Aztec Minerals Shareholder Update: Review of 2025 Highlights and Outlook for 2026

Simon Dyakowski, President & CEO of Aztec, commented, "2025 was a foundational year for the Company as we advanced both of our precious metal discovery projects, highlighted by the drilling of the highest-grade silver and gold intercepts ever discovered by Aztec at the Tombstone Project. On the corporate side, we raised $13.6 million in two equity financings and increased our ownership of the Tombstone JV from 77.7% to 85.0%. At the Tombstone Project in southeastern Arizona, we started the year by reporting the highest-grade silver intersection drilled by Aztec and closed 2025 by reporting the highest-grade gold intersection discovered, to date. In the second quarter, we significantly increased our land position, by nearly 50%, through staking an additional 31 claims. Mid-year, the Tombstone JV initiated its largest ever drill program, which was recently expanded from an originally planned 5,000 meters to a minimum of 8,500 meters, and is planned to continue into 2026. The program of both reverse circulation drilling of the shallow, gold-silver oxide targets and now the first ever core drilling of CRD style targets is ongoing with additional analytical results pending. At the Cervantes Porphyry Gold-Copper Property in Sonora Mexico, we conducted reconnaissance outcrop sampling and geological mapping of several targets as we look to advance the project with further exploration in 2026. As silver and gold prices trade at all time highs, Aztec is positioned to create substantial shareholder value in 2026 with continued advancement at each of our precious metals discovery projects."

Tombstone Project 2025 Highlights

• Reported highest grade silver intersected at the Property by Aztec to date:

  • High grade Silver Intersection of 7,269 gpt AgEq (233.7 opt AgEq - 3,669 gpt Ag, 44.7 gpt Au) over 1.52 m, within a zone of 569 gpt AgEq (18.3 opt AgEq - 290 gpt Ag, 3.48 gpt Au) over 25.8 m

  • The intercept was in TR24-16 in the South Extension of the Contention pit and intersected multiple zones of oxide Ag-Au mineralization including 106.4m of 147.9 gpt AgEq (1.85 gpt AuEq - 0.90 gpt Au and 76.2 gpt Ag)

  • The TR24-16 high grade intercept is located along the general Contention Pit trend 439 m SSW from the prior high-grade intercept in TC23-01 (3,477 gpt silver and 0.12 gpt gold (3,485.1 gpt AgEq) over 1.52

• Discovered high-grade mineralization in first pass drilling of the Westside Target Area:

  • Drillhole TR24-13 intersected 24.4m of 106.24 gpt AgEq within a broader zone of 85.4m averaging 47.31 gpt AgEq at shallow depth

  • The first pass test of the Westside Target Area confirmed significant silver-gold oxide mineralization intersections for the geologically diverse, modeled targets

  • The Westside Target Area demonstrates potential for shallow silver-gold oxide mineralization like that of the adjacent Contention Target Area

    • Please see news release dated January 22, 2025

    • Please see news release dated January 28, 2025

• Expanded Property Land Position by 46.7%:

  • Staked 31 new unpatented lode mining claims totaling 211 hectares (522 acres), increasing the overall Tombstone Project JV land package by 46.7% from 452 hectares to 663 hectares (1,639 acres).

    • Please see news release dated May 20, 2025

• Commenced 5,000-meter RC and Core drilling program, subsequently increased to a minimum of 8,500 meters:

  • Aztec reported strong initial results and expanded and extended into 2026 including the first core drilling of CRD style targets below the oxide silver-gold target area:

    • Drillhole TR25-03 intersected 6.08m of 456.6 gpt AgEq within a broader zone of 50.3m averaging 89.7 gpt AgEq at shallow depth

    • Drillhole TC25-02 which intersected 62.5m at 40.7 gpt AgEq (19.4 gpt Ag and 0.24 gpt Au)

    • Drillhole TR25-06 intersected 3.04m of 2149.5 gpt AgEq within a broader zone of 28.9m averaging 250.2 gpt AgEq at shallow depth

    • Drillhole TR25-05 intersected 4.6m of 590 gpt AgEq within a broader zone of 47.1m of 0.55 gpt Au and 36.4 gpt Ag (85.5 gpt AgEq) at shallow depth

      • Please see news releases dated June 11, August 14, September 23, and December 4, 2025

  • Drilled Highest Grade Gold Intersection to-date by Aztec

    • Drillhole TR25-17 intersected a broad zone of 36.5m averaging 8.14 gpt Au and 49.67 gpt Ag from 9.1 m depth including 4.6m averaging 58.5 gpt Au and 158.0 gpt Ag from 16.7m depth at a previously untested area of northern portion of the Contention Target

      • Please see news release dated November 4, 202

• Aztec's drilling over 2020-2025 has been successful in drill testing significant gold-silver mineralization which remains open in all directions(please see summary news releases dated February 19, 2025, July 5, 2023, December 7, 2021, and January 12, 2021)

Cervantes Project 2025 Highlights

• Conducted a surface exploration program in preparation for potential future drilling that produced strong results:

  • Expanded the known extent of the California Au-Cu porphyry system another 0.5 kms to the east

  • Found and confirmed new prospects with porphyry related mineralization with results of up to 15.6 gpt Au, 177.3 gpt Ag, and8,062 ppm Cu in the adjoining target areas of Brasil, Estrella, California East, California North, and Purisima East.

    • Please see news release dated August 6, 2025

• 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:

  • 137m @ 1.49 gpT Au incl 51.7m @ 3.42 gpT Au in CAL22-005

  • 165m @ 1.00 gpT Au incl 24.4m @ 4.25 gpT Au in CAL22-004

  • 152m @ 0.87 gpT Au, incl 33.5m @ 2.05 gpT Au in CAL22-012

• Our first drill campaign seven 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 Highlights 2025

• Closed an over subscribed private placement of $3.6 million in May

• Closed an over subscribed bought deal private placement of $10.0 million in October

• Increased ownership of Tombstone Project JV to 85.0% from 77.7%.

Tombstone 2026 Outlook

• Additional analytical results from the ongoing RC and Core drilling programs are pending release early in Q1 2026

• Continued drilling campaign targeting further expansions of high-grade shallow gold and silver around and below the Contention open pit and Westside target area, in preparation for a maiden resource estimate

• Continued drill testing of the CRD potential at Tombstone, subject to ongoing program results and funding

Cervantes 2026 Outlook

• Continue surface exploration the Cervantes project during the first half of 2026 in preparation for potential continued step out and exploration drilling.

• Potential 2026 drill program at Cervantes to continue stepping out the shallow near surface gold oxide mineralized zone at the California target, and additional targets.

New Opportunities

• Seek and review potential 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., is the Qualified Person and Vice President of Exploration 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: info@aztecminerals.com

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 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.

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