Arizona Eagle Mining Corp. (TSXV: AZEM) to Raise up to C$3 Million to Fund Silver Projects

Arizona Eagle Mining Corp. (TSXV: AZEM) announced that it intends to complete a non-brokered private placement (the "Offering") of units of the Company (each, a "Unit") at a price of C$1.10 per Unit for aggregate gross proceeds to the Company of up to C$3,000,000. Each Unit will be comprised of one common share of the Company (each, a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant will entitle the holder thereof to acquire one Common Share (each, a "Warrant Share") at an exercise price of C$1.50 per Warrant Share for a period of 36 months from the closing date of the Offering.

The Company intends to use the net proceeds from the Offering: (i) to fund the pending acquisition of the Eagle Silver Project, comprising the Arizona National Mine, the Lookout Mine and the Silver Belt Mine (collectively, together with any additional silver-focused mineral properties that the Company may acquire from time to time in Yavapai County, Arizona, the "Silver Projects"), as previously announced by the Company on April 20, 2026; (ii) to fund an inaugural 3,500 meter drill program on the Silver Projects; and (iii) for general corporate and working capital purposes. The foregoing allocation of the net proceeds of the Offering represents the Company's current intentions based on present plans and business conditions and may be reallocated by management where sound business reasons make such reallocation prudent or necessary.

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

"This financing will provide Arizona Eagle with the capital to advance our silver strategy, including the acquisition of additional high-grade silver properties and the funding of an inaugural drill program targeting the Silver Projects. We are excited to expand our silver footprint and to systematically drill test these highly prospective targets as we continue to build out our project portfolio."

The Offering is being conducted on a private placement basis pursuant to available exemptions from the prospectus requirements under applicable Canadian securities laws. Units will be offered and sold: (i) to purchasers in each of the provinces and territories of Canada on a private placement basis; (ii) to purchasers in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act"); and (iii) to purchasers resident in jurisdictions outside of Canada and the United States, in each case in accordance with all applicable securities laws of such foreign jurisdiction, provided that no prospectus, registration statement or similar document is required to be filed in any such foreign jurisdiction.

The Common Shares, Warrants and Warrant Shares issued under the Offering will be subject to a hold period of four months and one day from the closing date of the Offering in accordance with applicable Canadian securities laws and the policies of the TSX Venture Exchange (the "TSXV").

The securities offered under the Offering have not been, and will not be, registered under the U.S. Securities Act or any state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons (as defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and applicable state securities laws, or an available exemption from such registration requirements.

The Offering is expected to close on or about June 4, 2026 (the "Closing Date"), or such other date or dates as the Company may determine. Completion of the Offering is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSXV.

About Arizona Eagle Mining Corp.

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 is 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.

The scientific and technical information contained in this news release has been reviewed and approved by Clyde Smith, PhD, Vice-President, Exploration of the Company, who is a Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

For Further Information

For further information on Arizona Eagle, please contact:

Kevin Reid
Chief Executive Officer and Director
Email: kreid@arizonaeaglemining.com
https://www.arizonaeaglemining.com/

Full news:
https://www.newsfilecorp.com/release/297383/Arizona-Eagle-Mining-Corp.-Announces-NonBrokered-Private-Placement-Financing-for-Gross-Proceeds-of-up-to-C3000000

Not for distribution to U.S. news wire services or for dissemination in the United States.