Aztec Minerals closes C$6.4M bought-deal private placement

Aztec Minerals Announces Closing of Upsized C$6.4 Million Bought Deal Private Placement Including Concurrent Exercise of Underwriter's Option

VANCOUVER, BC / ACCESS Newswire / September 22, 2026 / Aztec Minerals Corp. (TSX-V:AZT)(OTCQB:AZZTF) ("Aztec" or the "Company") is pleased to announce, further to its news releases dated September 2, 2026 and September 3, 2026, the closing of its previously announced "bought deal" private placement offering (the "Offering") for aggregate gross proceeds of C$6,403,200. Pursuant to the Offering, the Company sold 20,010,000 units of the Company (the "Units") at a price of C$0.32 per Unit (the "Issue Price"). Stifel Canada acted as the sole underwriter and bookrunner (the "Underwriter") in connection with the Offering. Closing of the Offering includes the full exercise of the Underwriter's option to purchase an additional 15% of the Units sold under the Offering at the Issue Price for additional gross proceeds of up to approximately C$835,200.

Each Unit is comprised of one common share of the Company (each a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share (each a "Warrant Share") at a price of C$0.42 for a period of 24 months following the date hereof.

In connection with the Offering, the Company paid the Underwriter a cash commission of C$316,992, equal to 6% of the gross proceeds of the Offering, and issued to the Underwriter 990,600 non-transferable common share purchase warrants of the Company (the "Broker Warrants"), equal to 6% of the number of Units sold under the Offering (in each case, excluding the proceeds paid by, and the Units sold to, certain subscribers, for which the Underwriter did not receive a commission). Each Broker Warrant entitles the holder to acquire one common share in the capital of the Company (a "Broker Warrant Share") at an exercise price equal to the Issue Price at any time on or before September 22, 2028.

The Company intends to use the net proceeds to conduct exploration work on its Tombstone gold-silver & CRD silver-lead-zinc-copper-gold project in Arizona, USA, and its Cervantes gold-copper project in Sonora, Mexico, as well as for general working capital purposes.

The Common Shares and Warrants comprising the Units, Warrant Shares, Broker Warrants and Broker Warrant Shares are subject to a hold period of four months and one day from the closing date of the Offering in accordance with applicable Canadian securities laws.

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