Ann: Excellent Results from Andover Metallurgical Testwork, page-5

PREMIUM NICKEL AND COPPER CONCENTRATES
PRODUCED IN ANDOVER METALLURGICAL TESTWORK
Recoveries up to 93.5% of nickel and 94.7% of copper achieved
•Initial metallurgical testwork confirms Andover Ni-Cu sulphide ore has
excellent response to conventional sulphide flotation
•Separate marketable nickel and copper concentrates achieved by selective
flotation, producing high-grade concentrates of:
Nickel concentrate: 15.7% Ni & 0.57% Co; and
Copper concentrate: 25.5% Cu
•Internationally marketable bulk concentrate containing a combined grade of
12.4% (Ni% + Cu%) was also produced
•Clean nickel and copper concentrates containing low levels of deleterious
elements make both concentrates attractive to market

Commenting on the success of the testwork program at Andover, Azure’s Managing Director, Mr Tony Rovira
noted, “These very positive results from the Stage 1 testwork program indicate that we will be able to produce
high quality, high grade, clean concentrates with excellent recoveries and I am confident that further
optimisation studies will continue to deliver additional improvements. “Metallurgical factors and results play a critical role in evaluating project viability, and to have produced
marketable nickel and copper concentrates using a relatively simple and robust industry-standard flow sheet,
at such an early stage, bodes well for the project as we move through the development studies process.”