Vancouver, British Columbia–(Newsfile Corp. – January 19, 2017) – Arizona Silver Exploration Inc. (TSXV:AZS) (the “Company“) is advising that it has concluded the initial round of core drilling on the Ramsey Mine silver project located in La Paz County, Arizona, about 2 hours west of Phoenix. The Company drilled five exploration holes on patented claims peripheral to the old mine workings of the Ramsey Mine. Core from all five holes was picked up at the Company’s core storage unit in Quartzsite, Arizona by ALS Minerals personnel and delivered to the ALS Minerals laboratory in Tucson, Arizona, under strict chain of custody.

A total of 1,700 feet of core in two fences of holes were drilled in this Phase 1 drilling program. One fence of holes tested the southern end of the old Ramsey Mine workings which mined a high-grade silver vein from the surface down to the 529 (ft) Level, and the other fence of holes tested the northern end of the old Ramsey mined out area. Drilling from surface was intended to test the width of the low-grade envelope surrounding the high-grade vein. Only three holes tested the target. One hole intersected an undocumented working where the high-grade vein was anticipated, and drilling could not proceed beyond the working. Another hole encountered extremely broken rock in the vicinity of the target, where the drill rods became stuck and the drill string twisted off 100 feet above bottom, and the hole had to be abandoned in the target zone. All five holes penetrated 10-30 meters of alluvium before entering bedrock.

Drilling simultaneously tested the ground magnetic anomaly that is coincident with the old Ramsey Mine workings, in order to understand the source of the magnetic anomaly and to be able to better interpret the much larger (500-meter diameter) ground magnetic anomaly to the north. There is a distinct hydrothermal magnetite zone in the volcanic rocks above the silver target zone in all five holes, explaining the source of the magnetic anomaly and reinforcing the significance of the larger magnetic anomaly to the north. Magnetic pyrrhotite is also present in the volcanic rocks above the silver target zone.

The larger northern magnetic anomaly appears to be the faulted extension of the magnetic anomaly that is coincident with the Ramsey Mine area. It is located across an inferred fault and beneath an estimated 30-60 meters of alluvial cover. An IP (induced polarization) geophysical survey is being planned to measure the electrical properties of the Ramsey mine are and the larger northern magnetic anomaly. We are encouraged with the results of the programme and have gained further knowledge of the system. Please take a moment to view our web site with images of the core at www.arizonasilverexploration.com.

The Company is also pleased to announce that it has retained Venture Liquidity Providers Inc. (“VLP”) to initiate its Market Making Service to provide assistance in maintaining an orderly trading market for the Company’s common shares. The Market Making Service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Limited, in compliance with the guidelines of the TSX Venture Exchange.

VLP is a specialized consulting firm based in Toronto providing a variety of services focused on TSX Venture Exchange-listed issuers. In consideration for their services, the Company has agreed to pay VLP $5,000 per month for a period of 12 months, commencing immediately. The agreement may be terminated at any time by Canamex or VLP. Canamex and VLP act at arm’s length, and VLP has no present interest, directly or indirectly, in the Company or its securities.

The Company wishes to clarify that both the funds and the shares required for the market-making are provided by W.D. Latimer Co. Ltd. The fee paid by the Company to VLP is for services only.

Greg Hahn, President and COO and a Certified Professional Geologist (#7122) is the Qualified Person under NI43-101 responsible for preparing and reviewing the data contained in this press release.

ON BEHALF OF THE BOARD

ARIZONA SILVER EXPLORATION INC.

SIGNED: “Gre