AZG Azteca Gold Corp.

NOT FOR DISSEMINATION OR CIRCULATION IN THE UNITED STATES

Matthew Russell, President of Azteca Gold Corp. (TSX VENTURE:AZG) ("Azteca" or
the "Company") is pleased to announce that the previously announced purchase of
Silver Royal Apex's 50% ownership in the Two Mile Property has been completed.
In addition, 12,000,000 units have been issued in settlement of US$ 600,000
owing to Ruen Drilling Inc.


Azteca 100% Ownership of Two Mile

Azteca has purchased Silver Royal Apex's ("SRA", an Idaho corporation) 50% joint
venture interest in the Two Mile Property. The agreed net value of SRA's 50% JV
interest is Canadian $6.4 million, which is net of a Two Mile Property joint
venture debt of Canadian $2.6 million owed by SRA to Azteca. The consideration
paid by Azteca was 128,000,000 restricted common shares of the Company,
resulting in Azteca owning 100% of the Two Mile Project covering approximately
22 square miles in the Silver Valley of Idaho. The shares issued to SRA will be
restricted from trading until December 11, 2010. 


Justin Rice, retiring President of SRA, has joined the board of directors of
Azteca, and will provide full time consulting services to the Company. 


Debt Settlement

Each of the units issued on the debt settlement consist of one common share and
one warrant exercisable at US$0.125 per share. The shares being issued to Ruen
described above are subject to the previously announced vote pooling agreement
Ruen has entered into with management of Azteca. The shares issued to Ruen will
be restricted from trading until December 11, 2010.


Drilling Continues

The Company's current hole DDH-009 has reached a depth of 3,766 feet, and
approximately one third of the core has been logged. Under the direction of Dick
Nanna, the Company's QP, certain sections of the core will be sent for assaying.



Private placement

The Company will undertake a non-brokered private placement of up to $1,500,000
by the issuance of up to 30,000,000 units, subject to regulatory approval.


Each unit is priced at $.05 and consists of one common share and one common
share purchase warrant exercisable for 2 years from closing. Each warrant
entitles the holder to subscribe for one additional common share for $0.10.
Proceeds will be used to complete drilling, logging and assaying of the current
drill hole DDH-009 at its 100% owned Two Mile project in the Silver Valley,
Idaho, and for general working capital. 


The technical and scientific information contained in this news release has been
reviewed by the Company's QP Richard Nanna, who is also a director of the
Company.


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 by either the Company or its joint
venture partner. 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: 339,461,432

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