Azure Minerals Limited (“Azure” or “the Company”) is pleased to report that it has received final assays for all holes from the recently completed exploration drilling program at the Company’s 100%-owned Cascada deposit.

The drilling program comprised one hole extension (APR-DD-110ext) and ten new holes (APR-DD-114 to 123) for a total of 1,541 m, and had three objectives:

         1.Test for mineralized extensions of the Cascada copper-gold-silver deposit

         2. Test for breccia-hosted gold mineralization to the west and south of Cascada

         3. Finalise data requirements for the maiden Cascada mineral resource estimate

From the new assays received, the highlight was a very strong, gold-rich drill intercept from hole APR-DD-120, located adjacent to the Cascada copper deposit:

105.2 m @ 2.05 g/t Gold including 26.5 m @ 5.7 g/t Gold from surface

This intercept, together with the many others that have intersected significant gold mineralization around Cascada, strongly supports Azure’s belief that Cascada has the potential to host a major gold deposit in its own right, in addition to the central high grade copper deposit.  Other major gold deposits in the nearby district include Pinos Altos (3.1M oz Au & 89M oz Ag) and Concheño (1.4M oz Au & 67M oz Ag).

Cascada Results

Hole APR-DD-120 intersected 105.2m @ 2.04 g/t Au from surface, which includes a higher grade gold intercept in the near-surface zone of 26.5m @ 5.7 g/t Au.  This very significant gold intercept is located up-dip of the previously reported high grade mineralization in APR-DD-098 (19.0m @ 1.3 g/t Au and 4.9% Cu). The higher grades of gold in the near-surface zone, together with lower grades of copper (16.8m @ 0.3% Cu) show the effects of weathering and consequent metal remobilization, leading to enrichment of gold an ddepletion of copper in the upper 20-30 metres above the Cascada copper deposit.

Holes APR-DD-121 to 123 tested for shallow extensions to the east of the Cascada deposit.  Narrow zones of alteration with copper oxide and sulphide mineralization were observed in the core with low to moderate copper and gold grades returned, suggesting the mineralized system is weakening to the east.  It is possible that this drilling was too shallow, and further work is needed to determine whether the mineralized system continues to the east at depth beneath the near surface depletion zone.

To assist with visualization of the Cascada mineralized zones, three dimensional models are shown in Figures 1 and 2.

Breccia Results

Drilling into the breccia zone, located to the west and south of the Cascada copper deposit, has confirmed this body has a northwest-southeast strike length in excess of 400m and a true width of 40-60m. Breccia was intersected in all seven holes with variable widths and grades of gold mineralization being returned, ranging from anomalous to potentially economically significant, including:

• APR-DD-110: 187.2m @ 1.06g/t Au
• APR-DD-114: 53.4m @ 0.7g/t Auy
• APR-DD-116: 33.6m @ 1.6g/t Au
• APR-DD-117: 9.6m @ 0/7g/t Au

Drilling confirms that the breccia is anomalous in gold throughout, while hosting zones that are strongly enriched in gold.  These enriched zones are specifically present where the Cascada and Promontorio structures and veins intersect the breccia and have potential for high grade shoots (for example: APR-DD-110 (8.9m @ 5.3g/t Au within an overall intercept of 43.3m @ 2.5g/t Au).  The breccia zone remains relatively untested and further investigation is required to understand the geological controls and outline the overall gold mineralisation potential.

Next Steps

Currently, Azure is in the process of taking bulk density measurements of the core from recent drilling.  Once this is completed, the Company will undertake a JORC-compliant Mineral Resource for the Cascada copper deposit, which is expected to be completed in Q4 2014.  Meanwhile, Azure will also investigate what further work may be required before a stand-alone gold resource can be estimated.

-ENDS-

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