AZG Azteca Gold Corp.

NOT FOR DISSEMINATION OR CIRCULATION IN THE UNITED STATES.

Matt Russell, President and CEO of Azteca Gold Corp. (TSX VENTURE:AZG) (the
"Company") announces that the Company has optioned its 100 percent-owned
Marietta Copper/Gold/Silver Project in west-central Nevada ("Marietta Project"
or the "Property") to CMX Gold & Silver Corp. ("CMX") of Calgary, Alberta. CMX
will make an option payment to the Company for the right to earn up to a 50
percent ownership in the Marietta Project by conducting an exploration program
on the Property over two years, as described below.


The Marietta Project has a large land package that encompasses an entire
historical silver district centrally located in the Walker Lane Mineral Belt,
and consists of 13 patented claims and 143 unpatented claims. The Property
contains at least four minor historical silver mines dating back to the 1870s as
outlined in a National Instrument 43-101 technical report that is presently
being prepared. During the 1980s and early 1990s, before the ownership of the
Property was consolidated, different areas of the Property were explored by
companies such as American Gold Resources, Phelps Dodge, Battle Mountain Gold
and ASARCO.


Nevada is home to several rich gold belts, including the Carlin trend, the
Cortez trend, and the Walker Lane Mineral Belt. The Walker Lane hosts both
epithermal precious metals deposits such as the famous Comstock Lode, the
high-grade Eureka Mine, Aurora and others as well as porphyry copper deposits
such as Yerington. According to the U.S. Geological Survey, the Walker Lane has
produced nearly 50 million ounces of gold and 435 million ounces of silver.
Recent discoveries in west Arizona, such as Copperstone, may considerably extend
the length of the belt.


The Marietta Project contains multiple drill targets of both deposit types
associated with the Walker Lane Mineral Belt, which includes the potential for
discovery of one or more porphyries on the Property. Exploration activities
conducted by the Company in 2007 and 2008 included geological mapping, rock chip
and soil sampling, a ground magnetic survey, and induced polarization (IP) and
resistivity surveys. A review of this data by CMX suggests "a possible source
for the hydrothermal fluids that produced the veins (in the area of interest on
the Property) may be a hidden porphyry system with an associated intrusive at
depth." CMX will conduct further work regarding this interpretation.


CMX is developing an exploration program to test a number of interpreted
magnetic and IP anomalies, which will include further data analysis, additional
magnetic surveys, and a drilling program. CMX is preparing an updated National
Instrument 43-101 compliant technical report for the Marietta Project prepared
by CMX's Qualified Person, Dr. Jennifer Thomson.


Marietta Project Option Agreement

CMX has agreed to issue to the Company 2,500,000 common shares of CMX at a
deemed price of US$0.10 per share as an option payment on the Marietta Project.
Pursuant to the option agreement, CMX has agreed to incur an aggregate of
US$2,000,000 in exploration expenses on the Property over a period of two years
from the date CMX's common shares commence trading on a recognized stock
exchange. If the listing does not occur prior to December 18, 2011, then each
party has the right to terminate the option agreement and, in such event, the
Company will return the 2,500,000 common shares of CMX for cancellation.


CMX will earn a 30 percent interest in the Property by spending at least
US$1,000,000 in exploration expenses on the Marietta Project. Further
exploration expenditures of a least US$1,000,000 will earn CMX an additional 20
percent interest in the Property. After earning a 50 percent interest, CMX will
have the option of obtaining operatorship under the joint venture by spending
another US$500,000 within six months of exercising such option. CMX and the
Company have agreed to an area of interest consisting of all mineral claims,
mining leases or other mineral interests lying within a distance of two (2)
kilometers from the external perimeter of the Property.


As announced in a press release issued February 18, 2011, in consideration of
the Company providing CMX with technical information and assisting in the
identification and acquisition of the Clayton Silver Property, the Company
received a finder's fee comprised of 897,280 common shares of CMX and 3,000,000
share purchase warrants. The warrants are exercisable at $0.10 for each CMX
common share for a period of two years from the date the shares of CMX start
trading on a recognized stock exchange. The Company anticipates that after a
financing proposed by CMX, the Company will hold approximately ten percent of
the issued shares of CMX.


The technical and scientific information contained in this news release has been
reviewed by Dick Nanna, a Company director and the Company's Qualified Person
for this press release 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
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.


Shares issued: 358,113,432

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