Azteca Gold Corp.
TSX VENTURE : AZG

Azteca Gold Corp.

February 24, 2009 15:38 ET

Azteca Two Mile Update: DDH-006 and 005B Intersecting Stock-Works

SPOKANE, WASHINGTON--(Marketwire - Feb. 24, 2009) - Matthew Russell, President of Azteca Gold Corp. (TSX VENTURE:AZG) ("Azteca" or the "Company") announces drilling and assaying progress on the Company's 50% owned Two Mile Project near Osburn, Idaho in the historic Silver Valley.

"Since reporting massive-type zinc-silver-lead mineralization in hole DDH-005A in mid-January of this year, the focus of our efforts for the remainder of 2009 has become to both define the extent of the massive mineralization on our 22 square mile land position, and to define a reportable mineral resource in terms of tons of such ore materials present as quickly as possible," comments Mr. Russell.

"We are continuing to intersect disseminated and stock-works type mineralization in DDH-006 and DDH-005B, which appears to be very similar to the zones immediately above the massive zone in DDH-005A," comments Mr. Russell. "Our target in both holes remains massive-type mineralization of the tenure intercepted in hole DDH-005A," Russell further emphasized.

DDH-006

Vertical diamond drill hole DDH-006 was collared the week of December 8, 2008 at N5264576, E576967, and elevation 3,060 FT. Current depth is 5,607 FT, or 2,547 FT below sea level. Disseminated mineralization was initially intersected at approximately 2,300 FT and, at approximately 3,575 FT, stock-works type veining was first intersected and has been encountered intermittently to our initial projected target depth (TD) of 5,000 FT.

"We initially projected a TD of 5,000 FT for this second parent hole in our present drilling program," explained Mr. Russell. "However, while we initially intersected these zones at shallower depths, the stockworks veining zone is thicker here than in hole 005A a kilometer to the east. We decided to extend the TD and continue drilling due to the visibly apparent strength of the mineralization in the stock-works veining at 5,000 FT. At 5,600 FT, the mineralization became continuous and intermittently semi-massive," said Mr. Russell.

The Company is awaiting assay on the intervals 4,607 - 4,637 FT and 5,327.5 - 5,397 FT and is continuing to prepare and send a contiguous interval from 5,397 FT to current depth for assay.

The Company wishes to stress that, although the purpose of hole DDH-006 is to develop a mineral resource on-strike with the Two Mile Fault 1 kilometer to the west of the massive zinc-silver-lead mineralization intersected in hole DDH-005A, the intersection of a similar mineralized stratigraphic sequence including promising stock-works type veining and semi-massive mineralization does not insure intersection of similar type zone of massive mineralization.

DDH-005B

Wedge-off hole DDH-005B is currently at a depth of approximately 7,675 FT and has been preliminarily surveyed to be approximately 165 FT to the NW of parent hole DDH-005A. Disseminated and stock-works type mineralization has mirrored that of the parent hole from the wedge off point at 3,960 FT to current depth and, at approximately 7,600 FT, the stock-work veining has increased appreciably in a similar fashion to how DDH-005A increased appreciably at approximately 7,500 FT.

"If we intersect the massive zone at 7,800 - 8,000 FT as expected, we may decide to extend the TD on this wedge-off hole at least 700 FT past the parent hole to perhaps 9,500 FT, in order to test for a suspected second significantly mineralized zone," said Mr. Russell.

The Company wishes to stress that, although the purpose of hole DDH-005B is to develop a mineral resource on-strike with the Two Mile Fault of the massive zinc-silver-lead mineralization intersected in hole DDH-005A, the intersection of a similar mineralized stratigraphic sequence does not insure intersection of similar type zone of massive mineralization.

The information contained in this news release has been reviewed and approved by Matthew Russell, President and CEO, the Company's Qualified Person as defined in 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 materially include, but are not limited to, changes in laws or regulations, inaccurate assumptions concerning the exploration for and development of mineral deposits and timing related to receipt of the preliminary assays. 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: 169,955,907

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

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