Mr. Mike Stark reports

ARIZONA GOLD & SILVER INTERSECTS DEEP, HIGH-GRADE MINERALIZATION AT PHILADELPHIA PROJECT: 9.04 GPT GOLD & 34 GPT SILVER OVER 20.43 METRES FROM 320.73 METRES

Arizona Gold & Silver Inc. has released very positive assay results from the continuing core drilling program at the Philadelphia project in Arizona. Drilling has intersected the highest-grade and thickest gold-silver mineralized intercept to date with hole PC25-156 returning 9.04 grams per tonne (gpt) gold (Au) and 34 gpt silver (Ag) over 20.43 metres (m).

Highlights:

• High-grade depth extension success: PC25-156 results confirm that the Perry vein system, a large and thick Au-Ag vein-style deposit, increases in thickness and grade with depth.
  • 9.04 gpt Au and 34.0 gpt Ag over 20.43 m from 320.73 m depth hosted within:
    • 5.61 gpt Au and 29.2 gpt Ag over 38.72 m from 312.50 m depth:
      • Including:
      • 45.60 gpt Au and 54.9 gpt Ag over 1.19 m from 325.64 m depth.
• Metallic screen analyses under way: PC25-154, -155 and -156 are being evaluated for potential impact of particle gold, as fine-grained visible gold is seen in the core;
• Continued exploration drilling planned: drilling will continue with three additional holes planned to test further expansion of the vein along strike;
  • Deposit is open in all directions;
• Expanded exploration program for 2026: amendment submitted to the United States Bureau of Land Management to expand exploration area by 200 acres and prepare 16 new drill pads for 2026.

Mike Stark, president and chief executive officer, commented: "These outstanding results validate our belief in the untapped potential at depth within the Perry vein system. With consistent high-grade intercepts and visible gold in core, we are seeing increasing scale and grade as we drill deeper. Our 2026 exploration expansion reflects our confidence in this project's ability to evolve into a significant gold-silver deposit in Arizona."

Summary of drill hole PC25-156

The gold and silver mineralization in PC25-156 is hosted in brecciated, banded and massive vein quartz comprising quartz vein and quartz vein breccia. Continued drilling demonstrates that this system increases in size and grade with depth, as illustrated in the long section of drilling and the geological model.

Greg Hahn, vice-president of exploration, reports: "This drill hole confirms we are drilling a large and thick vein deposit of gold and silver that continues to increase in grade with depth, as suggested by the vein textures as reported previously (press release dated Aug. 14, 2025). Importantly, the gold and silver grades are not confined to the banded and massive vein but include intervals within the vein breccia that carry clasts of vein material containing fine-grained visible gold and that likely represent fragments of unbrecciated banded and massive vein material present further down dip. I don't believe we have seen the heart of the system yet."

QA/QC (quality assurance/quality control)

All core holes are HQ sized. All core samples were delivered to Skyline Labs in Tucson, Ariz., under a strict chain of custody. All core delivered is sawed in half as stipulated by the project geologist, with one-half sampled at designated intervals for assaying and the other half preserved for further studies. Once sampled, the individual samples go through crushing, splitting, pulverizing and further splitting before a sample split is delivered for assaying. All core sawing, sample preparation and assaying are conducted by Skyline Laboratories, an ISO 9001 certified independent lab. Gold is determined by fire assay with an AA finish and silver is determined by four-acid digestion and ICP-MS methods within a 31-element suite. Samples returning greater than five parts per million gold are reassayed with a gravimetric finish. Ten samples exceeded the five ppm overlimit threshold and were reassayed using a gravimetric finish.

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 Skyline Labs in Tucson, Ariz., in addition to the independent QA/QC protocols of Skyline Labs.

Mineralized intervals from core holes PC25-154, -155 and -156 are all being rerun by metallic screen analyses to assess the potential impact of particle gold in these samples. Fine-grained visible gold is seen in the core frequently. Metallic screen analyses completed on the high-grade intercept in core hole negative 136 match the 30-gram one-assay-ton gravimetric analyses very well.

Plan for remainder of 2025

The company has arranged for a core rig to arrive on the property in October to drill three holes. These holes are anticipated to take the company into early 2026, the results of which will inform the final design of the 2026 drill program. Meanwhile, the company has submitted an amendment to its plan of operations with the U.S. Bureau of Land Management to expand the exploration drilling area by 200 acres and to clear an additional 16 drill pads and access roads for construction and drilling beginning in early 2026. These proposed drill sites will provide the ability to drill down dip and along strike on the Perry vein at least another 500 metres, and to be able to deploy multiple rigs simultaneously to accelerate evaluation of the Perry vein, as warranted.

Qualified person

Gregory Hahn, vice-president of exploration and a certified professional geologist (No. 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 Gold & Silver Inc.

Arizona Gold & Silver 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.

We seek Safe Harbor.