Azimut Exploration Inc.

Published : July 13th, 2016

Azimut $2.3 million private placement financing oversubscribed and increased to $2.5 million

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Azimut $2.3 million private placement financing oversubscribed and increased to $2.5 million

584fa750-41df-4288-8703-6efbf07b05dd.pdf

For immediate release

July 13, 2016

Symbol: AZM.TSX Venture

Not for distribution to United States newswire services or for dissemination in the United States

Press Release

Azimut $2.3 million private placement financing oversubscribed and increased to $2.5 million

Longueuil, Québec - Azimut Exploration Inc. ("Azimut" or the "Company") (TSXV: AZM) announces that the non-brokered private placement of 7,187,500 common shares at a price of $0.32 per share for total gross proceeds of $2,300,000 announced on July 11, 2016, is oversubscribed. The placement has been increased to 7,812,500 common shares for total gross proceeds of $2,500,000.

Each share issued in the placement will be accompanied by one half-warrant. Each whole warrant will entitle its holder to subscribe for one common share of the Company at a price of

$0.45 per share over a 24-month period. The issued securities under this financing will be subject to a hold period of four months from the closing date. The gross proceeds of the financing will be used for exploration programs on the Company's mineral properties, business development and for general corporate purposes.

Finder's fees may be paid with respect of all or part of this financing. The terms of the placement are subject to acceptance by the TSX Venture Exchange.

Azimut is a mineral exploration company with the objective of discovering major ore deposits. The Company's core business is target generation and concurrent partnership development. Targets are generated using advanced processing of large geoscientific databases.

Contact and Information

Jean-Marc Lulin, President and CEO

Tel.: (450) 646-3015 - Fax: (450) 646-3045

[email protected] www.azimut-exploration.com

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

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.

Read the rest of the article at www.publicnow.com
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Azimut Exploration Inc.

DEVELOPMENT STAGE
CODE : AZM.V
ISIN : CA3019501012
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Azimut Expl. is a gold and cobalt exploration company based in .

Azimut Expl. develops gold, cobalt and uranium in Canada, and holds various exploration projects in Canada.

Its main asset in development is CENTRAL MINTO in Canada and its main exploration properties are ELEONORE SOUTH, NORTH RAE, WEMINDJI, OPINACA (A, A-EAST, B AND B-NORTH), DANIEL LAKE, OPINACA, REX SOUTH, WABAMISK, SOUTH BIENVILLE, KATIVIC and LAC VOLANT in Canada.

Azimut Expl. is listed in Canada. Its market capitalisation is CA$ 26.8 millions as of today (US$ 21.4 millions, € 18.8 millions).

Its stock quote reached its lowest recent point on December 20, 2002 at CA$ 0.04, and its highest recent level on June 29, 2007 at CA$ 9.42.

Azimut Expl. has 45 460 000 shares outstanding.

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Financings of Azimut Exploration Inc.
3/1/2011announces a $5,200,000 non-brokered private placement
Project news of Azimut Exploration Inc.
6/16/2016Azimut and its partners launch a $2 million exploration prog...
4/21/2016Azimut announces Hecla will commence a $756,000 exploration ...
2/13/2014(Opinaca)announces Hecla Quebec will start a diamond drilling program...
2/22/2011(Rex South)Azimut further defines major Copper and Gold exploration tar...
2/22/2011(Rex South)further defines major Copper and Gold exploration targets at...
7/7/2010(Rex South)and Aurizon begin $1.5-million exploration program at the Re...
Corporate news of Azimut Exploration Inc.
7/25/2016Azimut closes $2,500,000 private placement
7/13/2016Azimut $2.3 million private placement financing oversubscrib...
7/11/2016Azimut announces $2.3 million private placement financing
6/7/2016Azimut: Extension of Expiry Date of Warrants
3/30/2016Azimut refines highly prospective gold target on the Eleonor...
1/22/2016New results in the Eleonore Camp strengthen the discovery po...
11/25/2015Azimut reports on Hecla Quebec's progress on the Opinaca B g...
10/7/2015Azimut acquires Duquet Property, Nunavik
10/5/2015Azimut: Corporate Update
3/24/2015Azimut grants stock options
3/24/2015grants stock options
3/19/2015Azimut: Strategic Update
3/19/2015Strategic Update
9/29/2014Azimut's airborne survey expands gold-polymetallic target at...
9/9/2014Azimut delineates major gold-polymetallic prospective zones ...
8/27/2014Azimut's airborne survey identifies high-quality targets at ...
7/3/2014commences an airborne geophysical survey at Nantais (Au, Ag,...
7/3/2014Azimut commences an airborne geophysical survey at Nantais (...
6/20/2014Azimut announces the closing of a $350,000 private financing
2/20/2014(Wabamisk)partner Goldcorp commences targeting phase on the Wabamisk g...
1/28/2014Strategic Update
11/7/2013(Opinaca)Hecla Mining renews its option on the Opinaca A & B gold pro...
7/30/2013grants stock options
2/14/2013adopts advance notice By-Law
1/17/2013expands its stake in Nunavik, Quebec
1/21/2011Updated Fact Sheet Azimut Exploration
4/4/2007Silver Spruce sign a Binding Letter of Intent for the Hudson...
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