TORONTO, ONTARIO--(Marketwired - Aug. 24, 2015) - Austin Resources Ltd. ("Austin" or the "Company") (TSX VENTURE:AUT) announces that all matters before the shareholders at the Annual General Meeting held on August 21, 2015 have been approved. As a result, the Board of Directors of the Company now consists of Zhi Lyu (Chairman), Weimin Fu and Zhigang Xie (who was also appointed as President and Chief Executive Officer). Mr. Lyu has been a director of the Company since September 19, 2014.

Mr. Fu is a professional geologist in Ordre des geologues du Quebec, with over 20 years' experience in mineral exploration and related business development in China and Canada. For the past 10 years, he has worked for several public companies listed on the TSX and the TSX Venture Exchange, including APAC Minerals Inc., Golden China Resources Corp. and Red Dragon Resources Corp.

Mr. Xie is currently the Deputy President of China Nonferrous Metal Guilin Research Institute of Geology for Mineral Resources. Mr. Xie holds a Bachelor degree of Powder Metallurgy, and now is a Ph.D. candidate of Materials Science, and has more than 20 years of experience as a high-level executive in the metallurgy and mining industry.

The Company would like to thank David O'Connor, Li Feng and Tony Wonnacott for their service and wish them the best in their future endeavors.

About Austin Resources Ltd. (formerly Azul Ventures Inc.)

Austin Resources Ltd. is a mineral exploration company with properties located in Chile and Ontario, Canada.

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 Austin 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information:

Austin Resources Ltd.
Brad Boland
Chief Financial Officer
(416) 907-7363