Aztec JV expands Tombstone drill program by 4,500 m

Executive Summary

• Aztec Minerals approved a 4,500-meter expansion to its Tombstone Project drill program, bringing the total planned drilling to ~17,000 meters with a $1.7 million budget.
• The company commenced downhole electromagnetic (EM) surveys on three core holes to identify potential massive sulphide mineralization beneath existing shallow oxide gold-silver targets.
• Corporate updates include a scheduled virtual webinar for March 11, 2026, and the issuance of 4.3 million stock options and 1 million RSUs to directors, officers, and consultants.

Key Details

• Drilling Expansion: 4,500 meters of additional reverse circulation (RC) drilling approved; total program now ~17,000 m (14,200 m RC, 2,800 m core); budget of $1.7 million.
• Drilling Targets: Westside, Hard-up, Ingersoll, East Contention, Southeast Contention, Central Contention, and North Contention areas; primary focus on shallow oxide gold-silver mineralization.
• Geophysical Surveys: Downhole EM surveys commenced on core holes TC25-3, TC25-4, and TC26-2; contracted to Zonge International for March 2026; data expected to bolster targeting for massive sulphide mineralization below shallow Bisbee group sediments.
• Corporate Events: Virtual corporate update webinar scheduled for March 11, 2026, at 2 p.m. EDT, hosted by Existing Agency Inc., featuring a live Q&A and post-event replay.
• Equity Grants: 4.3 million options granted at $0.31/share, exercisable for 5 years, subject to vesting; 1 million RSUs granted to directors/officers/consultants, vesting over 2 years, settleable in shares or cash at board discretion.
• Project Ownership & Location: 85.0% interest in Tombstone property joint venture; covers 663 hectares (1,639 acres) of patented and unpatented claims in southern Arizona, 100 km southeast of Tucson.
• Historic Production & Geology: Historic district produced ~32 million ounces of silver and 250,000 ounces of gold (1878-1939); host rocks include Cretaceous Bisbee formation clastic sediments and underlying Paleozoic carbonates; targets include mesothermal and CRD (carbonate replacement deposit) mineralization.
• Current Exploration Focus: Stepout drilling to test shallow, bulk-tonnage, potentially heap-leachable mesothermal gold-silver oxide mineralization adjacent to/below the Contention pit; future drilling to target strike/dip extensions and deeper sulphide zones.
• Technical Verification: Scientific and technical information reviewed and approved by Allen David Heyl, BSc, CPG, AIPG No. 11277, VP Exploration, a Qualified Person under NI 43-101.