Azimut's new discovery at North Rae and AREVA's findings at CAGE confirm district-scale uranium potential of the Ungava Bay region



    Symbol: AZM.TSX Venture

    LONGUEUIL, QC, July 30 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut")
reports the prospecting discovery of a 2.4-km-long mineralized zone on its
North Rae property located in the eastern part of the Ungava Bay region in
Nunavik, Quebec. The discovery of this new zone (the "Cirrus Zone") further
confirms the district-scale uranium potential of the region. Seven other
outcropping mineralized zones totalling a cumulative length of 10 km with
grades up to 3.3% U3O8 were previously reported by Azimut.
    The district-scale potential of the region is also demonstrated by
AREVA's discovery of 14 mineralized zones with grades up to 9.34% U3O8 on its
neighbouring CAGE project. In a comprehensive report detailing its 2006
exploration work, which was filed in 2007 and recently made available by the
Ministry of Natural Resources and Fauna of Quebec, AREVA provides useful
information regarding its discovery. In particular, the Lake Harbour Group, a
Paleoproterozoic sedimentary domain almost entirely staked in this area by
Azimut and AREVA, is described by AREVA as an "important new
uranium-thorium-rich province". AREVA is a world leading enterprise in the
nuclear sector.

    Three figures, which are appended
(http://www.azimut-exploration.com/images/en/Fig_AZM_PR_July302008.pdf) to
this press release, support the vision of an emerging uranium district in the
Ungava Bay region:

    
    - Figure 1: Location of uranium mineralization in Quebec and Labrador;
    - Figure 2: Uranium in lake-bottom sediments and location of uranium
                mineralization on Azimut's and AREVA's properties in the
                Ungava Bay region;
    - Figure 3: Helicopter-borne uranium anomalies and location of uranium
                mineralization on the North Rae and Daniel Lake properties.

    Cirrus Zone

    Azimut recognized this outcropping mineralized zone earlier this summer by
surface prospecting along a 2.4-km-long trend within a 100- to 250-m wide
envelope. The Cirrus Zone encompasses a dyke swarm of mineralized pegmatite
hosted by biotitic gneisses. The dip ranges from 25 degrees to 40 degrees to
the east. Spectrometric readings on 261 outcrops range from 1,000 to
26,000 counts per second with average U/Th ratios of 1 to 5 (using Radiation
Solution (R) RS-125 and RS-230). A total of 261 grab rock samples were
collected and sent for analysis.

    Azimut's and AREVA's results indicate the potential for a new uranium
    district

    AREVA's CAGE project consists of three separate claim blocks forming the
CAGE, Amaujaq and Brumath properties (total of 5,093 claims). Based on
information made public to date, AREVA reports the discovery of 14 mineralized
zones, most of them hosted in marble units of the Lake Harbour metasedimentary
sequence.
    AREVA's main mineralization (the Davis Inlet and CAGE zones) is focused
along highly strained ductile contacts between paragneiss, pegmatite and
marbles. At CAGE, the length of the anomalous zone is about 5.4 km. According
to AREVA, the CAGE A, B, C and E zones indicate the best potential to define a
mineralized volume. The best results obtained in 2006 in this sector are
8.13% U3O8 (grab sample) and, through limited channel sampling, 0.45% U3O8
over 1 m. AREVA's exploration models in the region comprise two types: the
Rossing type (uranium mineralization hosted in pegmatites) and the "CAGE
type", which is described as "unique" (uranium mineralization hosted in
marbles and calc-silicate rocks).
    Azimut's North Rae and Daniel Lake properties comprise 2,825 claims and
are among Azimut's six properties in the region totalling 8,465 claims (see
Figure 2). Four of these properties (North Rae, Daniel Lake, Kangiq and
Tasirlaq) cover an 80 by 40 km area. At North Rae, eight different outcropping
mineralized zones have been discovered to date with a cumulative strike length
of 12.4 km. Mineralized facies are mostly pegmatites. The location of the
mineralized zones seems to be controlled by two main geologic factors: along
or close to the Archean-Proterozoic tectonized contact (Jonas, Aqpiq,
Amittujaq, Ilaluga and Cirrus zones), and along or close to deep-seated
intra-Archean structures (Tasialuk, Torrent and Tasik zones). Several sectors
show higher uranium grades combined with positive U/Th ratios, in particular
at Jonas and Aqpiq.
    Azimut considers the following to be key regional-scale features that
demonstrate the potential for a new uranium district: (1) very distinct
region, approximately 220 by 80 km, characterized by high-level uranium
anomalies in lake bottom sediments; (2) extensive and sharply defined uranium
airborne anomalies, often with favourable U/Th ratios, that spatially
correlate well with prominent uranium anomalies in lakes; (3) discovery of
extensive mineralized zones in various host rocks (pegmatite, marble, etc.)
with uranium contained in uraninite; and (4) favourable geological environment
with: remnants of a gneissic and granitized Archean core bounded by a
Paleoproterozoic supracrustal rock package (Lake Harbour Group); subsequent
Paleoproterozoic tectonometamorphic event with crustal-scale structures; and
lithological control of primary uranium mineralization in pegmatite swarms
spread out at the regional scale, providing ample evidence of a deep-rooted
mineralized system.
    Many major targets on Azimut's Ungava Bay properties remain untouched by
follow-up work. Azimut notably controls a 62-km-long contact between the
Archean core and Proterozoic metasedimentary rocks, including marbles. At
least 50% of the helicopter-borne anomalies have not been prospected yet.

    2008 program at North Rae and Daniel Lake

    The Azimut's 2008 exploration work will focus on three primary objectives:
    (1) Rank the already known mineralized zones to identify quality drilling
        targets;
    (2) Pursue reconnaissance prospecting of helicopter-borne uranium
        targets;
    (3) Initiate drilling to determine the lateral and depth continuity of
        surface discoveries that present grade and volume potential.
    

    A $2.0 million program is planned for both the North Rae and Daniel Lake
properties. Since the start of the 2008 campaign, 654 rock samples have been
collected and 1,342 additional line-kilometres of helicopter-borne geophysics
have been flown.
    This press release was prepared by geologist Jean-Marc Lulin, Azimut's
President and CEO and Qualified Person as defined by NI 43-101. Fieldwork is
conducted by IOS Services Géoscientifiques Inc. of Saguenay, Quebec, under the
supervision of Sylvain Guérard, Azimut's Vice-President Exploration and
Qualified Person. Azimut is a mineral exploration company using cutting-edge
targeting methodologies with the objective of discovering major ore deposits.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.
    %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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