See the project's (explained) large exploration potential Arizona Eagle, now Arizona Eagle Mining (CNCOD), previously Core Nickel, holds a 100% interest in the Eagle Project located in Yavapai County, Arizona. The Project is anchored by the past-producing 300-acre gold and silver McCabe Mine, with a historic estimate of approximately 878,000 ounces of gold and 5 million ounces of silver.
Since then, the property has been significantly expanded and should have a greatly increased gold and silver content, as well as copper potential in the southern portion of the property. A modern NI 43-101 standard will be produced after the planned drilling is completed.
Over the past two years, Arizona Eagle has expanded its land position to nearly 4,500 acres through staking and acquisitions surrounding the McCabe Mine. During this time, the Company completed exploration programs focused on geological mapping, surface sampling, helicopter-borne VTEM surveys, and ground-based induced polarization surveys that identified multiple parallel mineralized structures not historically drill tested
Phase 1 Drill Program
McCabe had not been drilled below a depth of 315 meters (1,035 feet).
In the first quarter of 2026, the Company initiated a fully-funded Phase 1 drill program totaling approximately 4,500 meters. The drill program was designed to confirm the historic resource estimate in addition to potentially expanding it. The drill program is expected to conclude in June 2026. Core samples from the initial drill holes have been submitted for laboratory analysis, with assay results currently pending. A second core drill rig is scheduled to mobilize to the Eagle Project in July 2026 for further drilling
Share Capital
As of the commencement of trading, Arizona Eagle has 49,006,929 common shares issued and outstanding. The Company also has 4,698,069 warrants and 2,637,647 stock options outstanding, for a total of 56,342,645 common shares on a fully diluted basis. Approximately 25.9 million common shares held by principals and management are subject to escrow, representing approximately 53% of the issued and outstanding common shares on an undiluted basis.
Arizona Eagle's principal asset is the Eagle Project, a 4,533-acre property comprised of patented and unpatented claims located near the town of Prescott Valley in Yavapai County, Arizona, which it holds through its wholly-owned subsidiary, AZ Desert Land Holdings Corp. The Eagle Project is centered on the past-producing McCabe Mine, a high-grade gold-silver-copper deposit, and includes multiple parallel structures hosting past-producing mines that remain largely untested by modern drilling. While Arizona Eagle's primary focus will be on exploration and development of the Eagle Project, it will continue to own Core Nickel's land portfolio in the Thompson Nickel Belt of northern Manitoba.
In the southwestern portion of the Eagle Property, gold mineralization was sampled in a number of quartz veins. Select results in this area include 92 g/t gold, 23.6 g/t gold, 11.2 g/t, 8.6 g/t gold, 6.6 g/t gold, and 6.2 g/t gold
In the southern portion of the Eagle Property, copper mineralization is hosted within apparent stratiform zones and veins. Copper oxide veinlets with silicified alteration are abundant and occur with chalcopyrite and pyrite in quartz veins. There are many workings and pits in this area.
Select results in this area included 27.6% copper, 4.5% copper, 3.8% copper, and 3.0% copper. High-grade gold and silver were also encountered in this area, including 29.4 g/t gold, 653 g/t silver, and 450 g/t silver.
At current prices, a small mine with a ~ 2.0% copper grade can be economically viable at a copper price of $5.50.
3/31/36 Copper's price was $5.62.
The strongly anomalous copper, gold, and silver results on samples of this type indicate impressive potential for VMS mineralization within the area sampled and in surrounding areas. Based on strong similarities with Iron King VMS ore, the Eagle Copper Zone represents a target that requires detailed exploration as a potential site to host similar deposits.
The historical estimates for the McCabe Deposit predate and are unclassified and not compliant with NI 43-101 guidelines. Significant data compilation, re-drilling, re-sampling, and data verification may be required by a Qualified Person before the historic resource can be verified and upgraded to be compliant with current NI 43-101 standards. The Company's QP has not yet undertaken sufficient work to classify the historic estimate as a current resource, and the Company is not treating the historic estimate as a current resource.