Company Profile

Azure Minerals Limited (ASX Code: AZS) is a mineral exploration company operating in the richly mineralised Sierra Madre Occidental mining province in northern Mexico.  Azure is focused on developing precious and base metal mining projects with the objective of becoming an independent minerals producer.

The Company is committed to short term value-added growth by advancing its high grade Promontorio copper-gold-silver project to production.  Azure has produced an initial JORC Code resource of:

502Kt @ 4.7% copper, 2.1g/t gold & 99g/t silver.

This deposit contains 23,400 tonnes of copper, 34,000 ounces of gold and 1,600,000 ounces of silver, and further drilling will be undertaken to increase these resources.  Metallurgical testwork returned very positive results indicating that a low risk processing route utilising conventional crushing, grinding and flotation technologies will produce:

Elsewhere Azure has a Joint Venture with the Japanese government corporation JOGMEC to target large porphyry copper deposits on Azure’s 100%-owned La Tortuga and Los Nidos properties.  JOGMEC is sole-funding the first US$3M of exploration expenditure within 3 years to earn a 51% interest in this project.

In early 2010, Azure entered into a Joint Venture with the Australian copper miner OZ Minerals Ltd to target large porphyry copper deposits on Azure’s 100%-owned San Eduardo property.  OZ Minerals is sole-funding the first US$3M of exploration expenditure within 3 years to earn a 51% interest in this project. It may then increase its ownership to 70% by spending a further US$10M.

Azure acquired ownership of the El Tecolote project as part of a property swap and joint venture termination agreement with Kiska Metals Corp (formerly Geoinformatics Exploration Inc). The historical El Tecolote Copper-Zinc-Silver Mine was a significant mining and processing venture operated by Grupo Mexico, Mexico’s largest mining company. Production from this mine is recorded as approximately one million tonnes @ 1.8% copper, 6.9% zinc and 50g/t silver.  Production ceased in 1984 due to low metals prices at that time. Potential for substantial mineralisation remains around the old mine workings and elsewhere within the property.

In addition, Azure holds numerous other 100%-owned properties and is seeking farm out / sale opportunities for these non-core properties.