Arizona Silver Intersects 33.56 gpt Gold and 54.7 gpt Silver over 2.35 Metres at Philadelphia Gold Silver Property in Mohave County, Arizona

Highlights:

Highest grades of gold, silver, and beryllium encountered to date in hole PC20-37, as follows:

  • – 33.56 grams/tonne (gpt) Au and 54.7 gpt Ag over 2.35 metres, within a thicker interval of10.76 metres containing 9.26 gpt Au , 79.8 gpt Ag, and 344 gpt Bebeginning at a depth of 27.96 metres. – All five of the other core holes from the initial 2020 drilling program returned excellent gold and silver and beryllium values in the target vein adjacent to and down-dip from previously announced high-grade gold-silver drill results on the Philadelphia vein.
  • – 13.3 grams/tonne (gpt) Au and 179 gpt Ag over 1.5 metres,within a thicker interval of9.3 metres containing 3.3 gpt Au and 80.7 gpt Ag, beginning at a depth of 2.9 metres immediately below alluvium. – 11.7 grams/tonne (gpt) Au and 212 gpt Ag over 0.76 metres,within a thicker interval of5.6 metres containing 3.5 gpt Au and 173 gpt Ag, beginning at a depth of 26.9 metres.
  • – A follow-up drilling program is planned to continue to pursue the vein along strike and down dip of the intercepts encountered to date.

Vancouver, British Columbia –TheNewswire –October 05, 2020 – Arizona Silver Exploration Inc. (TSXV:AZS)(OTC:AZASF) is pleased to report continuing high-grade gold and silver assay results from its recently completed core drilling program on the Company’s Philadelphia gold-silver project located in Mohave County, Arizona. The exploration work is focused on the northern strike extension from old high-grade underground mine production during the first half of the 20th century where high-grade drill hole intercepts were reported recently (September 02, 2020).

All six core holes reported here hit the primary vein target either along strike or down dip from the previous high-grade intercepts.

Arizona Silver’s Vice President – Exploration, Greg Hahn, commented, “We are excited that these results demonstrate the gold and silver grades and thicknesses encountered historically to the south of this drilling grogram continue to the north and remain wide open both along strike and down-dip. We will continue to pursue this high-grade vein with more core drilling to further identify grade and thickness within the plane of the vein.”

Summary Table of Core Drill Results

-------------------------------------------------------------
 |PC20-37A SUMMARY RESULTS           |    |    |   |         |
 |-----------------------------------------------------------|
 |Section 400N, 300 az., -75 incl.   |    |    |   |         |
 |-----------------------------------------------------------|
 |                  |                |    |    |   |Est. True|
 |-----------------------------------------------------------|
 |                  |Thickness       |Au  |Ag  |Be |Thickness|
 |-----------------------------------------------------------|
 |MAIN VEIN         |feet            |ppm |ppm |ppm|feet     |
 |-----------------------------------------------------------|
 |PC20-37A 91.7-94.3|2.6             |1.58|31.2|13 |2.0      |
 |-----------------------------------------------------------|
 |PC20-37A 94.3-98.3|4               |37.4|21.3|32 |3.0      |
 |-----------------------------------------------------------|
 |PC20-37A 98.3-102 |3.7             |29.4|90.8|115|2.8      |
 |-----------------------------------------------------------|
 |PC20-37A 102-106  |4               |2.55|150 |481|3.0      |
 |-----------------------------------------------------------|
 |PC20-37A 106-110  |4               |7.68|150 |913|3.0      |
 |-----------------------------------------------------------|
 |PC20-37A 110-114  |4               |4.13|115 |953|3.0      |
 |-----------------------------------------------------------|
 |PC20-37A 114-118  |4               |0.77|109 |498|3.0      |
 |-----------------------------------------------------------|
 |PC20-37A 118-122.7|4.7             |0.67|34.9|30 |3.6      |
 |-----------------------------------------------------------|
 |PC20-37A 122.7-127|4.3             |0.19|13.0|10 |3.3      |
 |-----------------------------------------------------------|
 |                  |                |    |    |   |         |
 |-----------------------------------------------------------|
 |TOTALS 91.7-127   |35.3            |9.26|79.8|344|26.8     |
 -------------------------------------------------------------
---------------------------------------------------------------------
 |PC20-38B SUMMARY RESULTS                 |     |     | |         | |
 |-------------------------------------------------------------------|
 |Section200N, 300 az., -55 incl.          |     |     | |         | |
 |-------------------------------------------------------------------|
 |                   |          |          |     |     | |EST. TRUE| |
 |-------------------------------------------------------------------|
 |                   |Thickness |Au        |Ag   |Be   | |THICKNESS| |
 |-------------------------------------------------------------------|
 |MAIN VEIN          |feet      |ppm       |ppm  |ppm  | |feet     | |
 |-------------------------------------------------------------------|
 |PC20-38B 9.5-11.5  |2.0       |0.70      |24.1 |217.0| |1.8      | |
 |-------------------------------------------------------------------|
 |PC20-38B 11.5-13   |1.5       |0.28      |27.2 |54.4 | |1.4      | |
 |-------------------------------------------------------------------|
 |PC20-38B 13-16     |3.0       |0.27      |70.1 |354.0| |2.7      | |
 |-------------------------------------------------------------------|
 |PC20-38B 16-19     |3.0       |4.12      |77.9 |84.7 | |2.7      | |
 |-------------------------------------------------------------------|
 |PC20-38B 19-23     |4.0       |3.40      |35.4 |29.7 | |3.6      | |
 |-------------------------------------------------------------------|
 |PC20-38B 23-26     |3.0       |0.16      |26.2 |9.1  | |2.7      | |
 |-------------------------------------------------------------------|
 |PC20-38B 26-26.8   |0.8       |0.87      |23.9 |27.8 | |0.7      | |
 |-------------------------------------------------------------------|
 |PC20-38B 26.8-30   |3.2       |0.06      |29.4 |10.1 | |2.9      | |
 |-------------------------------------------------------------------|
 |PC20-38B 30-32     |2.0       |0.88      |97.7 |9.0  | |1.8      | |
 |-------------------------------------------------------------------|
 |PC20-38B 32-35     |3.0       |1.16      |168.0|62.5 | |2.7      | |
 |-------------------------------------------------------------------|
 |PC20-38B 35-40     |5.0       |13.30     |179.0|119.5| |4.5      | |
 |-------------------------------------------------------------------|
 |END OF TWIN OF -38A|          |          |     |     | |         | |
 |-------------------------------------------------------------------|
 |TOTALS 9.5-40      |30.50     |3.33      |80.7 |93.0 | |27.6     | |
 ---------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
 |PC20-38A SUMMARY RESULTS                                     |         |       |     |           |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |Section 200N, 300 az., -55 incl.                             |         |       |     |           |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |            |                                        |       |         |       |     |EST.       |  |  |
 |            |                                        |       |         |       |     |TRUE       |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |            |Thickness                               |Au     |Ag       |Be     |     |THICKNESS  |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |MAIN VEIN   |feet                                    |ppm    |ppm      |ppm    |     |feet       |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-38A    |5                                       |4.52   |37.5     |201    |     |4.5        |  |  |
 |23-28       |                                        |       |         |       |     |           |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-38A    |5                                       |2.46   |37.0     |73     |     |4.5        |  |  |
 |28-33       |                                        |       |         |       |     |           |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-38A    |3                                       |0.90   |32.4     |46     |     |2.7        |  |  |
 |33-36       |                                        |       |         |       |     |           |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-38A    |4                                       |0.19   |51.4     |9      |     |3.6        |  |  |
 |36-40       |                                        |       |         |       |     |           |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-38A    |5                                       |2.55   |163.0    |37     |     |4.5        |  |  |
 |40-45       |                                        |       |         |       |     |           |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-38A    |3                                       |7.16   |185.0    |122    |     |2.7        |  |  |
 |45-48       |                                        |       |         |       |     |           |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-38A    |3                                       |4.23   |171.0    |91     |     |2.7        |  |  |
 |48-51       |                                        |       |         |       |     |           |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-38A    |5                                       |0.17   |183.0    |6      |     |4.5        |  |  |
 |51-56       |                                        |       |         |       |     |           |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |TOTALS 23-56|33                                      |2.61   |105.3    |72     |     |29.9       |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |            |                                        |       |         |       |     |           |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-39A SUMMARY RESULTS                         |                 |       |       |   |            |  |
 |-------------------------------------------------------------------------------------------------------|
 |Section 200N, 310 az., -55 incl.                 |                 |       |       |   |            |  |
 |-------------------------------------------------------------------------------------------------------|
 |                             |                   |                 |       |       |   |EST.        |  |
 |                             |                   |                 |       |       |   |TRUE        |  |
 |-------------------------------------------------------------------------------------------------------|
 |                             |Thickness          |Au               |Ag     |Be     |   |THICKNESS   |  |
 |-------------------------------------------------------------------------------------------------------|
 |HW VEIN or                   |feet               |ppm              |ppm    |ppm    |   |feet        |  |
 |-------------------------------------------------------------------------------------------------------|
 |INTERMEDIATE VEIN            |                   |                 |       |       |   |            |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-39A 9-13                |4.0                |1.22             |10.3   |99     |   |3.6         |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-39A 13-15               |2.0                |0.16             |5.7    |266    |   |1.8         |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-39A 15-17.5             |2.5                |0.77             |8.7    |385    |   |2.3         |  |
 |-------------------------------------------------------------------------------------------------------|
 |TOTAL 9-17.5                 |8.5                |0.84             |8.7    |222    |   |7.7         |  |
 |-------------------------------------------------------------------------------------------------------|
 |                             |                   |                 |       |       |   |            |  |
 |-------------------------------------------------------------------------------------------------------|
 |MAIN VEIN                    |                   |                 |       |       |   |            |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-39A 88.5-93.5           |5.0                |0.25             |241.0  |94     |   |4.5         |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-39A 93.5-95.5           |2.0                |4.39             |116.0  |45     |   |1.8         |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-39A 95.5-98.5           |3.0                |3.17             |111.0  |17     |   |2.7         |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-39A 98.5-101            |2.5                |11.70            |212.0  |49     |   |2.3         |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-39A 101-107             |6.0                |2.67             |150.0  |97     |   |5.4         |  |
 |-------------------------------------------------------------------------------------------------------|
 |TOTAL 88.5-107               |18.5               |3.50             |173.0  |71     |   |16.8        |  |
 |-------------------------------------------------------------------------------------------------------|
 |                             |                   |                 |       |       |   |            |  |
 |                             |                   |                 |       |       |   |            |  |
 |-------------------------------------------------------------------------------------------------------|
 |                                           |                         |       |           | |           |
 |                                           |                         |       |           | |           |
 |                                           |                         |       |           | |           |
 |                                           |                         |       |           | |           |
 |                                           |                         |       |           | |           |
 |                                           |                         |       |           | |           |
 |                                           |                         |       |           | |           |
 |                                           |                         |       |           | |           |
 |                                           |                         |       |           | |           |
 |                                           |                         |       |           | |           |
 |PC20-36A SUMMARY RESULTS                   |                         |       |           | |           |
 |-------------------------------------------------------------------------------------------------------|
 |Section 400N, 300 az., -55 incl.           |                         |       |           | |           |
 |-------------------------------------------------------------------------------------------------------|
 |                      |                    |                         |       |           | |           |
 |-------------------------------------------------------------------------------------------------------|
 |                      |Thickness           |Au                       |Ag     |Be         | |EST.       |
 |                      |                    |                         |       |           | |TRUE       |
 |-------------------------------------------------------------------------------------------------------|
 |MAIN VEIN             |feet                |ppm                      |ppm    |ppm        | |THICKNESS  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-36A 60.1-65.3    |5.2                 |0.65                     |19.7   |11.9       | |4.7        |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-36A 65.3-68      |2.7                 |7.92                     |17.2   |80         | |2.4        |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-36A 68-71        |3                   |1.12                     |40.3   |214        | |2.7        |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-36A 71-74.5      |3.5                 |1.04                     |65     |500        | |3.2        |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-36A 74.5-78      |3.5                 |0.63                     |56.4   |315        | |3.2        |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-36A 78-81.5      |3.5                 |1.34                     |37.5   |352        | |3.2        |
 |-------------------------------------------------------------------------------------------------------|
 |                      |                    |                         |       |           | |           |
 |-------------------------------------------------------------------------------------------------------|
 |TOTALS 60.1-81.5      |21.40               |1.81                     |38.59  |233.85     | |19.4       |
 |-------------------------------------------------------------------------------------------------------|
 |                      |                    |                         |       |           | |           |
 |                      |                    |                         |       |           | |           |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-34A SUMMARY RESULTS                                         |       |       |            |  |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |Section 300N, 300 az., -55 incl.                                 |       |       |            |  |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |                                    |                    |       |       |       |EST.        |  |  |  |
 |                                    |                    |       |       |       |TRUE        |  |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |                                    |Thickness           |Au     |Ag     |Be     |THICKNESS   |  |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |MAIN VEIN                           |feet                |ppm    |ppm    |ppm    |feet        |  |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-34A 35-42                      |7                   |3.16   |117    |75.0   |6.3         |  |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-34A 42-44                      |2                   |1.5    |25.3   |12.9   |1.8         |  |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-34A 44-47                      |3                   |0.06   |42.4   |9.5    |2.7         |  |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-34A 47-51.3                    |4.3                 |0.05   |27.8   |7.7    |3.9         |  |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-34A 51.3-56.2                  |4.9                 |0.75   |29.8   |72.3   |4.4         |  |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-34A 56.2-60.5                  |4.3                 |0.74   |21.4   |35.6   |3.9         |  |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |PC20-34A 60.5-62.3                  |1.8                 |1.5    |85.7   |24.9   |1.6         |  |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |                                    |                    |       |       |       |            |  |  |  |
 |-------------------------------------------------------------------------------------------------------|
 |Total 35-62.5                       |27.30               |1.28   |55.3   |42.7   |24.7        |  |  |  |
 ---------------------------------------------------------------------------------------------------------

QA/QC Program for the 2019 Exploration Work

All assaying was conducted by ALS Global, an independent analytical laboratory. Core boxes were delivered to the ALS sample preparation facility in Tucson, Arizona, where the core is catalogued, photographed, sawed, and crushed and pulverized. Pulverized splits are sent to the ALS analytical facility in Vancouver, British Columbia for analyses. All material handling is done under a strict chain of custody protocol. Gold is determined by fire assay with an AA finish and silver and beryllium are determined by ICP-MS methods within a 31-element suite.

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 ALS’s preparation facility in Tucson, Arizona, in addition to the independent QA/QC protocols of ALS Global.

Qualified Person

Gregory Hahn, VP-Exploration and a Certified Professional Geologist (#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 Silver Exploration Inc.

Arizona Silver is a young exploration company focused on exploring underexplored gold-silver properties in western Arizona and now Nevada. The Company plans to continue to drill test the Ramsey Silver Mine property located a short distance east of Quartzsite, Arizona. The Company has recently received a positive Record of Decision on its Notice of Intent to drill an initial eight exploration holes on its recently acquired Silverton gold-silver property with carlin-type targets.

Please refer to our web site for all news and updated property information.

www.arizonasilverexploration.com

On behalf of the Board of Directors:

ARIZONA SILVER EXPLORATION 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 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 2020 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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