Vancouver - Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) and Kootenay Silver Inc. plan a two-phase, CAD$1.13 million exploration program in 2021 for the Cervantes porphyry gold-copper property in Sonora, Mexico.

Aztec (65%) and Kootenay (35%) recently formed a 65/35 joint venture ('JV') and the JV Management Committee met last week to review and approve the following Phase 1 and 2 exploration programs for 2021.

The JV plans to start work in the 1st quarter on a Phase 1, CAD$85,000 program of soil and rock sampling and geological mapping (525 soils and 150 rocks will be analyzed) to extend the 100 meter (m) by 100m geological and geochemical grid to the north, west and east boundaries of the property. Mapping will focus on detailed lithological, structural, and alteration mapping of the California, California North, and Estrella targets. View: Cervantes Proposed Phase 1 Sampling and Mapping Plan

Subject to the Phase 1 results and available funds, the JV plans to initiate a Phase 2, CAD$1.05 million, 22 hole, 5,000 m reverse circulation ('RC') drill program late in the 3rd quarter. Four main targets will be tested. View: Cervantes Proposed Phase 2 RC Drilling Plan

At the California target, where Aztec previously discovered extensive porphyry gold-copper mineralization (drill intercepts up to 0.77 gpt gold over 160m), the JV will drill 14 infill and step-out holes at a 50m spacing to expand and define the area of mineralization, followed by two 500m deep holes to test the depth extent of the strong IP chargeability anomaly

At the California North prospect, one hole will test the coincident IP chargeability/gold-copper-molybdenum anomaly

At the Jasper prospect, one hole will test the outcropping copper mineralization and copper-molybdenum anomaly

At the Purisima East target, four holes will test the high grade gold mineralization in the Glory Hole mine working and coincident IP chargeability and gold-copper-molybdenum anomaly within a breccia along the rim of a porphyry intrusion

The primary objectives of the two phase 2021 exploration program are to better define the open pit, heap leach gold potential of the porphyry oxide cap at California, evaluate the potential for deeper copper-gold porphyry sulfide mineralization underlying the oxide cap, test for north and west extensions of the California mineralization at California North and Jasper, and assess the breccia potential of Purisima East.

Aztec CEO Simon Dyakowski commented 'Success in our 2021 exploration program will build our confidence in the potential to advance the project to an initial open pit resource and elevate the profile of the Cervantes project in a region that has both porphyry copper and heap leach gold production in Mexico.'

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. 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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