Aztec Completes Tombstone Gold-Silver District Land Package in Arizona as Key Holdings Grow More Than Six-Fold Since 2017

Aztec Minerals Corp.

Aztec Minerals Corp. said it has completed the consolidation of its Tombstone district land package in Cochise County, Arizona, through a definitive purchase and sale agreement signed by its wholly owned subsidiary, Aztec Minerals America Corp.

The company said the agreement covers certain parcels totaling approximately 241 acres of surface rights and 414 acres of mineral rights associated with various patented mining claims. The parcels include the historic patented lode claims Lucky Cuss, Old Guard, Owl's Nest, Black Hawk, Grand Dipper and East Side. Aztec said the cash consideration is US$241,000, with closing subject to customary conditions including title review and curative matters.

Upon closing, Aztec said the Tombstone property will total approximately 2,500 acres across what it described as one of the United States' most storied and prospective gold-silver districts. The company said that compares with 398 acres of patented and unpatented claims under option when it first entered the district in December 2017.

Aztec Minerals CEO Simon Dyakowski said:

"When we optioned Tombstone in December 2017, the project covered 398 acres. Today, after years of strategic staking, claim purchases and the land consolidation program completed with this agreement, our district position stands at approximately 2,500 acres - more than six times the ground we started with. Our team consolidated that ownership, for a total cash outlay that we believe represents exceptional value, and with surface access secured and the land package unified, we can now expand the modern, systematic exploration in this district."

Consolidation program summary

Aztec said the agreement announced today completes a series of transactions undertaken since late 2025.

In January 2026, closing on May 11, 2026, the company acquired two key parcels adjacent to the North Contention pit, together with any known and associated mineral-estate interests, for US$88,000. Aztec said that transaction included the resolution of an active tax-lien foreclosure and multiple legacy encumbrances. First step-out drilling on that ground was reported in early August, highlighted by 88.4 m averaging 1.42 g/t Au and 14.58 g/t Ag, or 1.69 g/t AuEq, in hole TR26-39, according to the company's August 5, 2026 news release.

In May 2026, Aztec acquired approximately 90 acres of patented claims, including the Emerald, Bunker Hill, Silver Plume, Verde and Revenue claims, through the purchase and subsequent foreclosure of a secured promissory note. The company said the total cost was approximately US$124,000.

In July 2026, Aztec said it entered into a settlement and release agreement with a third party for US$25,000.

The newly announced agreement covers the remaining parcels for US$241,000 plus back taxes.

Aztec said the aggregate cash consideration for the entire consolidation program is approximately US$500,000, or about US$1,250 per surface acre. It said all transactions were arm's-length, with no shares issued and no finder's fees paid. The company compared that with approximately US$3,360 per acre paid for the Westside patented claim in May 2023 and approximately US$1,750 per acre for the Alps and Minett claims in 2020.

Growth of the Tombstone land position

Aztec provided the following history of its district land position:

Ownership structure

Aztec said all acquisitions under the consolidation program were made by its wholly owned subsidiary, Aztec Minerals America Corp. The company said its Tombstone joint venture partner, Dragoon Resources LLC, has contributed its 15% share of acquisition costs for all completed acquisitions under the program, and that these assets accordingly form part of the Tombstone Joint Venture, held 85.0% by Aztec and 15.0% by Dragoon.

For the parcels covered by the new agreement, Dragoon has a 60-day right to participate on the same basis. Aztec said it expects that right to be exercised and will confirm the final ownership structure in due course. If the participation right is not exercised, the parcels will be retained 100% by Aztec and will adjoin the Tombstone Joint Venture property.

Aztec noted that in the United States, split-estate ownership, where mineral and surface rights are separated, can occur. The company said most of the Tombstone project includes combined mineral and surface rights, although certain claims have split surface and mineral rights. It also said land position figures reflect its current compiled land tenure database and may differ from figures reported previously because of claim lapses and restakings, boundary surveys, split-estate accounting and differences in compilation methodology.

Exploration momentum on the acquired ground

Aztec said the land consolidation is already contributing to exploration results. The North Extension Zone step-out drilling reported on August 5, 2026, including TR26-39 with 88.4 m averaging 1.42 g/t Au and 14.58 g/t Ag, or 1.69 g/t AuEq, was drilled on ground acquired under the consolidation program.

The company said 90 RC holes have been completed in the 2025-2026 program, with assay results pending for holes TR26-40 to TR26-50. Those results are expected in the coming weeks and are expected to be incorporated into the project's maiden mineral resource estimate, which Aztec expects in the fourth quarter of 2026.

Metallurgical test work is underway at Kappes, Cassiday & Associates in Reno, Nevada.

Tombstone project overview

Aztec 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 Tombstone project is located 100 kilometers southeast of Tucson, Arizona, and covers much of the historic Tombstone silver district. Aztec said the district is known for high-grade, oxidized, silver-gold mesothermal stringer lode veins, hydrothermal breccias and manto CRD orebodies that were mined in the late 1800s and early 1900s.

The company said historic silver production in the Tombstone district from 1878 to 1939 was estimated at 32 million ounces of silver and 250,000 ounces of gold.

Aztec said it believes the historic silver mines at Tombstone may be related to a much larger mesothermal system with CRD mineralization below the old mines. Since 2017, the company said it 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, as well as CRD zinc-lead-copper-silver-gold mineralization below the district.

The company said management views the district as highly prospective for the discovery of mesothermal and CRD mineralization.

Aztec added that it has not verified the historic production figures and is not relying on them. The company said it has historic drill logs, maps and reports in its possession, but does not have information on the quality assurance or quality control measures used for those historical exploration results. It cited Michael N. Greeley's June 1984 work, A Brief History and Review of Ore Grades and Production in the Tombstone Mining District with Emphasis on the Contention Mine Area.

The scientific and technical information in the release was reviewed and approved by Allen David Heyl, B.Sc., CPG, AIPG No. 11277, Vice President of Exploration of Aztec, who is a qualified person under NI 43-101.

About Aztec Minerals

Aztec Minerals is a mineral exploration company focused on two emerging discoveries in North America. Its Cervantes project is an emerging porphyry gold-copper discovery in Sonora, Mexico, and its 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 Venture Exchange under the symbol AZT and on the OTCQB under the symbol AZZTF.

For more information, Aztec said investors can contact Simon Dyakowski, President and CEO, at (604) 685-9770 or info@aztecminerals.com, or visit www.aztecminerals.com.

The company said neither the TSXV nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of the release, and that no stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in it.

Aztec also included a standard forward-looking statements disclaimer covering, among other things, completion of the acquisition, satisfaction of closing conditions, the anticipated participation of its joint venture partner, planned work, the maiden mineral resource estimate, drill and sampling results, exploration potential, and the company's technical, financial and business prospects.