Initial 2021 RC Drill Results From Tombstone Project

VANCOUVER - Aztec Minerals Corp. has received the assay results from the first five holes of its 2021, Phase 2, 20 hole, 2,900 meter reverse circulation (RC) drill program on the Tombstone project at the historic Tombstone silver mining district in southeastern Arizona. The first five holes were drilled in two fan patterns below the north-central part of the Contention open pit, stepping out from and filling in between the 2020 north and central Contention drill patterns. Every hole intersected near surface, oxidized gold-silver mineralization in two or more parallel zones.

Drill Highlights: 5.713 grams per tonne (gpt) gold and 40.5 gpt silver (6.282 gpt gold equivalent (AuEq)) over 32.01 meters (m), including 15.24 m grading 11.891 gpt gold and 62.9 gpt silver (12.79 gpt gold equivalent AuEq) in hole TR21-03; 1.19 gpt gold and 37.1 gpt silver (1.72 gpt AuEq) over 21.34 m in hole TR21-04; and 2.07 gpt gold and 26.1 gpt silver (2.44 gpt AuEq) over 21.40 m hole TR21-05.

Gold Equivalents are calculated using a 70:1 silver:gold ratio. Reported lengths are apparent widths, not true widths. True widths for the first five holes are estimated at 40-80% of apparent widths.

All 5 holes intersected extensive gold and silver mineralization, see table below, extending the mineralized zones at depth and along strike, below and west of the Contention open pit. Two of the five holes also intersected old mine workings, likely dating back to the late 1800's, indicating that the highest-grade bonanza mineralization in the area drilled was mostly, previously mined out.

The area drilled on the west side of the Contention Pit is adjacent on the north to the area drilled in 2020 near the centre of the pit (central drill pattern). The area drilled measures 145 meters north to south along strike by 65 meters east-west perpendicular to the Contention mineralized structure, with gold-silver mineralization still open in all directions. The drilled area reported herein demonstrates mineralization over a combined length of 290 meters from the 2020 and current drilling. Holes TR21-06 to 11 have been completed and sampled and each hole intersected similar widespread alteration and mineralization spanning an area 350 m long by 65 m wide. Results are pending.

CEO, Simon Dyakowski, said, "Our initial 2021 drill program results have exceeded our expectations, returning strong grades over broad widths and confirming and expanding the historic gold and silver mineralized zones. Holes 21-6 to 10 also intersected strong and broad mineralized zones, and continue to show strong geological similarities to both the initial drill holes and the historic drill holes."