Azteca Gold Corp.

Azteca Gold Corp.

August 21, 2009 20:07 ET

Azteca Announces First Closing of Private Placement

SPOKANE, WASHINGTON--(Marketwire - Aug. 21, 2009) - Matthew Russell, President of Azteca Gold Corp. (TSX VENTURE:AZG) (the "Company") wishes to announce that the Company has performed a first closing of its current non-brokered private placement, in the amount of CAD $145,500 for the issuance of 1,212,500 total units. No commissions were paid on these funds.

Each unit is priced at $.12 and consists of one common share and one common share purchase warrant entitling the holder to subscribe for one additional common share for $0.25 for a period of 2 years from closing. Proceeds will be used to fund the Company's on going exploration program at its 50% owned Two Mile project in the Silver Valley, Idaho, and for general working capital. The issuance of these securities is subject to regulatory and board approval.

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: 182,994,331

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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