AZL

Azul Ventures Inc. ("Azul", or the "Company") (TSX VENTURE:AZL) announced that
it has signed amended agreements with the Caballo Blanco mineral rights owner
and the Benja mineral rights owner. In addition, the Company has decided to drop
the La Sin Nombre mineral concessions. The Benja and the La Sin Nombre mineral
rights are part of the La Higuera Property.


Caballo Blanco Mineral Rights

Under the previous Caballo Blanco option agreement, the Company was required to
make four remaining payments totaling US$925,000 and issue 400,000 common shares
of Azul. The next payment of US$125,000 was due on or before January 1, 2013.
The amended agreement reduces the total remaining payments to US$440,000, with
an immediate payment of US$40,000. The revised cash and share payment schedule
is outlined below (US$):




                                           Revised              Previous    
Date                                     Cash     Shares       Cash   Shares
January 1, 2013                     $       -          -  $ 125,000        -
January 21, 2013                       40,000    400,000          -        -
July 1, 2013                                -          -    100,000  150,000
December 15, 2013                      50,000    250,000          -        -
July 1, 2014                                -          -    200,000        -
December 15, 2014                     100,000    400,000          -        -
January 1, 2015                             -          -          -  250,000
July 1, 2015                                -          -    500,000        -
December 15, 2015                     250,000          -          -        -
                                   ---------- ---------- ---------- --------
Total                               $ 440,000  1,050,000  $ 925,000  400,000



In addition, the Company has agreed to grant to the Caballo Blanco property
owner a 1% NSR on the Caballo Blanco exploitation claims. The Company may
acquire the NSR at any time for US$500,000.


A map of the Caballo Blanco concessions is attached below in Figure 1.

Benja Mineral Rights (Canas Option Agreement)

The Company has agreed to increase the number of common shares payable under the
Canas option agreement (Benja mineral rights) to 500,000 common shares; up from
the 250,000 common shares, as previously announced in the Company's December 10,
2012 press release. Under the prior option agreement on the Benja properties,
the Company was required to make four remaining payments totaling US$460,000.
The amended agreement eliminates all of the remaining cash payments in exchange
for the immediate issuance of 500,000 common shares. Upon the issuance of the
500,000 common shares, all conditions for Azul to have earned a 100% interest in
the mining concessions that are subject to the Benja option agreement shall be
fulfilled. The Benja option agreement concessions cover approximately 80 of the
1,230 hectare La Higuera Property.


The amended agreement relates to the exploitation concessions referred to
"Canas" in Figure 2 below.


La Sin Nombre Mineral Rights (Alcayaga Option Agreement)

The Company has decided to drop the option agreement on the La Sin Nombre
mineral rights (Alcayaga option agreement in Figure 2 below) which made up part
of the La Higuera Property and the Company did not make the US$44,000 option
payment under the agreement which was due on December 15, 2012. The focus of the
Company's exploration at the La Higuera Property will be on the San Antonio
(Molina) and Mina Sol (Gonzalez) mineral rights on which future exploration
drilling and development will be planned. Option payments on the San Antonio and
Mina Sol properties, under renegotiated terms totaling US$70,000, were made in
December 2012.


All of the amended agreements remain subject to the receipt of regulatory
approval, including the approval of the TSX Venture Exchange.


As a result of dropping the Alcayaga option agreement along with dropping the
Findel option agreement, as announced in the Company's December 28, 2012 press
release, the La Higuera Property now consists of four separate agreements over
1,076 hectares (down from six agreements over 1,230 hectares). A map of
concessions at the La Higuera Property is attached below in Figure 2.


Amended and Restated Loan Agreement with Directors and Officers

The Company has also entered into amended and restated loan agreements with Tony
Wonnacott, a director of the Company and Brad Boland, the Company's Chief
Financial Officer and Corporate Secretary. Under these loan agreements, a total
of $930,000 has now been made available and advanced to the Company. In
addition, the Company entered into loan agreements with David O'Connor,
President, CEO and a director of the Company and Francisco Schubert, the
Company's Chilean Country Manager, under which US$120,000 has been made
available and advanced to the Company. The loans accrue interest at a rate of
10% per annum and is payable at the end of the term of the loan, which has been
deferred to March 15, 2013. The loans are unsecured and there are no conversion
provisions.


About Azul Ventures Inc.

Azul Ventures Inc. is a mineral exploration company with the rights, through its
wholly owned subsidiary Minera Azul Ventures Limitada, to acquire a 100%
interest in two prospective copper-iron properties in La Higuera, Chile: the La
Higuera Property and the Caballo Blanco Property. The properties are located
approximately 600 km north of Santiago in a prolific I.O.C.G. belt surrounded by
excellent infrastructure in a mining friendly jurisdiction.


The La Higuera Property was assembled as a result of the first-time
consolidation of mining rights and covers a historic copper mining district with
mining activity dating back to at least the late 18th century; however, there
had been no known modern exploration conducted on the property. Since the
consolidation of the mining rights in June 2011, Azul completed a rock sampling
program, completed geophysical work which generated intense magnetic and
chargeability anomalies coincident with existing copper workings, finalized a
4,088 m drill program and an underground mapping and sampling program.


The Caballo Blanco Property, which begins approximately 1 km southwest of the La
Higuera Property, has historical copper workings and a total of 15 broad spaced
reconnaissance holes were completed at Caballo Blanco by previous option
holders. The Company has received and logged the core from these historical
drill holes.


Cautionary Statements

Information set forth in this news release may involve forward-looking
statements under applicable securities laws. Forward-looking statements are
statements that relate to future, not past, events. In this context,
forward-looking statements often address expected future business and financial
performance, and often contain words such as "anticipate", "believe", "plan",
"estimate", "expect", and "intend", statements that an action or event "may",
"might", "could", "should", or "will" be taken or occur, or other similar
expressions. All statements, other than statements of historical fact, are
forward-looking statements. By their nature, forward-looking statements involve
known and unknown risks, uncertainties and other factors which may cause the
Company's actual results, performance or achievements, or other future events,
to be materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors include,
among others, the following risks: the need for additional financing;
operational risks associated with mineral exploration; market conditions;
fluctuations in commodity prices; title matters; environmental liability claims
and insurance; reliance on key personnel; the potential for conflicts of
interest among certain officers, directors or promoters with certain other
projects; the absence of dividends; competition; dilution; the volatility of our
common share price and volume and the additional risks identified in the "Risk
Factors" section of the Company's Filing Statement or other reports and filings
with the TSX Venture Exchange and applicable Canadian securities regulations.
Forward-looking statements are made based on management's beliefs, estimates and
opinions on the date that statements are made and Azul undertakes no obligation
to update forward-looking statements if these beliefs, estimates and opinions or
other circumstances should change, except as required by applicable securities
laws. Investors are cautioned against attributing undue certainty to
forward-looking statements.


To view the figures associated with this press release, please visit the
following link: http://media3.marketwire.com/docs/AZL848561.pdf.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Azul Ventures Inc.
David O'Connor
President and Chief Executive Officer
(416) 907-7363
info@azul-ventures.com
www.azul-ventures.com

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