Arizona Gold Announces Senior Management Appointment & Management Changes

TORONTO, March 29, 2021 (GLOBE NEWSWIRE) -- Arizona Gold Corp. (TSX: AZG, OTCQB: AGAUF) (“Arizona Gold” or the “Company”) is very pleased to announce that Mr. John C. Galassini has joined the Company as Executive Vice President, Chief Operating Officer.

Mr. Galassini will direct all efforts associated with the current restart of operations at the Copperstone Gold mine. Mr. Galassini is a mining professional with a wealth of experience spanning over 30 years while possessing considerable knowledge in all aspects of mine construction and operations. Mr. Galassini’s track record of delivering production efficiencies and business excellence will prove of great value and benefit as we advance the Copperstone gold mine back into production. Mr. Galassini has extensive experience bringing both greenfield and brownfield mines into production, and has expertise in both open-pit and underground mining. Mr. Galassini has successfully managed processing facilities in a multitude of commodities.

Mr. Galassini’s previous senior roles include Vice President, Ciner Resources; Senior Vice President Mining, Nyrstar Metals; Chief Operating Officer Sunshine Silver Mines; Regional Vice President, North America Kinross Gold; Senior Vice President, Americas Freeport-McMoRan; Various senior roles with Phelps Dodge Mining from General Manager, Morenci to President Bagdad and Candelaria and Senior Vice President North American Operations. Mr. Galassini holds a BS in Chemical Engineering from New Mexico State University.

Giulio T. Bonifacio, President and Chief Executive Officer of Arizona Gold, stated: “We are extremely fortunate to bring on board someone of John’s calibre and experience as we advance to production at the Copperstone gold mine. John’s direct experience in all aspects of mining from construction to operations with a focus on execution and results will prove invaluable to the Company.”

Martin Kostuik has stepped down from his position as President of Arizona Gold to pursue other business opportunities. The company would like to extend its sincere thanks to Mr. Kostuik for his contributions over the past four years and wishes him well in his future business endeavours.

Mr. Giulio T. Bonifacio will assume the role of President in addition to his Chief Executive role which will further streamline the leadership team.

About Arizona Gold

Arizona Gold is an emerging American gold producer advancing the restart of production at its 100-per-cent-owned, fully permitted, past-producing Copperstone mine project, located in mining-friendly Arizona. The Copperstone mine project demonstrates significant upside exploration potential that has yet to be drilled within a 50 square-kilometre (12,258 acres) land package that includes past production of over 500,000 ounces of gold by way of an open-pit operation.

The company's current focus is on maximizing Copperstone's potential by defining and expanding current resources and further optimizing the mine's economics for purposes of the restart of gold production in 2021 as a result of the recent project funding transaction entered into with Star Royalties Ltd.

For further information please visit the Arizona Gold Corp. website (www.arizona-gold.com).

For further information contact:

Giulio T. Bonifacio, President & Chief Executive Officer[email protected]

Cautionary Note Regarding Forward Looking Statements

This news release contains forward-looking information under Canadian securities legislation including statements regarding drill results, potential mineralization, potential expansion and upgrade of mineral resources and current expectations on future exploration and development plans. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to: the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; reliance on third parties, exploration risk, failure to upgrade resources, the degree to which mineral resource and reserve estimates are reflective of actual mineral resources and reserves; the degree to which factors which would make a mineral deposit commercially viable are present, and the risks and hazards associated with underground operations and other risks involved in the mineral exploration and development industry. Risks and uncertainties about Arizona Gold’s business are more fully discussed in the Company’s disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Arizona Gold assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law.