Forward Event Stocks

[EdF]

AZMN 1.18 (2 events) May&June 2006

GLENDALE, Ariz., April 19 /PRNewswire-FirstCall/ -- Azco Mining Inc.
(OTC Pink Sheets: AZMN), a U.S.-based mining and exploration enterprise
focused on gold, silver, copper and industrial minerals, provided today an
update of the Ortiz engineering and resource review underway by Mineral
Advisory Group, LLC (MAG) and Independent Mining Consultants, Inc. (IMC).
Azco CEO Dr. Pierce Carson said, "With gold prices now more than $600
per ounce and at 26-year highs, we have received many inquiries from
shareholders and interested parties asking about our progress at Ortiz and
the latest project valuations. MAG's original scoping study concluded that
mining of an initial 1.0 million ounces of gold from the Carache and Lucas
deposits would yield very favorable economic returns. That study, the
results of which we announced December 13, 2005, also recognized
considerable upside potential in estimations of contained ounces of gold
and grades.
"Following the promising results from the original study, we
commissioned MAG and IMC to carry out additional work aimed at further
optimizing the project's already attractive economics. We believe these
studies are likely to result in an increase in the total number of ounces
contained in the new conceptual pits, an increase in the average grade
processed and a decrease in the operating cost per ounce of gold produced.
We anticipate completion of these studies in June 2006 and will release the
results as soon as we receive them."
With respect to project valuation, MAG's original financial model
showed production of 925,036 ounces of gold over 10 years at an average
estimated operating cost of $230 per ounce of gold recovered. The capital
cost was estimated at $38.2 million. At a gold price of $500 per ounce, net
operating pre-tax cash flow would total $180.9 million. At a gold price of
$600 per ounce, net operating pre-tax cash flow after payment of all costs
would increase to $270 million.
Carson said, "In addition to gold, mineralized material in the Lucas
conceptual open pit contains approximately $100 million in copper valued at
current copper prices. The studies also will assess the economics of
recovering copper as well as gold from the Lucas deposit. On the basis of
present information, we are optimistic that a high percentage of this
copper will be recoverable and could form a significant addition to the
project's cash flows.
"All of these factors, including the current higher gold and copper
prices and the excellent potential for work underway to increase the ounces
of contained gold in the conceptual open pits and to decrease operating
cost per ounce of gold recovered, contribute to a substantially increased
valuation of the Ortiz project.
"In addition to Ortiz, Azco continues to evaluate other precious metals
acquisition opportunities. We continue to look for new ways to accelerate
our acquisition agenda, with a goal of further increasing the company's
precious metals resources. We are making significant progress in that
regard.
"We recently completed $2.5 million in financing under favorable terms
with supportive institutions, which improved our financial position to
advance the Ortiz gold project and pursue other acquisition opportunities.
"Azco's auditors are completing the final work necessary to bring our
financial filings into full compliance. We expect to regain currency in May
2006 then immediately apply to resume trading of Azco's stock on the OTC
Bulletin Board.
"I continue to believe the next several months will be an exciting time
in the precious metals sector and for Azco as we build our precious metals
asset base and focus on a production profile. Thank you for your patience,
trust and support," Carson said.
About Azco Mining Inc.
Azco Mining is a U.S.-based mining and exploration company focused on
acquiring and developing gold, copper and industrial mineral properties.
The company owns mineral lease rights to the Ortiz gold property in New
Mexico, believed to contain 2 million ounces of gold; a high-quality mica
mine and processing facility near Phoenix; and a world-class resource of
micaceous iron oxide (MIO) in La Paz County, Ariz. Azco intends to build a
portfolio of high- quality, diversified mineral assets with an emphasis on
precious metals. To learn more about Azco Mining Inc., visit
http://www.azco.com .
An investment profile about Azco Mining may be found at
http://www.hawkassociates.com/azco/profile.htm .
For investor relations information regarding Azco Mining, contact Frank
Hawkins or Julie Marshall, Hawk Associates, at [phone], e-mail:
[e-mail] . An online investor kit including press releases,
current price quotes, stock charts and other valuable information for
investors may be found at http://www.hawkassociates.com and
http://www.americanmicrocaps.com .
The information contained herein regarding risks and uncertainties,
which may differ materially from those set forth in these statements, in
addition to the economic, competitive, governmental, technological and
other factors, constitutes a "forward-looking statement" within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended, the Private Securities
Litigation Reform Act of 1995 and is subject to the safe harbors created
thereby. While the company believes that the assumptions underlying such
forward-looking information are reasonable, any of the assumptions could
prove inaccurate and, therefore, there can be no assurance that the
forward-looking information will prove to be accurate. Accordingly, there
may be differences between the actual results and the predicted results,
and actual results may be materially higher or lower than those indicated
in the forward-looking information contained herein.



SOURCE Azco Mining Inc.
Web Site: http://www.azco.com