SPOKANE, WASHINGTON--(Marketwire - Aug. 14, 2007) - Matthew Russell, President of Azteca Gold Corp. (TSX VENTURE:AZG) (the "Company") announces that the Company has entered into an arms-length joint venture agreement (the "Two Mile Joint Venture") in respect to the Silver Valley Two Mile Property located in Shoshone County, Idaho. The Two Mile Property is owned by Silver Royal Apex, Inc. of Wallace, Idaho and is comprised of 118 unpatented claims. Recent geophysical work has identified several potential sulfide targets which will be the focus of a diamond drill exploration program for primarily silver by the Two Mile Joint Venture. "We have a diamond drill rig coming available and our permits from the Forest Service are expected within 30-45 days," said Russell.

The Company paid US $250,000 on signing and has agreed to spend up to US $2,500,000 over 30 months in order to earn a 50% interest in these claims..

This press release has been reviewed by John Mears, Vice-President of the Company, who is the qualified person for this project 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.