LA HIGUERA / CABALLO BLANCO - CHILEAn Important Historical I.O.C.G. Mining Center

330 Bay Street, Suite 820

Toronto, Ontario M5H 2S8

(416) 907-7363

www.azul-ventures.com

TSX-V:AZL

Forward Looking Statements

This presentation contains, or incorporates by reference, “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-

looking information may include , but is not limited to, statements with respect to the future financial and operating performance of Azul Ventures Inc. and its

subsidiaries, and its mineral properties, the future price of copper and other metals, the estimation of mineral resources, results of exploration activities and studies,

the realization of mineral resource estimates, exploration expenditures, costs and timing of the development of new deposits, the acquisition of additional mineral

resources, the results of future exploration and drilling, timing of economic and scoping-level studies, costs and timing of future exploration of the La Higuera and

Caballo Blanco Projects, requirements for additional capital, management’s skill and knowledge with respect to the exploration and development of mining properties

in Chile in general and the relevance of that knowledge to the projects, government regulation of mining operations and exploration operations, timing and receipt of

approvals and licences under mineral legislation, environmental risks and title disputes or claims and limitations of insurance coverage. In certain cases, forward-

looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”,

“anticipates” or “believes”, or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”,

“would”, “might” or “will” be taken, occur or be achieved.

Azul has not independently verified the historical drilling results on Caballo Blanco, and thus the drilling results should not be relied upon by shareholders, potential

investors or any other individual or company. Azul is only using this historical information to assist with the planning and prioritization of exploration targets.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of

Azul Ventures Inc. to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such

factors include, among others, risks associated with the Company’s dependence on the La Higuera and Caballo Blanco Project’s; the Company’s limited operating

history; general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; risks associated with

dependence on key members of management; conclusions of economic evaluations and studies; currency fluctuations (particularly in respect of the Canadian dollar,

the United States dollar and the Chilean peso and the rate at which each may be exchanged for the others); future prices of copper and other metals; uncertainty in

the estimation of mineral resources, exploration and development risks; infrastructure risks; inflation risks; defects and adverse claims in the title to the projects;

accidents, political instability ,insurrection or war; labour and employment risks; changes in government regulations and policies, including laws governing

development, production, taxes, royalty payments, labour standards and occupational health, safety, toxic substances, resource exploitation and other matters; delays

in obtaining governmental approvals or financing or in the completion of development or construction activities; insufficient insurance coverage; the risk that dividends

may never be declared; and liquidity and financing risks related to the global economic crisis. Such forward-looking statements are based on a number of material

factors and assumptions, including: that contracted parties provide goods and/or services on the agreed timeframes; that on-going contractual negotiations will be

successful and progress and/or be completed in a timely manner; that no unusual geological or technical problems occur; that plant and equipment work as

anticipated and that there is no material adverse change in the price of gold. Although Azul Ventures Inc. has attempted to identify important factors that could cause

actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or

results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this presentation. There can be

no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such

statements. Accordingly, readers should not place undue reliance on forward-looking statements due to the inherent uncertainty therein.

Michael R. Schuler, a qualified person as defined by National Instrument 43-101, has supervised the preparation of the technical information that forms the basis for

the disclosure of the results of exploration activities by Azul Ventures presented in this document. Mr. Schuler is the Vice President - Exploration of Azul Ventures,

and is therefore not independent of the Company.

2TSX-V:AZL

Investment Highlights

• Advanced exploration target at La Higuera– target of 20 million tonnes of high-grade copper sulphides and

magnetite ore

• Exploration target at Caballo Blanco– target of >100 million tonnes of open pittable copper-iron

• Preliminary metallurgical testing very favourable– 70% Fe (magnetite concentrate); co-products possible

• Excellent infrastructure in prolific I.O.C.G. belt, where world class deposits occur

• Management team with track record of success

3

Strategic Location

4

Near major cities Near major mining and port projects

Proposed Iron Ore Port

Development by CAP

5

• 25 km from

La HigueraINSERT PHOTO OF OLD PORT

3,626 Hectares of

Concessions

6

• La Higuera Project:

1,076 hectares

• Caballo Blanco Project:

2,550 hectares

Magnetic Targets

7

• Ground magnetic survey superimposed on regional aeromagnetic survey

La Higuera Property

8

• Almost continuous underground mining since 1832 from 40 copper

sulphide bearing veins

• Slag from various smelters at La Higuera indicates several million

tonnes of high grade copper ore was mined historically

• Azul completed ground geophysics, partial rehabilitation of

underground workings and a first phase of drilling from surface

• Azul acquired 1,032 hectares of mineral rights over the La Higuera

mineralized system and retains options on another 44 hectares

(option agreements on non-core portions of the property covering

154 hectares was dropped in December 2012)

• Azul plans an exploration decline and drive with underground drilling

to test high grade ore shoots with a target of 20 million tonnes of

high-grade copper sulphides and magnetite ore

La Higuera

Active Local Miners

9

• Resurgence of mining – oxide copper (San Antonio Mine – La Higuera)

• Four active open pits and numerous smaller workings

La Higuera - High Grade

Oxide at Surface

10

• High grade copper oxides in Diucas pit at the La Higuera Property

• Azul property-wide open pit channel sampling results include:

– 17m @ 1.48% copper, 11.72% iron

– 20m @ 0.76% copper, 16.10% iron

La Higuera Magnetic Targets

11

• Magnetics indicates a strong

anomaly with a length of

1,000 m, width of 200 m and

considerable depth extent in

San Antonio-Gonzalez zone

• Copper sulphides

(chalcopyrite) closely

associated with magnetite

Phase I Surface Drilling

(Feb-May 2012)

12

Significant Iron Dominant

Drill Intercepts at La Higuera

13

Drill Hole

ID

From

Metres

To

Metres

Width

Metres

Iron

%

86 114 28 22.8

136 144 8 32.8

38 46 8 25.0

92 108 16 20.4

LHRC-04 30 40 10 32.8

9 31 22 34.4

96 106 10 37.5

238 254 16 38.4

LHDD-11* 224 259 35 27.3

63 66 3 26.7

84 89 5 22.4

107 125 18 24.4

215 230 15 28.3

258 282 24 36.3

281 290 9 30.3

* Intercepts are immediately adjacent to the core ground

retained by Azul

LHDD-13

LHRC-02

LHRC-03

LHRC-09*

LHDD-12

Significant Iron-Copper

Intercepts at La Higuera

14

Drill Hole IDFrom

Metres

To

Metres

Width

Metres

Copper

%

Iron

%

LHRC-03 165 167 * 2 2.38 12.4

LHRC-04 117 126 9 0.97 12.1

86 90 4 0.82 9.0

118 131 13 1.78 13.6

68 122 54 0.35 16.0

14 0.47 23.3

167 169 2 1.09 14.8

170 174 * 4 0.61 24.9

160 164 4 1.46 13.9

206 218 12 0.41 15.1

269 277 8 0.46 13.8

103 109 6 1.00 25.4

191 197 * 6 0.73 16.9

120 121 1 2.65 -

258 282 24 0.47 36.3

LHDD-14** 288 296 8 1.10 32.0

* Drill hole lost in workings

** Intercepts are immediately adjacent to the core ground retained by Azul

LHRC-06

LHDD-11**

LHDD-13

includes

LHRC-08**

LHRC-07

LHDD-12

LHDD-13 Drill Core

15

Intersected 24.0 m of 0.47% Cu and 36.26% Fe,

including 14.0 m of 0.70% Cu beneath the

main San Antonio Zone

Stockwork and disseminated chalcopyrite

and pyrite in magnetite

LHDD-13 Drill Core Detail

16

1.44% Cu over 4 m

(from 272 m to 276 m)

17

Underground Channel Sampling

Results

Old mine with high grade

exploited

Channel

ID

From

Meters

To

Meters

Width

Meters

Copper

%

Iron

%

JMS-01

0 16 16 0.28 37.0

16 39 23 1.20 32.7

includes 11 1.54 31.3

JMS-02 0 6 6 0.71 35.8

JMS-03 0 11 11 0.53 35.1

includes 7 0.65 40.1

JMS-04 0 8 8 0.93 33.1

includes 5 1.24 29.2

JMS-05 0 14 14 0.57 33.2

includes 6 0.73 29.2

JMS-06 0 10 10 0.30 35.8

includes 2 0.81 28.9

JMS-07 0 8 8 0.58 32.4

includes 5 0.73 31.8

JMS-08 2 4 2 0.68 35.1

JMS-09 1 4 3 0.44 29.7

JMS-11

0 23 23 0.68 35.9

includes 9 0.84 35.6

and 7 0.91 35.8

JMS-12

0 8 8 0.58 25.7

includes 3 0.88 34.0

and 2 0.78 22.3

JMS-13 1 9 8 0.94 26.7

JMS-14 0 10 10 1.13 34.7

JMS-17 0 7 7 0.80 20.4

includes 4 1.18 20.2

Note: Intercepts are immediately adjacent to the core ground retained by Azul

Caballo Blanco Property

18

• A total of 15 broad spaced reconnaissance holes were drilled, with 10 RC holes by Latin American Copper (LAC UK) and 5 diamond holes by Peregrine Minerals.

• Several holes returned significant chalcopyrite and magnetite intersections.

• Of the reconnaissance holes drilled, only two were located in the magnetic anomalies:

o CAB-006 - 82m @ 0.35% Cu, 19.24% Fe.o CB-01 - 10m @ 0.49% Cu,

- 40m @ 0.40% Cu, 18.5% Fe,- 38m @ 0.22% Cu, 19.72% Fe (with 12m at 0.40% Cu),- 6m @ 0.62% Cu, 19.7% Fe,- 8m @ 0.62% Cu, 21.9% Fe.

• Large magnetic anomalies remain untested.

• Exploration target model is the Santo Domingo* style ore body, which currently has 418Mt at 0.32% Cu and 27.2% Fe, with similar projected revenue from copper and iron.

* Capstone Mining Corp.’s Santo Domingo Project – the August 15, 2011 Ausenco Pre-Feasibility Study states that “the mill will process a total of 418 million tonnes of ore over an 18-year mine life at an average grade of 0.32% copper, 0.04 g/t gold and 27.6% iron.” The report was prepared for Far West Mining, acquired by Capstone Mining which owns 70% of Santo Domingo with 30% held by Kores resources Corporation (Kores).

Azul has not independently verified the historical drilling results on Caballo Blanco, and thus the drilling results should not be relied upon by shareholders, potential investors or any other individual or company. Azul is only using this historical information to assist with the planning and prioritization of exploration targets.

19

Caballo Blanco Historical Drill

ResultsDrill Hole

ID

From

Metres

To

Metres

Width

Metres

Copper

%

Iron

%

10 88 78 0.22 14.2

10 0.43 17.2

0 54 54 0.35 13.5

18 0.50 12.7

12 76 64 0.25 11.3

8 0.35 11.1

10 0.38 16.2

4 0.42 21.1

64 146 82 0.35 19.2

6 0.85 18.4

4 0.64 15.6

6 0.78 24.5

12 0.50 26.1

54 62 8 0.38 7.7

104 114 10 0.49 8.7

6 0.66 7.5

124 164 40 0.40 18.5

10 0.97 24.4

168 194 26 0.14 21.3

194 206 12 0.40 16.3

228 234 6 0.62 19.7

246 262 16 0.22 18.4

322 332 10 0.06 25.0

340 348 8 0.62 21.9

CB-04 202 206 4 0.31 10.4

38 48 10 0.19 30.8

4 0.32 37.5

124 130 6 0.02 24.6

148 158 10 0.03 25.9

200 214 14 0.01 23.7

CB-05

CAB0001

CAB0002

CAB0005

CAB0006

CB-01

includes

includes

includes

includes

and

and

includes

and

and

and

includes

includes

SHOWS STOCKWORK AND DISSEMINATED NATURE

OF CHALCOPYRITE MINERALIZATION IN

ASSOCIATION WITH MAGNETITE

(142.3 m – DETAIL OF CB-01)

(153.5 m – DETAIL OF CB-01)

Azul has not independently verified the historical drilling results on Caballo Blanco, and thus the drilling results should not be relied upon by shareholders, potential investors or any other individual or company.

Caballo Blanco

Magnetic Map

with Drill Hole

Positions

20

21

Caballo Blanco - Drill Section A-A’

• Historical drill

holes CB-02 and

CB-03 failed to

test the magnetic

target as they

were drilled west

of the target.

22

Caballo Blanco – CB-03 Drill Section

• Historical drill hole CB-03 failed to

test the magnetic target as it was

drilled west of the target.

23

Caballo Blanco – CB-02 Drill Section

• Historical drill hole CB-02 failed to test

the magnetic target as it was drilled

west of the target.

Preliminary Metallurgical

Testing

24

• Davis Tube Magnetic Separation on five drill core samples from La Higuera and

Caballo Blanco generated high grade with low levels of penalty elements

• The magnetic iron concentrate ranged from 68.89% to 70.67% Fe (average

69.99% Fe), which is a high grade concentrate. Average recovery was 84.5%

• A magnetite iron co-product is possible following copper sulphide flotation, as

planned by Capstone Mining Corp. for their Santo Domingo Project *

• Further detailed metallurgical testing is planned. Grades of drill core and

concentrate for selected elements are tabulated below:

ANALYSES OF CORE GRADE ANALYSES OF CONCENTRATE GRADE

Sample ID

Fe (%)

Cu (%)

P (%)

S (%)

Al2O3 (%)

Fe (%)

Cu (%)

P (%)

S (%)

Al2O3 (%)

3791 28.93 0.033 0.227 0.398 1.78 69.89 0.001 0.002 0.035 0.45

3792 45.60 0.066 0.108 0.466 3.45 70.67 0.001 0.001 0.007 0.45

3793 38.86 0.192 0.136 0.581 5.08 70.15 0.001 0.001 0.012 0.39

3794 27.65 0.160 0.136 1.460 9.14 68.89 0.001 0.002 0.039 0.76

3795 26.59 0.896 0.509 4.830 5.85 70.37 0.001 0.006 0.045 0.35

* Capstone Mining Corp.’s Santo Domingo Project – the August 15, 2011 Ausenco Pre-Feasibility Study states that “testing indicates a magnetite concentrate grading 65% iron can be maintained throughout the life of the project.”

Iron Plant

Independent Owner

25

A magnetic separation plant is currently being assembled at La Higuera to treat ore from the open pit mines

Exploration Program

26

• Phase I Drilling (La Higuera) – Completed May 2012

– 2,006 m of diamond drilling

– 2,082 m of reverse circulation drilling

• Phase II Exploration

– La Higuera

• Approval for an additional 14,000 m of drilling

• Underground channel sampling and cross cut development

• 4,000 m of underground diamond drilling

– Caballo Blanco

• Surface geological mapping and sampling

• 5,000 m of diamond drilling, which includes plans to twin old holes

Option Payments –

OutstandingLa Higuera Caballo Blanco

Date US$ - option US$ - surface US$ Shares

2013

December $71,000 - $50,000 250,000

2014

January - $20,000 - -

June $125,000 - - -

December $46,000 - $100,000 400,000

2015

January - $20,000 - -

June $625,000 - - -

December - - $250,000 -

2016

January - $20,000 - -

June $385,000 - - -

2017

January - $1,340,000 - -

• 1% NSR on one of the La Higuera properties and Caballo Blanco (can be purchased for US$500,000 each).

Management Team

28

• David O’Connor, President & CEO

– Geologist with 30+ years’ experience, Ex Western Mining (led Olympic Dam

discovery), North Ltd. (Chief Geologist)

– Established and lead several TSX-V exploration companies in South America

(Explorator Resources the most recent)

• Brad Boland, CFO

– Accountant with 15+ years’ experience in the mining industry

– Formerly of Crocodile Gold, Consolidated Thompson Iron Mines, Kinross, Goldcorp

• Michael Schuler, Vice President, Exploration

– Geologist with 35+ years’ experience in mineral exploration

– Previously held Executive and Senior geological positions and worked throughout

South America

• Francisco Schubert, Country, Manager

– Mechanical engineer with 30+ years’ experience working for contractors and mines

in South America

– Has worked as country manager for a number of TSX-V listed exploration

companies in Chile

Board of Directors

29

• Tony Wonnacott, Chairman

– 15+ years’ experience in corporate securities law

– Involved with the successful listing of numerous private companies as consultant,

officer or director

– Involved in capital raisings in excess of $3 billion and the sale of a company for

approximately $750 million

• Mike Hoffman, Director

– Mining engineer with 25+ years’ experience in operations, projects, engineering and

corporate development

– Has held senior positions at Crocodile Gold, Crowflight Minerals, Goldcorp, Desert

Sun, Yamana

• Catherine Gignac, Director

– Mining equity research analyst with 25+ years’ experience

– Most recently with NCP Northland Capital Partners

– Geologist who began her career with Barrick Gold

Capital Structure

as of August 31, 2013

30

Issued & Outstanding: 30,449,362

Options: Expiry Price

Jan 12, 2017 $0.30 1,575,000

Jan 30, 2017 $0.30 25,000

Feb 20, 2017 $0.305 100,000

Warrants: Expiry Price

Aug 9, 2015 $0.15 8,750,000

Jan 12, 2017 $0.30 300,000

Fully Diluted Common Shares: 41,199,362

Corporate History

31

• April 2012 - Name change to Azul Ventures Inc.

• February 2012 – Caballo Blanco option agreement

signed

• January 2012 – Minera Azul qualifying transaction

completed

• October 2011 - $1.5M debenture financing completed

and subsequently converted into 6M common shares @

$0.25 at close of qualifying transaction

• June/July 2011 - La Higuera option agreements signed

Looking Forward

32

• Begin Phase II exploration program at La Higuera and

Caballo Blanco

• Define NI 43-101 mineral resource at La Higuera

• Sign additional La Higuera option agreements

Contact Information

33

For further information e-mail or call:

David O’Connor, President & CEO Tony Wonnacott, Chairman Brad Boland, CFOdoconnor@azulventures.ca tony@legalconsulting.ca bboland@azulventures.ca(56) 9 8255 9071 (416) 907-7363 (416) 907-7363

www.azul-ventures.com