Arizona Silver Announces "Buy Out" of Existing NSR on its 100% Owned Philadelphia Property

2020-11-12 / @thenewswire

(TheNewswire)

Vancouver, British Columbia – TheNewswire - November 12, 2020 – Arizona Silver Exploration Inc. (the “Company” or “Arizona Silver”) (TSXV:AZS) (OTC:AZASF) is very pleased to announce that it has bought out the existing NSR on the Philadelphia property.

“We are pleased to continue to build shareholder value in Arizona Silver Exploration. This NSR buy-out shows continued commitment from management to raise future opportunity for investment in Arizona Silver Exploration. You simply can’t put a value to this 1% NSR until a resource is determined, but the path forward to future development has no outstanding encumbrances. We have no future lease or NSR payments due on our Philadelphia property,” stated Mike Stark, President and CEO.

Current Drilling Update

Arizona Silver has drilled two RC holes on Section 100N and one core hole on Section 200N. Samples from all three holes have already been delivered to ALS's sample prep facility in Tucson, AZ. In addition, we have completed six pre-collar RC holes to depths between 100-300 ft on Sections 300N and 400N. See link to sections: http://arizonasilverexploration.com/philadelphia-property/

The six remaining holes will be cased and then cored through the targeted high-grade vein. The core rig is currently completing the second core hole on Section 200N, and has the six pre-collar holes yet to drill. The company expects results to start coming in prior to Christmas and to continue well into the new year.

Greg Hahn, VP Exploration and a Certified Professional Geologist (CPG#7122), and a Qualified Person, has reviewed an approved the content of this release.

On behalf of the Board of Directors:

ARIZONA SILVER EXPLORATION INC.

Mike Stark, President, CEO and 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 2020 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 2020 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 2019 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.