Azimut: Update on the Eleonore South Property

Symbol: AZM-TSX Venture Exchange

LONGUEUIL, QC, Jan. 7 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut") reports results from the fall diamond drilling program at its Eleonore South joint-venture project with Les Mines Opinaca Ltée, a wholly-owned subsidiary of Goldcorp Inc. ("Goldcorp"), and Eastmain Resources Inc. ("Eastmain"). Fourteen (14) drill holes totalling 3,697 m were completed to test the JT Target area as well as two (2) other priority targets on the property. In the JT Target area, 9 out of 12 holes intersected gold-bearing sedimentary rocks over wide intervals, along a one-kilometre-long corridor.

In the JT Target area, gold-bearing sedimentary rocks with arsenopyrite returned up to 9.22 g/t Au over 0.5 m (core length), beneath previous surface trenching that returned up to 5.33 g/t Au over 8.0 m and 10.9 g/t over 3.0 m in channel samples (see February 26, 2008 press release).

Results from this drilling phase include:

    
    - 0.93 g/t Au over 4.0 m (from 47.0 to 51.0 m) in hole ES09-17
    - 0.55 g/t Au over 6.2 m (from 162.8 to 169.0 m) in hole ES09-18
    - 0.82 g/t Au over 7.0 m (from 115.0 to 122.0 m) in hole ES09-19
    - 1.33 g/t Au over 7.5 m (from 147.5 to 155.0 m) in hole ES09-20
    - 0.64 g/t Au over 17.5 m (from 212.0 to 230.5 m), including 3.73 g/t Au
      over 2.0 m, in hole ES09-22
    - 1.40 g/t Au over 10.0 m (from 186.0 to 196.0 m), including 9.22 g/t Au
      over 0.5 m, in hole ES09-23
    - 0.54 g/t Au over 14.0 m (from 161.0 to 175.0 m), including 1.43 g/t Au
      over 3.5 m, in hole ES09-29
    

The JT Target area is open to the north and at depth. Drilling to date suggests a large, gold-enriched halo, comparable in nature with the geochemical halo surrounding the Roberto gold deposit on the Eleonore property, owned by Goldcorp, located about 12 km NW of the JT area. Gold resources at Roberto are currently estimated as follows: 2.3 million measured and indicated ounces at a grade of 10.05 g/t Au and 3.0 million inferred ounces at a grade of 12.75 g/t Au.

The Eleonore South property shows a geological setting comparable to that of the Eleonore property, including gold-bearing sedimentary rocks associated with disseminated arsenopyrite, aluminous rock alteration, quartz veining, silicification, and tourmaline mineralization.

The 2009 drilling program was funded by Eastmain and Goldcorp. Current ownership of the property is approximately Azimut 29.4%, Goldcorp 35.3%, and Eastmain 35.3%. Eastmain, as operator, will propose a new exploration program in 2010. Azimut considers Eleonore South as a very prospective property with several quality targets not yet drill-tested.

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 using cutting-edge targeting methodologies with the objective of discovering major ore deposits.

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.

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