Gold Discovery Hits Phase 1 Drilling - Arizona Eagle Mining (TSXV: AZEM) Expands McCabe

The stock is trading up this morning, currently at $1.40 as gold prices rise and the company issues drill results.

Arizona Eagle is a mineral exploration company focused on the acquisition, exploration, and development of mineral properties. Arizona Eagle's principal asset is the Eagle Project, a 4,169-acre property comprised of patented and unpatented claims located near the town of Prescott Valley in Yavapai County, Arizona. The Eagle Project is centered on the past-producing McCabe Mine, a high-grade gold-silver deposit, and includes multiple parallel structures hosting past-producing mines that remain largely untested by modern drilling. While Arizona Eagle's primary focus will be on the exploration and development of the Eagle Project, it will continue to own Core Nickel's land portfolio in the Thompson Nickel Belt of northern Manitoba.

Arizona Eagle announced initial results from the first three holes of its fully funded Phase 1 drill program (the "Phase 1 Drill Program") on the highly prospective Eagle Project, located in the historic and prolific McCabe gold-silver district in Arizona. The Phase 1 Drill Program's objective is to target multiple northeasterly-striking, steeply dipping sulfide-bearing quartz veins that may extend beyond the Historic Resource of approximately 880,000 ounces of gold at 11.7 g/t at McCabe (the "Historic Resource"). These initial drill holes targeted the potential to the northeast outside of the Historic Resource and have successfully confirmed the presence of significant, high-grade mineralization that remains open for expansion, extending the mineralized strike by about 50 meters beyond the approximate 750-meter strike of the Historic Resource.

Kevin Reid, Chief Executive Officer of Arizona Eagle, commented:

"These initial results are an excellent start to the Phase 1 drill program, validating our belief that significant high-grade gold and silver mineralization remains open beyond the historic resource. With the system open along strike and our drilling now stepping out toward our previously announced, soon-to-be-acquired Eagle Silver Project, we are excited about the district-scale potential we are unlocking. Our second hole successfully tested the northeast extension beyond an interpreted fault offset where historic mining and underground exploration stopped. This shows the potential to continue to expand the historic resource toward the northeast."

"As the Phase 1 drill program is actively underway, the company looks forward to sharing additional results as they become available. This is an exciting time for the company and its shareholders as we work to unlock the full potential of this promising gold-silver project in one of Arizona's most prolific historic districts."

Highlights from the first three drill holes:

• Eagle 26-01 (angled hole drilled to 536 meters) intersected four separate sulfide-bearing quartz veins between 355.7 and 447.6 meters in a previously unmined area. These veins reached up to 1.5 meters in width and returned assays as high as 5.09 g/t Au and 16.35 g/t Ag, demonstrating that substantial gold and silver mineralization still exists within and around the historic workings. Arizona Eagle is planning future drill holes to test for extensions of mineralization beyond the historic mining in this area.
• Eagle 26-02 (angled hole drilled to 468 meters) successfully tested the northeast extension beyond an interpreted fault offset where historic mining stopped. This hole intersected a robust 4.2-meter-wide sulfide-rich quartz vein (pyrite, chalcopyrite, sphalerite, and arsenopyrite) assaying 5.73 g/t Au and 5.90 g/t Ag, including a higher-grade section of 0.8 meters at 11.35 g/t Au and 11.15 g/t Ag.
• Eagle 26-02A (a short branch hole) extended the zone an additional 10 meters to the northeast, intersecting a 1.7-meter-wide sulfide-bearing quartz vein that returned 1.16 g/t Au and 7.35 g/t Ag.

These positive intercepts are very encouraging as they confirm that the McCabe gold-silver zone continues well beyond the historic mining limit and remains open to the northeast, presenting excellent potential for further expansion. Holes 3, 4, 5, and 6 were drilled to test the northeast extension toward the Eagle Silver Project, located approximately one kilometer to the northeast on the same structural corridor. Assays for these holes are pending. Hole 7, approximately 400 meters southwest of the McCabe Historic Resource, is designed to test extensions along strike to the southwest.

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