Azimut Obtains Receipt for Preliminary Short Form Prospectus



    /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR U.S.
    DISSEMINATION/

    Symbol: AZM.TSX Venture

    LONGUEUIL, QC, Aug. 26 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut")
announced today that the Autorité des marchés financiers, as principal
regulator, issued a receipt for the preliminary short form prospectus dated as
of August 25, 2008 in the name of the securities regulatory authorities in
each of the provinces of Canada in connection with a proposed offering of
common shares and flow-through common shares of Azimut (the "Offering"). The
Offering will be conducted on a best-efforts agency basis through a syndicate
of agents comprised of Blackmont Capital Inc., National Bank Financial Inc.,
Laurentian Bank Securities Inc., Industrial Alliance Securities Inc., Toll
Cross Securities Inc. and Desjardins Securities Inc.
    The pricing of the Offering will be determined based on market conditions
at the time of filing of the final short form prospectus. Closing of the
Offering is subject to certain conditions including, but not limited to, the
receipt of all necessary approvals, including the approval of the TSX Venture
Exchange.

    About Azimut

    Azimut is one of the most active mineral exploration companies in Québec
with 49 gold, uranium and nickel properties, 17 active option agreements and a
2008 partner-funded exploration budget of $11 million. Azimut's objective is
to discover major ore deposits using an innovative targeting methodology
combined with considerable exploration know-how.


    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this press release. Not
    for dissemination or distribution in the United States of America.

    This press release does not constitute an offer to sell or a solicitation
or an offer to buy any of the securities in the U.S. The securities have not
been and will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act"), or any state securities laws and
may not be offered, sold or delivered within the United States except in
transactions exempt from the registration requirements of the U.S. Securities
Act and applicable states securities laws.
    %SEDAR: 00003284EF




For further information:

For further information: Jean-Marc Lulin, President and Chief Executive
Officer; Normand Champigny, Executive Vice President, (450) 646-3015, Fax:
(450) 646-3045, info@azimut-exploration.com, www.azimut-exploration.com

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Azimut Exploration Inc

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