Aztec Minerals Reviews Highlights of 2019 and Provides Outlook for 2020

VANCOUVER, BC - Aztec Minerals Corp. holds a 65% interest in the Cervantes porphyry gold-copper project in southeastern Sonora state, Mexico in joint venture with Kootenay Silver, and has an option to acquire a 75% interest in the Tombstone epithermal and CRD silver-gold project in southern Arizona from Baroyeca Gold and Silver.

Joey Wilkins, President and CEO, said, "Aztec had a productive year in 2019, galvanized by our exploration successes at Cervantes and Tombstone. We were able to significantly advance several new high priority porphyry gold-copper targets on the Cervantes properties and we refined our "Taylor"-style carbonate replacement (CRD) silver-lead-zinc-copper-gold targets on the Tombstone properties. Our main goals for the new year are to secure the partners or financings we need to drill new discoveries in 2020."

Cervantes Project: Acquired a 65% interest in the Cervantes Project from Kootenay Silver by spending US$1.5 million on exploration, paying US$150,000 and issuing 1,000,000 AZT shares by July 25, 2019; Prior exploration work by Aztec from 2016 to 2018 focused on the successful delineation and drill discovery of a near-surface gold oxide cap to the California porphyry gold-copper prospect; Completed a 430-line kilometer airborne magnetic and radiometric survey which identified 11 prospect zones related to porphyry-type mineralization, including five top priority drill targets, California, California North, Estrella, Purisima East and Purisima West; Conducted a 23.1 line-kilometer, 3-dimensional IP-resistivity survey to extend coverage from the California prospect to the southwest and identify chargeability anomalies at Estrella, Purisima East, and Purisima West; Received excellent early stage bottle roll metallurgical results on 9 drill holes and 4 different domain types that reported 88%, 85%, 78%, and 51% recoveries on 2 oxide composites, 1 mixed composite, and 1 sulphide composite respectively; Identified extensive sodic and alkalic alteration in drill core by thin section analysis and clear geochemical correlation of gold with copper sulfide mineralization

Tombstone Project; Prior exploration work by Aztec in 2017 and 2018 included compilation of historic data for this famous silver mining district, geological and structural mapping, soil and rock sampling, trenching and aeromagnetic surveying to confirm potential for bulk tonnage epithermal silver-gold near surface and CRD silver-lead-zinc-copper-gold CRD mineralization at depth; Refined results for the Tombstone UVA aeromagnetic survey which accentuated north-trending dikes crossing the property and highlighted the Contention structure as a potential feeder zone for CRD mineralization; Identified a northwest-trending subtle magnetic feature interpreted to represent a possible buried intrusion; Conducted additional mapping and sampling of a newly discovered gold-bearing felsic intrusion west of the Contention Pit which returned two rock samples assaying 12.5 and 12.3 g/t Au.

In 2020 the company will finalize the Joint Venture Agreement with Kootenay Silver and on-duct an AMT (audiomagnetotellurics) geophysical survey over high priority CRD targets at Tombstone in Q1. The company plans to secure a senior partner for Cervantes in order to conduct an aggressive exploration program to advance both near surface oxide gold mineralization and deeper porphyry gold-copper targets, and extend detailed geologic, structural, and alteration mapping on Purisima West, Estrella, Jacobo, Brazil, and other targets at Cervantes. Also, plan and permit a substantial RC drilling program on the California and Purisima targets along with planning and permitting an initial core drill program to target CRD (carbonate replacement deposits) lead-zinc-silver-copper-gold mineralization in Paleozoic limestone at Tombstone. The Company will continue to seek additional opportunities in safe jurisdictions within the Americas where focus will be on projects with high quality bulk tonnage gold+/-copper+/-silver potential.

The company’s address is PO Box 10328, #1130, 609 Granville Street, Vancouver, BC V7Y 1G5, (604) 685-9770, aztecminerals.com.