Promontorio Update

Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) provides results of the 2016 drilling program at the Promontorio Project (“Promontorio” or the “Project”) and advises that Kennecott Exploration Mexico S.A. de C. V. (“Kennecott”) has elected not to complete the Stage 2 commitments of the Earn in and Joint Venture Agreement (“Agreement”) required to earn a 51% interest in the Project. Azure retains 100% ownership and has resumed control of all activities.