Azimut Announces Issuance of Shares for Debt

Symbol: AZM.TSX Venture

LONGUEUIL, QC, Dec. 9 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut") announces that, subject to regulatory approval, including that of the TSX Venture Exchange, it will issue an aggregate of 83,430 common shares in payment of an aggregate amount of $51,392.82 of debt, representing the six-month period interest payment due on debentures and a loan agreement. The shares will be issued by Azimut at a deemed price of $0.616 per share.

Azimut is a mineral exploration company using cutting-edge targeting methodologies with the objective of discovering major ore deposits. The Company is a leader in conducting province-scale mineral potential assessments and generating high-quality projects. Exploration work performed by Azimut and its partners in Quebec led to the discovery of more than 200 new gold and uranium prospects during the last five years. Several properties are currently at the drilling stage.

Neither 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.

%SEDAR: 00003284EF

For further information: Jean-Marc Lulin, President and CEO, [phone], Fax: [phone], [email protected]; www.azimut-exploration.com