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AZCO RETAINS THE FIRST BOSTON CORP. AS LEAD FINANCIAL ADVISER FOR THE SANCHEZ MINE PROJECT FINANCING

 AZCO RETAINS THE FIRST BOSTON CORP. AS LEAD FINANCIAL ADVISER
 FOR THE SANCHEZ MINE PROJECT FINANCING
 LAKEWOOD, Colo., Nov. 5 /PRNewswire/ -- AZCO Mining Inc. (Toronto, Vancouver: AZC) announced that it has retained The First Boston Corp. as lead financial adviser to the company in connection with the financing of the company's Sanchez Mining Project.
 The First Boston Corp. is the U.S. unit of CS First Boston Inc., a global investment banking firm, which is 64.2-percent-owned by Credit Suisse Holding. First Boston will assist AZCO in arranging and structuring the project financing to put the Sanchez Mine into production.
 Sanchez is one of three world-class oxide copper projects now under development by AZCO, all amenable to the low-cost solvent extraction/electrowinning (SX/EW) recovery process. A final feasibility study by Fluor Daniel Wright has established a recoverable 1 billion pound copper reserve at Sanchez, indicating a mine life of approximately 20 years at a forecast annual production rate of 56 million pounds of copper.
 With copper production costs expected to be at approximately $0.50 per pound, the Sanchez operation will place AZCO firmly in the category of low cost copper producers. Plant construction at Sanchez is scheduled to start in the spring of 1993, with production commencing in 1994, subject to the timely securing of environmental permits and project financing.
 AZCO's goal is to produce a minimum of 100 million pounds of cathode copper annually by 1997 through the SX/EW process, with the Sanchez Mine providing the core output of 56 million pounds per annum.
 -0- 11/5/92
 /CONTACT: Anthony R. Harvey, chairman of the board, or Alan P. Lindsay, president and CEO, of AZCO Mining, 604-682-7286/
 (AZC.) CO: AZCO Mining Inc. ST: Colorado IN: MNG SU:


KJ-LS -- LA005 -- 2911 11/05/92 09:30 EST
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Publication:PR Newswire
Date:Nov 5, 1992
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