Arizona Silver Announces that it is proceeding with its Private Placement and Terminates an Agreement

VANCOUVER, Oct. 24, 2019 - Arizona Silver Exploration Inc. (the "Company" or “Arizona Silver”) (TSX-V: AZS) (OTCQB: AZASF) announces that, further to its news releases of September 17, 2019, it is proceeding with the previously announced proposed private placement of up to 3,684,210 units. The units are being offered at a price of $0.19 per unit, for gross proceeds of up to $700,000.

The Company also announces that the agreement with Cronus Consulting Corp. has been terminated on a mutually agreed basis.

Closing of the private placement is subject to a number of conditions, including receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

On behalf of the Board of Directors:

Arizona Silver Exploration Inc.

Mike Stark, President and CEO
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 2019 exploration program; 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.