Arizona Gold & Silver closes $18m financing with Sorbie Bornholm and Sorbie Investments

Vancouver, British Columbia – TheNewswire - June 1, 2026 – Arizona Gold & Silver Inc. (“Arizona” or the “Company”) (TSXV: AZS) (OTCQB: AZASF) is pleased to announce the closing of its previously announced financing with two arm’s length institutional investors, Sorbie Bornholm LP and Sorbie Investments LLP (together, the “Investors”) for aggregate proceeds of CDN$18,000,000 (the “Offering”) at a price of $0.80 per unit (“Unit”). Each Unit is comprised of one (1) common share and one-half (1/2) common share purchase warrant. Each full warrant is exercisable for a period of three (3) years.

A total of 11,250,000 warrants will be issued, with 5,625,000 warrants issued upon closing and exercisable at $1.00, and the remainder issued according to the monthly release schedule and priced at a 20% premium to the 20-day VWAP at the time of issuance. Pursuant to the terms and conditions of a Sharing Agreement (as defined and described below) and other supporting agreements between the parties, the proceeds have been structured as follows: The Investors have committed $18,000,000 , funded via cash or portfolios of UK government bonds deposited under an ISDA Credit Support Annex.   The Company will issue 22,500,000 Units upon closing, with shares and warrants delivered in accordance with certain settlement procedures. Specifically, the shares to be issued by the Company at closing will bear a legend that sets out scheduled monthly releases for the shares (shares while covered by such legends, the Restricted Shares ”), which releases will be based upon proof of cash being released to the Company in accordance with the Sharing Agreement.   The Restricted Shares will be subject to a voting trust agreement which provides that the Restricted Shares will not be entitled to voting rights in the Company until the restrictions that apply to them have been removed in accordance with the Sharing Agreement.   All securities issued under the initial tranche of the Offering will be subject to a hold period of four months and one day from the closing date   Over a 24-month period , the economic benefits of the proceeds will be realized through monthly settlements based on the Company’s market price.   Sorbie Bornholm LP will invest $10,000,000 for 12,500,000 Units , and Sorbie Investments LLP will invest $8,000,000 for 10,000,000 Units   The proceeds from the financing will be used for the purposes of advancing the Company’s Philadelphia and Silverton properties, and for general working capital.

Whitney Kofford, Managing Director, and Greg Kofford, Founder and CEO of Sorbie Bornholm, visited the Philadelphia Project on April 19, 2026 along with Arizona Gold & Silver President and CEO Mike Stark, Senior Vice President of Exploration Dr. Lex Lambeck, and Marc Stengel, Project Geologist. Mike Stark commented on the site visit: “Whitney and Greg joined our team for a site visit on April 19th and they were highly encouraged. We provided valuable perspective on the vast, largely unexplored scale of the Philadelphia property.