News Update
Azteca Gold Corp.: Drill
Permits Received for Silver Valley Two Mile Project and Drilling
Progress Updated for Guerra al Tirano and
Marietta
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October 18, 2007
Shares issued: 98,574,802
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Symbol: TSX-V:AZG
|
Spokane, Washington -
Matthew Russell, President of Azteca Gold Corp.
(the "Company") announces that the Company has received a drill
permit from the USDA Forest Service for its Two Mile silver exploration
project. The drill permit is for 6 pads of which 3 drill pads will
be prepared for diamond core drilling which will begin the week of
October 22 and continue through the fourth quarter.
"The
last month has been both busy and exciting for Azteca
management and staff, as we have launched three targeted drilling
programs: the first in the Sierra Madre of Mexico, the second in Mineral
County Nevada, and now the third in the Silver Valley of Northern
Idaho," explains Russell. "During the fourth quarter
investors can expect a steady stream of drilling updates and assay
results from these silver and gold projects," adds Russell.
Two
Mile - Silver Valley, Shoshone County, Idaho
On
August 14, 2007 the Company announced it had entered into an arms-length
joint venture agreement (the "Two Mile Joint Venture") to
acquire up to 50% of the Silver Valley Two Mile Property. The Two Mile
Property is owned by Silver Royal Apex, Inc. of Wallace, Idaho and is
comprised of 118 unpatented claims. Diamond core drilling is on
track to begin the week of October 22, 2007 on the first of the three
pads being readied.
Marietta
Project (MAT) - Mineral County, Nevada
Diamond
core drilling is underway at the Company's 100% owned Marietta
project. The first hole is being drilled at -50 degrees to a target
depth of approximately 800
FT to begin testing the gold detachment fault
geophysical and geochemical targets identified from recent work done by Quantec Geoscience USA Inc.
of Reno, Nevada. First core is expected out of Marietta the week of
October 22 with first assays estimated for the second week of
November.
Guerra al Tirano
(GAT) - Sierra Madre, Temoris, Chihuahua,
Mexico
Layne
de Mexico continues with the RC drilling at a rapid pace, and has now
completed 10 holes or approximately one third of the 5,000 meter
program. Over the next month an extension of the main drill road to
the south along the Tres de Mayo concession as well as a lower drill road
will be accomplished. These additional drill roads will afford
access for diamond core and RC drilling over much of the vein strike
length on the Tres de Mayo concession, which has not yet been tested in
the current program. First assays on the diamond drill core and RC
cuttings are expected within 1 to 2 weeks.
This
press release has been reviewed by John Mears who is the qualified person
for this press release as defined by National Instrument 43-101.
For further information, please contact:
Azteca Gold Corp.
Matthew Russell,
President
Telephone: 1-509-464-0172
Email: info@azteca-au.com
Website: www.azteca-au.com
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.
The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy
of this release.