Arizona Mining Closes C$110 Million Private Placement With South32

Arizona Mining Corp.

VANCOUVER, BC--(Marketwired - May 16, 2017) - Arizona Mining Inc. (TSX: AZ) ("Arizona Mining" or the "Company") is pleased to announce it has closed the private placement with South32 International Investment Holdings Pty Ltd ("South32"), an affiliate of South32 Limited, for 45 million common shares in the Company (the "Shares") at a price of C$2.45 per Share for gross proceeds of C$110.3 million (the "Placement").