Vancouver - Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) announces that it has intersected the best hole yet from the 2022 RC drill program at the California target on the Cervantes property located in Sonora, Mexico.

Results for hole CAL22-005 returned 136.8 metres grading 1.486 gpt Au including 51.7 metres grading 3.424 gpt Au.

California Zone Drill Highlights

1.486 gpt Au over 136.8 m in mineralized quartz feldspar porphyry and hydrothermal breccias, including 51.7 metres of 3.424 gpt Au in CAL22-005, located at the southern edge of the central part of the mineralized zone

0.75 gpt Au over 100.3 m in mineralized porphyries and hydrothermal breccias, including 9.1 metres of 3.087 gpt Au in CAL22-006 located at the northern edge of the central portion of the mineralized zone

0.422 gpt Au over 63.8 m in mineralized porphyries and hydrothermal breccias in CAL22-007, located at the northern edge of the central portion of the mineralized zone

The primary focus of the Phase 2 RC drill program at Cervantes is to expand the previously drilled California zone by completing two drill hole fences parallel to and on either side of the 2017-18 Phase 1 drill hole fence. To-date, every hole drilled at California has intersected near surface, oxidized gold mineralization with minor copper oxides.

Reported lengths are apparent widths, not true widths, and the observed gold mineralization appears to be widely distributed in disseminations, fractures and veinlets within quartz-feldspar porphyry, feldspar porphyry stocks and related hydrothermal breccias.

Aztec CEO, Simon Dyakowski commented, 'CAL22-05 intersected the strongest gold mineralization at Cervantes in the project's history. This discovery further advances the California gold zone in demonstrating the open pit heap leach gold potential of the project. Overall, the 2021-2022 RC drill program continues to return strong gold grades over broad widths in every drill hole reported to date.'

Cervantes Property Highlights

Cervantes is a highly prospective porphyry gold-copper property located in southeastern Sonora state, Mexico. The project lies 160 km east of Hermosillo, Sonora, Mexico within the prolific Laramide porphyry copper belt approximately 265 km southeast of the Cananea porphyry copper-molybdenum mine (Grupo Mexico). Cervantes also lies along an east-west trending gold belt 60 km west of the Mulatos epithermal gold mine (Alamos Gold), 35 km northeast of the Osisko Development San Antonio gold mine, 45 km west of the La India mine (Agnico Eagle), and 40 km northwest of Santana gold deposit (Minera Alamos).

Large well-located property (3,649 hectares) with good infrastructure, road access, local town, all private land, water wells on property, grid power nearby

Seven prospective mineralized zones related to high level porphyries and breccias along an 7.0km east-northeast corridor with multiple intersecting northwest structures

Distinct geophysical anomalies, California target marked by high magnetic and low resistivity anomalies, high radiometric and chargeability anomalies responding to pervasive alteration

Extensive gold mineralization at California zone, 118 soil samples average 0.44 gpt gold over 900 m by 600 m area, trench rock-channel samples up to 0.47 gpt gold over 222m

Already drilled the first discovery hole at the California zone, intersected gold oxide cap to a classic gold-copper porphyry deposit, drill results up to 0.77 gpt gold over 160 m

Excellent gold recoveries from preliminary metallurgical tests on drill core from California zone; oxide gold recoveries in bottle roll tests range from 75% to 87%

California geophysical anomaly wide open laterally and at depth, IP chargeability strengthens and broadens to >500m depth over an area 1100 m by 1200 m

Three-Dimensional IP Survey conducted in 2019 extends strong chargeability anomalies to the southwest covering Estrella, Purisima East, and Purisima West, coinciding well with alteration and Au-Cu-Mo soil geochemical anomalies, all undrilled.

About Aztec Minerals

Aztec is a mineral exploration company focused on the discovery of large polymetallic mineral deposits in the Americas. Our core asset is the prospective Cervantes porphyry gold-copper property in Sonora, Mexico. Aztec also has control of the historic, district-scale Tombstone properties host both bulk tonnage epithermal gold-silver as well as CRD silver-lead-zinc mineralization in Cochise County, Arizona. Aztec's shares trade on the TSX-V stock exchange (symbol AZT) and on the OTCQB (symbol AZZTF).

Contact:

Simon Dyakowski

Tel: (604) 619-7469

Fax: (604) 685-9744

Email: simon@aztecminerals.com

Web: www.aztecminerals.com

Forward-Looking Statements

Certain statements contained in this press release may constitute forward-looking statements under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'expects' or 'it is expected', or variations of such words and phrases or statements that certain actions, events or results 'will' occur. These forward-looking statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws.

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