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- Several drillholes in the first pass test of the Westside Zone confirmed Silver-Gold oxide mineralization intersections for the geologically diverse, modeled targets

- The Westside Zone demonstrates potential for hosting shallow Silver-Gold oxide mineralization similar to that of the adjacent Contention Main Zone

2024 RC Drilling Program

The 2024 Tombstone RC drilling program achieved its goals of expanding the footprint of the shallow, potentially bulk mineable and heap leachable, mesothermal oxide silver-gold mineralization in the Contention Zone and finding mesothermal oxide silver-gold mineralization zones in the Westside Zone's first pass drilling. The Contention oxide silver-gold mineralization has been expanded considerably to the west, south, north and to depth, and is still open in all directions.

The Westside zone's first pass drilling exploring was targeting several demonstrated mineralization focusing structures anticlines, quartz stringer fissure lodes, and quartz feldspar porphyry dikes for oxide silver-gold mineralization found it in every drillhole including a discovery hole (TR24-13) in the Westside Anticline.

The drilling program targeted shallow zones, associated with recently completed surface exploration and 3D geological modelling, prospective for wide oxide gold-silver mineralization. The drilling program has completed 17 RC drill holes (3,129.2m) testing both Contention area step out targets and Westside zone's first pass targets (see Figures 1, 2 below), with results from all 17 holes now announced.

Contention Main Zone

Eight of the 2024 RC holes in the program were drilled in the Contention main zone as part of a "fan grid pattern" being drilled in the Contention area since 2020. These 2024 RC drill holes were to test for extensions on the west and north borders and underneath of the north-trending Contention main zone which hosts much of the historic underground and open pit Contention mine.

- Holes TR24-01, 02 and 03 were oriented azimuth 105, -60, and designed to test for westerly and down dip extensions of mineralization under the west pit wall and to depth. All three drill holes had long intercepts of oxide silver-gold mineralization:

- Hole TR24-01 intercepted 0.59 gpt Au and 12.48 gpt Ag (0.75 gpt AuEq) over 103.6m, including 15.3m grading 2.84 gpt Au and 21.4 gpt Ag (3.11 gpt AuEq).

- TR24-02 intercepted 0.19 gpt Au and 8.34 gpt Ag (0.3 gpt AuEq) over 149.4m, ending in low grade mineralization and including 7.6m grading 1.65 gpt Au and 12.16 gpt Ag (1.8 gpt AuEq).

- TR24-03 intercepted 0.23 gpt Au and 10.43 gpt Ag (0.36 gpt AuEq) over 35.1m, and 0.33 gpt Au and 9.8 gpt Ag (0.45 gpt AuEq) over 88.4m including 9.1m grading 1.67 gpt Au and 20.43 gpt Ag (1.92 gpt AuEq).

The drill holes were composed of siliciously and argillically altered, lower Bisbee group fine-grained sandstones/quartzites, siltstones/hornfels cut by quartz-feldspar porphyry dikes, hydrothermal breccias and faults/fissures with quartz veining. Moderate to strong iron oxides, manganese oxides, orange to red color, and 1 to 10% oxidized pyrite sites. Hole TR24-03 had to be abandoned due to caving after crossing mine workings.

Click Here to see Figure 2: Detailed Contention Main Pit and South Extension Plan Map

- Hole TR24-04 - 0.24 gpt Au and 15.58 gpt Ag (0.38 gpt AuEq) over 123.5m, ending in mineralization and including 6.1m grading 1.74 gpt Au and 54.75 gpt Ag (2.42 gpt AuEq). This hole was oriented vertically (azimuth 0, -90) and was designed to test under the Contention main pit and for down dip extensions of mineralization under the Contention main pit east wall and to depth. The interval is composed of siliciously and argillically altered, lower Bisbee group fine-grained sandstones/quartzites, siltstones/hornfels cut by quartz-feldspar porphyry dikes, hydrothermal breccias and faults/fissures with quartz veining. Moderate to strong iron oxides, manganese oxides, orange to red color, and 1 to 5% oxidized pyrite sites.

- Hole TR24-05 0.39 gpt Au and 16.61 gpt Ag (0.60 gpt AuEq) over 114.3 m and including 10.7 m at 1.55 gpt Au and 34.6 gpt Ag (1.99 gpt AuEq). The hole was oriented azimuth 105, -60, and was designed to test for westerly and down dip extensions of mineralization under the Contention main pit west wall and to depth. The interval is composed of siliciously and argillically altered, lower Bisbee group fine-grained sandstones/quartzites, siltstones/hornfels cut by quartz-feldspar porphyry dikes, hydrothermal breccias and faults/fissures with quartz veining. Moderate to strong iron oxides, manganese oxides, orange to red color, and 1 to 5% oxidized pyrite sites.

- Hole TR24-06 - 0.39 gpt Au and 13.46 gpt Ag (0.56 gpt AuEq) over 45.7m, and 0.14 gpt Au and 6.82 gpt Ag (0.22 gpt AuEq) over 39. The hole was located at the northern end of the western edge of the Contention main pit and oriented azimuth 85, -60, and was designed to test for westerly and down dip extensions of mineralization under the Contention main pit west wall and to depth. The interval is composed of siliciously and argillically altered, lower Bisbee group fine-grained sandstones/quartzites, siltstones/hornfels cut by quartz-feldspar porphyry dikes, hydrothermal breccias and faults/fissures with quartz veining. Moderate to strong iron oxides, manganese oxides, orange to red color, and 1 to 10% oxidized pyrite sites. The drill hole had to be abandoned at 213.4m due to caving.

- Hole TR24-07 - 0.21 gpt Au and 14.12 gpt Ag (0.39 gpt AuEq) over 146.3m, ending in mineralization and including 13.7m grading 1.22 gpt Au and 57.61 gpt Ag (1.94 gpt AuEq). The hole was an 80 m step-out to the west and oriented with the general fan pattern (azimuth 105, -66) and was designed to test under the western portion of the Contention main zone and for down dip extensions of mineralization under the Contention main pit west wall and to depth. The drillhole intersected a broad zone of mineralization, open down dip to the west and on strike to the north. The interval is composed of siliciously and argillically altered, lower Bisbee group fine-grained sandstones/quartzites, siltstones/hornfels cut by quartz-feldspar porphyry dikes, hydrothermal breccias and faults/fissures with quartz veining. Moderate to strong iron oxides, manganese oxides, orange to red color, and 1 to 10% oxidized pyrite sites.

- Hole TR24-10 0.67 gpt Au and 27.64 gpt Ag (1.02 gpt AuEq) over 88.2 m and including 9.1 m at 4.23 gpt Au and 136.17 gpt Ag (5.93 gpt AuEq). Thirty-five meters lower down a second mineralized zone was encountered of 25.8m at 0.05 gpt Au and 4.96 gpt Ag (0.11 gpt AuEq). The hole was oriented azimuth 0, -90, and was designed to test for easterly and down dip extensions of mineralization from under the Contention main pit east wall and to depth. The interval is composed of siliciously and argillically altered, lower Bisbee group fine-grained sandstones/quartzites, siltstones/hornfels cut by quartz-feldspar porphyry dikes, hydrothermal breccias and faults/fissures with quartz veining. Moderate to strong iron oxides, manganese oxides, orange to red color, and 1 to 10% oxidized pyrite sites.

Contention South Extension

- TR24-16 in the South Extension Area intersected 106.4m of 147.9 gpt AgEq (76.23 gpt Ag and 0.896 gpt Au) including a bonanza 1.5m intercept of 7,269 gpt AgEq (3,669 gpt Ag and 44.7 gpt Au) within a zone of 569 gpt AgEq (18.3 opt AgEq) over 25.8 m, then 22.9m of 8.61 gpt AgEq (0.029 gpt Au and 6.29 gpt Ag, and then 12.2m of 8.38 gpt AgEq (0.029 gpt Au and 6.29 gpt Ag)

- TR24-17 in the South Extension Area intersected 22.9m at 72.86 gpt AgEq (32.98 gpt Ag and 0.499 gpt Au), 25.9m at 17.66 gpt AgEq (13.62 gpt Ag and 0.051 gpt Au) and finished the drill hole in 13.7m at 24.72 gpt AgEq (16.23 gpt Ag and 0.106 gpt Au)

The successful drilling of TR24-16 and TR24-17 in the Southern Extension of the Contention pit has confirmed the geologic model for that portion of the Contention pit and has upgraded it as a priority for future exploration. The southern end of the Contention system has yet to be defined. The importance of the Qfp dike bodies acting as conduits for the hydrothermal breccias and quartz veinlets was affirmed again. The Qfp dike bodies appear to have variations in thickness and mineralization plunging to the West. Of importance as well was discovering the strong oxidation and mineralization in TR24-16 continued to the drill hole's end at 265.3 m (229.7 m vertical) well under the eastern edge of the pit. The key limestone marker beds of the project were not intercepted in TR24-16 east of the Contention fault system and this suggests at least 70 m of down drop on the east side of the Contention fault system. The deep oxidation, alteration and mineralization of TR24-16 to its end supports the concept that the large AMT anomaly further down may be mineralized.

The drill program continued to identify pervasively oxidized and hematite-rich, silicified hydrothermal breccias composed of quartz feldspar porphyry dike and Bisbee Group clastic sedimentary fragments, typical of the material mined historically at the Contention Mine.

Additional mineralization types continued to be outlined by the current drilling including: manganese replacements in limestone beds and skarns, quartz veinlets, sulfide relicts as disseminations, silicification of altered hornfels, quartz feldspar porphyries and hydrothermal breccias. For the program, TR24-16 is

the deepest hole drilled, has an inclination of -60 degrees and was drilled to a depth of 265.3 m (229.7 m vertical) remaining in mineralized and oxidized rocks the majority of its length.

Westside Zone Discovery

- The Westside zone's first pass exploration drilling program has encountered oxide silver-gold mineralization in every drillhole to date, nearly doubling the area of drill demonstrated exploration potential from the Contention zone alone. The geologic modeling for the Westside zone was successful with blind targeting and confirmed the historic reporting of underground mine workings as well as Aztec's modeling.

- Drillhole TR24-13 intersected 24.4m of 106.24 gpt AgEq within a broader zone of 85.4m averaging 47.31 gpt AgEq (0.281 gpt Au and 24.79 gpt Ag) at shallow depth in the Westside Anticline discovering a new body of significant oxidized silver - gold mineralization

- Recent exploration, and geologic modeling in 2024, identified the features that were then drill tested for the first time in the 2024 RC program. The 2024 first pass drill results provide significant evidence for the potential for bulk mineable and underground mineralization in the area that was slated for open pit production in the early 1980s.

- Notably, the TR24-13 discovery in the Westside anticline demonstrates that anticlines in the target area can host significant oxide silver-gold mineralization, vertically in multiple zones, across the Bisbee sedimentary section without the immediate presence of Qfp intrusive dikes. In addition, the presence of the historic Sulphuret stope was confirmed. The mineralization and presence of the Arizona Queen anticline was confirmed in TR24-08.

- TR24-08 was designed to test for mineralization in the postulated easterly extension of the anticline (Arizona Queen) found in the mine workings near the Westside shaft No.1 and considered the focus for the Last Chance stope. It intercepted 6.1 m of 105.1 gpt AgEq (1.23 gpt Au and 7.0 gpt Ag) and then 0.35 gpt Au and 10.6 gpt Ag (38.75 gpt AgEq) over 21.3m. The hole was oriented azimuth 90, -80, The interval is composed of siliciously and argillically altered, lower Bisbee group fine-grained sandstones/quartzites, siltstones/hornfels cut by hydrothermal breccias and faults/fissures with quartz veining. Moderate to strong iron oxides, manganese oxides, orange to red color, and 1 to 10% oxidized pyrite sites.

- Drill holes TR24-11 and TR24-12 tested for the Westside Fissure, confirmed the historic reporting, and found widths of 16 to 25 meters of bulk tonnage grade oxide Silver-Gold mineralization surrounding the high-grade fissure. The Westside target area exploration drilling results warrant additional drilling.

- TR24-15 in the Westside zone's Tribute mine intersected 12.2m at 15.39 gpt AgEq (11.52 gpt Ag and 0.048 gpt Au) and then 25.9m at 31.82 gpt AgEq (19.48 gpt Ag and 0.154 gpt Au) in the Ingersoll Anticline.

- An important concept from the Westside Zone was the difference in precious metal tenor (the proportions/ratios for metals to each other) to more silver enriched compared to the Contention open pit target area being more gold enriched. The Westside area is more dominated by sedimentary rocks, less than 5% Qfp intrusive dikes by observed volumes, while the Contention area has ~10% Qfp intrusive dikes by observed volumes.

Table 1: Contention South Extension Drill Results (Previously Reported):

Table 2 Westside Target First Pass Drill Results (Previously Reported):

Table 3 Contention Zone Drill Results (Previously Reported):

Table 4 Drillhole Coordinates

Aztec Minerals will be participating in the following upcoming events and conferences:

February 21-23, 2025: CEM Whistler Capital Event Whistler, BC

Registration Link: https://cem.ca/conference/whistler-capital-event-2025/

February 27-28, 2025: Pre-PDAC 2025 Mining Showcase Toronto, ON

Registration Link: https://redcloudfs.com/prepdac2025/

Tombstone Project Overview

Aztec holds a 77.7% interest in the Tombstone Property Joint Venture, which includes most of the original patented mining claims in the main district as well as some recently acquired properties.

The main target of the 2024 drill program is to continue testing the shallow, bulk tonnage, potentially heap leachable, mesothermal gold-silver oxide mineralization adjacent and below the previously mined Contention pit by step-out drilling. Future drilling is expected to focus on strike and dip extensions of the shallow oxide mineralization, and move deeper to test for larger, deeper "Taylor-type" lead-zinc-silver CRD targets along and adjacent to the Contention structure.

The Tombstone project is located 100 kilometers (km) southeast of Tucson, Arizona and covers much of the historic Tombstone silver district. Tombstone is renowned for its high grade, oxidized, silver-gold mesothermal stringer lode veins, hydrothermal breccias and manto CRD orebodies that were mined in the late 1800's and early 1900's. The historic silver production in the Tombstone district from 1878 to 1939 was estimated at 32 million ounces and 250,000 ounces of gold[1].

The district geology consists of a mix of shallow-level, oxidized Au-Ag and base metal deposits related to CRD and skarns hosted in folded and thrusted sediments, intrusive dikes, and lode veins, and as well the under explored, sulfide versions located below the water table.

Host rocks to the mineralization are primarily the clastic sediments of the lowest portion of the Cretaceous Bisbee Formation. Between 50 and 300 meters (m) in depth, the Bisbee is underlain by approximately two kms thick of the same Paleozoic carbonate formations that host the 110 MT Hermosa-Taylor zinc-lead-silver deposit of South32 located 60 km southwest of Tombstone[2].

Aztec believes that the historic silver mines at Tombstone could be related to a much larger mesothermal system with CRD mineralization below the old mines. Since 2017, Aztec has completed geological mapping, geochemical sampling and geophysical surveying to identify the most prospective areas for Au-Ag mineralization around and below the Contention open pit, and CRD zinc-lead-copper-silver-gold mineralization below the entire district. Aztec management views the district as highly prospective for the discovery of mesothermal and CRD mineralization.

Note: Gold equivalents are calculated using a 80:1 silver:gold ratio in 2020, 2023 and 2024, and a 70:1 silver:gold ratio in 2021. Reported lengths are apparent widths, not true widths. The Contention Au-Ag mineralization zones are generally west dipping at around 60-80 degrees, associated with the quartz-feldspar porphyry dikes and hydrothermal breccias. However, these dikes also extend as sills in shallow angles out from the Contention fault along fold noses in the Bisbee clastic sediments so the full range of mineralization dips vary from 20 to 80 degrees. True widths for the apparent mineralization intersection widths of the drill holes approximately range from 50 to 100% of the apparent widths, with the norm for the mineralized true widths being 60 to 90% of the apparent widths. Please see summary news releases dated: July 5, 2023, December 7, 2021, and January 12, 2021. Assumed economic cutoffs for reporting of 0.1 gpt Au and 8 gpt Silver.

Summary Tombstone Project Highlights

- Well located property on patented (33) and unpatented (42) claims (452.02 hectares/1,116.94 acres), covers much of the historic Tombstone silver mining district, great infrastructure, local town, road access, full services, water, power

- Historic silver district produced 32 million ounces of silver and 250,000 ounces of gold from 1878-1939, in high grade, oxidized, silver-gold-lead-zinc-copper vein, breccia and CRD deposits, and small open pit heap leach production in late 1980's

- Drilling by Aztec in 2020-23 has demonstrated that the Contention Pit target has significant, shallow. oxidized Au-Ag bulk tonnage mineralization which is open in all directions

- Multiple other prospective targets in Cretaceous and Paleozoic rocks related to major NW and NNE trending structures hosting porphyritic intrusions crosscutting a possible caldera ring structure

The following are highlights of recent drilling intersections supporting the conceptual exploration model for mineralized footprint growth.

- TR21-22: 2.44 gpt Au and 66.56 gpt Ag (3.39 gpt AuEq) over 65.5m (including 16.80 gpt Au and 374.36 gpt Ag over 7.6m)

- TR21-03 - 5.71 gpt Au and 40.54 gpt Ag (6.28 gpt AuEq) over 32.0m

- TC 23-01: 3,477 gpt Ag over 1.52m from a zone of 733.9 gpt Ag over 7.6 m within 125 m of 1.63 gpt AuEq

- TR21-10: 1.39 gpt Au and 56.40 gpt Ag (2.20 gpt AuEq) over 96.0m

- TR21-13: 1.8 gpt Au and 36.9 gpt Ag (2.33 gpt AuEq) over 70.1 m

- TR21-17: 1.73 gpt Au and 56.20 gpt Ag (2.53 gpt AuEq) over 64.0m

- TR21-08: 2.09 gpt Au and 47.1 gpt Ag (2.76 gpt AuEq) over 39.6m

- Hole TC2302 1.69 gpt gold and 29.07 gpt silver (2.03 gpt gold AuEq) over 45.3 m, including 10.1 m grading 6.63 gpt gold and 72.81 gpt silver (7.49 AuEq)

- TC23-05 2.816 gpt gold and 176.64 gpt silver (5.02 gpt AuEq) over 36.0 m, including 6.45 gpt gold and 408.47 gpt silver (11.554 gpt AuEq) over 15.5 m

- TR24-10 0.672 gpt gold and 27.64 gpt silver (81.36 gpt AgEq) over 88.2 m, including 4.23 gpt Au and 136.17 gpt Ag (5.93 gpt AuEq) over 9.1m

- TR24-16 - 0.896 gpt gold and 76.23 gpt silver (147.9 gpt AgEq) over 106.4m, including a bonanza 1.5m intercept of 3,669 gpt Ag and 44.7 gpt Au (7,269 gpt AgEq) within a zone of 3.483 gpt Au and 290.51 gpt Ag (569 gpt AgEq = 18.3 opt AgEq) over 25.8 m, then 22.9m of 0.029 gpt Au and 6.29 gpt Ag (8.61 gpt AgEq), and then 12.2m of 0.029 gpt Au and 6.29 gpt Ag (8.38 gpt AgEq)

The company uses quality assurance-quality control as part of its sampling-assaying-assessments in conjunction with its exploration sampling programs. Samples and their collection are controlled by an industry standard conforming QAQC program including insertions of certified standards, blanks and sample duplicates. The samples are being regularly shipped to and received by the Bureau Veritas Minerals laboratory in Hermosillo, Mexico for geochemical analysis.

Core and RC drilling samples are continuously collected over 5-foot (1.52m) sample intervals from all drill holes. The samples were analyzed for gold with a 30-gram sample size using the fire assay method FA430 followed by multi-element MA300, including silver. Over limits, when present, are analyzed by MA370 or FA530. All holes contain certified blanks, standards, and duplicates as part of the quality control program.

*Aztec has not verified these historic drill results and is not relying on them. Aztec has in its possession the historic drill logs, maps and reports but does not have any information on the quality assurance or quality control measures taken in connection with these historical exploration results.

Allen David Heyl, B.Sc., CPG., VP Exploration of Aztec, is the Qualified Person under NI43-101, supervised the Tombstone exploration programs. Mr. Heyl has reviewed and approved the technical disclosures in this news release.

"Simon Dyakowski"
Simon Dyakowski, Chief Executive Officer
Aztec Minerals Corp.

About Aztec Minerals Aztec is a mineral exploration company focused on two emerging discoveries in North America. The Cervantes project is an emerging porphyry gold-copper discovery in Sonora, Mexico. The Tombstone project is an emerging gold-silver discovery with high grade CRD silver-lead-zinc potential in southern Arizona. Aztec's shares trade on the TSX-V stock exchange (symbol AZT) and on the OTCQB (symbol AZZTF).

Contact Information - For more information, please contact:

Simon Dyakowski, President & CEO, Director
Tel: (604) 685-9770
Fax: (604) 685-9744
Email: info@aztecminerals.com

Website: www.aztecminerals.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Forward-Looking Statements:

This news release contains "forwardlooking information or statements" within the meaning of applicable securities laws, which may include, without limitation, completing ongoing and planned work, statements relating to advancing the Tombstone Project, drill and sampling results including additional potential work and results therefrom, the Company's plans for its Tombstone Project, potential for further expansion of the mineralization at the Tombstone Project, expected results and outcomes, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses, and those filed under the Company's profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to obtain or maintain community acceptance (including First Nations), decrease in the price of gold, silver and other metals, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forwardlooking statements or forwardlooking information, except as required by law.

[1] Greeley, Michael N., A Brief History and Review of Ore Grades and Production in the Tombstone Mining District with Emphasis on the Contention Mine Area, June 1984

[2] M3 Engineering and Technology Corp., Hermosa Project N.I. 43-101F1 Pre-Feasibility Study, January 2014