Azimut Exploration Inc.

Published : July 25th, 2016

Azimut closes $2,500,000 private placement

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Azimut closes $2,500,000 private placement

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July 25, 2016

Symbol: AZM-TSX Venture Exchange

Press Release

Azimut closes $2,500,000 private placement

Longueuil, Québec - Azimut Exploration Inc. ("Azimut" or "the Company") (TSXV: AZM) announces the closing of its private placement for $2,500,000, including $1,100,000 from five (5) Québec-based institutional funds: Capital croissance PME II, l.p. ("CCPME") ($200,000), SIDEX l.p. ("SIDEX") ($300,000), SODÉMEX II ($300,000), Fonds de

solidarité des travailleurs du Québec (F.T.Q.) ("Fonds de solidarité FTQ") ($200,000) and Fonds régionaux de solidarité FTQ, l.p. ($100,000).

This private placement, previously announced on July 11, 2016 and July 13, 2016, consisted of the issuance of 7,812,500 units, at a price of $0.32 per unit, for aggregate proceeds of $2,500,000. Each unit was comprised of one (1) common share of the Company and one-half (½) of one (1) share purchase warrant. Each whole warrant entitles its holder to subscribe for one (1) common share of the Company at a price of $0.45 over a 24-month period. The securities issued and issuable under this private placement are subject to a hold period of four months expiring on November 23, 2016.

Finder's fees and management fees totalling $100,730, representing 4.03% of the private placement, have been paid in cash. This amount includes finders' fees of $50,000 paid to Sprott Global Resource Investments, Ltd. and $13,460 to Haywood Securities Inc.

The proceeds of the private placement will be used to advance the Eléonore South JV gold property adjacent to the world-class Eléonore Mine (Goldcorp), to carry out other exploration work, and for business development and general corporate purposes.

CCPME is a fund jointly set up by the Caisse de dépôt et placement du Québec and by Capital Régional et Coopératif Desjardins for the purpose of supporting the economic development of Québec businesses and encouraging their growth. Desjardins Venture Capital Inc. acts as the manager of CCPME.

SIDEX was established in 2001 by the Government of Québec and the Fonds de solidarité FTQ. The mission of SIDEX is to invest in mineral exploration companies working in Québec to diversify Québec's mineral base. SIDEX encourages companies to explore for new substances, to use new metallogenic models and to open new territories. SIDEX also helps to promote entrepreneurship and innovation.

SODÉMEX II is a limited partnership whose general partner is Gestion Sodémex inc., a company of which La Caisse de dépôt et placement du Québec is a majority shareholder. Through this mining fund, La Caisse contributes to the development of the Quebec mining industry by taking stakes in junior exploration companies and mining producers in Quebec.

The Fonds de solidarité FTQ is a development capital fund that channels the savings of Québecers into investments. As at May 31, 2016, the organization had $11.7 billion in net assets, and through its current portfolio of investments has helped create and protect 187,414 jobs. The Fonds is partner in more than 2,600 companies and has 618,551 shareholder-savers. www.fondsftq.com

The Fonds régionaux de solidarité FTQ have been helping to further regional economic development in Québec for 20 years. An integral part of the Fonds de solidarité FTQ network, the Fonds régionaux have invested $635 million in 1,040 projects since their inception in 1996, helping to create, maintain or protect close to 37,000 jobs. www.fondsreg.com

About Azimut

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, enhanced by extensive field exploration know-how. Azimut holds a strategic position for gold and base metals in Québec, including the Eléonore South property in the James Bay region, and the Rex-Duquet, Rex South and Nantais properties in the Nunavik region of Northern Québec.

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 2

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, OPINACA (A, A-EAST, B AND B-NORTH), WEMINDJI, OPINACA, DANIEL LAKE, REX SOUTH, WABAMISK, SOUTH BIENVILLE, NORTH SHORE PROJECTS and EASTMAIN EASTMAIN 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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