Arizona Silver Exploration Inc. announced a non-brokered private placement of up to 8 million units at a price of CAD 0.25 per unit for gross proceeds of up to CAD 2,000,000 on October 11, 2022. Each unit will consist of one common share and one-half of a common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of the company at a price of CAD 0.40 for five years following closing of the transaction provided, at the discretion of the company, in the event that the closing price of the company's common shares on the TSX Venture Exchange is CAD 0.48 or greater per common share.

Certain insiders of the company will participate in the transaction. The completion of the transaction remains subject to the approval of the Exchange. All securities issued pursuant to the offering will be subject to a statutory four month hold period.

The company may pay finder's fees in accordance with the rules and policies of the Exchange.