Company Profile

Azure Minerals is an Australian mineral exploration company focused on developing mining projects in Mexico. The Company operates in the richly mineralised Sierra Madre Occidental mining province in northern and central Mexico, where it holds 100% ownership of 10 properties covering 1,258km².

The Company's flagship project is the high grade Promontorio copper-gold-silver property, which has a JORC resource of 502,000 tonnes @ 4.7% Cu, 2.1g/t Au & 99g/t Ag. Metallurgical testwork produced excellent metal recoveries into a high grade copper-gold-silver concentrate, and economic evaluation shows Promontorio can be developed and operated profitably, especially at current metals prices. Development study activities, including environmental impact assessments, are currently in progress. Additional resource expansion drilling at Promontorio and first pass exploration drilling on the nearby Cascada gold-silver prospect will be undertaken in 2012.

Exploration for porphyry copper and skarn copper-zinc deposits is underway on El Tecolote in joint venture with Japanese Government corporation JOGMEC. El Tecolote hosted an historical mining operation which produced 1.4Mt @ 1.9% copper, 7.0% zinc & 47g/t silver. Unmined copper and zinc mineralisation remains around the old mine workings, and it is the Company's belief that further potential exists for additional copper-zinc deposits along strike and at depth. No modern exploration has occurred in the district prior to Azure's current program of geophysical surveys (aeromagnetics, ground magnetics, VTEM and IP), and diamond drilling. JOGMEC may earn a 70% interest in this project by expending US$13 million.