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Azucar Minerals Commences Drilling at the El Cobre Project, Mexico

(June 13, 2018)

VANCOUVER, British Columbia, June 13, 2018 (GLOBE NEWSWIRE) -- Azucar Minerals Limited ("Azucar" or the "Company") (TSX-V:AMZ) (OTCQX:AXDDF) is pleased to announce that drilling has commenced at its El Cobre porphyry copper-gold project in Veracruz State, Mexico. The last few months have been spent preparing for this drill campaign with surface and soil geologic and alteration focused mapping and sampling, core relogging and drill site preparation work. Drilling is currently underway at the Norte zone and at the very north end of the Villa Rica target which is located south of the Norte zone. At the Norte zone, step out and infill drilling has been planned to define the size and provide appropriate drill density for potential resource definition in the future. The current drilling at Villa Rica is focused on the Naranjo zone, a new area of exposed porphyry alteration and mineralisation located approximately 500 metres north of the previous Villa Rica drilling and about 1.2 kilometres south of the Norte Zone. The Company anticipates drilling to be underway with one or more rigs throughout the course of 2018 in order to test all targets currently defined.

J. Duane Poliquin, Chairman of Azucar commented, “We are very excited to commence what we anticipate being a comprehensive two year intensive drill program at the El Cobre project. The results over the past two years have shown the potential for multiple porphyry centres over a four kilometre strike. We look forward to reporting drill results as we move forward.”

About the El Cobre Project

The El Cobre Project has a total area of approximately 7,000 hectares and is located adjacent to the Gulf of Mexico, about 75 kilometres northwest of the major port city of Veracruz, Mexico and has uniquely excellent infrastructure. The project area is situated 200 metres above sea level with extensive road access and is located less than 10 kilometres from a power plant, highway, gas line and other major infrastructure (see attached map). Major power lines cross the property area.

The four copper-gold porphyry targets currently known within the El Cobre Project, Encinal, El Porvenir, Norte and Villa Rica are defined by distinct Cu-Au soil anomalies, discrete, positive magnetic features and a large IP chargeability anomaly. The largest target area is the Villa Rica Zone and apart from preliminary work in 2017 has never been drill tested in past programs. The targets results to date are summarised below and a map is attached.

 El Porvenir Zone: Drilling has demonstrated that the system persists at least to 400 m depth. Significant copper and gold grades were intersected such as 0.16% Cu and 0.39 g/t Au over 290 m in hole DDH04CB1. In addition, hole EC-13-004 intersected 0.23% Cu and 0.36 g/t Au over 106 m, to a depth of 504 m, again indicating potentially significant mineralization at depth. Results from minimal drilling in 2017 include hole EC-17-040 which intersected 108.00 metres grading 0.88 g/t Au and 0.29% Cu, and hole EC-17-044 which intersected 40.25 metres grading 0.50 g/t Au and 0.25% Cu.

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