Four New Gold Soil Anomalies at Cervantes Confirm Historic Prospects with Anomalous Assays from 0.10 gpt Gold up to 3.3 gpt Gold from Phase 2 Exploration Program

Vancouver, Canada – August 22, 2018 - Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) reports positive sample results up to 0.47 gpt gold over 222.0 meters on Line B from rock chip-channel sampling along drill roads at the California porphyry gold-copper prospect on the Cervantes property in Sonora, Mexico. 

Rock chip-channel sample results (see table below and map link here http://www.aztecminerals.com/_resources/AzMin-NR-Aug-22-2018-Link-1_California-Channel-Samples_Au_DDH_topo-(002).jpg) from five of seven sample lines confirm the previous highly anomalous soil sample results and the extensive porphyry-type gold mineralization intersected in the Phase 1 drill program. 

Of particular interest is rock sample line G which returned 0.02 gpt gold over 111.0 meters adjacent to drill hole 18CER017 which intersected 0.35 gpt gold over 116.0 meters with 62.0 meters of 0.50 gpt gold. More studies are required to understand the controls on mineralization and infill drilling should help to better define the geometry of the subsurface mineralized zones.

Aztec’s CAD$182,000 Phase 2 exploration program of geological mapping, rock, soil and sediment sampling and airborne magnetic and radiometric surveys is focused on better defining additional drill targets on the recently expanded (3,649 hectares) Cervantes property.

New Terraspec SWIR analysis of core samples was recently conducted and results are under evaluation. Preliminary results suggest a good correlation between elevated gold values and high temperature muscovite and/or illite phyllosilicates. Recognizing the minerals associated with gold mineralization will assist Aztec in prospecting the rest of the Cervantes property. The Terraspec SWIR measures and identifies specific minerals including higher temperature, well-crystallized minerals often associated with gold mineralization.

To date, soil sampling results range from 0.00 gpt up to 3.30 gpt gold (mostly 0.05 to 1.0 gpt gold) and confirm four historic prospects as highly anomalous gold targets (see map link here http://www.aztecminerals.com/_resources/AzMin-NR-Aug-22-2018-Link-2_Cervantes-Gold-in-Soils_Property-Wide.jpg) at:

• California north extension soil assays up to 0.33 gpt gold, open to north and west
• Purisima East soil assays up to 3.3 gpt gold, 15 samples > 1.0 gpt gold, 700x700 meter anomaly
• Purisima West soil assays up to 0.61 gpt gold, open to east
• Jacobo soil assays up to 0.66 gpt gold, open in all directions

The previous IP-resistivity survey over the California prospect outlined a large, strong chargeability anomaly interpreted to be a zone of porphyry related sulfide mineralization extending from the interpreted base of the oxide zone around 100 metres deep plunging to the southeast down below the 400 metre depth limit of the survey. This chargeability anomaly remains a top priority drill target to expand the known porphyry type mineralization at the California prospect.

The airborne magnetic and radiometric survey is scheduled for completion in October after the rain season is over.  The airborne geophysical data should assist in identifying new prospective targets as well as refining our understanding of the multiple existing targets at Cervantes.  At that time, Aztec will evaluate its priorities for the next phase of drilling. 

The Cervantes Property is held under an option to purchase agreement with Kootenay Silver Inc. (TSX-V:KTN) whereby Aztec can acquire up to 100% interest in the property in two stages. Additional information can be found on our website.

Joey Wilkins, B.Sc., P.Geo., is the Qualified Person who reviewed and approved the technical disclosures in this news release. All rock samples were put into plastic bags, labeled with sample number, closed with zip ties, and placed in polyfiber sacks. Chip-channel samples were collected in 3.0 m intervals and described in detail. Blanks and certified standards were inserted into the chip-channel sample stream and subsequently reviewed, without any outliers or abnormal results. Soil samples were collected in the field with a minus 10 sieve, collecting 1.5 to 2.0 kg samples and placed in manila envelopes. The rock and soil samples were delivered to Bureau Veritas Laboratories in Hermosillo and analyzed for gold using a 30 gram sample by fire assay fusion with AAS finish. The XRF scanning for base and trace elements was conducted by a geologist in Hermosillo with an Innovex Delta, under Aztec supervision.   

About Aztec Minerals – Aztec is a mineral exploration company focused on the discovery of large gold-copper deposits in the Americas. Our core asset is the prospective Cervantes porphyry gold-copper property in Sonora, Mexico. Our second project is the district-scale historic Tombstone properties holding both bulk tonnage epithermal gold-silver as well as CRD silver-lead-zinc deposits in Cochise County, 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:

Neil MacRae, Vice President, Investor Relations

Tel: (604) 685-9770
Fax: (604) 685-9744
Email:  neil@aztecminerals.com
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 meaning of applicable Canadian securities legislation. Such forward?looking statements and information herein include but are not limited to statements regarding Aztec’s anticipated performance in 2018 and the future, including the exercise of the options on the Cervantes and Tombstone properties, the planned exploration activities, receipt of assay results from drilling, the completion of further drilling and exploration work, and the timing and results of various activities. 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 those expressed or implied by such statements. Such factors 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 and development, risks in obtaining necessary licenses and permits, and challenges to the Company’s title to properties.

Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the continued operation of the Company’s exploration operations, no material 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 forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information 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 not place undue reliance on forward-looking statements or information.