Symbol: AZM.TSX Venture
LONGUEUIL, QC, July 30, 2013 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut" or "the Company") (TSXV: AZM) announces that a total of 710,000 stock options have been granted to its directors, officers, employees and consultants. Of this number, 640,000 have been granted to its directors and officers and 70,000 to its employees and consultants. These options have an exercise price of $0.19 per share and are exercisable during a 10-year period.
Azimut is continuing to focus its effort to develop new partnerships in Quebec. The Company also continues to identify high quality exploration opportunities based on its systematic data processing approach.
In Nunavik, the Rex Trend, including the Rex, Rex South and NCG properties, provides Azimut with a commanding position over a new 330-kilometre-long mineral belt containing major polymetallic targets. The Company has also a long-standing exploration focus in the James Bay region with active partnerships on the following key gold properties: Eleonore South (Goldcorp/Eastmain JV), Wabamisk (Goldcorp JV), Opinaca A and Opinaca B (Hecla Option/Everton JV).
The Company maintains a conservative business approach by minimizing equity dilution and by preserving its cash position, particularly in the current mining industry context. Azimut has 36.47 million shares issued and a working capital of $2.9 million.
Azimut is a mineral exploration company using cutting-edge targeting methodologies with the objective of discovering major ore deposits. The Company holds the largest mineral exploration portfolio in Quebec, mostly for gold, copper, tungsten and uranium.
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.
SOURCE: AZIMUT EXPLORATION INC.
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