Final Phase 1 Drill Results For Tombstone Project In Southeastern Arizona

VANCOUVER - Aztec Minerals Corp. reported results of the final five drill holes from the 21 hole, 2,993 meter Phase 1 reverse circulation (RC) program, TR20-17 through TR20-21, for the Tombstone project in southeastern Arizona. Extensive gold-silver mineralization was intersected in all five drill holes.

High grade intercepts include 7.62 meters (m) grading 4.18 gpt Au and 174.2 gpt Ag (6.36 gpt gold equivalent (AuEq) at a gold:silver ratio of 80:1) in hole TR20-18 and 22.86 m assaying 1.74 gpt Au and 56.1 gpt Ag (2.45 gpt AuEq) in hole TR20-20. Thick mineralized intervals include 140.21 m grading 0.38 gpt Au and 19.3 gpt Ag (0.62 gpt AuEq) in hole TR20-17 and 82.30 m assaying 0.74 gpt Au and 23.8 gpt Ag (1.03 gpt AuEq) in hole TR20-20. Drill hole TR20-20 was drilled perpendicular to the north trending mineralized zone and is interpreted to represent an approximate ‘true thickness' of gold-silver mineralization.

CEO, Simon Dyakowski, said, "The shallow oxide gold-silver mineralization encountered in Aztec's Phase 1 drill results along the Contention pit include some of the highest-grade gold and silver intervals found to-date at Tombstone. Combined with broad intervals of low to moderate grade gold and silver mineralization, Aztec now has the confidence to target a potential shallow, bulk tonnage oxide resource with further drilling. Aztec's Phase 1 drill expenditures should be sufficient to allow Aztec to vest a 75% interest in the Tombstone project."

This final Phase 1 drill pattern stepped off the edges of the Central drill pattern to the northwest and southwest, extending the gold-silver mineralization in both directions, still open for expansion towards the North and South drill patterns. The final hole, TR20-21, was drilled 185m south of the Centre Spoke towards the west where no known historic drilling had taken place and encountered gold-silver mineralization surrounding several underground workings. The plan view dimensions of gold-silver mineralization now stands at 285m by 200m within the orbit of the Centre Spoke, with excellent potential to expand to the north and south. The overall length of the gold-silver mineralized zone as tested by the Phase 1 drilling now stands at 830 m long by up to 200 m wide, still open to the south.