Azimut - New Ground Acquisitions in the Area of the Discovery by the Department of Natural Resources in the Sept-Iles Region.

QUEBEC, QUEBEC--(BUSINESS WIRE)--Feb. 14, 1997--AZIMUT INC.(ME AZM.) The syndicate formed by Exploration Azimut Inc., S.E.M. Vior Inc. and Virginia Gold Mines Inc., is pleased to announce the acquisition by staking of 179 claims in the Sept-Iles area of Quebec, Canada. The claims cover 28 km2 within a territory centered about 20 kilometres south of the Lac Volant copper-nickel-cobalt discovery by the Quebec Department of Natural Resources in August 1996.

The territory has recently been the object of a staking rush after the lifting of the staking ban by the Quebec Government on January 8, 1997. Staking by the syndicate was mostly guided by the results of an airborne geophysical survey flown on its behalf by SIAL Geosciences following the reopening of the territory. Many electromagnetic and magnetic anomalies have been staked by the syndicated in geological settings similar to the Lac Volant discovery. Some of these anomalies are located in the vicinity of known copper-nickel showings or are associated with lake bottom sediments anomalies.

These new acquisitions add to the impressive land holdings (1,800 claims) already owned 100 percent by the syndicate. The syndicate also owns 526 claims located closer to the Lac Volant showing and subject to an agreement with Kennecott Canada which can earn a 50 percent interest in return for $2 million in exploration work over the next three years. A line-cutting program was initiated in December and will be followed by ground geophysical surveys in March and April.

CONTACT: Exploration Azimut Inc.

Jacquelin Gauthier, 418/ 692-0692

418/694-0331 (FAX)