Shareholder Update: Review of 2024 and Outlook for 2025
PO Box 55 T: 604-685-9770
Suite 1030 – 505 Burrard Street www.aztecminerals.com
Vancouver, BC V7X 1M5
Shareholder Update: Review of 2024 and Outlook for 2025
Vancouver, Canada - January 7, 2025 - Aztec Minerals Corp. (AZT: TSX -V, OTCQB: AZZTF) provides
shareholders with the following review of 2024 and its outlook for 202 5. Aztec’s core assets include a
100% interest in the prospective Cervantes porphyry gold-copper project in Sonora, Mexico and a 77.7%
JV interest in the historic Tombstone silver district in Southeastern Arizona.
Simon Dyakowski, President & CEO of Aztec, commented, “Aztec had a busy 2024 advancing both of our
emerging precious metal discovery projects , highlighted by the commencement of a significant drill
program at the Tombstone project, testing a newly developed geological model. On the corporate side,
we raised nearly $3.7 million in equity financings and added key technical advisors to the team. Our new
geological model at Tombstone is currently being drill tested with additional drill results expected early in
2025. The new Tombstone geological model has demonstrated continued expansion potential of the
Contention Pit Gold -Silver target and has generated several additional first pass drill targets in the
Westside target area. During the year, Aztec also increased its ownership of the Tombstone Property JV
to 77.7% from 75.0%. At the Cervantes project we reported the results of the late 2023 , 13 hole, RC
drilling program which expanded the mineralization of the primary California Zone oxide gold target. With
the Gold price breaking out to new all times highs and the silver price approaching multi-decade highs in
the second half of 2024, Aztec is well positioned to create substantial shareholder value in 202 5 as we
continue to advance each of our emerging precious metals discovery projects.”
2024 Highlights
Tombstone Project
• Advanced a comprehensive geological mineralization model to support new exploration and
drilling targets at the property including:
o The n ew Westside Target Area of the Tombstone project, adjacent to the historic
Contention open pit, which continues to show mineralized features with high potential
for shallow gold-silver expansion drilling.
o Contention Pit area field work provided key information to delineate and expand the wide
mineralized zone on surface.
• Constructed 3D computer models of geology, multi-element geochemistry, and alteration.
• Completed Surface and Reconnaissance Sampling program:
o Collected and analyzed 482 rock chip channel and reconnaissance samples from the
Contention pit and 60 reconnaissance outcrop composite and select samples over the rest
of the project area, including the Westside area and current aggregate operations
o Highlights included: a 60.0 m continuous chip channel sampling averaging 3.47 gpt AuEq
includes : 36.0 m of 2.86 gpt Au & 172.41 gpt Ag (5.02 gpt AuEq) and 30.2m of 3.72 gpt
Gold and 167.93 gpt Silver (5.82 gpt AuEq) Confirming Wide High-Grade Gold and Silver
Oxide Mineralization on Surface
o Reconnaissance sampling over the Tombstone project patented claims returned +40% of
samples with assays of above 1 gpt AuEq
o High grade assays of 8.66gpt Au, 225 gpt Ag (11.47 gpt AuEq) and 4.94 gpt Au, 268 gpt Ag
(8.29 gpt AuEq) indicates further potential to extend the mineralized footprint beyond
the Contention pit zone.
▪ please see news releases dated: June 24, July 2, and July 16, 2024
• Commenced 2,000-meter step out drilling program, subsequently increased to 3,000 meters.
o The 2024 Contention area step-out drilling program target ed shallow zones, associated
with recently completed surface exploration and 3D geological modelling, prospective for
wide oxide gold-silver mineralization.
o Current drilling program also include d first pass targets primarily west of the historic
Contention Open pit target zone.
• Progress at the Tombstone project in 2024 consisted of digitizing and 3D modelling the extensive
old workings of the historic mines in preparation for expansionary drilling of the near surface
oxide gold silver mineralization below and around the Contention open pit, and first pass drilling
of the Westside Target Area.
• Aztec’s drilling over 2020 -2024 has been successful in drill testing significant gold -silver
mineralization which remains open in all directions (please see news releases dated July 5, 2023,
December 7, 2021 and January 12, 2021).
• Higher grade intervals include 16.8 grams per tonne (gpt) gold and 374.4 gpt silver or 22.15 gpt
gold equivalent (AuEq) using a 70:1 silver:gold ratio over 7.6 meters (m) in hole TR21-22 and 5.71
gpt gold plus 40.5 gpt silver or 6.28 gpt gold equivalent over 32.0 m in hole TR21-03
• Thicker mineralized intervals include 65.5 m grading 2.44 gpt Au and 66.6 gpt Ag (3.39 gpt AuEq)
in hole TR21-22 and 96.04 m assaying 1.39 gpt Au and 56.4 gpt Ag (2.20 gpt AuEq) in hole TR21-
10
Cervantes Project
• Reported final results from the late 2023 drilling program consisting of 13 reverse circulation “RC”
holes totaling 1,646 meters.
• Drilling in the 2022 -2023 programs intercepted strong mineralization at the California Zone,
California Norte and Jasper targets.
• The California Zone of near surface, oxide gold mineralization was successfully expanded in
every direction and to depth, and is approaching the adjacent California Norte mineralized target
• California Zone Drill Highlights Include:
o 137m @ 1.49 gpT Au incl 51.7m @ 3.42 gpT Au in CAL22-005
o 165m @ 1.00 gpT Au incl 24.4m @ 4.25 gpT Au in CAL22-004
o 152m @ 0.87 gpT Au, incl 33.5m @ 2.05 gpT Au in CAL22-012
• Our first drill campaign six years ago successfully and partially outlined an oxide gold cap to a
significant new porphyry gold (copper) discovery at the California zone, with drill intercepts up to
160 meters long grading 0.77 gpt gold (hole 18CER010).
▪ Please see summary news release dated March 7, 2024
Corporate
• Closed two private placement financings totalling CAD$3.68 million.
• Increased ownership of Tombstone Project JV to 77.7% from 75.0%.
2025 Outlook
• Assay results of current Tombstone drilling program are pending in Q1 2025.
• Continue surface exploration the Cervantes project during the first half of 2025 in preparation for
potential continued step out drilling.
• Additional drilling campaign at the Tombstone project targeting further expansions of high-grade
shallow gold and silver around and below the Contention open pit and Westside target area,
subject to ongoing drill program results and funding.
• Test the deep CRD potential at Tombstone, subject to results and funding.
• Seek additional opportunities in safe jurisdictions within the Americas where our focus will be on
projects with high quality bulk tonnage gold+/-copper+/-silver potential.
Allen David Heyl, B.Sc., CPG., VP Exploration is the Qualified Person at Aztec Minerals Corp who 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: [email protected]
Website: www.aztecminerals.com
Neither 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 “forward‐looking 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 expansi on 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 adve rse
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 forward‐looking statements or forward‐looking information, except as required by law.