Silver Sprute

Silver Sprute

December 18, 2008 04:15 ET

Azimut and Silver Spruce report positive results at Hudson Bay, Quebec, with grades up to 3.01% U3O8

    Symbol: AZM.TSX Venture

    LONGUEUIL, QC, Dec. 18  - Azimut Exploration Inc. ("Azimut")
and its partner Silver Spruce Resources Inc. ("Silver Spruce") report positive
uranium results from their summer 2008 exploration program at the Hudson Bay
property in Nunavik, Quebec. A one-month prospecting program assessed target
areas that were previously defined by anomalous uranium values (up to 1,950
ppm) in lake-bottom sediments and helicopter-borne geophysics (press release
of April 22, 2008).
    94 samples have been collected from outcrops and have returned assays up
to 3.01% U3O8 (66.3 lbs/t), as well as 3 boulder samples with assays up to
0.027% U3O8. The mineralized samples correlate well with the kilometre-scale
helicopter-borne radiometric target areas and lake-bottom sediments results,
and validate the uranium exploration potential of the property.
    Assay results for the 97 grab rock samples are as follows:- 11 samples with values above 0.05% U3O8, including 10 samples with
      values above 0.1% U3O8. The best values are 3.01% U3O8,
      0.66% U3O8, 0.40% U3O8, 0.31% and 0.24% U3O8;
    - 34 samples with values between 0.01% and 0.05% U3O8;
    - 52 samples with values less than 0.01% U3O8.U/Th ratios for eight samples above 0.1% U3O8 range from 1 to 20. Ratios
are generally less than 1 for other samples. Uranophane (a secondary uranium
mineral), hematite and magnetite were observed at the mineralized outcrops.
Scintillometer readings from mineralized outcrops showing values above 0.1%
U3O8 range from 1,500 to 40,000 cps. Mineralization with the highest U/Th
ratios is hosted mostly in pegmatite and granite. Elevated Pb values (from 390
to greater than 5,000 ppm) and Ag values (up to 65 g/t) are associated with
the high uranium and low thorium samples. While mineralization discovered to
date appears to be limited in extent, the initial results and favourable
geological and structural settings are encouraging for further work in the
unexplored areas of the property. All data is being compiled and a follow up
program will be defined in due course.
    The property comprises 661 claims covering a surface area of 312 km2.
Azimut has granted to Silver Spruce the option to earn a 50% interest on the
Hudson Bay property and an additional 15% interest upon the delivery of a
bankable feasibility study. Silver Spruce is the project operator. All rock
samples were assayed by an ICP method at Activation Laboratories in Ancaster,
Ontario. Activation Laboratories is an ISO-IEC 17025 accredited laboratory.
    This press release was prepared by geologist Jean-Marc Lulin acting as
Azimut's Qualified Person under NI 43-101. Azimut is a mineral exploration
company using a proprietary targeting methodology combined with considerable
exploration know-how to discover major ore deposits.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.
    %SEDAR: 00003284EF

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