Something Positive, page-2

INITIAL MINERAL RESOURCE ESTIMATE FOR LOMA BONITA Highlights: •

150,000 ounces gold and 4,800,000 ounces silver in Mineral Resource estimate •

85% of total gold ounces are within the Indicated Mineral Resource category •

Gold mineralised zone remains open with significant exploration upside •

Loma Bonita resource represents a significant addition to the 27Moz silver resource at Mesa de Plata

Azure’s Managing Director, Mr Tony Rovira, commented: “This mineral resource, estimated in accordance with the JORC Code, of 150,000 ounces of contained gold plus nearly 5 million ounces of contained silver can now be considered, along with the 27 million ounce silver Mineral Resource at nearby Mesa de Plata, in combined production studies. “Similar to the nearby Mesa de Plata silver deposit, the Mineral Resource at Loma Bonita starts at surface and could be mined by conventional open pit methods. Metallurgical testwork has demonstrated that the Loma Bonita gold mineralisation responds favourably to conventional cyanidation testwork simulating both heap leach and milling process route options. “Importantly, we believe this initial Mineral Resource shows the potential upside of Loma Bonita, as the mineralisation remains open and undrilled in several directions.”