Continued Strong Drill Results From California Zone At Cervantes Project

VANCOUVER, BC - Aztec Minerals Corp. reported that it continued to intersect gold mineralization extending the California Zone to the North and to depth with initial Au assay results for the final three core holes from the recently completed Phase 3 core drilling program at the Cervantes Project in Sonora, Mexico.

Results for hole CAL22-031, a near vertical step out extending the California zone to depth, returned 114.0m grading 0.73 gpT Au. The results also extend the California mineralized and altered Qfp intrusive complex to depth and to the north. Drill hole CAL22-031, in the central area of the California zone, returned 114.0m in two intervals from surface grading 0.73 gpT Au, including 28.5m grading 0.87gpT Au and 85.5m grading 0.58 gpT Au to 135m depth. This drill hole confirms the footwall of the main California Zone mineralization at depth and fills a large gap in the drilling pattern. Drilling has also expanded the footprint of the known extents of the mineralized and phyllically altered California Qfp intrusive complex to 140 m depth and 110m to the North in CAL22-030.

Drilling has also intercepted broad alteration and oxide copper mineralization at the Jasper Copper target, a 600 meter step out west of the California Zone. The Jasper target step out JAS22-002 was collared 70m south from the well-Copper mineralized JAS22-001. The entire 209m depth of JAS22-002 was in strongly oxidized, argillically altered, and brecciated siltstone-quartzite sediments, as was the case for JAS22-001.

To-date, every hole except one, drilled at the California Zone target has intersected near surface, oxidized gold mineralization with minor copper values. California Zone Drill Highlights: CAL22-031 - 114 m @ 0.73 gpT Au.

The primary focus of the Phase 3 Core drilling program at Cervantes is to expand the previously drilled California target, California North and Jasper targets, to enhance geologic understanding of the targets, and to collect a sample for metallurgical testing. The oriented core drilling program in 2022 tested step-outs of 35 to 450 meters using varying azimuths and inclinations. The Phase 3 core drilling program at Cervantes was comprised of eleven core holes totaling 2,515.5 meters drilled at the California, California North and Jasper targets.