AZCO Mining Inc. announces results and adjournment of its annual general and special shareholders meeting held Nov. 14, 1995.

Mining Inc. (TSE/ASE:AZC) Wednesday announced the results of its annual general and special shareholders meeting held in Phoenix Nov. 14, 1995.

At the meeting, shareholders of the company approved and authorized: (i) the election of Alan P. Lindsay, Anthony R. Harvey, David C. Beling, Andrew F de P Malim and Paul Hodges as directors of the company for the ensuing year; (ii) the appointment of Coopers & Lybrand as auditors for the company; (iii) an amendment to the company's certificate of incorporation to increase the number of authorized common shares of the company from 50 million to 100 million; and (iv) an amendment to the company's stock option plan to allow for the granting of incentive stock options, to fix the maximum number of shares for which options may be granted under the stock option plan at 3,826,939 and to specify that the exercised price for any option granted under the plan may not be less than the fair market value of the applicable shares on the date of grant.

The meeting was adjourned until 10 a.m. Dec. 12, 1995, at the company's offices located at 999 West Hastings St., Suite 1250, Vancouver, British Columbia, Canada, V6C 2W2, at which time shareholders of the company will consider further the approval of the company's proposed sale of its Sanchez Project and a 70-percent interest in its Piedras Verdes Project to Phelps Dodge Corp.

At the time of adjournment, the company had received proxy votes for approval that exceeded 40 percent of the total common stock outstanding but that did not exceed 50 percent of the total outstanding common shares as required to approve the measure under applicable law.

Therefore, in accordance with the provisions of the company's purchase agreement with Phelps Dodge, and as previously indicated in the company's proxy statement, the meeting was adjourned to enable the company to solicit additional votes in favor of approval of the Phelps Dodge transaction in order to obtain the number of votes necessary to pass the measure.

The board of directors continue to believe that the Phelps Dodge transaction is in the best interest of the company and its shareholders and strongly and unanimously recommends that the shareholders vote to approve the transaction.

This news release has been prepared by management of the company who takes full responsibility for its contents. The American Stock Exchange and The Toronto Stock Exchange neither approve nor disapprove the contents of this news release.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any such jurisdiction.

CONTACT: AZCO Mining Inc., Vancouver

Alan P. Lindsay, Anthony Harvey or Paul Lathigee,

604/682-7286 or 800/563-7939