Ground magnetic survey

The Sara Alicia gold-cobalt mineralised zone contains abundant magnetite, causing a strong and identifiable magnetic signature to the body. This provides Azure with a significant opportunity to explore for extensions of the mineralisation by utilising geophysical techniques, and the company has now completed a ground magnetic survey covering the project area.

The magnetic data is currently undergoing processing and interpretation and is expected to provide valuable assistance with planning of future drilling to further assess the high-grade gold and cobalt zone and to identify additional zones of mineralisation.

UPGRADE OF DSA-03 HIGH-GRADE GOLD DRILL HOLE INTERCEPT

As part of its internal quality control procedures, Bureau Veritas Laboratories (BVL) observed an error in the gold value of sample DH-17314 (hole DSA-03: 17.95 m – 18.80 m). This sample was re- assayed, and BVL subsequently amended the gold result from 2.86g/t Au to 30.5g/t Au.

This change increased the gold grade of the overall mineralised interval to 26.2 m at 9.5g/t Au (previously 8.6g/t Au), and the internal high-grade interval to 12.6 m at 16.8g/t Au (previously 14.9g/t Au).

Mineralisation intersected in hole DSA-05

Drill hole DSA-05 intersected both gold and cobalt mineralisation in separate zones near to surface. Unexpectedly, the hole drilled through an historical mine working of 2.75 m width. High grade cobalt mineralisation is present immediately above (0.3 m at 0.46% Co) and below (2.3 m at 0.32% Co) the mining void. This indicates that historical mining activity was focussed on extracting high grade mineralisation in this area and further drilling is being planned to test for lateral extensions.