Azteca Gold Corp.

Azteca Gold Corp.

August 07, 2009 16:04 ET

Azteca Gold Corp.: Outstanding Payable Settlement Announced

SPOKANE, WASHINGTON--(Marketwire - Aug. 7, 2009) - Matthew Russell, President of Azteca Gold Corp. (the "Company") (TSX VENTURE:AZG) wishes to announce that the Company has entered into an arm-length agreement to settle $749,926 (US$700,000) in outstanding payables owing to Ruen Drilling Inc. by the issuance of 6,249,384 units. Each unit consists of one common share and a warrant exercisable at $0.25 for 2 years.

These shares will be subject to a voluntary pooling agreement that will see the holder agree to vote with management for a period of 2 years. 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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