Projects

100% OWNED PROJECTS

Azure, through its wholly-owned Mexican subsidiary Minera Piedra Azul SA de CV, has implemented a continuous program of regional exploration and target identification in northern Mexico in order to acquire 100% owned properties, both through application for mineral concessions over vacant ground and, where appropriate, by purchasing advanced stage projects. The effectiveness of this program is enhanced by Azure's establishment of an exploration and administration centre in Hermosillo, the capital of Sonora, where the Company has based its team of exploration geologists.

In May 2008, Azure secured an option to purchase 100% ownership of the Promontorio Project in the state of Chihuahua, where an historical resource of 1M tonnes @ 4.0% copper, 2.4g/t gold & 63g/t silver exists. Azure is undertaking an intensive drilling campaign to produce a JORC Code compliant resource and to further expand the resources, and has made a fast track start on a pre-feasibility study.

Throughout Mexico there are many areas containing strong evidence of mineralisation, including historical mine workings, anomalous surface geochemistry, and mineralized drill intercepts, which are currently vacant and available for staking. Azure has successfully applied for, and been granted, eight new 100%-owned mineral concessions in highly prospective mineral districts.

The Company is continuing its ongoing target generation program by monitoring several areas of interest, which it expects will result in the identification and staking of further prospective properties.

JOINT VENTURE PROJECTS

Azure has earned an initial 51% interest in 13 projects in Sonora, Mexico in a joint venture with Canadian-listed Geoinformatics Exploration Inc (TSX-V: GXL). Exploration has succeeded in identifying significant molybdenum mineralisation at the Pozo de Nacho Project and zinc-silver-lead mineralisation at the Los Chinos Project.

The Company will be undertaking a deep diamond drilling program at Pozo de Nacho during 2008, with a maiden JORC Code compliant resource expected in the 4th Quarter.

Azure successfully completed the first ever drilling campaign at Los Chinos during the 1st Quarter of 2008, with excellent results.  Extensive zinc-rich base and precious metal mineralisation was intersected, with all holes drilled identifying mineralisation.  The multiple mineralised horizons present at the property indicate a large mineralisation system with the potential to host significant polymetallic sulphide deposits.