Silver Sprute

Silver Sprute

April 22, 2008 04:30 ET

Azimut and Silver Spruce identify uranium targets on the Hudson Bay property in northern Quebec

    Symbol: AZM.TSX Venture

    LONGUEUIL, QC, April 22  - Azimut Exploration Inc. ("Azimut")
and its partner Silver Spruce Resources Inc. ("Silver Spruce") have delineated
uranium targets on the Hudson Bay property in northern Quebec. The targets are
defined by uranium values of up to 1,950 ppm in lake-bottom sediments, and by
helicopter-borne radiometric survey results. A prospecting field program will
start this summer to assess these targets.
    The results of 293 lake-bottom sediment samples include 13 with values
equal to or higher than 100 ppm U, including a maximum value of 1,950 ppm U.
Three main kilometre-scale uranium anomalies have been delineated, one on each
of the property's claim blocks. These geochemical anomalies correlate well
with the uranium anomalies detected by the helicopter-borne geophysical
survey, which covered the entire property.
    The Hudson Bay property consists of 537 claims in three separate blocks
covering 253 km2 of land just east of Hudson Bay and 15 to 40 km north of the
village and airport of Umiujaq. Silver Spruce can acquire a 50% interest from
Azimut by performing exploration programs over a 5-year period, and may
acquire an additional 15% interest upon delivery of a bankable feasibility
study (press release dated April 4, 2007).
    The property is positioned along a major structural boundary at the
transition zone between the Minto and Bienville geological subprovinces. The
area is characterized by Archean intrusive rocks, as well as mafic and
ultramafic units. Uranium values up to 1.31% U3O8 have been reported in a
similar geological environment approximately 20 km to the south.
    The lake-bottom sediment survey was conducted under the supervision of
Réjean Girard, a geologist from IOS Services Géoscientifiques Inc. based in
Saguenay, Quebec. The samples were analyzed by ICP-MS at Activation
Laboratories in Ancaster, Ontario. Activation Laboratories is an ISO-IEC 17025
accredited laboratory. The helicopter-borne radiometric, magnetic and
electromagnetic survey, which totalled 1,489 line-km at a line spacing of
200 m, was carried out in September 2007 by McPhar Geosurveys, based in
Markham, Ontario.
    This press release was prepared by geologist Jean-Marc Lulin, the
company's Qualified Person as defined by NI 43-101. Azimut is a mineral
exploration company using cutting-edge targeting methodologies to discover
major ore deposits.

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