Azucar Commences Second Hole at New Porphyry Lithocap Target, El Cobre Project, Mexico

VANCOUVER, B.C. Azucar Minerals Ltd. (“Azucar” or the “Company”) (TSX-V: AMZ; OTCQB: AXDDF) is pleased to announce that it has commenced drilling a second hole into the large lithocap target discussed in its press release of March 10, 2022. As previously announced on May 27, 2022, the first hole passed through typical clay dominant lithocap alteration into phyllic alteration which transitioned to propylitic and at depth intense biotitic potassic alteration and is interpreted to have intersected a peripheral part of a porphyry system beneath the lithocap. The second hole is directed at a shallow angle to the north and has been designed to intersect the high chargeability anomaly at depth, as well as a zone of circular concentric fracturing interpreted to represent an intrusive centre, all within the lithocap alteration footprint.

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