Azteca Gold Corp.

Azteca Gold Corp.

April 17, 2009 19:14 ET

Azteca Gold Corp.: Announces First Closing of Private Placement

SPOKANE, WASHINGTON--(Marketwire - April 17, 2009) - Matthew Russell, President of Azteca Gold Corp. (the "Company") (TSX VENTURE:AZG) wishes to provide an update on its current private placement.

Further to the Company's March 11, 2009 press release, a total of 3,525,807 units were issued pursuant to a first closing on April 17, 2009, for total gross proceeds of CAD $705,161. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one common share for $0.35 for a period of 2 years from the date of closing.

"We have decided to hold a first closing on our present financing today at the request of investors who have come in over the last several weeks in order to insure that they receive the present unit pricing," said Mr. Russell. "Further, for a number of reasons, management and Board members were barred from personally participating in this first closing even though insiders have participated in every financing the Company has held to date."

Funds from this private placement will be used for drilling and assaying expenses at the Company's 50% owned Two Mile Project as well as for general corporate purposes.

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: 174,347,157

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

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