INVESTOR PRESENTATION June 2015

Cautionary Statement Cautionary Note Regarding Forward-Looking Information

Certain information contained in this presentation constitutes forward-looking statements. All statements, other than statements of historical facts, are forward looking statements including statements with respect to the Company’s intentions for its Hermosa property in Arizona, USA including, without limitation, for future drilling on the Hermosa North West project, the amount of mineral resources and mineral reserves, and statements with respect to the Company’s pre-feasibility study on the Hermosa Central project including without limitation, expected future mineral production, expected metal grades and metal recoveries, expected future capital and operating costs, expected realizable metal prices, and the statements under Hermosa Projects Next Steps later in this document. Forward-looking statements are often, but not always, identified by the use of words such as may, will, seek, anticipate, believe, plan, estimate, budget, schedule, forecast, project, expect, intend, or similar expressions. The forward-looking statements are based on a number of assumptions which, while considered reasonable by AZ Mining, are subject to risks and uncertainties. In addition to the assumptions herein, these assumptions include the assumptions described in AZ Mining's management's discussion and analysis for the year ended December 31, 2014 ("MD&A"). AZ Mining cautions readers that forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed in or implied by such forward-looking statements and forward-looking statements are not guarantees of future results, performance or achievement. These risks, uncertainties and factors include general business, economic, competitive, political, regulatory and social uncertainties; actual results of exploration activities and economic evaluations; fluctuations in currency exchange rates; changes in project parameters; changes in costs, including labour, infrastructure, operating and production costs; future prices of zinc, lead, silver and other minerals; variations of mineral grade or recovery rates; operating or technical difficulties in connection with exploration, development or mining activities, including the failure of plant, equipment or processes to operate as anticipated; delays in completion of exploration, development or construction activities; changes in government legislation and regulation; the ability to maintain and renew existing licenses and permits or obtain required licenses and permits in a timely manner; the ability to obtain financing on acceptable terms in a timely manner; contests over title to properties; employee relations and shortages of skilled personnel and contractors; the speculative nature of, and the risks involved in, the exploration, development and mining business; and the factors discussed in the section entitled "Risks and Uncertainties" in the MD&A. Although AZ Mining has attempted to identify important risks, uncertainties and other factors that could cause actual performance, achievements, actions, events, results or conditions to differ materially from those expressed in or implied by the forward-looking information, there may be other risks, uncertainties and other factors that cause performance, achievements, actions, events, results or conditions to differ from those anticipated, estimated or intended. Unless otherwise indicated, forward-looking statements contained herein are as of the date hereof and AZ Mining disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable law. About Reserves and Resources This presentation uses the terms measured, indicated and inferred resources as a relative measure of the level of confidence in the resource estimate. Readers are cautioned that: (a) mineral resources are not economic mineral reserves; (b) the economic viability of resources that are not mineral reserves has not been demonstrated; and (c) it should not be assumed that further work on the stated resources will lead to mineral reserves that can be mined economically. In addition, inferred resources are considered too geologically speculative to have any economic considerations applied to them. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for certain preliminary economic assessments. All Dollars are United States Dollars. All project metrics are shown on a 100%-ownership basis. All tons are short tons.

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Company Background •

AZ Mining Inc. (formerly known as Wildcat Silver) founded in 2006 by Richard Warke who also founded Ventana Gold Corp. and Augusta Resource Corporation

•

80% of Hermosa Property acquired in 2006

•

Significant drill program initiated in 2010

•

Ventana sold in 2011 for C$1.533 billion and Augusta sold in 2014 for C$666 million

•

Graduated to TSX in 2012

•

New focus on Hermosa North West base metal project in 2014

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About The Hermosa Property Hermosa Property Claims •

Hermosa 80% owned by AZ Mining

•

Stable, low risk jurisdiction with a history of

mining •

Located in Santa Cruz County, Arizona

•

80 km SE from Tucson, Arizona

•

Near existing infrastructure: Power, water, rail, highways, natural gas

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Two Distinct Hermosa Projects North West

Central

• Carbonate Replacement Deposit (CRD)

•

Manto Style – Oxide deposit

•

Main mineral is Cryptomolene (K(Mn2+, Mn4+)O16

•

Silver and Manganese ± Gold, Zinc and Copper (mainly as Oxides)

•

Prefeasibility Study completed December, 2013

•

Reserve - 145 M ozs. Silver and 7.2 BN lb’s Mn

•

Resource – M&I of 235 M ozs. Silver and 10.3BN lb’s Mn plus Inferred of 45M ozs. Silver and 1.2BN lb’s Mn (up from total resource (all Inferred) of 54 M ozs. in 2007).

(stratabound) • Sulfides of Zinc, Lead (with Silver) and

Copper • Resource issued July, 2014 • First five drill holes reported May 2015

with high grades (Zn, Pb, Ag, Cu) over significant thickness • Drill program continuing

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Relative Positions of North West and Central

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North West Mineralization

•

Carbonate Replacement Zone is located down-dip and below Central’s Manto Oxide Zone

•

Focuses on zinc, lead, silver and copper potential

•

Currently envisioned as an underground mine with froth flotation processing

•

Opportunity to expand the resource down dip and along strike to the south, north and west

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North West 2014/2015 Drill Results To Date Summary: 1330.5 1127.0 1221.5 1452.5 1508.5

Interval (in feet) 293.5 25.0 36.0 36.5 48.0

572.0 576.0 2913.0 3263.0

604.0 592.0 2943.5 3304.5

1507.0 1511.5 3363.0 3363.0 3391.5

1560.0 1555.0 3387.5 3375.0 3450.0

Drill Hole HDS-330 Including Including HDS-330 HDS-330

From (feet)

To (feet)

1037.0 1102.0 1185.5 1416.0 1460.5

HDS-331 Including HDS-331 HDS-331 HDS-332 Including HDS-332 Including HDS-332

6.75 11.63 18.76 5.52 4.63

Pb% 3.76 5.20 11.88 4.01 5.00

Ag opt 1.50 1.85 4.22 1.71 4.46

Cu% 0.15 0.20 0.36 0.22 0.21

32.0 16.0 30.5 41.5

9.57 16.58 4.50 9.73

5.18 8.09 6.62 19.68

4.13 5.80 2.19 6.37

0.02 0.02 0.03 0.89

53.0 43.5 24.5 12.0 58.5

20.29 24.19 7.69 12.21 3.47

8.32 9.93 17.68 32.58 4.50

4.75 5.63 5.81 10.40 1.69

0.06 0.07 0.51 0.80 0.24

Zn%

Note- all intervals reported are down-the-hole drill intervals and not represented as true thickness of the mineralized zones.

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North West 2014/2015 Drill Results To Date Summary (continued):

Drill Hole

From (feet)

To (feet)

Interval (in feet)

Zn%

Pb%

Ag opt

Cu%

HDS-333 HDS-333 HDS-333 HDS-333

2378.0 2457.0 2532.0 2591.0

2427.0 2522.0 2560.0 2655.0

49.0 65.0 28.0 64.0

7.07 10.09 8.24 5.33

9.80 6.93 5.87 4.57

4.39 2.41 1.71 1.44

0.14 0.13 0.03 0.04

HDS-334 Including Including HDS-334 Including Including HDS-334 Including HDS-334

1847.0 2030.0 2142.0 2501.0 2501.0 2590.0 3106.5 3201.0 3429.0

2332.0 2093.0 2235.0 2837.0 2532.0 2672.0 3217.5 3209.5 3450.0

485.0 63.0 93.0 336.0 31.0 82.0 111.0 8.5 21.0

3.94 9.68 6.92 3.97 13.35 5.70 1.97 17.66 1.14

3.12 8.56 6.60 3.30 8.52 5.86 3.35 21.62 23.78

1.37 3.12 3.15 1.35 5.79 1.81 1.65 8.99 6.53

0.14 0.31 0.27 0.03 0.20 0.03 0.03 0.08 1.05

Note- all intervals reported are down-the-hole drill intervals and not represented as true thickness of the mineralized zones.

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North West Long Section

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North West Cross Section

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North West Mineralogy, Metallurgy, Permitting Mineralogy and Metallurgy: •

Coarse grained, sulfide minerals of sphalerite, galena and chalcopyrite which occur as strata-

bound replacements in the Paleozoic carbonate section. •

Based on drill core characteristics anticipate froth flotation processing of the sulfide mineral to produce zinc, lead and copper concentrates.

•

Metallurgical work will begin in the summer of 2015.

Permitting: •

All holes to-date drilled from patented mining claims where no additional permits required.

•

Subject to various engineering, technical and financial studies expect smaller footprint underground mine located on patented lands.

•

Possibility of State only permit requirements if no nexus to federal lands – under investigation.

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Central Prefeasibility Study Highlights •

After-tax NPV (5%) of $830 million, after-tax IRR of 21.3%, and payback of 2.8 years(1)

•

Average silver production of 12.2 million ounces per year for the first five years and 5.7 million ounces per year for the life of mine (LOM)

•

Average EMM production of 110 million pounds per year for the LOM

•

Average cash costs of $4.35 per ounce silver and $0.74 per pound of Electrolytic Manganese Metal (EMM) for the first five years and $4.45 per ounce of silver and $0.73 per pound of EMM for the LOM (1,2)

•

Average silver cash costs, considering all other metals as by-products(1), of $(4.37) per ounce for LOM

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Mine life of 18 years

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Initial capital expenditures of $834.6 million including $189.3 million for a 55,000 tons per annum EMM plant

1. 2.

Based on metal prices of: $23.50/oz Ag, $1,250/oz Au, $1.19/lb EMM, $0.92/lb Zn, $3.25/lb Cu. Cash costs are calculated on a co-product basis whereby production costs are allocated to silver and manganese based on the relative revenues of each metal. Silver cash costs are net of gold, zinc and copper by-products.

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Central Prefeasibility Study Central Reserve and Resource Estimate (1) Ore Type

Tons (000s)

Ag (opt)

Mn %

Contained Ag Ounces (000s)

Contained Mn lbs (000s)

Total Proven and Probable Mineral Reserves Total Proven

31,067

2.73

8.58

84,737

4,051,000

Total Probable

28,589

2.11

7.99

60,339

3,182,000

59,656

2.43

8.31

145,076

7,233,000

Total Proven & Probable

Total Measured and Indicated Mineral Resource (Inclusive of

Reserves)(2)

Measured

76,114

1.55

6.60

118,120

4,898,000

Indicated

105,568

1.11

5.03

117,043

5,443,000

181,681

1.29

5.67

235,163

10,341,000

45,068

1,238,000

Measured & Indicated

Total Inferred Mineral Resource(2) Inferred

45,151

1.00

3.80

1. Mineral reserve and resource for the Manto Oxide and Upper Silver Zone only. See QP information later in presentation. 2. Mineral resources that are not mineral reserves do not have a demonstrated economic viability. Mineral resources are inclusive of mineral reserves.

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Central Prefeasibility Study Production First 5 Years: 12M oz Ag

Annual Silver Production (Moz)(1)

Hermosa Central is expected to be one of the largest silver producers and the only EMM producer in North America

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6

5

LOM: 5.7M oz Ag

4

3

2

1

Greens Creek Hecla 1. 2.

Hermosa AZ Mining

Rochester Coeur

Galena Complex U.S Silver

Bellekeno Alexco

Lucky Friday (2) Hecla

Based on 2012 Actuals for all companies; AZ Mining based on expected average annual LOM silver production from 2013 Pre-feasibility Study Lucky Friday based on guidance of expected full year production following start up in 2013

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Central Prefeasibility Study Cash Cost Silver cash costs ($/oz) $20.00

$15.00

$10.00

Co-product cash costs (2) $4.45/oz

Cash costs net of all metals (1) $5.00 $(4.37)/oz

$-

AZ MAG

HL

BCM

AZ

THO

SVM

MSV

FVI

SVB

EDR

FR

CDM

PAA

GPR

USA

SSO

$(5.00) 1. 2.

Average silver cash costs (LOM) net of all metals: Mn, Au, Zn and Cu credits. Metal prices are based on: $1.19/lb EMM, $1,250/oz Au, $0.92/lb Zn and $3.25/lb Cu. Cash costs calculated on a co-product basis whereby production costs are allocated to silver based on the relative revenue, net of gold, zinc and copper by-products. Average over the life of mine. Metal price assumptions are as included in footnote 1.

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Hermosa Property Exploration Upside North West •

Exploration Potential remains open to the south, west and north.

•

Drilling continues to expand mineralization

Central •

Central remains open for expansion in all directions.

•

Airborne EM and Mag survey coupled with surface sampling have identified nine high potential targets on unpatented claims

Other Targets •

Additional exploration targets include Copper Porphyry and associated Skarns

Future opportunities: extending exploration to existing targets outside resource area 17

Hermosa Projects Next Steps North West

Central

•

•

Continue drill program to further test the limits of the resource

•

Initiate metallurgical test work to determine metal recoveries and

Continue environmental base-line studies

•

Evaluate integrated Mine Plan with North West

concentrate grades •

Update resource estimate

•

Initiate PEA

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Capital Structure Toronto Stock Exchange Trading Symbol Issued and Outstanding

AZ 154.0 million

Options

2.2 million

Warrants

10.5 million

Fully Diluted

166.7 million

Share Price as of June 2, 2015 Market Capitalization Average Volume 52 Week High/Low

Management/Insider Ownership

C$0.47 C$70 million 85,948 C$0.59/$0.22

~30%

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MANAGEMENT

Richard W. Warke Chairman & CEO

Founder of the Company (Chairman and CEO). He was also the founder and Chairman of Ventana Gold Corp which was sold for C$1.533 billion and Augusta Resource Corporation which was sold for C$666 million. Richard is currently the President, CEO and Director of Catalyst Copper. He has more than 25 years of experience in corporate finance and marketing in the global resource industry, and has been involved in raising over $1 billion dollars in equity for resource companies. Although his endeavours have primarily involved mineral resource operations, he has also been involved with oil and gas, forestry, technology and manufacturing operations.

Donald R. Taylor President & COO

30 years of successful mineral exploration experience on more than five continents in base and precious metals, taking projects from exploration to mine development; was previously at Doe Run Resources and BHP Minerals; has Bachelor of Science degree in Geology from Southeast Missouri State University and a MSc from University of Missouri at Rolla; Licensed Professional Geologist in several states and QP as defined by NI 43-101.

Paul J. Ireland Chief Financial Officer

Extensive financial experience in mining and forestry; Chartered Accountant; also CFO of Catalyst Copper. Other recent CFO roles with Ventana Gold Corp prior to its acquisition in 2011, Diavik Diamond Mines Inc. and Western Forest Products Inc.

Gregory F. Lucero Vice President, Sustainable Development

More than 20 years of management experience in both the public and private sector, as well as an extensive background in the executive government working for local, state, and federal elected officials; holds a Bachelor of Arts degree in Political Science from the University of Arizona.

Purni Parikh Vice President, Corporate Secretary

More than 22 years experience in business administration including more than 17 years experience with public companies in the areas of communications, investor relations and legal administration; also Corporate Secretary for Plata Latina Minerals and Catalyst Copper, as well as Augusta Resource Corporation prior to its recent acquisition.

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BOARD OF DIRECTORS Richard W. Warke Chairman & CEO

Founder of the Company (Chairman and CEO). He was also the founder and Chairman of Ventana Gold Corp which was sold for C$1.533 billion and Augusta Resource Corporation which was sold for over C$666 million. Richard is currently President, CEO and Director of Catalyst Copper. He has more than 25 years of experience in corporate finance and marketing in the global resource industry, and has been involved in raising over $1 billion dollars in equity for resource companies. Although his endeavours have primarily involved mineral resource operations, he has also been involved with oil and gas, forestry, technology and manufacturing operations.

R. Stuart Angus Director

Independent business advisor, past partner and head of global mining group at Fasken Martineau. Chairman of Nevsun Resources Ltd., Director of SouthGobi and previously Director of Ventana Gold.

Poonam Puri Director

Poonam Puri, Professor of Law and formerly Associate Dean at Osgoode Hall Law School and affiliated scholar to Davies Ward Phillips & Vineberg LLP, is one of Canada’s most respected scholars and commentators on issues of corporate governance, corporate law, securities law and financial regulation. Professor Puri is a member of the Board of Directors of the Greater Toronto Airports Authority and also sits on the Board of Directors of Toronto’s Women’s College Hospital. Professor Puri has a Bachelor of Laws (LLB) degree from the University of Toronto, a Master of Laws (LLM) degree from Harvard Law School and is a member of the Institute of Corporate Directors.

Don Taylor Director

30 years of successful mineral exploration experience on more than five continents in base and precious metals, taking projects from exploration to mine development; was previously at Doe Run Resources and BHP Minerals; has Bachelor of Science degree in Geology from Southeast Missouri State University and a MSc from University of Missouri at Rolla; Licensed Professional Geologist in several states and QP as defined by NI 43-101.

Donald R. Siemens Director

Independent financial advisor specializing in corporate finance, cross-border transactions and mergers and acquisitions; previously, Partner-in-Charge of Thorne Ernst & Whinney's (now KPMG) Vancouver office Financial Advisory Services group; over 30 years of experience as a Chartered Accountant; currently Director and Audit Committee Chair for Hansa Resources Limited, Nikos Explorations Ltd, Spur Ventures Inc., Argentex Mining Corporation, Boss Power Corp. Grande West Transportation Inc. and Goldgroup Mining Inc. and Director and Audit Committee member for Great Western Minerals Group Inc. Donald obtained his Chartered Accountant designation in 1972.

Robert P. Wares Director

Professional geologist with more than 30 years’ experience in mineral exploration and research; currently President and CEO of NioGold Mining Corporation, Chief Geologist for Osisko Gold Royalties Ltd. and director of several public mining companies; former Executive VP, COO and Founding Director of Osisko; previously, Director and Audit Committee member of Augusta Resource Corporation. Mr. Wares holds a Bachelor’s Degree (Honours) in Geology and an Honorary Doctorate in Sciences from McGill University.

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Qualified Persons Joshua Snider, PE, an independent Qualified Person under the standards set forth by NI 43-101, was responsible for preparing the information in relation to the pre-feasibility. Mr. Snider is a Civil Engineer with M3 and has over 15 years of experience in the engineering and mining industry.

Metallurgical test results included in the pre-feasibility study have been reviewed, verified, and interpreted by Christopher Easton, BSc., Chemical Engineering, a Qualified Person under the standards set forth by NI 43-101. Mr. Easton is the president of Easton Process Consulting Inc. has 24 years of mineral processing and metallurgical engineering experience, and is a Qualified Professional Member in Metallurgy of MMSA. Scott Wilson, President of Metal Mining Consultants, is an independent qualified person as defined by National Instrument 43-101 was responsible for preparing the information in relation to the Hermosa Central mineral reserve and mineral resource estimates, including the Hermosa North West mineral resource. Mr. Wilson is a Certified Professional Geologist and member of the American Institute of Professional Geologists (CPG #10965) and a Registered Member (#4025107) of the Society of Mining, Metallurgy and Exploration, Inc., a professional association and designation recognized by the Canadian regulatory authorities. Timothy George, PE, an independent Qualified Person under the standards set forth by NI 43-101, reviewed and was responsible for preparing the information for the Hermosa reserve determination and mine plan in the pre-feasibility study. Mr. George is a Mining Engineer with Metal Mining Consultants. Process design criteria and cost estimates for the EMM facility in relation to the pre-feasibility study have been reviewed by Terry McNulty, D Sc, PE., a Qualified Person under the standards set forth by NI 43-101. Dr. McNulty is President of T. P. McNulty and Associates, Inc., has over 50 years of experience in mineral processing and extractive metallurgical engineering, and is a Registered Member of SME.

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Head Office

Denver Office

Contact

555-999 Canada Place Vancouver, BC V6C 3E1 tel (604) 484-3597

4500 Cherry Creek South Drive, Suite 1040 Denver Colorado, USA 80246 tel (303) 300-6890

Paul Ireland tel (604) 484-3597 [email protected]