Aztec Minerals Corp :. - Shareholder Update, Review of 2020 and Outlook for 2021

Vancouver - Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) provides shareholders with the following review of 2020 and its outlook for 2021.

Aztec's core assets include an option to acquire a 75% interest in the historic Tombstone silver district, Arizona and a 65% interest in the prospective Cervantes porphyry gold-copper project in Sonora, Mexico.

Bradford Cooke, Chairman and Founder of Aztec, commented, 'Aztec Minerals enjoyed quite a turn around in 2020, highlighted by the successful results of our Phase 1 RC drill program at Tombstone, and the formation of our 65/35 Joint Venture with Kootenay Silver on the Cervantes Project. We appointed a new CEO, raised CAD$4 million through two equity financings and a warrant exercise, discovered significant, shallow, oxidized gold-silver mineralization around and below the Contention pit at Tombstone and built a strong foundation to advance both of our exploration projects in 2021.'

Simon Dyakowski, CEO of Aztec, added, 'Our main goals at Tombstone for the new year are to conduct infill and step out drilling to expand the shallow oxide epithermal gold-silver open pit mineralization at the Contention Pit, and to test deeper high grade polymetallic CRD targets underlying the Tombstone property. At Cervantes, our goals are to recommence exploration activities through our newly formed Joint Venture and to plan and permit a substantial Phase 2 drill program.'

Aztec Minerals Corp.

About Aztec Minerals - Aztec is a mineral exploration company focused on the discovery of large polymetallic mineral deposits in the Americas. Our core asset is the prospective Cervantes porphyry gold-copper property in Sonora, Mexico. The historic, district-scale Tombstone properties host both bulk tonnage epithermal gold-silver as well as CRD silver-lead-zinc mineralization in Cochise County, Arizona. Aztec's shares trade on the TSX-V stock exchange (symbol AZT) and on the OTCQB (symbol AZZTF).

Contact:

Simon Dyakowski

Tel: [phone]

Fax: [phone]

Email: [e-mail]

Web: www.aztecminerals.com

Forward-Looking Statements

Certain statements contained in this press release may constitute forward-looking statements under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'expects' or 'it is expected', or variations of such words and phrases or statements that certain actions, events or results 'will' occur. These forward-looking statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws.

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