Arizona Eagle Mining Corp. Announces Sampling Results on Recently Acquired Silver Mine Claims

Arizona Eagle Mining Corp. (TSXV: AZEM) (OTCQB: AZEMF) (the "Company" or "Arizona Eagle") is pleased to announce results of a recent surface sampling program designed to test the strike length of three past-producing silver mines (the "Eagle Silver Zone"), recently acquired by Arizona Eagle, which are located approximately one kilometre northeast of the past-producing McCabe Mine, which has a historical estimate of approximately 880,000 ounces of gold at 11.7 grams per tonne ("g/t") gold and 5 million ounces of silver at 69 g/t silver (the "Historical Estimate"). Highlighted silver sample grades include 467 g/t, 455 g/t, 340 g/t, 271 g/t, 182 g/t, 172 g/t, and 136 g/t. These samples are located in an area covering approximately 500 metres of strike between the past-producing Arizona National and Silver Belt mines, which reached maximum depths of only approximately 150 metres (near the oxide-sulphide transition zone) before ceasing production in 1931. The Company is not aware of any exploration work having been conducted on the Eagle Silver Zone property since closure. Surface sampling was also conducted approximately 500 metres southwest of the McCabe Mine to test surface mineralization observed near the shafts of the past-producing Little Kicker and California mines (the "Esmeralda Gold Zone"). Highlighted outcrop gold grades included 8.5 g/t, 2.5 g/t, and 1.1 g/t. Complete results for all samples collected in the Eagle Silver Zone and the Esmeralda Gold Zone are set out in Table 1 below. These sample results demonstrate the potential for mineralization in veins parallel to the past-producing Silver Belt and Arizona National mines, and the possibility to extend the mineralization both to the northeast and southwest of the historical workings. Kevin Reid, Chief Executive Officer of Arizona Eagle, commented: "In August of this year, Arizona Eagle completed the strategic acquisition of three past-producing high-grade silver mines, consolidating the Eagle Silver Project located within close proximity of the gold and silver McCabe Mine. These mines served as major sources of silver production in Arizona until the 1930s and have been privately held and dormant for almost 100 years. Mining operations at that time were limited to relatively shallow oxidized depths, with the deepest shaft reaching only 150 metres, allowing for the opportunity for further discoveries at depth. Surface sampling announced today on the Eagle Silver Zone has returned silver grades of up to 467 g/t in a zone of mineralization parallel to the past-producing Silver Belt and Arizona National mines, demonstrating the potential for the discovery of new mineralized veins on these properties, as well as extension of historic mineralization. "Applying the same strategy we are employing at the McCabe gold-silver deposit, there is the opportunity to revive these mines through the application of modern exploration methods and systematic drilling, with exploration potential in one of Arizona's most prolific historic gold-silver districts. We are now compiling these sample results with the Phase 1 drill program results and have also commissioned a detailed SkyTem airborne geophysical survey, expected to begin this quarter." Mineralization within the Eagle Silver Zone appears to be preferentially hosted along steeply dipping shear zones cutting volcanic and volcaniclastic rocks. Shearing is expressed by strong schistosity, clay-sericite alteration, quartz veining, and friable and brecciated rock. Mineralized samples from the Eagle Silver Zone are characterized by dense, dark-grey to black oxide minerals interpreted to represent oxidation products of zinc- and lead-bearing sulphides, accompanied by abundant red-orange iron oxides and minor pyrite. Mineralization is hosted primarily within strongly clay- and sericite-altered schist, forming as massive...