Decision Memo Received from US Forest Service Regarding Initial Exploration Drilling at Sycamore Canyon Project, Arizona

Decision Memo

A positive Decision Memo, with stipulations and required mitigation measures, was received in response to the initial Plan of Operations submitted in May 2018 to proceed with initial exploration drilling of the Sycamore Canyon gold-silver project in Cochise County, Arizona. An initial Plan of Operations was submitted in May 2018 and finalized in November 2018. Public comment was sought in late 2018 and early 2019, but the COVID pandemic and administrative issues caused the permitting of the project to be delayed until respective parties could be available to make their contributions to the NEPA (National Environmental Policy Act) permitting process.

Mitigation measures include:

• no activity during the golden eagle breeding season (January through July), or non-breeding or non-occupancy within one mile of the drill site must be confirmed,

• Avoid removal or damage to agave and yucca plants during road and pad construction and use, and salvage and re-planting of any disturbed plants,

• reclamation immediately upon completion of the proposed drilling activity, among others.

The Company will engage an environmental consulting firm to incorporate these mitigation measures into a final Plan of Operations and a reclamation cost estimate for final submission to the US Forest Service for their consideration in issuing a final Record of Decision.

Meanwhile the Company will entertain joint venture proposals to advance the Sycamore Canyon project through this initial drilling program and beyond. Since submitting the initial Plan of Operations in 2018 the Company has made what it believes is a significant mineral discovery at its Philadelphia project in Mohave County, Arizona, and is electing to focus its resources on advancing the exploration drilling of that project.

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. https://arizonasilverexploration.com/sycamore/

About Arizona Silver Exploration Inc.

Arizona Silver is a young exploration company focused on exploring gold-silver properties in western Arizona and Nevada. The flagship asset is the Philadelphia property. In addition to the Philadelphia project, the Company recently received a positive Record of Decision on its Notice of Intent to drill an initial twelve exploration holes for Carlin-type targets on its recently acquired Silverton gold-silver property. Drilling there will be scheduled as time and equipment allow.

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 2022 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 2022 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 2022 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.