ASX / MEDIA ANNOUNCEMENT 27 June 2007 AZURE RAISES $3.0 MILLION TO CONTINUE EXPLORATION ACTIVITIES IN MEXICO Mexican focused precious and base metals explorer, Azure Minerals Ltd (ASX: AZS) today announced it had reached agreement with Patersons Securities Limited and Foster Stockbroking Pty Ltd to raise $3 million through a placement of 20 million ordinary shares to institutional and sophisticated investors at $0.15 per share. Patersons have been appointed as Lead Manager to the placement. The issue is subject to shareholder approval which will be sought at a General Meeting of Azure expected to be held in early August 2007. The funds will be used to continue the company’s aggressive exploration programme in Mexico and follow up results from the current stage two drilling program which is nearing completion and for administration expenses. Future activities are planned to include: • Follow up drilling at the Jagüey high grade silver-lead-zinc project where drilling intercepts to date include: • 0.7m @ 3,180g/t Ag, 12.8% Pb and 6.2% Zn • 2.5m @ 322g/t Ag, 7.0% Pb and 7.9% Zn • 0.5m @ 728g/t Ag, 2.4% Pb and 4.0% Zn • Further exploration and drilling at La Providencia where sampling has identified a large anomalous area of 2,500m by 1,000m containing high grade zinc, lead and silver mineralisation. High grade assays from surface sampling in this area included: • Zinc 45.4% & 35.9% • Lead 5.3% & 4.7% • Silver 532g/t & 238 g/t • Gold 4.8g/t & 2.2 g/t • Copper 0.95% • Investigation of the mineralised breccia systems at Potreritos where drilling to date includes: • 2m @ 1.2% Cu and 16.3 g/t Ag • 26m @ 0.55% Cu and 4.4 g/t Ag • 4.6m @ 4.9% Cu and 38.2 g/t Ag Commenting on the capital raising, Azure’s Executive Chairman, Mr Tony Rovira said “The last six months have been an exciting and productive time for the Company and this raising will allow us to maintain the momentum through further exploration success and project acquisition”. -ENDS
AZS Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
