AZM.V · 2017-07-06 12:00:00

Azimut Reappraises the Gold Potential of the Opinaca A Property, Eleonore Mining Camp, James Bay region, Quebec Symbol: AZM.TSX Venture

Corporate Updates

Azimut Reappraises the Gold Potential of the Opinaca A Property, Eleonore

Mining Camp, James Bay region, Quebec

Symbol: AZM.TSX Venture

LONGUEUIL, QC, July 6, 2017 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut" or the "Company" )

(TSXV: AZM ) is pleased to announce it has reassessed the gold potential of its Opinaca A Property

based on previous exploration work and new regional information. Two major gold prospects (Charles

and Inex) are located along an inferred 20-km prosp ective trend defined by geophysical, geological and

geochemical parameters, including gold anomalies in till. Only limited drilling has been completed so far

on these prospects, and additional drilling is needed to better appraise their potential. Figures 1 to 3 ( see

attached ) show the Property's magnetic footprint and a comp ilation of salient exploration results to date.

The Opinaca A Property is adjacent to Goldcorp's Eleonore mine property, just 3.4 km north of the

Eleonore deposit. Opinaca A comprises 247 claims co vering 128.7 km 2 and is jointly held by Azimut and

its partner Everton Resources Inc. (TSXV: EVR ). Azimut is manager of the project. A new exploration

program is being prepared.

The two main gold prospects on the Property are described as follows:

The Charles Prospect is a 1-km-long gold prospect hosted in biotite-rich paragneiss with quartz veins

and up to 15% sulphides (pyrite, pyrrhotite), marke d by several high-grade grab samples (up to 42.34 g/t

Au). Detailed mapping and sampling is planned to further define drill targets.

The Inex Prospect is a 1.7-km-long gold prospect associated with a garnet-biotite-amphibole-silica-rich

rock hosted in paragneiss. Gold is free or associated with pyrite and pyrrhotite. The best grade among the

numerous mineralized grab samples is 50.9 g/t Au. As for the Charles Prospect, additional mapping and

sampling is also planned for this prospect prior to drilling.

For both prospects, the surface sampling data correlate well with drilling data to define a gold-mineralized

corridor measuring 50 to 100 m wide at each location (frequent values of >0.1 g/t Au).

The current reappraisal focuses on a 20-km-long prospective area that potentially links the Charles an d

Inex prospects. This underexplored sector is characterized by: a) the continuity of the magnetic signature

between the two prospects; b) arsenic, antimony and bismuth anomalies in lake-bot tom sediments; c)

gold anomalies in glacial sediments; and d) local evidence of folding, which may act as traps for gold

mineralization. This vast target zone is located in the geological Opinaca Subprovince, approximately 2 to

3.5 km east from its contact with the La Grande Subprovince.

In addition, the Smiley Prospect (4.24 g/t Au over 1.0 m in hole OS-08-04-A), locat ed 800 m north of the

Eleonore mine property boundary, is positioned along a newly interpreted 2.5-km-long north-trending

prospective target supported by a magnetic signature. This particular area was largely overlooked during

previous exploration phases due to a general absence of outcrops.

This press release was prepared by geologist Jean-M arc Lulin, acting as Azimut's Qualified Person under

National Instrument 43-101.

Azimut is a mineral exploration company with a core business centred on target generation and

concurrent partnership development. Targets are identified using advanced processing of large

geoscientific databases, enhanced by extensive exploration know-how. Azimut holds a strategic position

for gold and base metals in Quebec. The Company has 45.4 million shares outstanding.

Neither TSX Venture Exchange nor its Regulation Ser vices 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.

View original content with multimedia:

http://www.newswire.ca/en/releases/archive/July2017 /06/c4431.html

%SEDAR: 00003284E

For further information: Jean-Marc Lulin, President and CEO, Tel.: (450) 646-3015, Fax: (450) 646-

3045, [email protected], www.azimut-explo ration.com

CO: Azimut Exploration Inc.

CNW 07:00e 06-JUL-17

5 km

ELEONORE MINE (Goldcorp)

Surface projection

Proven and probable reserves:

23.44 Mt @ 6.07 g/t Au (4.57 Moz Au)

Measured and indicated resources:

5.14 Mt @ 5.66 g/t Au (0.93 Moz Au)

Inferred resources:

9.73 Mt @ 7.52 g/t Au (2.35 Moz Au)

(as of June 30, 2016)

OPINACA A

(Azimut / Everton)

Access road

Figure 1 - Press release dated July 06, 2017

Opinaca A Gold Property, Eleonore Mining Camp

James Bay Region, Quebec

420,000

440,000

5,840,000

5,850,000

ELEONORE PROPERTY

(Goldcorp)

Charles Prospect

Inex Prospect

Smiley Prospect

Magnetic vertical

gradient

High : 100

Low : 1

Data source: MERN

Prospective

corridor

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2 g/t Au

2.02 g/t Au

2.53 g/t Au

2.74 g/t Au

4.05 g/t Au

24.96 g/t Au

4.08 g/t Au

2.4 g/t Au

21.12 g/t Au

2.68 g/t Au

2.49 g/t Au

3.51 g/t Au

3.56 g/t Au

11.14 g/t Au

9.74 g/t Au

9.13 g/t Au

8.39 g/t Au

7.98 g/t Au

3.06 g/t Au

1.99 g/t Au

29.1 g/t Au

50.9 g/t Au

6.58 g/t Au

2.85 g/t Au

2.25 g/t Au

42.34 g/t Au

21.84 g/t Au

21.46 g/t Au

3.05 g/t Au

2.74 g/t Au

2.3 g/t Au

17.21 g/t Au

13.87 g/t Au

12.35 g/t Au

7.54 g/t Au

2.23 g/t Au

2.21 g/t Au

29.42 g/t Au

16.59 g/t Au

9.78 g/t Au

6.69 g/t Au

6.13 g/t Au

3.93 g/t Au

3.33 g/t Au

3.02 g/t Au

2.98 g/t Au

2.71 g/t Au

2.13 g/t Au

5 km

ELEONORE MINE (Goldcorp)

Surface projection

Proven and probable reserves:

23.44 Mt @ 6.07 g/t Au (4.57 Moz Au)

Measured and indicated resources:

5.14 Mt @ 5.66 g/t Au (0.93 Moz Au)

Inferred resources:

9.73 Mt @ 7.52 g/t Au (2.35 Moz Au)

(as of June 30, 2016)

Selected rock

grab samples

OPINACA A

(Azimut / Everton)

Access road

Figure 2 - Press release dated July 06, 2017

Opinaca A Gold Property, Eleonore Mining Camp

James Bay Region, Quebec

>1.0 g/t Au

0.5 - 1.0 g/t Au

0.1 - 0.5 g/t Au!

0.05 - 0.1 g/t Au!

420,000

440,000

5,840,000

5,850,000

!! !

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! !!

1.06 g/t Au / 1 m (OP-06-01)

4.32 g/t Au / 1 m (OS-08-04-A)

3.67 g/t Au / 0.5 m (OP-06-05)

4.83 g/t Au / 0.5 m (AC-07-01)

12.31 g/t Au / 0.5 m (OP-06-02)

3.03 g/t Au / 1.5 m (OP-06-03)

7.71 g/t Au / 0.6 m (OP-06-03)

1.47 g/t Au / 0.3 m (AC-07-02)

1.58 g/t Au / 0.5 m (AC-07-02)

1.41 g/t Au / 1 m (AC-07-02)

1.78 g/t Au / 0.5 m (AC-07-02)

3.09 g/t Au / 0.5 m (AC-07-02)

5 km

ELEONORE MINE (Goldcorp)

Surface projection

Proven and probable reserves:

23.44 Mt @ 6.07 g/t Au (4.57 Moz Au)

Measured and indicated resources:

5.14 Mt @ 5.66 g/t Au (0.93 Moz Au)

Inferred resources:

9.73 Mt @ 7.52 g/t Au (2.35 Moz Au)

(as of June 30, 2016)

OPINACA A

(Azimut / Everton)

Access road

Figure 3 - Press release dated July 06, 2017

Opinaca A Gold Property, Eleonore Mining Camp

James Bay Region, Quebec

420,000

440,000

5,840,000

5,850,000

Diamond drilling

Collar location

and surface projection

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