Azimut grants stock options

Symbol: AZM.TSX Venture

LONGUEUIL, QC, Jan. 17 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut") announces that a total of 450,000 stock options have been granted to its directors, officers, employees and consultants. Of this number, 410,000 have been granted to its directors and officers and 40,000 to its employees and consultants. These options have an exercise price of $0.80 per share and are exercisable during a 10-year period.

Azimut is a mineral exploration company using cutting-edge targeting methodologies with the objective of discovering major ore deposits. The Company holds the largest mineral exploration portfolio in Quebec, mostly for gold, copper, uranium and rare earth elements.

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

Tel.: (450) 646-3015 - Fax: (450) 646-3045 [email protected] www.azimut-exploration.com

CO: AZIMUT EXPLORATION INC.

CNW 14:40e 17-JAN-11