Arizona Gold & Silver Announces Assay Results from Philadelphia Project

Vancouver, British Columbia — May 6, 2026 — Leads & Copy — Arizona Gold & Silver Inc. (TSXV: AZS) (OTCQB: AZASF) has announced assay results from four diamond drill holes completed at the Philadelphia Project in Arizona. The ongoing drill program included three drill holes, PC26-162, PC26-163, and PC26-164, which tested up-dip extensions of the high-grade Perry Zone, and one hole, PC26-161, that tested a deeper lateral position.

The company completed four diamond drill holes totaling 1,105 meters. The infill drilling of the Perry Zone fluid upwelling system showed strong continuity of mineralization across multiple holes. Field exploration is ongoing to define property-wide drill targets, highlighting district-scale potential.

Key intercepts from the drill holes include:

PC26-162 showed 3.35m at 15.07 gpt Gold (“Au”) and 19.6 gpt Silver (“Ag”) within 6.92m at 8.82 gpt Au and 13.7 gpt Ag, and within 28.32m at 2.81 gpt Au and 4.9 gpt Ag.

PC26-163 showed 2.68m at 6.74 gpt Au and 3.1 gpt Ag within 14.63m at 2.39 gpt Au and 2.0 gpt Ag, and within 23.35m at 1.66 gpt Au and 1.9 Ag gpt.

PC26-164 showed 7.41m at 4.39 gpt Au and 5.6 gpt Ag within 9.91m at 3.68 gpt Au and 4.9 gpt Ag, and within 60.02m at 1.32 gpt Au and 3.1 gpt Ag.

PC26-161 showed 2.35m at 1.09 gpt Au and 2.3 gpt Ag.

Dr. Lex Lambeck, Senior Vice President Exploration, said the drill holes are testing the Perry Zone Upwelling, where fluids in the hydrothermal system have been focused. Lambeck added that vein textures and mineralization styles confirm that the company remains at the top of the boiling zone along the approximately three kilometers strike of the Arabian Fault.

The company's objective is to expand the Perry Zone both north-south and down dip while advancing district-scale exploration across the entire Philadelphia Property. Ongoing fieldwork is defining additional high-priority targets, including the Eastern and Northeastern Anomalies. Progress on the BLM permit remains on track, which will allow drilling of the down dip extension of the Perry Zone and the Red Hills area.

Mike Stark, President & CEO, commented that with the recently announced funding agreement with Sorbie (News Release March 18th, 2026) the Company can significantly increase their exploration programs, allowing drilling on both Philadelphia and initiation of drilling at the Silverton gold-antimony property. Stark anticipates increased news flow through 2026.

During Q1-2026, the Company completed four diamond drill holes totaling 1105m, with additional assays pending. Three additional holes are in the lab for assay. Holes PC26-162, 163, and 164 were designed to test up-dip extensions of mineralization intersected in holes PC25-156, PC25-157, and PC25-158 and expand the system along strike relative to hole PC25-136 (See July 05, 2025 News Release). Hole PC26-161 tested a deeper lateral extension and intersected low grades lateral to the main upwelling zone.

The results from this program confirm the strong continuity of the fluid upwelling zone previously identified (See Sept. 17, 2025 News Release) and the predictable geometry of boiling zone textures and high-grade gold mineralization.

Drilling continues along the Perry Zone, where ongoing structural analysis is identifying additional upwelling and dilation zones along the Arabian Fault that may host high-grade mineralization. The Company is awaiting receipt of a BLM drill permit, which will enable down-dip drilling at the Perry Zone and provide access to the Red Hills area. The program is designed to advance exploration along strike to the north and south while also testing the potential for large bulk-tonnage mineralization beneath Red Hills, with the objective of expanding both shallow and deeper mineralized zones.

Concurrent field exploration programs continue to refine property-wide drill targets. All core samples were processed at Skyline Labs in Tucson, Arizona. Gold was analyzed by fire assay with AA finish, with over-limits re-analyzed gravimetrically. Silver and multi-element analysis were completed using ICP-MS methods. The Company maintains a rigorous QA/QC program including insertion of certified standards and blanks.

Dr. Lex Lambeck, SVP Exploration and Certified Professional Geologist, has reviewed and approved the technical content of this release.

Arizona Gold & Silver Inc. is focused on uncovering precious metal resources in Arizona and Nevada, with the flagship asset being the Philadelphia gold-silver property.

Source: Arizona Gold & Silver