Aztec Step-Out Drilling Extends Oxide Au/Ag Zone on Strike to +1km at Tombstone Project, Arizona; Drills 44.1m of 1.16 gpt Au and 77.7 gpt Ag (159.0 gpt AgEq) including 3.04 m of 7.5gpt Au & 465.5 gpt Ag (990.8 gpt AgEq)
PO Box 55 T: 604-685-9770
Suite 1030 – 505 Burrard Street www.aztecminerals.com
Vancouver, BC V7X 1M5
Aztec Step-Out Drilling Extends Oxide Au/Ag Zone on Strike to +1km
at Tombstone Project, Arizona; Drills 44.1m of 1.16 gpt Au and 77.7
gpt Ag (159.0 gpt AgEq) including 3.04 m of 7.5gpt Au & 465.5 gpt Ag
(990.8 gpt AgEq)
• Strong oxide gold silver results from step-out drilling in the Southern portion of the
Contention Target Area extend the Au/Ag Zone on strike to over 1km
• Drill hole TR25-31 intersected 44.1 meters averaging 158.97 gpt AgEq (77.7 gpt Ag and
1.161 gpt Au) including 3.0 m averaging 990.78 gpt AgEq (465.5 gpt Ag and 7.504 gpt
Au)
• Drill hole TR25-27 intersected 51.7m averaging 72.7 gpt AgEq (42.87 gpt Ag and 0.427
gpt Au)
• Drill hole TR25-28 intersected 62.3m averaging 41.3 gpt AgEq (28.7 gpt Ag and 0.18 gpt
Au) from surface
• 45 RC holes have now been drilled in the 2025-2026 drill program with 15 RC holes
pending release as the campaign continues
• Core hole TC25-04 continues to be drilled to depth, penetrating the southern NSAMT
(natural source audio-frequency magneto-telluric) target
Vancouver, Canada – January 27, 2026 - Aztec Minerals Corp. (AZT: TSX -V, OTCQB: AZZTF) (“Aztec” or
the “Company”) announces it has received the results from an additional five 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 48 combined RC and core drill holes. The
results from 5 RC holes drilled in the historic southern Contention Mine Area of the Contention Target are
announced herein. The successful drilling of the step out drill holes south of the previous “South Spoke”
Target of the Contention pit are a significant milestone indicating a much larger N -S strike extend of
Mineralization than had previously been demonstrated by drilling. The strong, wide, shallow oxide gold-
silver intersections have extended the Ag/Au zone from the northern property limit to now over 1km N-S
on strike. Pending drill results include additional Southern Extension drill targets as well as several step
out targets drilled in the immediat e, westerly extension of the North Contention zone and first pass
targets in the Westside Area zone.
Highlights from the RC drilling reported from the southern portion of the Contention Target include:
• RC drill hole TR25-31 was collared in the center of the southern portion of the Contention Target
area and intersected 44.1 meters of oxidized mineralization averaging 158.97 gpt AgEq (77.7
gpt Ag and 1.161 gpt Au) including 3.0 m averaging 990.78 gpt AgEq (465.5 gpt Ag and 7.504
gpt Au) and also 25.8 meters from the collar averaging 17.05 gpt AgEq (13.48 gpt Ag and 0.051
gpt Au)
• TR25-27 was collared north of the center of the southern portion of the Contention Target area
and intersected two zones of oxidized mineralization, from surface 51.7 meters averaging 72.74
gpt AgEq (42.87 gpt Ag and 0.427 gpt Au) and then from 62.3 m to 86.6 m (TD) 24.3 meters
averaging 109.15 gpt AgEq (85.94 gpt Ag and 0.332 gpt Au) . The drill hole intersected two
notably mineralized zones totaling 76 meters along its 86.6m length (87.8% mineralized)
• Drill hole TR25-28 was collared adjacent to TR25-27 testing deeper, north of the center of the
southern portion of the Contention Target area and it intersected two zones of oxidized
mineralization, from surface 62.3 meters averaging 41.26 gpt AgEq (28.69 gpt Ag and 0.18 gpt
Au) and then from 97.3 m to 112.5 m 15.2 meters averaging 13.71 gpt AgEq (11.15 gpt Ag and
0.037 gppt Au). The drill hole intersected 77.5m of notably mineralization in the first 112.5m
(68.8% mineralized) from surface
All of the five RC drillholes intersected Ag -Au mineralization and expanded the southern portion of the
Contention target area extent s to the west, south 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 TR25-31 showing Ag and Au assay results.
Tombstone 2025-2026 Drilling Plan Completed and Pending
Figure 1. Plan map showing drill hole collars and Au Eq. calculations from the 2025-2026 drill campaign at the Tombstone Property,
southeastern Arizona.
Core Drilling Update
The core drilling portion of the program in 2026 continues to advance the drill hole TC25-04 targeting the
large, southern NSAMT target. Currently it is at 714.3 m depth within the upper portion of the NSAMT
target. Increasing frequency of intersections of hydrothermal breccias, skarning and occasional “B-type”
porphyry veinlets have been observed with depth. 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 into at depth the previously identified southern AMT target in the Lower
Cretaceous sedimentary Bisbee formation’s hornfels and quartzites and is advancing towards 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.
The continued, successful drilling of the Contention pit area was supported by Aztec’s 3D geologic and
underground workings 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 TR25-27 – Was collared north of the center of the southern portion of the Contention Target
area to test the Grand Central portion of the Contention system. It was drilled westerly and to a
depth of 58 meters. The drill hole intersected two zones of oxidized mineralization, from surface
51.7 meters averaging 72.74 gpt AgEq (42.87 gpt Ag and 0.427 gpt Au) and then from 62.3 m to
86.6 m (TD) 24.3 meters averaging 109.15 gpt AgEq (85.94 gpt Ag and 0.332 gppt Au) . The
drillhole leaves the mineralization open to depth and to the west.
• Hole TR25-28 – Was collared adjacent to TR25-27 as a fan to TR25-27, north of the center of the
southern portion of the Contention Target area to test the Grand Central portion of the
Contention system. It was drilled westerly and to a depth of 170 meters. The drill hole intersected
two zones of oxidized mineralization, from surface 62.3 meters averaging 41.26 gpt AgEq (28.69
gpt Ag and 0.18 gpt Au) and then from 97.3 m to 112.5 m, 15.2 meters averaging 13.71 gpt AgEq
(11.15 gpt Ag and 0.037 gppt Au). The drillhole leaves the mineralization open to depth and to
the west.
• Hole TR25-29 – Was collared south of the center of the southern portion of the Contention Target
area to test the Grand Central portion of the Contention system. It was drilled westerly and to a
depth of 127 meters. The drill hole intersected two zones of oxidized mineralization, from surface
13.7 meters averaging 10.36 gpt AgEq (6.2 gpt Ag and 0.059 gpt Au) and then from 115.5 m to
141.3 m, 25.8 meters averaging 111.22 gpt AgEq (68.07 gpt Ag and 0.616 gpt Au). The drillhole
leaves the mineralization open to depth and to the west.
• Hole TR25-30 – Was collared in the south end of the southern portion of the Contention Target
area to test the Grand Central portion of the Contention system. It was drilled westerly and to a
depth of 135 meters. The drill hole intersected one zone of oxidized mineralization, from 112.5 to
121.6 meters, 9.1 meters averaging 15.55 gpt AgEq (13.65 gpt Ag and 0.027 gpt Au). The drillhole
leaves the mineralization open to depth and to the west.
• Hole TR25-31 – Was collared south of the center of the southern portion of the Contention Target
area to test the Grand Central portion of the Contention system. It was drilled westerly and to a
depth of 117 meters. The drill hole intersected two zones of oxidized mineralization, from surface
25.8 meters averaging 17.05 gpt AgEq (13.48 gpt Ag and 0.051 gpt Au) and then from 94.2 m to
138.3 m, 44.1 meters averaging 158.97 gpt AgEq (77.7 gpt Ag and 1.1 61 gpt Au), including 3.0
meters from 126.2 to 129.2 meter s of 990.78 gpt AgEq (465.5 gpt Ag and 7.504 gpt Au) . The
drillhole leaves the mineralization open to depth and to the west.
View drill sections here:
Link to section view holes TR25-27/28
Link to section view hole TR25-29
Link to section view hole TR25-30
Link to section view hole TR25-31
Table 1A: Drill Results Currently Reported
Drill Hole From
(m)
To
(m)
Interval
(m)*
Au
(gpt)
Ag
(gpt)
Ag Eq (gpt)
(1) Comments
TR25-27 0.0 51.7 51.7 0.427 42.87 72.74 Void at 22.8-25.8m
62.3 86.6 24.3 0.332 85.94 109.15 Void at 74.5-79.0m
TR25-28 0.0 62.3 62.3 0.18 28.69 41.26 Void at 36.5-38.0m
97.3 112.5 15.2 0.037 11.15 13.71
TR25-29 0.0 13.7 13.7 0.059 6.2 10.36
115.5 141.3 25.8 0.616 68.07 111.22
TR25-30 112.5 121.6 9.1 0.027 13.65 15.55
TR25-31 0.0 25.8 25.8 0.051 13.48 17.05
94.2 138.3 44.1 1.161 77.7 158.97 Void at 95.7-98.8m
Including: 126.2 129.2 3.0 7.504 465.5 990.78
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 in 2023 and 2024, and a 70:1 silver:gold ratio in 2021.
The 45 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 (714.3 m) testing the southern 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
Drill Hole From
(m)
To
(m)
Interval
(m)*
Au
(gpt)
Ag
(gpt)
Ag Eq (gpt)
(1) Comments
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
Including: 16.7 21.8 4.6 58.5 173.13 4268.13
174.8 197.6 22.8 0.323 8.25 30.84
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
Drill Hole From
(m)
To
(m)
Interval
(m)*
Au
(gpt)
Ag
(gpt)
Ag Eq (gpt)
(1) Comments
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
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
*Final results reported Jan 7, 2026,
preliminary results Nov 4, 2025
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 in 2023 and 2024, and a 70:1 silver:gold ratio in 2021.
Table 2 – Drillhole Coordinates
Drill Hole UTM East UTM North Azimuth Inclination Total Depth (m)
TC25-01 588540 3507254 82 65 182.9*
TR25-02a 588721 3507513 120 65 158.5*
TC25-02 588716 3507534 125 60 286.0
TR25-01 588618 3507105 106 60 189.0
TR25-02 588722 3507589 140 75 193.6
TR25-03 588721 3507586 140 50 152.4
TR25-04 588524 3507933 120 60 201.2
TR25-05 588826 3507637 90 60 164.6
TR25-06 588825 3507637 0 90 170.7
TR25-07 588647 3507948 105 60 225.6
TR25-08 588639 3507848 105 65 193.5
TR25-09 588636 3507894 105 60 274.4
TR25-10 588833 3507673 90 45 79.3
TR25-11 588831 3507673 90 70 137.2
TR25-12 588793 3507599 104 65 137.2
TR25-13 588681 3507534 104 65 193.6
TR25-14 588792 3507753 115 50 134.1
TR25-15 588793 3507572 105 65 152.4
TR25-16 588859 3507946 104 63 195.1
TR25-17a 588872 3507989 105 65 30.4
TR25-17 588874 3507992 104 65 192.0
TR25-18 588427 3507861 104 60 182.4
TR25-19 588414 3507712 90 60 158.1
TR25-20 588403 3507710 90 75 182.4