Azteca Gold Announces Closing of Financing

NOT FOR DISTRIBUTION TO OR FOR DISSEMINATION IN THE UNITED STATES

Matthew Russell, President of Azteca Gold Corp. (TSX VENTURE:AZG) ("Azteca" or
the "Company") wishes to announce the closing of its current arms-length private
placement as of Friday, September 3, 2010. 


Corporate Update

Azteca closed its current financing at CAD $223,600, selling a total of
4,472,000 Units. Each Unit was priced at CAD $.05, and consisted of one share of
common stock and one purchase warrant. Each warrant entitles the holder to
purchase one common share for CAD $.10 for a period of two years from Closing.
Securities issued will be restricted from trading for a period of four months
from Closing.


Funds from this private placement will be used for drilling and assaying
expenses at the Company's 100% owned Two Mile Project, as well as for general
corporate purposes.


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.