• 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 immediate, 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 extents 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 2. 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 1.161 gpt Au), including 3.0 meters from 126.2 to 129.2 meters 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

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 continued 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 showed 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

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

*Both drill holes are precollars for 2025 deep core drilling

Drill samples are collected every 1.52 m from RC chips and every 1.5m from sawing the core drill holes. The samples are analyzed by Bureau Veritas for gold with a 30-gram sample size using the method FA430 followed by MA300. Bureau Veritas is independent of the Company and of the Qualified Person. Over limits, when present, are analyzed by MA370 or FA530. The company uses quality assurance-quality control as a standard part of its sampling-assaying-assessments in conjunction with its exploration sampling programs. Samples and their collection are controlled by an industry standard conforming QAQC program including all drill holes containing certified blanks, standards, and duplicates. The samples are being regularly shipped to and received by the Bureau Veritas Minerals laboratory in Hermosillo, Mexico for geochemical analysis. The QAQC for the drilling programs has been evaluated and found to have good results.

Tombstone Project Overview

Aztec Minerals holds a 85.0% interest in the Tombstone Property Joint Venture, which includes most of the original patented mining claims in the main district as well as some recently acquired properties.

The main target of the current drilling is to continue testing the shallow, bulk tonnage, potentially heap leachable, mesothermal gold-silver oxide mineralization adjacent and below the previously mined Contention pit by step-out drilling. Future drilling is expected to focus on follow-up on the current program’s results. It is anticipated that possible targeting could include strike and dip extensions of the shallow oxide mineralization, and move along those trends deeper into the sulfide zone as historically there was significant production to 300 m depth^*2.

The Tombstone project is located 100 kilometers (km) southeast of Tucson, Arizona and covers much of the historic Tombstone silver district. Tombstone is renowned for its high grade, oxidized, silver-gold mesothermal stringer lode veins, hydrothermal breccias and manto CRD orebodies that were mined in the late 1800’s and early 1900’s. The historic silver production in the Tombstone district from 1878 to 1939 was estimated at 32 million ounces and 250,000 ounces of gold^*2.

The district geology consists of a mix of shallow-level, oxidized Au-Ag and base metal deposits related to CRD and skarns hosted in folded and thrusted sediments, intrusive dikes, and lode veins, and as well the under explored, sulfide versions located below the water table.

Host rocks to the mineralization are primarily the clastic sediments of the lowest portion of the Cretaceous Bisbee Formation. Between 50 and 300 meters (m) in depth, the Bisbee is underlain by approximately two kms thick of the same Paleozoic carbonate formations that host the 110 MT Hermosa-Taylor zinc-lead-silver deposit of South32 located 60 km southwest of Tombstone^*3.

Aztec believes that the historic silver mines at Tombstone could be related to a much larger mesothermal system with CRD mineralization below the old mines. Since 2017, Aztec has completed geological mapping, geochemical sampling and geophysical surveying to identify the most prospective areas for Au-Ag mineralization around and below the Contention open pit, and CRD zinc-lead-copper-silver-gold mineralization below the entire district. Aztec management views the district as highly prospective for the discovery of mesothermal and CRD mineralization.

Summary Tombstone Project Highlights

• Well located property on patented (33) and unpatented (73) claims (663 hectares / 1639 acres), covers much of the historic Tombstone silver mining district, great infrastructure, local town, road access, full services, water, power
• Historic silver district^*2 produced 32 million ounces of silver and 250,000 ounces of gold from 1878-1939, in high grade, oxidized, silver-gold-lead-zinc-copper vein, breccia and CRD deposits, and small open pit heap leach production in late 1980’s
• Drilling by Aztec in 2020-25 has demonstrated that the Contention Pit target has significant, shallow. oxidized Au-Ag bulk tonnage mineralization which is open in all directions
• Multiple other prospective targets in Cretaceous and Paleozoic rocks related to major NW and NNE trending structures hosting porphyritic intrusions crosscutting a possible caldera ring structure

^* Aztec has not verified these historic results and is not relying on them. Aztec has in its possession the historic drill logs, maps and reports but does not have any information on the quality assurance or quality control measures taken in connection with these historical exploration results.

Noted References:

1 – “Zonge International, AMT Survey, Tombstone Project, Cochise County, AZ, Data Acquisition and Processing Report, Prepared for Aztec Minerals, 18 May 2020, Zonge Job #20013”
2 – Greeley, Michael N., A Brief History and Review of Ore Grades and Production in the Tombstone Mining District with Emphasis on the Contention Mine Area, June 1984
3 - M3 Engineering and Technology Corp., Hermosa Project N.I. 43-101F1 Pre-Feasibility Study, January 2014

The scientific and technical information contained in this news release has been reviewed and approved by Allen David Heyl, B.Sc., CPG – AIPG No.11277, VP Exploration of Aztec, a Qualified Person under NI43-101. Mr. Heyl supervises the Tombstone exploration programs. Mr. Heyl has verified the data, which included a review of the sampling, analytical and test methods underlying the data, information and opinions disclosed herein.

“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: info@aztecminerals.com
Website: www.aztecminerals.com

Neither the 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 expansion 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 adverse 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.