AZCO Mining Acquires Two Gold Properties; Company Reports it is On-Track Towards Achieving Positive Cash Flow.

Business Editors

GLENDALE, Ariz.--(BUSINESS WIRE)--July 23, 2002

AZCO Mining, Inc. (AMEX:AZC), a rapidly growing industrial minerals, mining and metals enterprise, today announced that it has acquired land positions in north central Nevada within the northern regions of the Carlin and Getchell gold trends. The mineral claim blocks are adjacent to two underground producing gold mines that have gold reserves in the millions of ounces. Additional terms of the agreement were not disclosed.

The project area has seen limited exploration for surface gold deposits and remains untested below a depth of 300 feet. The Company is exploring for high-grade gold deposits occurring within and adjacent to blocks of lower plate limestone, which have been faulted or domed close to the surface. The Company plans to commence exploratory work once its Black Canyon Mica Project has achieved positive cash flow and after its Micaceous Iron Oxide Project's feasibility stage has started.

Lawrence Olson, President and CEO of AZCO Mining, Inc. stated, "We are pleased to announce this new property acquisition, which bolsters our growing project portfolio. Although AZCO remains committed on focusing on its Black Canyon Mica Project, it is also keeping its eye on the future. This new property acquisition is consistent with our long term plans for solid and consistent growth."

To be added to AZCO Mining's investor e-mail and fax lists, please contact Mark Daugherty of Investor Relations International at [e-mail].

About AZCO Mining, Inc.

AZCO Mining is a U.S. mining company engaged in mining exploration and development with a general business strategy to acquire and develop mineral properties amenable to low-cost production. The Company is focused on producing Muscovite Mica from its 100 percent-owned Black Canyon Mica project located in Arizona. Construction has been completed on the mica project, and limited production is underway. Marketing efforts are concentrated on the sale of mica-filled plastic pellets, developed by AZCO, to be used in the production of reinforced plastics. Feldspathic sand, produced as a by-product of mica production, is being marketed for use in stucco production, golf courses and construction sand products. Over 20 cosmetic manufacturers are testing AZCO's mica; three major cosmetics companies have approved AZCO mica for use in their products; and the Company has fulfilled several initial orders.

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. Further, the Company assumes no obligation to update or otherwise publicly revise the forward-looking information disclosed herein to reflect circumstances existing after the date hereof.