Mining Company Advances High-Grade Philadelphia Discovery in Arizona

1. As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Arizona Gold & Silver Inc.
2. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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1. Disclosure for the quote from the John Newell article published on March 16, 2026

1. For the quoted article (published on March 16, 2026), the Arizona Gold and Silver has paid Street Smart, an affiliate of Streetwise Reports, US$2,500.
2. Author Certification and Compensation: [John Newell of John Newell and Associates] was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a  U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

John Newell Disclaimer

As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it's advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.

2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Arizona Gold & Silver Inc. (AZS:TSX; AZASF:OTC) announced it has entered into a binding agreement with arm’s length institutional investors Sorbie Bornholm LP and Sorbie Investments LLP for CA$18 million dollars, according to a March 18 release.

The agreement, dated March 9, is subject to final approval from the TSX Venture Exchange, and no new control position will be created. This is the largest investment of Sorbie to date, Arizona Gold & Silver noted in the release.

The investment is structured through a placement of 22.5 million units at a price of CA$0.80 per unit, each unit consisting of one common share and one-half share purchase warrant, with full warrants priced at CA$1. This arrangement represents an approximate 18% premium to the five-day VWAP. A portion of the shares from this placement will be allocated to a sharing agreement, enabling the company to benefit from additional non-dilutive financial gains as certain milestones are achieved.

The funds from this investment will be directed towards advancing exploration and development activities at the company’s flagship Philadelphia Gold-Silver Project in Arizona. This project, located near the historic Oatman Mining District, is known for its substantial gold production from high-grade epithermal vein systems. Under the leadership of Senior Vice President of Exploration Dr. Lex Lambeck, AZS plans to expand drilling programs across promising vein and stockwork systems and continue making significant technical and operational advancements in one of Arizona’s most historically productive precious metals districts.

"I’m extremely pleased to be working with Sorbie and their dedicated team," Chief Executive Officer Mike Stark said. "This long-term capital commitment will ensure and support our drilling programs well into 2027, with multiple rigs operating on our flagship Philadelphia property."

Stark also noted the transaction's completion above market value as a strong indicator of confidence in the potential of the project and the capabilities of the team.

Whitney Kofford, managing director of Sorbie Bornholm LP, noted, "Sorbie is proud to announce our largest investment to date, and we are thrilled to partner with Arizona Gold & Silver." Kofford praised the company’s strategic vision and expressed confidence in the project’s location within a premier global mining jurisdiction and a historic high-grade district, anticipating that Arizona Gold & Silver’s systematic exploration strategy will unlock significant long-term value.

The company currently has CA$4.4 million in cash reserves and CA$16.8 million in warrants and options. Stark said that company management continues to buy shares on the open market, and none of them have sold their shares. Specifically, the warrants break down as follows: 5,081,979 warrants at 45 cents expiring on April 3, 222,500 warrants at 45 cents expiring on November 30, 15,325,090 warrants at 40 cents expiring on October 3, 1,628,500 warrants at 48 cents expiring on December 16, and 6,693,083 warrants at 40 cents, expiring on September 11, 2028.

Results From the Philadelphia Project

On February 25, the company released assay results from two recent core drillings at tis Philadelphia project in Arizona. These drillings, conducted at the northern and southern boundaries of the Perry zone, encountered low gold grades in previously unrecognized east-west faults, which have caused vertical offsets in the mineralization within the primary Arabian Fault structure.

The drilling operation is ongoing, with the current focus on the shallower parts of the Perry zone, directly up-dip from hole PC25-156. Significant findings from the drillings include 28.41 meters at 0.68 grams per tonne (g/t) gold and 6.04 g/t silver from 318.61 meters downhole in hole PC25-159, with notable segments yielding higher grades of gold and silver. Hole PC25-160 reported 66.39 meters at 0.293 g/t gold and 1.364 g/t silver from 327.66 meters downhole, with specific intervals showing enhanced gold and silver concentrations.

The Perry zone is now delineated as approximately 165 meters in strike length, though it is truncated by sub east-west structural complexities that intersect the Arabian fault, the primary host for all known mineralization at the site, the company said. It appears that PC25-159 was drilled structurally above the main mineralizing system, and the exact depth to the productive zone remains undetermined. A similar structurally lower block is suggested to the south in hole PC26-160, which is also interpreted to have been drilled above the main mineralizing system.

Lembeck, commenting on the unexpected encounter with bounding faults that have defined the Perry zone's strike length, noted that drilling is continuing as the zone is not fully delineated up-dip and remains entirely open at depth. The company anticipates encountering favorable grades in both directions and is awaiting a drill permit to establish new drill pads to the east, which are expected to be granted within months. These new pads are intended to facilitate cost-effective drilling of the target zone at greater depths, with the geological model suggesting that the grades will persist in that direction.

Analyst: Stock Has Made Significant Progress

¹The Arizona mining districts have long been a prolific source of gold, producing millions of ounces over the past century, according to a review of the stock for Streetwise Reports on March 16 by Technical Analyst John Newell of John Newell & Associates.

Continuing this legacy, Arizona Gold & Silver is actively exploring and demonstrating that significant discovery potential still exists in the region, Thomson said. The company is focused on uncovering high-grade gold and silver deposits within the mining-friendly jurisdictions of Arizona and Nevada.

Arizona Gold & Silver's primary venture, the Philadelphia Gold-Silver Project, is strategically positioned in the historic Oatman Mining District, he noted. This district has historically yielded over 2.5 million ounces (Moz) of gold from adjacent mining operations. The company is committed to systematically drilling and expanding the epithermal gold-silver system at this site while also progressing other exploration targets within its extensive portfolio.

For 2026, Arizona Gold & Silver has laid out an aggressive exploration agenda aimed at potentially uncovering a district-scale discovery. This initiative is backed by promising drill results and an expanding land position that underscore the project's potential, Newell wrote.

The project benefits from excellent infrastructure, which includes easy road access and the advantage of year-round drilling, he said. Beyond the Philadelphia project, Arizona Gold & Silver also holds exploration projects in Nevada and Arizona, such as the Silverton Gold-Antimony Project in Nevada, which features a Carlin-style gold system and notable antimony mineralization.

"Importantly, Arizona Gold & Silver enters this year from its strongest financial position to date, with over CA$4.5 million currently in treasury and up to CA$16.8 million in potential funding from in-the-money options and warrants over the next two years, giving the company the financial capacity to aggressively advance exploration at the Philadelphia Project," he said.

The stock has made significant progress in its technical development, achieving several milestones that have propelled its shares into a new market trend, the analyst said. After years of building a solid base, the company's shares broke out from a long-term consolidation pattern, initiating a robust upward trajectory. This breakout transitioned the stock from an extended accumulation phase to a dynamic trending market, with the share price climbing through successive targets, first surpassing CA$0.65, then CA$0.80, and reaching near CA$0.95.

This sharp rise was followed by a parabolic advance, pushing the shares towards their historical highs. Such rapid movements often lead to corrections, and recently, the stock has retraced to the CA$0.60 to CA$0.65 range, aligning with prior breakout levels and key technical indicators like moving averages and Fibonacci retracement zones. This pullback may offer a new entry point for investors who missed the initial surge, setting the stage for potential future gains.

Looking ahead, if Arizona Gold & Silver maintains strong exploration outcomes and the precious metals sector remains favorable, the stock could potentially target a long-term price of CA$1.90, reflecting historical resistance levels. However, as with all exploration stocks, there remains a speculative element to consider.

"With a large exploration program planned for 2026, expanded drilling permits in progress, and strong early drill results, the company is positioned to continue testing the scale of the system," he wrote. "At the current share price of approximately CA$0.65 cents, Arizona Gold & Silver shares appear to offer significant leverage to further exploration success and continued strength in the precious metals sector. For that reason, the shares are considered a Speculative Buy at the current price of CA$0.65."

The Catalyst: Selling Pressure on the Precious Metals

According to a March 20 report by Chloe Taylor for CNBC, gold prices saw a modest recovery on Friday, while silver continued to decline after both metals experienced significant selling pressure in the previous session. As of 6:17 a.m. ET, spot gold had risen by 0.3% to US$4,662.51 an ounce, after initially showing larger gains earlier in the day. Concurrently, gold futures increased by 1.2% to US$4,662.10. In contrast, spot silver dropped by 1.7% to US$71.62 an ounce, fluctuating between gains and losses throughout the morning, whereas silver futures rose by approximately 0.8%.

Both gold and silver are poised to close the week with losses, with gold potentially facing a near 9% decrease and silver looking at a reduction of over 10%, Taylor wrote. This downturn followed Thursday's broad market sell-off, where spot prices for both metals fell around 3%, with deeper losses earlier in the day, amid escalating concerns about the economic impact of the ongoing war in Iran.

The volatility in the oil market, stirred by the conflict between the U.S. and Israel with Iran, continues to sway global investor sentiment. On Friday, oil prices were on the rise after experiencing earlier declines. Meanwhile, global equity markets showed mixed results; European stocks were directionless, Asian shares mostly declined, and U.S. futures indicated a negative start on Wall Street, despite earlier signs of a potential rebound from Thursday’s losses.

Arthur Parish, a metals and mining equity analyst at SP Angel, commented on CNBC's "Squawk Box Europe" about the recent extreme volatility in gold, noting that it followed a prolonged rally leading up to the initial U.S.-Israel strikes on Iran. He observed, "That's pretty much unwound completely and actually moved quite a lot lower," attributing the downturn to momentum trades unraveling.

Both gold and silver had experienced significant rallies in 2025, with gold surging 66% and silver an impressive 135% over the year, the article noted. However, 2026 has brought much more unstable trading conditions for these metals, with silver futures enduring their most severe single-day loss since the 1980s at the end of January.

Mya Copeland, writing for Fast Company on March 19, said at the time of writing, gold prices were experiencing their longest streak of consecutive losses since 2024, according to Bloomberg. Remarkably, this downturn followed recent record highs, with gold reaching its peak just two weeks ago and silver hitting its highest price in February. Typically, gold and silver prices are closely linked, often rising and falling together. However, the recent decline in their prices appears to be out of sync with the usual market reactions to global conflicts.

Historically, gold and silver are considered safe-haven assets and tend to appreciate during times of geopolitical tension, Copeland said. For instance, gold prices soared to a one-year high in 2022 following Russia's invasion of Ukraine, and earlier this year, global tensions were credited for driving prices to record levels. Despite these precedents, the current market dynamics are showing an unusual pattern. While crude oil prices have surged over 40% this year due to the ongoing war in Iran, gold and silver prices have unexpectedly fallen.

This divergence is partly explained by the negative correlation that has emerged: as oil prices increase, gold and silver prices are decreasing. With oil absorbing much of the safe-haven demand, gold and silver seem to be left on the sidelines. Additionally, the strength of the U.S. dollar, which typically moves inversely to gold and silver prices, is exerting further pressure on these metals. The dollar's rise, fueled by high oil prices and inflation, is contributing to the downward trend in precious metal prices.

According to Copeland, the current market scenario suggests that factors such as inflation and a robust U.S. dollar are overshadowing the usual geopolitical drivers of gold and silver prices.

Ownership and Share Structure²

Arizona Gold & Silver provided a breakdown of its ownership and share structure, where insiders and advisors own approximately 23% of the company, 6.9% is held by institutions, Eric Sprott holds 6.3%, and 41% is with family and friend investors. The rest is retail. 

Top shareholders include Brady Stiles with 11.8%, SSE Asset Management AG with 4.53%, and Gregory A. Hahn with 4.05%.

There are 110.23 million shares outstanding, while the company has a market cap of CA$66.17 million and trades in the 52-week period between CA$0.26 and CA$1.23.