AZT:CC - Aztec Continues to Sample Broad High-Grade Gold & Silver Mineralization at the Tombstone Project in Arizona including 1.97 gpt Au and 120.36 gpt Ag (3.47 gpt AuEq) over 60.0 meters.

(TheNewswire)

• 60.0 m continuous chip channel sampling averaging 3.47gpt AuEq includes: 36.0 m of2.86 gpt Au 172.41 gpt Ag (5.02 gpt AuEq)

• Extends Wide High-Grade Gold and Silver OxideMineralization from previous drilling to the surface

• Robust geological and assay data results supportdiscovery potential down dip and along strike of the mineralized zone

• Additional reconnaissance sample assay results arepending

Vancouver, Canada – TheNewswire - July 2, 2024 - Aztec Minerals Corp. (AZT:TSX-V, OTCQB: AZZTF) (“ Aztec ” or the“ Company ”) announces that the second batch ofassay results the 2024 surface exploration program has significantly extended the broadgold-silver mineralization footprint from theoriginal dimensions of 2020-2023 drilling in andaround the Contention Pit at the Tombstoneproject.  The Tombstone project covers most of the historic Tombstonesilver mining district in southeastern Arizona.

Highlights:

• The latest Contention Pit channel sampling resultsfurther extend the presence of near-surface, broad, high-grade gold and silver mineralizationconfirming Aztec’s drilling from 2020 to 2023.

• Select channel line interval highlightsinclude:

• • Line H: 60.0 m at 1.97 gpt Au and120.36 gpt Ag (3.47 gpt AuEq) including 36.0 m 2.86 gpt Au and 172.41gpt Ag at (5.02 gpt AuEq)

  • Line G2: 45.6 meters at 0.40 gpt Auand 39.88 gpt Ag (0.89 gpt AuEq) including 12.0 meters of 0.67 gpt Auand 77.47 gpt Ag (1.64 gpt AuEq) and 2.0 meters of 2.17 gpt Au and97.90 gpt Ag (3.40 gpt AuEq)

  • Line N: 49.5 m at 0.17 gpt Au and14.14 gpt Ag (0.34 gpt AuEq)

• The channel sampling results provide key information tosupport expansion drilling on the western portion of the ContentionPit targeting new mineralized gold and silver zones.

• This high-priority target area was historicallyreported as a target for open pit mining expansion by previousoperators. (see Figure 1).

• The recently acquired knowledge ofthe mesothermal mineralization geological setting indicates a highpotential for further discovery of wide oxide Gold Silver alongstrike and down dip of prospective hosting rocks outcropping in theContention Pit areas (see Figure 2)

• Additionalreconnaissance sample assay results are pending .

Figure 1:  Tombstone 2024 ChannelSampling from the sample Lot 2 with drill cross section K (lightgreen, Fig.2 below) and reported channel sampling lines andareas

Click Image To View Full Size

Many of the high-grade gold-silver sample results fromLot 2 are located immediately adjacent to the Westside target area andindicate the strong potential to expand into multiple zones of broadAu-Ag oxide mineralization to the west.  This second lot of sampleresults confirm and expand the first lot’s sample results (pleasesee news release dated June 24,2024 ).

The results of the Channel Sampling Program, Lot 2,illustrated in Table 1, supports the presence of broad, mesothermal,gold and silver oxidized mineralization and suggests the potential forfurther expansion of the mineralization footprint in the hostformations down dip and along strike, also demonstrating the potentialextensions towards the west of the historical Contention Pit

Table 1:  Tombstone Contention PitChannel Sampling Lot 2 Results*

*Note the Table 1 results are weighted averages, notcapped and may not be representative, only indicative. AuEq Calculatedusing an 80:1 gold-silver ratio

Figure 2: Drilling Section K withAuEq intercepts and Channel Sampling from Lines G2 and H

Click Image To View Full Size

2024 Exploration Program:

The primary objectives of the 2024 surface explorationprogram are to continue to expand and define the shallow, openpit-table, oxidized gold/silver potential mineralization, and to alsodevelop targeting for the CRD mineralization historically demonstratedto be present at depth.

Aztec collected and analyzed (482) rock chip channeland reconnaissance samples for multi-elements including 422 mine-cutchip channel samples of 2 meters length each from the Contention pitwith accessible, visible coloration and/or alteration and 60 outcropand waste rock storage site reconnaissance composite and selectsamples over the rest of the project, including the Westside area, toexpand and enhance geochemical and geological knowledge throughout theTombstone project exploration targeting.  The results of Lot 2totaled 142 samples excluding the QAQC samples.

Aztec’s recent geological mapping at detailed scale(1:200) within the Contention pit and at reconnaissance scale(1:2,000) over the surrounding property has identified attractivemesothermal broad oxidized new mineralized zones. In the Contentionpit mapping, recent detailed lithological,structural and alteration mapping is proving crucial for definition ofthe extensions towards the Westside area .

Project data evaluation also continues to advanceincluding the 3D modeling of the historic mine workings, drilling andgeologic data. Modeling the geochemistry including trends ofAu-Ag mineralization will then resume using theunderstandings gained on the multi-element relationships with Au-Ag,reviewing the subsequent results to the geophysical data and theSWIR-Terraspec data, and other investigations.

Tombstone Project Overview

Aztec holds a 75% interest in the Tombstone PropertyJoint Venture, which includes most of the original patented miningclaims in the main district as well as some recently acquiredproperties .

The main target of the 2023 coredrill program was to continue testing the shallow, bulk tonnage, heapleachable, mesothermal gold-silver oxide mineralization adjacent andbelow the previously mined Contention pit by infill and step-outdrilling.  Core drilling was needed in order to penetrate themultiple historic workings and to acquire critical geological data. Future drilling is expected to focus on strike and dip extensions ofthe shallow oxide mineralization, and move deeper to test for larger,deeper “Taylor-type” lead-zinc-silver CRD targets along andadjacent to the Contention structure.

The Tombstone project is located 100 kilometers (km)southeast of Tucson, Arizona and covers much of the historic Tombstonesilver district.  Tombstone is renowned for its high grade, oxidized,silver-gold mesothermal stringer lode veins, hydrothermal breccias andmanto CRD orebodies that were mined in the late 1800’s and early1900’s.  The historic silver production in the Tombstone districtfrom 1878 to 1939 was estimated at 32 million ounces and 250,000ounces of gold.

The district geology consists of a mix ofshallow-level, oxidized Au-Ag and base metal deposits related to CRDand skarns hosted in folded and thrusted sediments, intrusive dikesand lode veins, and as well the under explored, sulfide versionslocated below the water table.

Host rocks to the mineralization are primarily theclastic sediments of the lowest portion of the Cretaceous BisbeeFormation.  Between 50 and 300 meters (m) in depth, the Bisbee isunderlain by approximately two kms thick of the same Paleozoic carbonate formations that host the 110 MTHermosa-Taylor zinc-lead-silver deposit of South32 located 60 kmsouthwest of Tombstone.

Although the historic silver mines at Tombstone weregenerally small, Aztec believes they could be related to much largermesothermal and CRD orebodies below the old mines.  Since 2017, Aztechas completed geological mapping, geochemicalsampling and geophysical surveying to identify the most prospectiveareas for Au-Ag mineralization around and below the Contention openpit, and CRD zinc-lead-copper-silver-gold mineralization below theentire district. Aztec management views the district as highlyprospective for the discovery of mesothermal and CRD orebodies.

Note: Gold equivalents are calculated using a 80:1 silver:gold ratio in2020, 2023 and 2024, and a 70:1 silver:gold ratio in 2021. Reported lengths areapparent widths, not true widths.  The Contention Au-Agmineralization zones are generally west dipping at around 60-80degrees, associated with the quartz-feldspar porphyry dikes. However, these dikes also extend as sills in shallow angles out fromthe Contention fault along fold noses in the Bisbee clastic sedimentsso the full range of mineralization dips vary from 20 to 80 degrees. True widths for the apparent mineralization intersection widths ofthe drill holes approximately range from 50 to 100% of the apparentwidths, with the norm for the mineralized true widths being 60 to 90%of the apparent widths. Please see summary news releases dated: July 5, 2023 , December 7, 2021 , and January 12, 2021 .

Summary Tombstone ProjectHighlights

• Well located property on patented (33) and unpatented (42) claims (452.02hectares/1,116.94 acres), covers much of the historic Tombstone silvermining district, great infrastructure, local town, road access, fullservices, water, power

• Historic silver district produced 32 million ounces of silver and 250,000 ounces ofgold from 1878-1939, in high grade, oxidized,silver-gold-lead-zinc-copper vein, breccia and CRD deposits, and smallopen pit heap leach production in late 1980’s

• Drilling by Aztec in 2020-23 has demonstrated that the Contention Pit targethas significant, shallow. oxidized Au-Ag bulk tonnage mineralizationwhich is open in all directions

• Multiple other prospectivetarget s in Cretaceous and Paleozoic rocksrelated to major NW and NNE trending structures hosting porphyriticintrusions crosscutting a possible caldera ring structure

The following are highlights of recent drillingintersections supporting the conceptual exploration model formineralized footprint growth.

• TR21-22: 2.44 gpt Au and 66.56 gpt Ag (3.39 gpt AuEq) over 65.5m (including 16.80 gpt Au and374.36 gpt Ag over 7.6m)

• TR21-03 - 5.71gpt Au and 40.54 gpt Ag (6.28 gpt AuEq) over 32.0m

• TC 23-01: 3,477gpt Ag over 1.52m from a zone of 733.9 gpt Ag over 7.6 m within 125 m of1.63 gpt AuEq

• TR21-10: 1.39 gpt Au and 56.40 gpt Ag (2.20 gpt AuEq) over 96.0m

• TR21-13: 1.8 gpt Au and 36.9 gpt Ag (2.33 gpt AuEq) over 70.1 m

• TR21-17: 1.73 gpt Au and 56.20 gpt Ag (2.53 gpt AuEq) over 64.0m

• TR21-08: 2.09 gpt Au and 47.1 gpt Ag (2.76 gpt AuEq) over 39.6m

• Hole TC23–02 – 1.69 gpt gold and 29.07 gptsilver (2.03 gpt gold AuEq)over 45.3 m, including 10.1 m grading 6.63 gpt gold and 72.81 gptsilver (7.49 AuEq)

• TC23-05 – 2.816 gpt gold and 176.64 gptsilver (5.02 gpt AuEq) over36.0 m, including 6.45 gpt gold and 408.47 gpt silver (11.554 gptAuEq) over 15.5 m

The company uses quality assurance-quality control aspart of its sampling-assaying-assessments in conjunction with itsexploration sampling programs.  Samples and their collection arecontrolled by an industry standard conforming QAQC program includinginsertions of certified standards, blanks and sample duplicates.  Thesamples are being regularly shipped to and received by the BureauVeritas Minerals laboratory in Hermosillo, Mexico for geochemicalanalysis.

Core and RC drilling samples are continuously collectedover 5-foot (1.52m) sample intervals from all drill holes. The sampleswere analyzed for gold with a 30-gram sample size using the fire assaymethod FA430 followed by multi-element MA300, including silver. Overlimits, when present, are analyzed by MA370 or FA530.  All holescontain certified blanks, standards, and duplicates as part of thequality control program.

Allen David Heyl, B.Sc., CPG., VP Exploration of Aztec,is the Qualified Person under NI43-101, supervised the Tombstoneexploration programs.  Mr. Heyl has reviewed and approved thetechnical disclosures in this news release.

“Simon Dyakowski”

Simon Dyakowski , ChiefExecutive Officer

Aztec Minerals Corp.

About Aztec Minerals – Aztec is a mineral exploration company focused ontwo emerging discoveries in North America. The Cervantes project is anemerging porphyry gold-copper discovery in Sonora, Mexico. TheTombstone project is an emerging gold-silver discovery with high gradeCRD silver-lead-zinc potential in southern Arizona. Aztec’s sharestrade on the TSX-V stock exchange (symbol AZT) and on the OTCQB(symbol AZZTF).

Contact Information - For more information, pleasecontact:

Simon Dyakowski, President & CEO, Director

Tel: (604) 685-9770
Fax: (604) 685-9744
Email: info@aztecminerals.com

Website: www.aztecminerals.com

Neither TSXV nor its Regulation Services Provider (asthat term is defined in the policies of the TSXV) acceptsresponsibility for the adequacy or accuracy of this release. No stockexchange, securities commission or other regulatory authority hasapproved or disapproved the information contained herein.

Forward-Looking Statements:

This news release contains “forward?lookinginformation or statements” within the meaning of applicablesecurities laws, which may include, without limitation, completing ongoing and planned work, statements relating toadvancing the Tombstone Project, drill and sampling results includingadditional potential work and results therefrom, the Company’s plansfor its Tombstone Project, potential for further expansion of themineralization at the Tombstone Project, expected results andoutcomes, the technical, financial and business prospects of theCompany, its project and other matters . All statements in this news release, other thanstatements of historical facts, that address events or developmentsthat the Company expects to occur, are forward-looking statements.Although the Company believes the expectations expressed in suchforward-looking statements are based on reasonable assumptions, suchstatements are not guarantees of future performance and actual resultsmay differ materially from those in the forward-looking statements.Such statements and information are based on numerous assumptions regarding present and future business strategiesand the environment in which the Company will operate in the future,including the price of metals, the ability to achieve its goals, thatgeneral business and economic conditions will not change in a materialadverse manner, that financing will be available if and when neededand on reasonable terms. Such forward-lookinginformation reflects the Company’s views with respect to futureevents and is subject to risks, uncertainties and assumptions,including the risks and uncertainties relatingto the interpretation of exploration results, risks related to theinherent uncertainty of exploration and cost estimates and thepotential for unexpected costs and expenses, and those filed under the Company’s profile on SEDAR+ atwww.sedarplus.ca. Factors that could causeactual results to differ materially from those in forward lookingstatements include, but are not limited to, continued availability ofcapital and financing and general economic, market or businessconditions, adverse weather conditions, failure to maintain or obtainall necessary government permits, approvals and authorizations,failure to obtain or maintain community acceptance, decrease in theprice of gold, silver and other metals, increase in costs, litigation,and failure of counterparties to perform their contractualobligations. The Company does not undertake toupdate forward?looking statements or forward?looking information,except as required by law.

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