Arizona Silver Reports Results of Q4 2020 Drilling and New Drilling Program at Philadelphia Gold Silver Property in Mohave County, Arizona

Both RC holes tested the area of historical drilling on Section 100N. Hole PRC20-52 intersected a broad zone of gold-silver mineralization surrounding the high-grade vein that was mined historically as follow:

 --------------------------------------------- |                      |     |    |         | |-------------------------------------------| |PRC20-52 Assay Results|Au   |Ag  |Thickness| |                      |gpt  |gpt |ft.      | |-------------------------------------------| |                      |     |    |         | |-------------------------------------------| |PRC20-52 95-100       |0.25 |2.5 |5        | |-------------------------------------------| |PRC20-52 100-105      |1.77 |20.3|5        | |-------------------------------------------| |PRC20-52 105-110      |0.6  |17.2|5        | |-------------------------------------------| |PRC20-52 110-115      |0.53 |23.5|5        | |-------------------------------------------| |PRC20-52 115-120      |4.03 |40.1|5        | |-------------------------------------------| |PRC20-52 120-125      |0.61 |11.6|5        | |-------------------------------------------| |PRC20-52 125-130**    |MINED OUT |5        | |-------------------------------------------| |PRC20-52 130-135      |0.13 |8.1 |5        | |-------------------------------------------| |PRC20-52 135-140      |0.13 |16.1|5        | |-------------------------------------------| |PRC20-52 140-145      |0.21 |24.1|5        | |-------------------------------------------| |PRC20-52 145-150      |0.18 |13.4|5        | |-------------------------------------------| |                      |     |    |         | |-------------------------------------------| |Mineralized Interval  |0.844|17.7|55       | |-------------------------------------------| |** high grade mined   |     |    |         | |out                   |     |    |27.5 ft. | |True Thickness ft.    |     |    |         | ---------------------------------------------

Hole PRC20-50 drilled below the high-grade vein mine historically up-dip from hole PRC20-52 and hit only low-grade gold-silver values in the footwall of the vein. Hole PRC20-51 was abandoned at less than 100 feet depth due to caving of alluvium into the hole before mineralization was encountered.

Core hole PC20-21T was a twin of previously drilled RC hole PRC20-21 which encountered a 40 ft. thick interval of the hanging wall vein carrying gold and silver values, but which also encountered high water flows which our geologists felt compromised sample collection. The core hole twin intersected the same 40 ft. interval but with about 50% higher gold values and over 240% higher silver values than encountered in the RC drill hole as shown below:

Assays for Vein Intercept PRC20-21 vs. PC20-21T(core twin)

 ------------------------------------------------------------------------------------------------- |RC Hole           |Au   |Ag  |Thickness|Core Hole            |Au  |Ag  |Thickness|Delta|Delta | |                  |gpt  |gpt |ft.      |                     |ppm |ppm |ft.      |Au   |Ag    | |-----------------------------------------------------------------------------------------------| |PRC20-21 130-135  |0.745|1.2 |5        |PC20-21T 137.7-140.2 |0.53|4.9 |2.5      |     |      | |-----------------------------------------------------------------------------------------------| |PRC20-21 135-140  |3.103|16.2|5        |PC20-21T 140.2-143.3 |4.41|6.9 |3.1      |     |      | |-----------------------------------------------------------------------------------------------| |PRC20-21 140-145  |0.415|2.2 |5        |PC20-21T 143.3-147.7 |1.06|8.3 |4.4      |     |      | |-----------------------------------------------------------------------------------------------| |PRC20-21 145-150  |0.693|3.6 |5        |PC20-21T 147.7-149.55|2.76|6.7 |1.85     |     |      | |-----------------------------------------------------------------------------------------------| |PRC20-21 150-155  |0.797|2.6 |5        |PC20-21T 149.55-153.0|0.37|4.4 |3.45     |     |      | |-----------------------------------------------------------------------------------------------| |PRC20-21 155-160  |0.243|2.2 |5        |PC20-21T 153.0-156.5 |0.18|3.3 |3.5      |     |      | |-----------------------------------------------------------------------------------------------| |PRC20-21 160-165  |0.15 |1.2 |5        |PC20-21T 156.5-158.1 |0.17|1.6 |1.6      |     |      | |-----------------------------------------------------------------------------------------------| |PRC20-21 165-170  |0.283|10  |5        |PC20-21T 158.1-160.6 |0.07|2.8 |2.5      |     |      | |-----------------------------------------------------------------------------------------------| |PRC20-21 170-175  |0.169|1.2 |5        |PC20-21T 160.6-163.3 |0.09|3.8 |2.7      |     |      | |-----------------------------------------------------------------------------------------------| |                  |     |    |         |PC20-21T 163.3-167.5|0.27 |18  |4.2      |     |      | |-----------------------------------------------------------------------------------------------| |                  |     |    |         |PC20-21T 167.5-172.5|2.6  |34.6|5        |     |      | |-----------------------------------------------------------------------------------------------| |                  |     |    |         |PC20-21T 172.5-177.8|0.75 |11.8|5.3      |     |      | |-----------------------------------------------------------------------------------------------| |                  |     |    |         |                    |     |    |         |     |      | |-----------------------------------------------------------------------------------------------| |Total 130-175 feet|0.733|4.5 |45       |Total               |1.134|11.0|40.1     |54.7%|244.6%| |                  |     |    |         |137.7-177.8          |     |   |         |     |      | |                  |     |    |         |feet                 |     |   |         |     |      | |-----------------------------------------------------------------------------------------------| |True Thickness    |     |    |22.5     |                     |    |    |20.1     |     |      | |Estimate at 50%   |     |    |         |                     |     |   |         |     |      | -------------------------------------------------------------------------------------------------

The above results argue for core drilling over RC drilling in known mineralized areas. RC drilling will continue to be used for cost-effective exploration in previously undrilled areas.

RC/core holes PC-20-40A/B, PC20-42A/B, PC20-43A/B, PC20-44A/B were all drilled to intersect the down-dip projection of the high-grade mineralization encountered in previous core drilling on the property. These four holes failed to intersect any vein mineralization. Hole PC20-45A/B intersected 1.9 ft. of brecciated vein mineralization carrying 0.49 gpt Au and 15.5 gpt Ag before crossing a fault and continuing into footwall andesite. We interpret these results to indicate the vein has been faulted off at depth, and we are currently evaluating where the offset portion of the high-grade vein lies. Evidence collected to date suggest the fault is possibly a reverse fault and the continuation of the vein lies to the west beneath the cliffs of silicified and veined rhyolite and granite that has not yet been tested by drilling. Hole -46, -47, -48, and -49 were not drilled.

Arizona Silver's Vice President - Exploration, Greg Hahn, commented, "We continue to believe we are on the trail of the continuation of the high-grade vein, even though we were interrupted by a fault going down dip. The vein remains open along strike of the high-grade intercept in hole PC20-39A which intersected 10.76 metres (35.3 ft.) containing 9.26 gpt Au, 79.8 gpt Ag, and 344 gpt Be beginning at a depth of 27.96 metres (91.7 ft.) on section 400N, and which we intend to pursue in the next round of drilling on sections 500N thru 800N. We will also test the silicified and veined exposures to the west of our previous drilling to see if we can intersect the faulted extension of the down-dip continuation of the main vein. The significantly higher gold grades in core hole -21T then were intersected in RC hole -20 indicate we have to drill core where we encounter high groundwater flows that hamper good sampling protocols with RC drilling methods."

QA/QC Program

All assaying was conducted by ALS Global, an independent analytical laboratory. Core boxes and RC cuttings 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.

UAV Aerial Photogrammetry and Topographic Mapping

The Company has completed a detailed photogrammetric aerial survey and topographic mapping to provide a detailed base map over the portion of the property currently being drilled with which to plan further drilling programs and engineering for exploration road access.

Drilling Q1 2021

The Company has signed a new core drilling contract for delivery of a core drill to the property beginning in mid-February for a minimum of 4000 feet of core drilling in at least 12 holes to further test the strike extension of the high-grade vein which remains open to the north and to test for the faulted down-dip extension of the high-grade vein to the west.

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 as time allows. 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. Drilling there will be scheduled as time and equipment allow.

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 2020-2021 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 2020-2021 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 2020-2021 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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