MONCTON, NEW BRUNSWICK--(Marketwire - May 30, 2012) -Azura Ventures Ltd. (TSX VENTURE:AZV.P) (the "Corporation" or "Azura"), a Capital Pool Company ("CPC") listed on the TSX Venture Exchange (the "Exchange"), announces it has received conditional acceptance from the Exchange of its proposed Qualifying Transaction and has filed a Filing Statement (the "Filing Statement") with the Exchange and regulatory agencies. The Filing Statement, available on SEDAR ([ www.sedar.com ]), provides details regarding the proposed acquisition of Excellium Technologies Inc. ("Excellium"), which acquisition was previously announced on December 29, 2011. Closing of the Qualifying Transaction is subject to certain conditions, including the final acceptance of the Exchange, and is expected to take place on or about June 13, 2012. Trading of the Azura shares should resume shortly after completion of the Qualifying Transaction, under the name of Excellium Inc. and a new symbol, (TSX VENTURE:XLM).

Forward-Looking Information

This press release contains forward-looking statements with respect to the Qualifying Transaction. All statements, other than statements of historical fact, which address activities, events or developments that we expect or anticipate may or will occur in the future are forward-looking information. Forward-looking information typically contains statements with words such as "may", "estimate", "anticipate", "believe", "expect", "plan", "intend", "target", "project", "forecast" or similar words suggesting future outcomes or outlook. The within discussion is intended to identify certain factors, although not necessarily all factors, which could cause future outcomes to differ materially from those set forth in the forward looking information. Examples of such statements include statements regarding completion of the Qualifying Transaction. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in the press release. Such forward-looking statements are based on a number of assumptions which may prove to be incorrect, including but not limited to, the ability of the Corporation or the Excellium shareholders to satisfy the conditions under the Share Purchase Agreement; the ability of the Corporation satisfy the requirements of the Exchange with respect to the Qualifying Transaction. Although the Corporation 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 not to be as anticipated, estimated or intended. There can be no assurances 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. The forward-looking statements contained herein are made as of the date hereof and Azura does not undertake any obligation to update publicly or to revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by law. Any forward-looking information contained herein is expressly qualified by this cautionary statement.

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