Aztec Extends Oxide Gold-Silver Mineralization up to 190 m West at the North Extension at Tombstone, Arizona, Including 115.8 m of 0.67 g/t AuEq (0.52 g/t Au & 8.11 g/t Ag) in TR26-45

VANCOUVER, BC / ACCESS Newswire / October 22, 2026 / Aztec Minerals Corp. (TSXV:AZT)(OTCQB:AZZTF) ("Aztec" or the "Company") announces the results from nine drill holes (TR26-45 to TR26-53) from its reverse circulation ("RC") portion of the 2025-2026 drilling program at the Tombstone Property in Southeastern Arizona. All nine holes intersected oxide gold-silver mineralization. Six holes (TR26-45 to TR26-49 and TR26-51) stepped out approximately 90 m to 190 m west of the North Extension holes reported on September 2, 2026, TR26-50 was drilled at a steeper angle from the TR26-41 pad, and TR26-52 and TR26-53 tested the zone north of TR26-43.

The western step-outs extend the known oxide footprint approximately 190 m west of the North Extension, and the mineralization remains open to the west, north and at depth. The Au-Ag mineralization found thus far in the North Extension shows the same controls as the Main Contention zone, i.e., variably altered and mineralized dioritic dikes channeling the strongly mineralized hydrothermal breccias with acutely angled mineralized quartz fissure lodes together cutting the Bisbee Group and lower carbonate sediments, often mineralized with large horizontal dimensions.

The maiden Mineral Resource Estimate ("MRE") for Tombstone, being prepared by APEX Geoscience Ltd., is expected in November 2026 and will incorporate drill results up to TR26-44. Assay results are pending for a further 22 RC holes (TR26-54 to TR26-75), including the remaining holes in the North Extension, which will be reported as they are received and reviewed.

Aztec Minerals CEO Simon Dyakowski commented: "This round of step-out drilling shows the oxide gold-silver system continuing west of the North Extension and at depth. TR26-45 returned more than 115 meters of continuous mineralization, and TR26-49 and TR26-51 added higher-grade intervals on the western side of the target. The system remains open to the west and at depth. Together with the pending results, these holes will help guide follow-up work in 2027, which will be planned once the maiden resource estimate is complete. We look forward to reporting the remaining results as they are received."

Highlights from the RC drilling reported for the Tombstone Property include:

• Hole TR26-45 intersected 115.8 m averaging 0.52 g/t Au and 8.11 g/t Ag (0.67 g/t AuEq) from 51.8 m, including 12.2 m averaging 1.49 g/t Au and 7.95 g/t Ag (1.63 g/t AuEq) from 82.3 m and 12.2 m averaging 1.23 g/t Au and 10.48 g/t Ag (1.42 g/t AuEq) from 134.1 m. The interval ends at a historic working from 167.0 to 169.5 m.
• Hole TR26-46 intersected 47.2 m averaging 0.42 g/t Au and 13.19 g/t Ag (0.66 g/t AuEq) from 42.7 m, including 7.6 m averaging 1.54 g/t Au and 32.72 g/t Ag (2.14 g/t AuEq) from 45.7 m. A deeper zone returned 22.9 m averaging 0.07 g/t Au and 4.01 g/t Ag (0.14 g/t AuEq) from 153.9 m (see Table 1A).
• Hole TR26-47 intersected four zones, the most significant being 25.9 m averaging 0.19 g/t Au and 6.00 g/t Ag (0.30 g/t AuEq) from 39.6 m, including 3.0 m averaging 0.61 g/t Au and 4.60 g/t Ag (0.69 g/t AuEq) from 47.2 m (see Table 1A).
• Hole TR26-48 intersected 24.4 m averaging 0.76 g/t Au and 14.59 g/t Ag (1.02 g/t AuEq) from surface, including 6.1 m averaging 1.73 g/t Au and 30.45 g/t Ag (2.28 g/t AuEq) from 4.6 m. A broad lower zone returned 70.1 m averaging 0.18 g/t Au and 4.91 g/t Ag (0.27 g/t AuEq) from 70.1 m. This interval includes a historic working from 106.7 to 109.7 m and 1.5 m of no recovery from 118.9 m, neither of which was sampled.
• Hole TR26-49 intersected 30.5 m averaging 0.70 g/t Au and 24.62 g/t Ag (1.15 g/t AuEq) from 82.3 m, including 12.2 m averaging 1.37 g/t Au and 49.35 g/t Ag (2.26 g/t AuEq) from 82.3 m. Two shallower zones were intersected from surface and from 61.0 m (see Table 1A).
• Hole TR26-50 intersected 38.1 m averaging 0.26 g/t Au and 12.55 g/t Ag (0.48 g/t AuEq) from 30.5 m, including 7.6 m averaging 0.70 g/t Au and 41.80 g/t Ag (1.46 g/t AuEq) from 33.5 m.
• Hole TR26-51 intersected 7.6 m averaging 1.84 g/t Au and 35.64 g/t Ag (2.49 g/t AuEq) from 12.2 m, including 3.0 m averaging 4.49 g/t Au and 84.30 g/t Ag (6.03 g/t AuEq) from 16.8 m. A deeper zone returned 19.8 m averaging 0.62 g/t Au and 23.68 g/t Ag (1.05 g/t AuEq) from 198.1 m, including 4.6 m averaging 2.31 g/t Au and 75.83 g/t Ag (3.69 g/t AuEq) from 201.2 m. Five additional zones were intersected between surface and 182.9 m (see Table 1A).
• Holes TR26-52 and TR26-53 each intersected multiple mineralized zones, the strongest being 6.1 m averaging 0.68 g/t Au and 53.35 g/t Ag (1.65 g/t AuEq) from 96.0 m in TR26-53, immediately below an unsampled historic working from 91.4 to 96.0 m, and 19.8 m averaging 0.17 g/t Au and 7.52 g/t Ag (0.31 g/t AuEq) from surface in TR26-53; and 39.6 m averaging 0.10 g/t Au and 16.06 g/t Ag (0.39 g/t AuEq) from 57.9 m in TR26-52.

Figure 1. Plan map showing drill hole collars from the 2025-2026 drill campaign at the Tombstone Property, southeastern Arizona.

View drill sections here:

Link to section view hole TR26-45 & TR26-51
Link to section view hole TR26-46 & TR26-49
Link to section view hole TR26-47
Link to section view hole TR26-48 & TR26-50
Link to section view hole TR26-52 & TR26-53

Table 1A: Drill Results Currently Reported

Note 1: Gold and Silver equivalents are calculated using the recovery percentages from third party metallurgical testing of RC drill pulps completed January 21, 2026 (81.5% for Au and 75.9% for Ag) and the average prices from January 1, 2026 to May 1, 2026 (US$4,817/oz Au, US$81.36/oz Ag), a price ratio of 59.2:1. Adjusted for the difference in metal recoveries, a 55:1 silver:gold ratio was used for the holes reported in this release. AuEq has been reported at 70:1 for November 2025 to February 2026, 90:1 in 2025 prior to November, 80:1 in 2023 and 2024, and a 70:1 silver:gold ratio in 2021.

2025-2026 Drill Program

The 112 RC drill holes completed to date in the current 2025-26 program are primarily part of a "fan grid pattern" being drilled in the Contention zone. 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. Several RC drill holes tested targets in the Westside and Hard Up areas on projected anticline, dike and fissure vein intersections 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.

The primary objectives of the 2025-26 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. The drilling results showed that the Contention area mineralization is still open at depth and the mineralized volume is expanding.

Table 1B: Tombstone 2026 Reported Results

Table 2 - 2026 Drillhole Coordinates

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.

Drill samples are collected every 1.52 m from RC chips and every 1.5 m from sawing the core drill holes. Samples from holes TR26-45 to TR26-53 were analyzed by Skyline Assayers & Laboratories in Tucson, Arizona (ISO 17025 / ISO 9001), which is independent of the Company and of the Qualified Person. Gold was analyzed by fire assay with AAS finish (FA-01), and samples exceeding 5,000 ppb Au were re-analyzed by fire assay with gravimetric finish (FA-02). Silver and multi-elements were analyzed by aqua regia digestion with ICP-MS (TE-3). 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. Samples from hole TR26-63 onward are being analyzed by Bureau Veritas Minerals, with gold assays completed in Hermosillo, Mexico and multi-element analyses in Vancouver, Canada. The QAQC for the holes reported in this release has been evaluated and found to have good results.

Tombstone Project Overview

Aztec Minerals holds an 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. Follow-up drilling is anticipated in 2027, with the program to be defined following completion of the maiden MRE. 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 Hermosa-Taylor zinc-lead-silver deposit of South32 located 60 km southwest of Tombstone.

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 (46) and unpatented (73) claims (844.17 hectares/2,086 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 2020-26 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

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, the timing and completion of the maiden Mineral Resource Estimate and any subsequent resource update, the timing and scope of the planned 2027 drill program, 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.

SOURCE: Aztec Minerals Corp.