Azteca Gold Corp. Announces Proposed Public Offering and Warrant Extension

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 is undertaking, subject to regulatory
approval, a non-brokered private placement of up to $1,500,000 by the issuance
of up to 30,000,000 units at $0.05 per unit. Each unit will consist of 1 common
share and 1 common share purchase warrant entitling the holder to acquire an
additional share for $0.10 for a period of 2 years from closing. Proceeds will
be used for the Company's ongoing comprehensive check assay program,
interpreting results to date on the Two Mile project and for general working
capital.


Insiders have provided approximately $177,500 in loans to the company at 6%
interest to initiate the check assay program. 


The Company also announced that it has, subject to regulatory approval, extended
5,572,407 total warrants exercisable at $0.35, of which 3,525,807 were going to
expire on April 17th and 2,046,600 on May 13th, 2011, for another one year,
respectively.


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