AZTEC MINERALS CORP - AZZTF STOCK NEWS

Aztec Minerals Corp. (OTCQB: AZZTF) announced remarkable drill results from its Tombstone Project, revealing 3,477 gpt Ag (111.96 oz/t) over 1.52 m and a broader intersection of 733.9 gpt Ag (23.63 oz/t) over 7.6 m. This marks the highest silver grade found by Aztec at this site to date. The first hole of a total of ten in the 2023 drilling program confirmed mineralization below previous depths and near historical workings. The ongoing drilling aims to explore gold and silver targets in the Contention Pit. The exploration highlights the project's significant potential, as mineralization remains open at depth.

Aztec Minerals Corp. has initiated its 2023 exploration program at the Cervantes gold-copper project in Sonora, Mexico. The program involves two field crews conducting surface exploration, soil sampling, and geological mapping. The goal is to enhance geochemical understanding and define the potential of the gold oxide cap and deeper copper-gold mineralization. Cervantes spans 3,649 hectares, located in a productive mineralized region. Significant past drilling results include intersections of up to 1.49 gpt gold over 137m. The current exploration is timely, taking advantage of the regional dry season to maximize efficiency.

Aztec Minerals Corp. (OTCQB:AZZTF) has initiated a 10 hole, 2,250m core drilling program at its Tombstone Project in Arizona, aimed at expanding oxidized gold-silver (Au-Ag) mineralization. This program follows a successful 2020-21 Reverse Circulation drill campaign, which demonstrated productive intersections in all 44 holes drilled. The current drilling targets both lateral and depth expansions within the known mineralization zones. Aztec plans to conduct additional analyses and mapping after drilling completion, emphasizing its potential for grading and volumetric expansion in historic mining districts.

Aztec Minerals Corp. has successfully closed a CAD$1.1 million non-brokered private placement, issuing 4,378,168 common shares at CAD$0.25 per share. This placement generated gross proceeds of CAD$1,094,542 without issuing warrants or paying finders fees. Alamos Gold Inc. participated with a subscription of 400,000 shares, decreasing their holding percentage to 15.86%. The proceeds will fund exploration at Aztec's Cervantes and Tombstone projects and provide general working capital. The placement awaits final acceptance by the TSX Venture Exchange and is subject to a four-month hold period.

Aztec Minerals Corp. (AZT:TSX-V)(OTCQB:AZZTF) plans to resume drilling at the Contention gold-silver target in Arizona's Tombstone Mining District in early 2023. The 2,500m core drilling program aims to expand known oxide Au-Ag mineralization, following successful 2020-21 Reverse Circulation drilling. All 44 previous drill holes encountered significant mineralization, with plans for 10–12 inclined holes designed to reach depths of 225m. The drilling will support a potential 43-101 compliant resource estimate. Aztec holds a 75% interest in the Tombstone property, a historic silver district known for high-grade mineralization.

Aztec Minerals Corp. has outlined a two-phase exploration program totaling CAD$1.2 million at its Cervantes project in Sonora, Mexico. Phase 1, commencing in Q1 2023, includes a CAD$250,000 surface exploration involving soil and rock sampling, geological mapping, and data collection to enhance geochemical knowledge. The Phase 2 plan, contingent on Phase 1 results, aims for a CAD$900,000 reverse circulation drill program to expand the California target mineralization. The Cervantes project covers 3,649 hectares and is situated in a prominent mining region with ongoing promising mineralization.