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Aztec Minerals Provides Updates on Cervantes Project, Sonora and Tombstone Properties, Arizona

Vancouver, Canada – January 23, 2018 - Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) announces that it anticipates receiving assays late this month for the first 5 holes drilled at the Cervantes gold-copper porphyry property in Sonora State, Mexico before the Christmas break.  The Phase 1 drill program is now underway again and consists of a total of 14 to 17 holes totaling approximately 3,000 metres.

In December 2017, Aztec entered into an option agreement with Baroyeca Gold & Silver to acquire a 75% interest in their 172 hectare mineral property package, mostly patented claims, covering many of the historic silver-gold mining properties in the famous Tombstone mining district, Cochise County, Arizona.  Baroyeca has advised Aztec that the TSXV requires Baroyeca shareholder approval of the option agreement, and such approval should be forthcoming following their next shareholder meeting.

Given the history of high-grade silver-gold mining in the Tombstone district, the carbonate replacement deposit-type related to potential buried intrusions and the lack of modern exploration on the properties, the Tombstone properties are an excellent addition to Aztec’s property portfolio. Management sees strong potential at Tombstone for the discovery of new shallow oxide and deeper sulphide precious and base metal mineralization near areas of historic underground and open cut mining, including the past-producing Contention Pit. 

The Company is currently developing exploration plans for the Tombstone property for the first half of 2018, which will include geological mapping, geochemical sampling and geophysical surveys to prioritize targets for drilling.

Joey Wilkins, B.Sc., P.Geo., President and CEO of the Company, is the Qualified Person who reviewed and approved the technical disclosures in this news release.

About Aztec Minerals – Aztec is a mineral exploration company focused on the discovery of large porphyry gold-copper deposits in the Americas. Our first project and core asset is the prospective Cervantes gold-copper property in Sonora, Mexico. The second project is the district-scale historic Tombstone properties in Cochise County, Arizona. Aztec’s shares trade on the TSX-V stock exchange under the symbol AZT and on the OTCQB under the 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 receipt of regulatory approval of the Option Agreement, the exercise of the option on the Tombstone properties, the planned exploration activities on the Cervantes and Tombstone properties, receipt of assay results from drilling on the Cervantes property, the completion of further drilling on the Cervantes property, 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.

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