Azco Updates Gold and Mica Activities.

GLENDALE, Ariz. -- Azco Mining Inc. (OTC:AZMN), a US based mining and exploration enterprise with an emphasis on gold, copper and industrial minerals, today provided the following update of its recent activities.

Ortiz Gold Property, New Mexico 

Since acquiring rights to the two million ounce Ortiz gold property, the company has begun assessment of the large quantity of technical information available. To date the review has focused on the Carache Canyon and Lucas Canyon gold deposits, which combined contain over one million ounces of gold. In the 1980's, the LAC - Pegasus Joint Venture carried out extensive exploration and development work on these two deposits. A pre-feasibility study concluded the deposits had economic potential for open-cut, heap-leach mining.

Dr. Pierce Carson, CEO, stated, "Based on our review to date, we have concluded that the Carache Canyon and Lucas Canyon deposits have promising open-cut mining potential at current gold prices and at assumed current-day capital and operating costs. As the next step in advancing the project, we intend to appoint a well qualified independent engineering firm to carry out further assessment and to prepare an updated pre-feasibility report."

The Carache Canyon deposit, in addition to its potential for open-cut mining, also appears to offer potential for underground mining of high-grade zones. The company is continuing to evaluate selected geologic and drilling data relevant to the feasibility of underground mining.

Dr. Carson said the 90 square-mile Ortiz property is highly prospective for additional major gold discoveries. The company is reviewing information on several partially tested prospects and on promising exploration targets.

The company recently paid the annual lease payment required to cover the Ortiz gold property until February 2006.

Precious Metals Acquisitions

With its new focus on precious metals and copper, the company is actively seeking precious metals properties and currently is evaluating a number of opportunities for possible acquisition.

Black Canyon Mica Property, Arizona

The company has continued to process and sell limited quantities of its high quality mica powders to the cosmetics and plastics industries. The mine at Black Canyon has remained on care-and-maintenance. The Glendale processing plant has operated on a sporadic basis as required to supply mica to certain key customers, using mica flake from inventory.

The Glendale processing plant was restarted earlier this month and will operate for several weeks in order to fill recently placed orders for cosmetic mica.

The company continues to seek the financing necessary to upgrade and expand the mining and processing facilities and to provide working capital. Discussions are on going with parties who have expressed an interest in providing the needed funding.

Financial Audit

The company has continued to work on the audit of its financial statement for the fiscal year ended June 30, 2004. The audited financial statement and several quarterly financial statements must be finalized and filed with the SEC in order to bring the company's financial reporting into compliance with regulatory requirements. Although the company expects that the required documents will be filed within the next several weeks, there can be no assurance that this objective will be achieved.

Upon regaining currency in its financial reporting, the company intends to apply for resumption of quotation of its stock on the OTC Bulletin Board.

About Azco Mining Inc.

Azco Mining Inc. is a US based mining and exploration enterprise with an emphasis on gold, copper and industrial minerals. Azco owns mineral lease rights to 90 square miles at the Ortiz gold property in New Mexico, where previous exploration has identified resources containing two million ounces of gold. Azco also owns and operates the Black Canyon mica deposit in Arizona, which contains a large resource of mica and by-product feldspathic sand.

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.