Azure Minerals Limited announced continued drilling success at Target Area 1 with the intersection of numerous exceptionally thick, lithium- rich and spodumene-bearing pegmatite intervals within AP011. These assay results further confirm that the Andover Project (Azure 60% /Creasy Group 40%) has the potential to become a lithium project of global significance. The Andover pegmatite swarm extends over an area of 9km (east-west) and up to 5km (north- south) and comprises hundreds of outcropping pegmatites with many containing high lithium grades identified from extensive surface sampling.

Since lithium-focused exploration drilling commenced at Andover in March 2023, 192 diamond core holes have been completed for 57,878.4m, 97 RC holes completed for 19,267m, and 27 holes comprising RC pre-collars and diamond tails completed for 12,070.7m, for a total of 89,216.1m. Results received to date and others expected over the next few months will be incorporated in a Mineral Resource Estimate (MRE) which is expected to be completed in second quarter of 2024. Most recent assay results from drilling of the AP0011 pegmatite have returned some of the best mineralised intersections to date at Andover.

Additionally, more recent drilling has intersected very broad crystalline spodumene mineralisation within AP0011 in several holes, with assay results pending. The width of visual spodumene mineralisation exceeded 100m in nine drillholes. Two holes reported in this announcement, ANDD0276 and ANDD0295, drilled through more than 130m of mineralisation, exceeding more than 100m of True Width (TW).

Holes ANDD0276, ANDD0295 and ANDD0309 were designed to delineate the extents of the thickened mineralized zone around hole ANRD0017 which intersected 209.4m @ 1.42% Li2O with an estimated TW of 134.6m. All three holes hit exceptional thicknesses of mineralisation with 135.2m @ 1.12% in ANDD0276 (TW approximately 117.0m), 165.2m @ 1.33% Li2O in ANDD0295 (TW approximately 141.8m), and 150.6m of visual spodumene mineralisation in ANDD0309 (TW approximately 135.5m). Up-dip from these hits, ANRD0162 intersected 125.2m of spodumene mineralisation (TW approximately 116.1m) in between the 112.4m @ 1.05% Li2O intersected in ANDD0215 and 100.2m @ 1.24% Li2O intersected in ANDD0221 (14 July 2023).

Approximately 90m along strike to the west of ANRD0162, holes ANDD0368 and ANDD0353 intersected 131.7m (TW approximately 114.0m), and 87.0m (TW approximately 75.8m) of spodumene mineralisation respectively. Additionally, ANDD0386 intersected 143.1m (TW approximately 115.8m) of spodumene mineralisation approximately 100m down-dip from ANDD0353 and ANDD0244 (132.3m @ 1.25% Li2O). These results have significantly expanded the thickened portion of the mineralisation in the central part of the AP0011 pegmatite.

In the eastern portion of AP0011, ANDD0305 and ANRD0154 were drilled down-dip of ANDD0201 (67.2m @ 1.56 % Li2O), intersecting 97.6m @ 1.19% Li2O, and 111.2m of visual spodumene mineralisation respectively, highlighting the consistency of the mineralisation which remains open at depth. Up-dip from these hits, ANDD0204 (originally collared in March 2024) was extended intersecting 54.8m @ 1.42% Li2O in between ANDD0208 (105m @ 1.26% Li2O) and ANDD0210 (63.7m @ 1.15 % Li2O), successfully demonstrating the strong continuity of lithium mineralisation within the pegmatite. ANDD0318, ANDD0327, ANDD0378, ANDD0346, and ANDD0385 were drilled on a line approximately 60m to the west-northwest of ANDD0228 (183.1m @ 1.25% Li2O), ANDD0238 (167.7m @ 1.31% Li2O; ASX: 21 August 2023) and ANDD0239 (104.7m @ 1.61% Li2O) to test the extents of the thickened mineralisation in the west.

ANDD0318 returned 98.8m @ 1.02% Li2O (TW ~89.6m) including a high grade interval of 41.8m @ 1.60% Li2O. Thick intervals of spodumene-bearing pegmatite were also observed in ANDD0327 (89.9m, TW approximately 61.3m), ANDD0378 (128.7m, TW approximately 118.6m), ANDD0346 (total of 91.3m, TW approximately 84.4m), and ANDD0385 (125.9m, TW approximately 111.1m). A combination of assay results and visually observed spodumene mineralisation have expanded the thickened portion of the pegmatite along strike and down-dip where the mineralisation remains open at depth.

The westernmost intersection in AP0011 consisted of hole ANDD0277 intersecting 20.5m @ 0.84% Li2O, however due to technical difficulties the hole had to be ended in mineralisation. The hole was re-drilled as ANRD0146 which intersected 44.3m @ 0.80% Li2O including a higher-grade interval of 14.6m @ 1.42% Li2O. Approximately 100m to the east, ANRD0141 intersected 13.7m @ 1.34% Li2O and 29.8m @ 1.33% Li2O and ANRD0145 intersected 34.3m @ 1.26% Li2O.

The mineralisation remains open down-dip and once again appears to be thickening at depth with ANRD0156 intersecting 106.8m of visual spodumene mineralisation approximately 170m down dip of ANDD0141. The deepest down-dip intersections across the entire strike of AP0011 demonstrate that the mineralisation remains open at depth. From east to west the deepest down-dip drill holes intersected 97.6m @ 1.19 Li2O in ANDD0305, 69.4m @ 0.80 Li2O (ANRD0131), 75.6m of visual spodumene mineralisation (ANDD0377), 57.3m of visual spodumene mineralisation (ANDD0352), 69.9m @ 1.22 Li2O (ANRD0132), 89.9m of visual spodumene mineralisation (ANDD0327), and 106.8m of visual spodumene mineralisation ANRD0156.

These results are continuing to expand the extensive lithium mineralisation defined in AP0011 both down-dip and along strike to the west. Infill drilling is demonstrating the strong continuity of the mineralisation as well as significantly expanding the extent of thickened portions of the pegmatite with mineralised true widths over 100m.