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Vancouver, British Columbia TheNewswire - June 16, 2026 Arizona Gold & Silver Inc. (TSXV: AZS,OTC:AZASF) (OTCQB: AZASF) is pleased to announce receipt of approval for expansion and exploration drilling at the Philadelphia gold-silver project in northwestern Arizona.
Approval of Planned Activities
The United States Bureau of Land Management ("BLM") has approved modifications to the Company's Exploration Plan which includes construction of 16 new drill pads and associated sumps and access roads covering a total of approximately 14 acres of disturbance. These activities and related disturbances were originally analyzed in the Environmental Assessment for the Exploration Plan, and the BLM has determined that this is a minor modification to the Exploration Plan. The proposed activities are subject to the terms and stipulations in the existing Exploration Plan. The Company has received all necessary drilling approvals and submitted the required bond amount. The Company is awaiting final administrative confirmation from the BLM before commencing drill road and pad construction. .
The proposed and approved drilling program will allow the Company to test:
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the down-dip continuation of high-grade gold-silver intercepts encountered in drill holes PC25-156 thru PC25-159 (press releases dated September 17, 2025, December 08, 2025, and January 06, 2026),
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the 1.5-kilometer strike length of alteration contained along the southern extension of the Arabian Fault, and
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the CSAMT geophysical anomaly detected in 2023 and related target beneath the altered and iron-stained Red Hills.
The Company intends to start this phase of exploration by drilling down-dip of drill hole PC25-156, which intersected 20.43 meters grading 9.04 gpt Au and 34.0 gpt Ag within 60.37 meters grading 4.36 gpt Au and 6.38 gpt Ag (press release dated September 17, 2025),
CEO Mike Stark commented:
"The timing could not be better. We are well funded following our recent $18 million private placement with Sorbie, completed at a premium to market, together with approximately $4.8 million currently in treasury. Management and shareholders have been patient throughout the permitting process, and with this milestone achieved, I anticipate more than two years of active drilling ahead of us.
This program will test the southern extension and down-dip potential of the Perry Zone, as well as the Red Hills target, while ongoing mapping and surface sampling continue to evaluate the district-scale potential of the project. We believe we are only beginning to understand the full scope of this highly prospective mineralized system."
Qualified Person
Dr. Lex Lambeck, SVP Exploration and consultant for Arizona Gold and Silver, Certified Professional Geologist (11734), is the Qualified Person under NI 43-101 and has reviewed and approved the technical content of this 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.
On behalf of the Board of Directors:
ARIZONA GOLD & SILVER 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 2026 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 2026 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 2026 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.
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