Aztec Drills 48.6m of 133.1 gpt AgEq from surface at Tombstone Project, Arizona and Expands Drill Program by 3,500m
PO Box 55 T: 604-685-9770
Suite 1030 – 505 Burrard Street www.aztecminerals.com
Vancouver, BC V7X 1M5
Aztec Drills 48.6m of 133.1 gpt AgEq from surface at Tombstone
Project, Arizona and Expands Drill Program by 3,500m
• Drillhole TR25-26 intersected 48.6 meters averaging 133.1 gpt AgEq (58.93 gpt Ag and
1.06 gpt Au) from surface
• TR25-24 intersected 152.4m averaging 19.81 gpt Ag and 0.236 gpt Au from surface
• Drillhole TR25-25 intersected five mineralized zones totaling 121.6 meters along its
252.3 meter length, including 48.6 meters averaging 6.79 gpt Ag and 0.106 gpt Au
• Drilling program has been expanded by 3,500 meters as results continue to
demonstrate the oxidized Ag-Au mineralization has broad continuity to depth, to the
east and west
• 42 holes have now been drilled in the expanded 2025-2026 drill program with 12 RC
holes pending release as the campaign continues
• Core hole TC25-04 continues to be drilled to depth, targeting the southern NSAMT
(natural source audio-frequency magneto-telluric) target
Vancouver, Canada – January 15, 2026 - Aztec Minerals Corp. (AZT: TSX -V, OTCQB: AZZTF) (“Aztec” or
the “Company”) announces it has received the results from an additional nine RC drill holes from its
reverse circulation (“RC”) portion of the 2025 drilling program at the Tombstone Property in Southeastern
Arizona. The 2025-2026 drilling program has now completed 42 RC drill holes and one core hole . The
results from 9 RC holes drilled in the historic Contention Mine Area of the Contention Target are
announced herein.
Highlights from the RC drilling reported from the western , central and northern sides of the main
Contention Target include:
• RC drill hole TR25-26 was collared as a northerly offset to TR25 -17 in the center of the northern
Contention mine area:
o Intersected 48.6 meters of 133.1 gpt AgEq (58.93 gpt Ag, 1.06 gpt Au) from surface
• TR25-24 was collared in the central portion of the Contention area and was a long, continuous
intersection of oxidized mineralization:
o 152.4 meters averaging 3 6.32 gpt AgEq (0.2 36 gpt Au, 19.81 gpt Ag), from the collar
including 10.6 meters of 212.35 gpt AgEq (81.41 gpt Ag, 1.871 gpt Au) and 4.6 meters of
176.57 gpt AgEq (92.8 gpt Ag, 1.197 gpt Au)
• Drill hole TR 25-25 was collared on the western side of the northern main Contention area and
tested easterly and to depth in the target area
o Five zones of Ag-Au mineralization were intersected totaling 121.6 m in its 252.3 meter
length including 48.6 m of 14.19 gpt AgEq (6.79 gpt Ag, 0.106 gpt Au)
o Over 48% of the drillhole’s length was composed of mineralized intersections.
Eight of the nine RC drillholes intersected Ag -Au mineralization and expanded the target area extent to
the west, east and to depth. The majority of the intercepts show broad continuity of mineralization. All
reported intersection lengths are apparent widths of mineralization, not true widths, which can range at
the property from 30% to 100% of apparent widths.
Figure 1. Cross section of RC drill hole TR25-26 showing Ag and Au assay results.
Drilling Program Expansion
The Company also announced that the Tombstone Property JV Management Committee met recently and
approved an expansion of the drill program from 8,500 meters to 12,000 meters. The expanded program
comprises of 9,500 meters of RC and a minimum of 2,500 meters of core drilling.
Core Drilling Update
The core drilling portion of the program in 2026 continues to advance the drill hole TC25-04 targeting the
large, southern AMT target. Currently it is at 444.5 m depth with the top of the AMT target estimated to
be a further 80 m below. Sporadic intersections of hydrothermal breccias and “B-type” porphyry veinlets
have been observed. The RC precollar portion of 91 meters from this drill hole have been shipped to the
analytical laboratory for geochemical analysis.
The core rig is continuing to test to depth the previously identified southern AMT target under the Bisbee
formation in the thick Paleozoic carbonate formations below. Aztec has previously identified several
large, strong, conductive bodies, underneath the historic gold -silver district through NSAMT (natural -
source audio-frequency magneto-telluric surveys) anomalies1.
Tombstone 2025-2026 Drilling Plan Completed and Pending
Figure 2. Plan map showing drill hole collars and traces from the 2025-2026 drill campaign at the Tombstone Property,
southeastern Arizona.
The continued, successful drilling of the Contention pit area was supported by Aztec’s 3D geologic and
underground working model that was constructed to assist in targeting potential expansion of the
Contention system. The overall Contention system has yet to be defined and marks the confluence of
other mineralized zones including the Westside Anticline.
Detailed Drillhole Summary Highlights (see Table 1 & 2 below):
• Hole TR25-18 – Was collared in the central portion of the Westside area to test notable veining
structures and prospects. It was drilled easterly and to a depth of 182.4 meters. It intersected a
9.1m zone of 65.81 gpt AgEq (0.245 gpt Au, 48.47 gpt Ag). The drillhole leaves the mineralization
open in all directions and to depth.
• Hole TR25-19 – Was collared in the central portion of the Westside area to test notable veining
structures and prospects south of TR25-18. It was drilled easterly and to a depth of 158.1 meters.
It intersected a 16.7m zone of 11.95 gpt AgEq (0.057 gpt Au, 7.94 gpt Ag). The drillhole leaves the
mineralization open in all directions and to depth.
• Hole TR25-20 – Was collared in the central portion of the Westside area to test notable veining
structures and prospects west of TR25-19. It was drilled easterly and to a depth of 182.4 meters.
It had no notable mineralized intersections and closes the mineralization found in TR25-19 to the
west.
• Hole TR25-21 – Was collared on the central portion of the Westside anticline. It was designed to
test continuity of the mineralization across the anticline to the south and to depth. It was drilled
to a depth of 194.5 meters. It intersected two notable m ineralized zones, at 83.6 – 91.2 a 7.6m
zone of 26.21 gpt AgEq (0.143 gpt Au, 18.25 gpt Ag), and at 100.3 m – 126.1 a 25.8 m zone of
25.53 gpt AgEq (0.112 gpt Au, 15.73 gpt Ag). The drillhole leaves the mineralization open to all
directions and to depth.
• Hole TR25-22 – Was collared in the central portion of the main Contention area. It was designed
to test continuity of the mineralization to the east and to depth of the eastern main Contention
area. It was drilled easterly and to a depth of 150.5 meters. It intersected two mineralized zones,
at 0.0 - 16.7m, a 16.7 m zone of 18.56 gpt AgEq (0.162 gpt Au, 7.25 gpt Ag), a 9.1m (60.8 – 69.9m)
a zone of 10.96 gpt Ag Eq (0.067 gpt Au, 6.23 gpt Ag). The drillhole leaves the mineralization open
to the east and to depth.
• Hole TR25-23 – Was collared in the central portion of the main Contention area west of TR25-22.
It was designed to test continuity of the mineralization to the east and to depth of the eastern
main Contention area. It was drilled easterly and to a depth of 133.7 meters. It was stopped due
to hole stability. It intersected three mineralized zones, at 0.0 - 16.7m, a 16.7m zone of 18.56 gpt
AgEq (0.162 gpt Au, 7.25 gpt Ag), 7.6m (22.8 – 30.4m) of 20.34 gpt Ag Eq (0.112 gpt Au, 12.48 gpt
Ag), and 10.6m (118.6 – 129.2m) of 7.15 gpt AgEq (0.029 gpt Au, 5.07 gpt Ag). The drillhole leaves
the mineralization open to the west and to depth.
• Hole TR25-24 - Collared in the central portion of the Contention Target and was drilled to depth
155.0 m. It was designed to test continuity of the mineralization at a high angle to test the lower
portion of the eastern main Contention area. It intersected a long, contin uous zone of Ag -Au
mineralization of 152.4 m of 36.32 gpt AgEq (0.236 gpt Au, 19.81 gpt Ag), from it’s collar including
10.6 meters of 212.35 gpt AgEq (81.41 gpt Ag, 1.871 gpt Au) and 4.6 meters of 176.57 gpt AgEq
(92.8 gpt Ag, 1.197 gpt Au). The drillhole leaves the mineralization open to the east and to depth.
• Hole TR25-25 – Collared on the western side of the northern main Contention area and tested
easterly and to depth in the target area. Five zones of Ag -Au mineralization were intersected
totaling 121.6 m in its 252.3 meter length including 48.6 m of 14.19 gpt AgEq (6.79 gpt Ag, 0.106
gpt Au). Over 48% of the drillhole’s length was composed of mineralized intersections in the
western side of the northern main Contention area. The drillhole leaves the mineralization open
to the west and to depth.
• Hole TR25-26 - Collared as a northerly offset to TR25-17 in the center of the northern Contention
mine area. It intersected 48.6 meters of 133.1 gpt AgEq (58.93 gpt Ag, 1.06 gpt Au) from surface.
It also intersected at depth 10.6 m (130.7 – 141.3 m) with 8.34 gpt AgEq (4.06 gpt Ag, 0.061 gpt
Au). The drillhole leaves the mineralization open to depth and to the east.
View drill sections here:
Link to section view hole TR25-19/20
Link to section view hole TR25-21
Link to section view holes TR25-22/23/24
Link to section view hole TR25-25
Link to section view hole TR25-26
Table 1A: Drill Results Currently Reported
Drill Hole From
(m)
To
(m)
Interval
(m)*
Au
(gpt)
Ag
(gpt)
Ag Eq (gpt)
(1) Comments
TR25-18 22.8 31.9 9.1 0.245 48.67 65.81
TR25-19 0.0 16.7 16.7 0.057 7.94 11.95
TR25-20 No reportable results
TR25-21 83.6 91.2 7.6 0.143 16.2 26.21
100.3 126.1 25.8 0.112 15.73 23.53 Void at 114-115.5m
TR25-22 16.7 21.3 4.6 0.083 4.43 10.22
60.8 69.9 9.1 0.067 6.23 10.96
TR25-23 0.0 16.7 16.7 0.161 7.25 18.56
22.8 30.4 7.6 0.112 12.48 20.33
118.6 129.2 10.6 0.03 5.07 7.15
TR25-24 0.0 152.4 152.4 0.236 19.81 36.32 Void at 28.9-38.9m
Including: 3.0 13.6 10.6 1.871 81.41 212.35
50.1 54.7 4.6 1.197 92.8 176.57
TR25-25 0.0 6.1 6.1 0.186 11.5 25.56
36.5 48.7 12.2 0.042 5.39 8.32
111.0 159.6 48.6 0.106 6.79 14.19 3 Voids at 114-115.5m, 124.6-126.1,
147.4-149
Drill Hole From
(m)
To
(m)
Interval
(m)*
Au
(gpt)
Ag
(gpt)
Ag Eq (gpt)
(1) Comments
171.8 203.7 31.9 0.139 8.65 18.36
225.0 247.8 22.8 0.192 15.15 28.6
TR25-26 0.0 48.6 48.6 1.06 58.93 133.13
130.7 141.3 10.6 0.061 4.06 8.34
Note 1: Gold and Silver equivalents are calculated using a 70:1 silver:gold ratio for holes reported since November
2025, 90:1 in 2025 prior to November, 80:1 2023 and 2024, and a 70:1 silver:gold ratio in 2021.
The 42 RC drill holes in the current program completed to date primarily are part of a “fan grid pattern”
being drilled in the Contention area since 2020. Most of the RC drill holes are oriented to test for
extensions on the western, eastern borders, the southern extensions, and underneath the north-trending
main Contention target zone which hosts the historic underground and open pit Contention mine. One
RC drill hole tested a projected dike and fissure vein intersection under mineralized outcrops and historic
shafts. The drill program has continued to identify to depth and horizontally 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 continue d to be outlined by the current drilling including: manganese
replacements in limestone beds and skarns, quartz veinlets, oxidized sulfide relicts as disseminations,
silicification of altered hornfels, quartz feldspar porphyries and hydrothermal breccias. For the 2025
program, TR25-09 is the deepest RC hole drilled, it has an inclination of -60 degrees and was drilled to a
depth of 274.4m (237.7 m vertical) remaining in mineralized and oxidized rocks most of its length.
The drilling results show ed that the Contention area mineralization is still open at depth and the
mineralized volume is expanding.
2025-2026 RC and Core Drill Program
The RC drilling program is targeting shallow zones associated with surface exploration and 3D geological
modelling, prospective for wide oxide gold -silver mineralization, and drilling pre -collars for the deeper
CRD targets. The drill program has completed 2 RC drill holes since the start of 2026, focusing on testing
both the Contention Main and Southern Extension areas as step out targets and Westside Area first pass
targets, with results from the first 29 holes now announced. Initial assay results continue to validate the
oxide gold-silver geological setting as outlined in Aztec’s geological exploration model. One core hole
(TC25-03) has been successfully completed to target depth in the northern portion of the project and
another (TC25 -04) is currently being advanced (444.5 m) to test the southern AMT target and it is
anticipated to have to advance another 80 m to reach the top of the AMT target.
The primary objectives of the 2025 drilling program were to: Expand the known mineralization
horizontally to the west, north and south, and down dip beyond the holes drilled by Aztec in 2020 -24 at
the Contention Pit with step outs to enlarge the shallow, broad, bulk tonnage gold -silver mineralization
discovered there; test by core drilling the initial deep CRD targets and also, to explore with first pass
drilling new targets identified in the Westside area.
Table 1B: Tombstone 2025 Previously Reported Results
Drill Hole From
(m)
To
(m)
Interval
(m)*
Au
(gpt)
Ag
(gpt)
Ag Eq (gpt)
(1) Comments
TC25-01 105.1 128.0 22.9 0.18 23.0 39.4
TR25-02a 73.1 135.6 62.5 0.24 19.4 40.7
TR25-01 No results with values of
interest
TR25-02 68.6 97.5 29.0 0.19 10.4 27.6
123.4 158.5 35.1 0.05 8.7 11.8
182.9 192.0 9.1 0.08 5.4 12.9
TR25-03 67.0 117.3 50.3 0.41 53.0 89.7
Including: 88.4 94.5 6.1 2.26 253.0 456.6
TR25-04 185.4 188.5 3.04 0.11 27.05 37.17
196.1 199.1 3.04 0.18 6.15 22.35
TR25-05 3.04 50.2 47.1 0.55 36.36 85.46
Including: 19.8 24.3 4.6 3.91 238.73 590.42
TR25-06 35.0 44.1 9.1 0.14 13.95 26.13
76.0 104.9 28.9 1.99 70.83 250.22 Stope for 6 m
Including: 83.6 86.6 3.0 17.7 556.5 2149.5
112.5 135.3 22.8 0.07 5.06 11.38
TR25-07 42.6 56.2 13.7 0.14 10.37 22.64
68.4 79.0 10.6 0.15 3.80 17.45
103.4 121.6 18.2 0.07 2.92 9.31
171.8 212.8 41.0 0.12 5.39 15.89
TR25-08 48.6 60.8 12.2 0.68 94.47 155.78
47.1 121.6 74.5 0.18 19.85 36.45
156.6 188.5 31.9 0.09 6.04 13.72
TR25-09 12.1 24.3 12.2 0.017 9.49 15.24
51.7 85.1 33.4 0.312 12.1 33.92
109.4 273.6 164.2 0.014 7.31 16.74 TD in mineral
TR25-10 0.0 72.9 72.9 0.192 14.92 28.37
Including: 21.3 31.9 10.6 0.485 36.71 70.65
TR25-11 0 88.2 88.2 0.033 11.2 13.53
107.9 115.5 7.6 0.453 2.78 34.49
TR25-12 0 6.1 6.1 0.041 15.1 17.94
72.9 112.5 39.5 0.023 6.06 7.87
153.5 162.6 9.1 0.043 4.03 7.04
TR25-13 155.0 167.2 12.2 0.045 11.78 14.92
TR25-14 21.3 109.4 86.6 0.214 23.19 38.17
Including: 36.5 51.7 15.2 0.811 61,68 118.42
124.6 133.7 9.1 0.032 8.38 10.6
TR25-15 0 27.4 27.4 0.78 12.37 17.83
85.1 104.9 19.7 0.041 7.07 9.96
TR25-16* 16.7 66.9 50.2 0.72 50.76 92.39 Stope for 6.7 m
152 161.1 9.1 0.921 32.27 96.73
TR25-
17A* 12.2 22.8 18.2 1.00 10.96 80.95 Bottomed in stope
TR25-17* 9.1 66.9 57.8 5.16 39.12 400.10