Slide 1: Developing a High-Grade World-Class Cu-Au-Zn VMS Deposit
Developing a HIGH-GRADE WORLD-CLASS Cu-Au-Zn VMS Deposit Corporate Presentation March 2025 TSX: AMC OTCQX: AZMCF
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Statements contained in this presentation that are not historical facts are “forward-looking and Sugarloaf Peak project; certainty of mineral title; community relations; delays in obtaining information” or “forward-looking statements” (collectively, “Forward-Looking Inform
Slide 3: What Distinguishes Arizona Metals?
WHAT DISTINGUISHES ARIZONA METALS? KAY MINE KAY MINE DRILLING • HIGH GRADE 93.3m at 8.3g/t AuEq • SUBSTANTIAL WIDTH KM-22-60 With significant expansion 125m at 2.2% CuEq and exploration potential KM-22-57B POLYMETALLIC VMS SCALE POTENTIAL Copper, Gold, Zinc, Silver less than 10% of prospectively min
Slide 4: Market Snapshot
MARKET SNAPSHOT CAPITAL STRUCTURE Shares Outstanding (Basic) 136.2 M Market Capitalization $220 M Options 5.25 M Warrants Nil ANALYST COVERAGE Cash (Sept. 30, 2024) $14.4 M Bereket Berhe Rabi Nizami Recent Financing @ $1.70 $27,077,090 Varun Arora Eric Winmill TRADING VOLUME Cole Mcgill Rene Cartier
Slide 5: Senior Management
SENIOR MANAGEMENT DUNCAN MIDDLEMISS SUNG MIN (ERIC) MYUNG President and CEO Chief Financial Officer Duncan Middlemiss, P.Eng, was the President and Chief Executive Officer and a Senior Financial Analyst at Marrelli Support Services Inc. Previously director of Wesdome Gold Mines Ltd. from 2016 to 202
Slide 6: Board of Directors
BOARD OF DIRECTORS JACQUES PERRON KATHERINE ARNOLD Chair Independent Director Experienced Jacques Perron is the Chair and a director at Arizona Metals, Katherine is an Arizona based professional with over 40 years of experience in the mining industry. He engineer and expert on strategic environmenta
Slide 7: Arizona: Two 100% Owned Projects, Kay Mine and Sugarloaf Peak
ARIZONA The Leading Producer of Copper in The US 1 Two 100% owned projects in mining-friendly Arizona: Kay Mine & Sugarloaf Peak Excellent infrastructure at both projects: road, power and water access KAY MINE • Kay Mine Phase 2 Expansion Drill Program (>75,000 m) complete • Kay Mine Phase 3 Program
Slide 8: Kay Mine Surrounded by High-grade Past Producing VMS Mines
KAY MINE Surrounded by High-grade Past Producing VMS Mines Kay is located just 45 minutes or 74 Kilometres North of Phoenix on private and BLM claims with excellent infrastructure KAY MINE • 60 past-producing underground Cu-Au- Zn VMS mines within 150 km radius of Kay Mine • Phelps Dodge’s United Ve
Slide 9: Kay Mine Project Overview
KAY MINE Project Overview OWNERSHIP KAY (FULLY-DILUTED) MINE HIGHLIGHTS KAY MINE HISTORIC RESOURCE • Excellent infrastructure: road, power and water 9% • Historic resource is 52% precious access; includes mineral and water rights metals by value at spot prices • NO Royalties 18% 37% • Metal content
Slide 10: Kay Mine Drilling Pierce Points & Intercept Highlights
KAY MINE Drilling Pierce Points & Intercept Highlights Section view looking NE KM-23-123 KM-20-03A 28.1 m @ 1.0% CuEq including 4.6 m @ 4.84% CuEq 4.1 m @ 2.79% CuEq KM-20-06 KM-21-46 13.5 m @ 1.99% CuEq 12.4 m @ 3.34% CuEq including 2.8 m @ 6.11% CuEq KM-23-103 10.5 m @ 6.15% CuEq including KM-21-1
Slide 11: Kay Mine Drilling Pierce Points & Intercept Highlights
KAY MINE Drilling Pierce Points & Intercept Highlights Section view looking NW KM-23-123 KM-20-03A 28.1 m @ 1.0% CuEq including 4.6 m @ 4.84% CuEq 4.1 m @ 2.79% CuEq KM-20-06 KM-21-46 13.5 m @ 1.99% CuEq 12.4 m @ 3.34% CuEq including 2.8 m @ 6.11% CuEq KM-23-103 10.5 m @ 6.15% CuEq including KM-21-1
Slide 12: Kay Mine Drilling Pierce Points & Intercept Highlights
KAY MINE Drilling Pierce Points & Intercept Highlights Planimetric view KM-20-03A 4.6 m @ 4.84% CuEq KM-20-06 13.5 m @ 1.99% CuEq KM-22-60 KM-21-24 93.3 m @ 5.08% CuEq 90.8 m @ 2.53% CuEq including 20.4 m @ 5.86% CuEq KM-24-94B 65.2 m @ 3.99% CuEq including KM-23-117 14.2 m @ 7.33% CuEq 65.6 m @ 3.5
Slide 13: Discovery Hole in New Kay2 Lens at Kay Deposit
DISCOVERY HOLE IN NEW KAY2 LENS AT KAY DEPOSIT: 50.0 M @ 6.7 G/T AUEQ & 20.1 M @ 3.6 G/T AUEQ 13 TSX: AMC | OTCQX: AZMCF
Slide 14: Formation of VMS Deposits
FORMATION OF VMS DEPOSITS Massive sulphide lenses form on seafloor and are then folded to a vertical orientation during metamorphic events After Hannington et al., 1999 14 TSX: AMC | OTCQX: AZMCF
Slide 15: Kay Mine Folding Provides 10km of Exploration Strike Length
KAY MINE Folding Provides 10KM of Exploration Strike Length NEW DRILL PADS FOR EXPLORATION TARGETS • Planning to permit 6 additional drill pads under existing NOI • Pads located to test multiple exploration targets Kay North Extension—pads 11, 12, 16 North Central Target—pads 13, 14 North West Targe
Slide 16: Kay Mine Property Wide Exploration Targets
KAY MINE Property Wide Exploration Targets NORTH CENTRAL TARGET • Surface rock assays of multi-percent Cu, high-grade Au, and anomalous Zn • Strong soil anomalies • Almost 5 km of strike along folded Kay Mine and additional mineral horizons • 2.7 m @ 0.5% CuEq in drill hole KM-22-95 Kay2 Zone • 0.5
Slide 17: Derisking the Project One Step at a Time
DERISKING THE PROJECT One Step at a Time • Purchasing state and private land to provide operational buffer • Low-impact exploration activities (light, noise, etc.) • Looking for regional water supply that does not compete with or impact the community • Began meteorological and geochemistry studies e
Slide 18: Sugarloaf Peak
SUGARLOAF PEAK Historic resource of 1.5Moz at a grade of 0.5g/t • Oxide gold recoveries of up to 95% • Historic resource of 1.5Moz at a grade of 0.5g/t; estimated to only 70 m depth • Sulphide recoveries of up to 85% • AMC drilling encountered sulphide gold below 500 m depth • Recoveries and reagent
Slide 19: Arizona Metals Looking Ahead
ARIZONA METALS Looking Ahead • Continued drilling at the Kay and newly discovered Kay2 deposits • Ongoing Property Wide Exploration with a focus on Priority Central and Western Targets • Maiden Resource planned to be released H1 2025 • PEA H2 2025 • Ongoing metallurgical work CONTINUE TO DERISK KAY
Slide 20: Thank You!
Thank You! CONTACT MORGAN KNOWLES Vice President, Investor Relations 647.202.3904 mknowles@arizonametalscorp.com TSX: AMC arizonametalscorp.com OTCQX: AZMCF 22
Slide 21: Appendix – Kay Drilling Results
APPENDIX – KAY DRILLING RESULTS Analyzed Grade Analyzed Metal Equivalent Metal Equivalent Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Cu eq % Au eq g/t Zn eq% Cu eq % Au eq g/t Zn eq% KM-21-17 429.5 449.9 20.4 1.81 1.10 1.20 21.2 0.17 3.14 5.15 8.18 2.73 4.47 7.10 including 429.5 434.0
Slide 22: Appendix – Kay Drilling Results
APPENDIX – KAY DRILLING RESULTS Analyzed Grade Analyzed Metal Equivalent Metal Equivalent Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Cu eq % Au eq g/t Zn eq% Cu eq % Au eq g/t Zn eq% KM-21-25B 673.3 674.7 1.4 0.08 2.10 2.39 23.0 0.33 2.53 4.15 6.58 2.01 3.29 5.23 KM-21-25B 681.2 682.6
Slide 23: Appendix – Kay Drilling Results
APPENDIX – KAY DRILLING RESULTS Analyzed Grade Analyzed Metal Equivalent Metal Equivalent Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Cu eq % Au eq g/t Zn eq% Cu eq % Au eq g/t Zn eq% KM-21-40 627.9 680.8 52.9 0.47 2.91 3.40 35.7 0.40 3.93 6.44 10.22 3.17 5.20 8.25 including 641.1 648.
Slide 24: Appendix – Kay Drilling Results
APPENDIX – KAY DRILLING RESULTS Analyzed Grade Analyzed Metal Equivalent Metal Equivalent Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Cu eq % Au eq g/t Zn eq% Cu eq % Au eq g/t Zn eq% KM-21-48 630.3 634.6 4.3 1.11 0.34 0.69 12.7 0.11 1.71 2.80 4.45 1.52 2.49 3.95 KM-21-48 685.5 696.8 1
Slide 25: Appendix – Kay Drilling Results
APPENDIX – KAY DRILLING RESULTS Analyzed Grade Analyzed Metal Equivalent Metal Equivalent Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Cu eq % Au eq g/t Zn eq% Cu eq % Au eq g/t Zn eq% KM-21-56 524.0 525.0 1.1 0.97 0.12 0.07 5.0 0.03 1.12 1.83 2.91 1.01 1.66 2.64 KM-21-56 558.2 563.6 5.
Slide 26: Appendix – Kay Drilling Results
APPENDIX – KAY DRILLING RESULTS Analyzed Grade Analyzed Metal Equivalent Metal Equivalent Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Cu eq % Au eq g/t Zn eq% Cu eq % Au eq g/t Zn eq% KM-22-59A 903.7 905.9 2.1 0.61 0.10 0.65 10.3 0.10 1.02 1.68 2.66 0.92 1.50 2.38 KM-22-60 554.7 648.0
Slide 27: Appendix – Kay Drilling Results
APPENDIX – KAY DRILLING RESULTS Analyzed Grade Analyzed Metal Equivalent Metal Equivalent Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Cu eq % Au eq g/t Zn eq% Cu eq % Au eq g/t Zn eq% KM-22-68 435.9 446.5 10.7 0.54 0.18 0.29 4.3 0.04 0.80 1.31 2.08 0.71 1.17 1.85 KM-22-69 342.0 343.6 1
Slide 28: Appendix – Kay Drilling Results
APPENDIX – KAY DRILLING RESULTS Analyzed Grade Analyzed Metal Equivalent Metal Equivalent Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Cu eq % Au eq g/t Zn eq% Cu eq % Au eq g/t Zn eq% KM-22-81C 787.0 788.5 1.5 0.03 2.02 1.80 30.0 0.39 2.27 3.73 5.92 1.77 2.91 4.61 KM-22-82 226.5 228.0
Slide 29: Appendix – Kay Drilling Results
APPENDIX – KAY DRILLING RESULTS Analyzed Grade Analyzed Metal Equivalent Metal Equivalent Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Cu eq % Au eq g/t Zn eq% Cu eq % Au eq g/t Zn eq% KM-23-97 595.3 596.8 1.5 0.95 0.80 0.03 9.0 0.01 1.52 2.50 3.97 1.29 2.11 3.36 KM-23-98 255.7 258.8 3.
Slide 30: Appendix – Kay Drilling Results
APPENDIX – KAY DRILLING RESULTS Analyzed Grade Analyzed Metal Equivalent Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Cu eq % Au eq g/t Zn eq% KM-20-01 275.8 281.5 5.6 0.57 0.48 1.20 11.6 0.18 1.70 1.61 4.51 including 275.8 276.5 0.6 0.50 1.22 5.04 32.0 0.73 4.23 4.01 11.22 including 27
Slide 31: Appendix – Kay Drilling Results
APPENDIX – KAY DRILLING RESULTS Analyzed Grade Analyzed Metal Equivalent Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Cu eq % Au eq g/t Zn eq% KM-20-10A 527.9 538.6 10.7 1.32 1.66 2.58 27.2 0.30 4.40 4.17 11.66 including 527.9 529.4 1.5 6.69 0.92 1.62 30.2 0.07 8.59 8.14 22.77 including
Slide 32: Appendix – Kay Drilling Results
APPENDIX – KAY DRILLING RESULTS Analyzed Grade Analyzed Metal Equivalent Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Cu eq % Au eq g/t Zn eq% KM-20-15 506.8 510.1 3.3 0.05 0.33 3.73 192.0 1.75 4.24 4.02 11.25 KM-20-16 480.4 518.8 38.4 0.85 0.81 2.24 24.3 0.25 2.87 2.72 7.61 including 4