Azure Minerals Limited announced that the Company's ongoing lithium-focused, pegmatite sampling exploration program across the Andover Project (Azure 60% /Creasy Group 40%), located in the West Pilbara region of Western Australia, continues to return very high grades of lithium, up to a maximum value of 4.87% Li2O. Azure has now embarked on an accelerated growth strategy to advance the Company's multi- commodity opportunity on the Andover Project. Lithium exploration will be fast-tracked with a maiden lithium-focused drilling program expected to commence in late February.

Nickel exploration and mine development studies on the Andover and Ridgeline Deposits will also continue through 2023. Azure is fast-tracking the lithium exploration with a team of geologists and technicians dedicated to the operation. An initial drilling program of 30,000m of Reverse Circulation (RC) and diamond core drilling will be undertaken to determine the scale and depth potential of the mineralization already mapped and sampled at surface.

Highest priority drill targets are pegmatite outcrops containing high lithium grades and which demonstrate potential for significant volumes of mineralization. With analytical results from 600 pegmatite samples still pending, it is very likely that many more attractive targets will be identified over the coming months for priority drill testing. Additionally, project-wide geological mapping and rock chip sampling of the, as yet unsampled pegmatites will continue in 2023 and are expected to define further drill targets.

Early stage metallurgical, heritage, environmental, hydrological, and flora and fauna studies will also be undertaken. A total of 709 samples were collected in November-December 2022 as part of the helicopter- supported and ground-based mapping and sampling programs, with 109 samples selected for priority analysis based upon the presence of significant quantities of visible spodumene in the pegmatites, or other interesting geological characteristics. Assays from the remaining 600 samples are expected by mid-February 2023.

Spodumene, the preferred lithium mineral, has been visually identified in many of the pegmatites visited, with very distinctive, coarse-bladed spodumene crystals visually obvious on the weathered surfaces of outcrops. As would be expected, there is a strong association between the presence of significant spodumene and higher lithium grades. Assay results from the 109 priority samples include 85 samples grading over 1% Li2O, 73 samples grading over 2% Li20, 47 samples grading over 3% Li2O and 9 samples grading over 4% Li2O.

Samples containing high grades of lithium were collected from nine discrete pegmatite bodies with close-spaced sampling carried out at locations where significant quantities of spodumene were visually identified in outcrop. At two prospects, AP0009 and AP0010 high grade Li2O between 1.2% and 4.9 % was identified along outcropping pegmatites of 700m and 400m strike lengths respectively. Given these high grades and the substantial strike lengths of these two pegmatites, they represent two of the higher priority drill targets in the near term.