HW vein, the intermediate vein, and the FW vein respectively. Readers should refer to the May 16, 2023 News Release for a complete geological description of this drill hole.  

Mr. Greg Hahn. VP-Exploration comments, “As anticipated, PC23-111 confirms the down-dip and eastward continuation of the mineral system. We now await results from PC23-112, a new -45 degree hole from the same pad location as PC23-111. That hole is testing the western portion of a low resistivity CSAMT anomaly that is believed to be a clay cap above the boiling zone at the Red Hills target.  Samples are in the lab and results will be announced when received.”

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QA/QC Program

All assaying was conducted by ALS Global, an independent analytical laboratory. Complete core was delivered to the ALS sample preparation facility in Tucson, Arizona, where the samples are catalogued, photographed, sawed and sampled according to Company-selected intervals. Samples are then crushed and pulverized.  Pulverized splits are sent to the ALS analytical facility in Vancouver, British Columbia for analyses. All material handling is done under a strict chain of custody protocol.  Gold is determined by fire assay with an AA finish, with a gravimetric finish on samples greater than 10 grams per tonne gold, and silver is determined by ICP-MS methods within a 31-element suite.

The Company maintains its own program of inserting Standard Reference material in the form of standards and blanks to the sampling stream, prior to being shipped to ALS's preparation facility in Tucson, Arizona, in addition to the independent QA/QC protocols of ALS Global.

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 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.

On behalf of the Board of Directors:

ARIZONA SILVER EXPLORATION INC.

Mike Stark, President and CEO, Director

Phone: (604) 833-4278

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. Forward-looking statements in this news release include statements in relation to the timing, cost and other aspects of the 2023 exploration program; the potential for development of the mineral resources; the potential mineralization and geological merits of the exploration properties; and other future plans, objectives or expectations of the Company. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include the risk that actual results of current and planned exploration activities, including the results of the Company's 2023 drilling program(s) on its properties, will not be consistent with the Company's expectations; the geology, grade and continuity of any mineral deposits and the risk of unexpected variations in mineral resources, grade and/or recovery rates; fluctuating metals prices; possibility of accidents, equipment breakdowns and delays during exploration; exploration cost overruns or unanticipated costs and expenses; uncertainties involved in the interpretation of drilling results and geological tests; availability of capital and financing required to continue the Company's future exploration programs and preparation of geological reports and studies; delays in the preparation of geological reports and studies; the metallurgical characteristics of mineralization contained within the exploration properties are yet to be fully determined; general economic, market or business conditions; competition and loss of key employees; regulatory changes and restrictions including in relation to required permits for exploration activities (including drilling permits) and environmental liability; timeliness of government or regulatory approvals; and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, including that the Company's 2023 programs would proceed as planned and within budget. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.