Investments of Geologic Resource Partners LLC in Azteca Gold Corp.

    TORONTO, Dec. 20 /CNW/ - Geologic Resource Partners LLC ("Geologic")
announced today that in connection with purchases made during the month of
November 2007 it purchased, for its own account and on behalf of client
accounts over which it has discretionary trading authority, 4,300,000 units of
Azteca Gold Corp. ("Azteca") on November 2, 2007, each unit being comprised of
1 common share and 1 common share purchase warrant, representing an aggregate
4,300,000 common shares and 4,300,000 common share purchase warrants of
Azteca. In addition, on November 20, 2007, Geologic purchased an additional
161,000 common shares of Azteca. Prior to these purchases, Geologic owned
6,464,000 common shares, 2,500,000 deposit receipts which converted into an
additional, 2,500,000 common shares and 1,250,001 warrants and 3,125,001
warrants of Azteca. Geologic's total holdings in Azteca as of today's date are
13,425,000 common shares and 8,675,002 common share purchase warrants
representing approximately 19.30% of the issued and outstanding shares of
Azteca on a partially diluted basis. This represents an increase of 3.27% of
Geologic's holdings of Azteca.
    Geologic has purchased these securities for investment purposes, and may
increase or decrease its beneficial ownership of securities of Azteca
depending upon future market conditions.

    Geologic is an investment advisory firm specializing in precious metals,
industrial metals, and energy minerals equities.

For further information:

For further information: George Ireland, Chief Investment Officer, at
(617) 424-9900

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