Aztec Minerals increases private placement to $8.69M

Mr. Simon Dyakowski reports AZTEC MINERALS ANNOUNCES UPSIZE OF BOUGHT DEAL PRIVATE PLACEMENT TO $8.7 MILLION Due to investor demand, Aztec Minerals Corp. has entered into an amended agreement with Stifel Canada to act as the sole underwriter and bookrunner to increase the size of its previously announced bought deal private placement offering, pursuant to which the underwriter has agreed to purchase, on a bought deal basis, 37.02 million common shares of the company at a price of 23.5 cents per offered share for gross proceeds to the company of $8,699,700. The company has granted to the underwriter an option, exercisable up to 48 hours prior to the closing date, to purchase for resale up to an additional 15 per cent of offered shares to be sold under the offering at the issue price for additional gross proceeds of up to approximately $1.3-million. The company intends to use the net proceeds to conduct exploration work on its Tombstone gold-silver and silver-lead-zinc-copper-gold carbonate replacement deposit project in Arizona, United States, and its Cervantes gold-copper project in Sonora, Mexico, as well as for general working capital purposes. The offering is expected to close on or about Oct. 16, 2025, and is subject to the company receiving all necessary regulatory approvals, including the conditional approval from the TSX Venture Exchange. The company shall pay the underwriter a cash fee equal to 7 per cent of the gross proceeds of the offering (inclusive of any offered shares purchased in connection with the exercise of the overallotment option). In addition, on the closing date, the company shall issue to the underwriter warrants of the company, in such manner as directed by the underwriter, equal to 7 per cent of the number of offered shares sold under the offering (inclusive of any offered shares purchased in connection with the exercise of the overallotment option). Each broker warrant shall entitle the holder to acquire one common share in the capital of the company at an exercise price equal to the issue price per broker warrant share for a period of 36 months following the closing date. The offered shares will be offered for sale to purchasers resident in Canada, pursuant to available prospectus exemptions under National Instrument 45-106 (Prospectus Exemptions) or applicable law in Canada, and may be offered outside of Canada provided that no prospectus, registration statement or similar document is required to be filed in such jurisdiction and the company does not thereafter become subject to continuous disclosure obligations in such jurisdictions. The offered shares issued pursuant to the offering will be subject to a hold period of four months and a day under applicable Canadian securities laws. About Aztec Minerals Corp. 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 Venture Exchange (symbol AZT) and on the OTCQB (symbol AZZTF). We seek Safe Harbor.