Azimut compares geochemical footprints between Goldcorp's Eleonore Gold Mine and neighbouring Eleonore South Property

Symbol: AZM.TSX Venture

LONGUEUIL, QC, March 3, 2016 /CNW Telbec/ - Azimut Exploration Inc ("Azimut" or "the Company") (TSXV: AZM) reports that the combined processing by Azimut of geochemical data covering the Eleonore property (including the major Eleonore gold deposit) and the Eleonore South property reveals an attractive kilometre-scale gold target at Eleonore South (see figures appended). This anomaly is comparable in size and intensity to the gold-arsenic soil footprint of the Eleonore deposit. This target is located right on the edge of the Cheechoo property where significant results were recently released by Sirios Resources Inc ("Sirios") (TSXV: SOI).

The two geochemical soil surveys cover the Eleonore property (Les Mines Opinaca Ltée, a wholly-owned subsidiary of Goldcorp Inc) and the Eleonore South property (Azimut-Goldcorp-Eastmain JV). The combined data integration and processing comprised 8,315 soil samples (B Horizon) over an area totalling 118.6 km². Sampling and analytical protocols are comparable and allow this data integration. Conducted in 2005 and 2006, the two soil surveys are in the public domain (the survey covering the Eleonore property has been performed by Virginia Gold Mines).

Significant results for the Eleonore gold deposit soil grid are as follows:

• Salient gold and arsenic values above the 90^th percentile delineate an anomalous area measuring at least 2.5 km by 1.5 km, with peak values of 236 ppb Au and 569 ppm As
• The deposit area is covered by 364 samples over 6.9 km² and includes 3 samples with values higher than 100 ppb Au and 31 samples with values greater than 100 ppm As
• Western extension of this anomaly is truncated by the Opinaca Reservoir
• Southwest-trending shape of anomaly corresponds to the main ice direction

On the Eleonore South property, a strong gold-arsenic soil anomaly, located east of the JT Target, is clearly on trend with the Cheechoo discovery and is defined as follows:

• Gold and arsenic values greater than 90^th percentile delineate an anomalous area of at least 3.5 km by 1 km, with peak values of 920 ppb Au and 949 ppm As
• This anomaly is included in a broader one measuring more than 12.7 km². Out of 1,097 samples, 19 samples returned values higher than 100 ppb Au and 38 samples returned values higher than 100 ppm As
• Anomaly covers a tonalitic intrusion and a tonalite/metasediments contact; the same tonalitic intrusion hosts gold mineralization at Cheechoo where gold in drill core was intersected as close as 50 metres from the Eleonore South property boundary
• Southwest-trending shape of anomaly corresponds to the main ice direction

The Eleonore deposit has a strong coincident gold-arsenic geochemical footprint. Similarly, the footprint outlined at Eleonore South, of comparable size and intensity, may also be related to proximal gold mineralization in bedrock. This portion of the property, which has never been drilled, is viewed as a high potential exploration target.

Other Azimut's gold properties in the Eleonore mining camp comprise:

• Opinaca A (50% Azimut, 50% Everton JV)
• Opinaca B (50% Azimut, 50% Everton JV, Hecla Option)
• Opinaca D (100% Azimut)

This press release was prepared by geologist Jean-Marc Lulin, acting as Azimut's Qualified Person under NI 43-101.

Azimut is a mineral exploration company with the objective of discovering major ore deposits. The Company's core business is target generation using advanced data processing methodologies, concurrently with partnership development. Azimut maintains a rigorous financial discipline to limit shareholder dilution. The Company has 37.6 million shares outstanding (43.4% held by insiders and institutional funds), no debt and $1.2 million in working capital.

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

SOURCE Azimut Exploration Inc.

PDF available at: http://stream1.newswire.ca/media/2016/03/03/20160303_C5897_PDF_EN_634448.pdf

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