Azteca Gold Corp.
TSX VENTURE : AZG

Azteca Gold Corp.

October 18, 2007 09:17 ET

Azteca Gold Corp. Drill Permits Received for Silver Valley Two Mile Project and Drilling Progress Updated for Guerra Al Tirano and Marietta

SPOKANE, WASHINGTON--(Marketwire - Oct. 18, 2007) - Matthew Russell, President of Azteca Gold Corp. (TSX VENTURE:AZG) (the "Company") announces that the Company has received a drill permit from the USDA Forest Service for its Two Mile silver exploration project. The drill permit is for 6 pads of which 3 drill pads will be prepared for diamond core drilling which will begin the week of October 22 and continue through the fourth quarter.

"The last month has been both busy and exciting for Azteca management and staff, as we have launched three targeted drilling programs: the first in the Sierra Madre of Mexico, the second in Mineral County Nevada, and now the third in the Silver Valley of Northern Idaho," explains Russell. "During the fourth quarter investors can expect a steady stream of drilling updates and assay results from these silver and gold projects," adds Russell.

Two Mile - Silver Valley, Shoshone County, Idaho

On August 14, 2007 the Company announced it had entered into an arms-length joint venture agreement (the "Two Mile Joint Venture") to acquire up to 50% of the Silver Valley Two Mile Property. The Two Mile Property is owned by Silver Royal Apex, Inc. of Wallace, Idaho and is comprised of 118 unpatented claims. Diamond core drilling is on track to begin the week of October 22, 2007 on the first of the three pads being readied.

Marietta Project (MAT) - Mineral County, Nevada

Diamond core drilling is underway at the Company's 100% owned Marietta project. The first hole is being drilled at -50 degrees to a target depth of approximately 800 FT to begin testing the gold detachment fault geophysical and geochemical targets identified from recent work done by Quantec Geoscience USA Inc. of Reno, Nevada. First core is expected out of Marietta the week of October 22 with first assays estimated for the second week of November.

Guerra al Tirano (GAT) - Sierra Madre, Temoris, Chihuahua, Mexico

Layne de Mexico continues with the RC drilling at a rapid pace, and has now completed 10 holes or approximately one third of the 5,000 meter program. Over the next month an extension of the main drill road to the south along the Tres de Mayo concession as well as a lower drill road will be accomplished. These additional drill roads will afford access for diamond core and RC drilling over much of the vein strike length on the Tres de Mayo concession, which has not yet been tested in the current program. First assays on the diamond drill core and RC cuttings are expected within 1 to 2 weeks.

This press release has been reviewed by John Mears who is the qualified person for this press release as defined by National Instrument 43-101.

WARNING: the Company relies upon litigation protection for "forward looking" statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary material include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

Shares issued: 98,574,802

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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