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AZT.V ·

Aztec Minerals Extends Term of Warrants

Share Capital & Compensation

PO Box 10328 T: 604-685-9770

Suite 1130 – 609 Granville Street www.aztecminerals.com

Vancouver, BC V7Y 1G5

Aztec Minerals Extends Term of Warrants

Vancouver, Canada – October 5, 2018 - Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) (“Aztec”) has

applied to the TSX Venture Exchange to extend the term of an aggregate of 2,551,250 common share

purchase warrants by one year from October 21, 2018 to October 21, 2019. The warrants were issued

pursuant to a non -brokered private placement that closed on October 21, 2016 six months prior to the

IPO. Each Warrant entitles the holder to acquire one common share in the capital of Aztec at an exercise

price of $0.25 per common share until October 21, 2018. An aggregate of 23,750 warrants have been

exercised to date and 550,000 warrants are held, directly or indirectly, by insiders of the Company. The

extension of the term of the Warrants for an additional year is subject to the acceptance of the Exchange.

About Aztec Minerals – Aztec is a mineral exploration company focused on the discovery of large porphyry

gold-copper deposits in the Americas. Our first project and core asset is the prospective Cervantes gold -

copper property in Sonora, Mexico. The second project is the district-scale historic Tombstone properties

in Cochise County, Arizona. Aztec’s shares trade on the TSX-V stock exchange under the symbol AZT and

on the OTCQB under the symbol AZZTF.

Contact Information - For more information, please contact:

Neil MacRae, Vice President, Investor Relations

Tel: (604) 685-9770

Fax: (604) 685-9744

Email: [email protected]

Website: www.aztecminerals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture

Exchange) 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.

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward -looking statements” within the meaning of the United States Private Securities Litigation

Reform Act of 1995 and “forward -looking information” within the me aning of applicable Canadian securities legislation. Such

forward-looking statements and information herein include but are not limited to statements regarding the extension of the term

of the Warrants and the Exchange’s acceptance of the Company’s applica tion to extend the term of the Warrants. The Company

does not intend to, and does not assume any obligation to update such forward-looking statements or information, other than as

required by applicable law.

Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the

actual results, level of activity, performance or achievements of Aztec and its operations to be materially different from th ose

expressed or implied by such statements. Such fa ctors include, among others, changes in national and local governments,

legislation, taxation, controls, regulations and political or economic developments in Canada and the United States; financial risks

due to precious and base metals prices, operating or technical difficulties in mineral exploration, development and mining

activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration a nd

development, risks in obtaining necessary licenses and permits, and challenges to the Company’s title to properties.

PO Box 10328 T: 604-685-9770

Suite 1130 – 609 Granville Street www.aztecminerals.com

Vancouver, BC V7Y 1G5

Forward-looking statements are based on assumptions management believes to be reasonabl e, including but not limited to the

continued operation of the Company’s exploration operations, no materi al adverse change in the market price of commodities,

and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that

could cause actual results to differ materially from those contained in fo rward-looking statements or information, there may be

other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intende d.

There can be no assurance that any forward -looking statements or informati on will prove to be accurate as actual results and

future events could differ materially from those anticipated in such statements or information. Accordingly, readers should n ot

place undue reliance on forward-looking statements or information.