Azimut and Eastmain Sign Agreements for Two Claim Blocks Near the Eleonore Gold Discovery in James Bay, Quebec.

MONTREAL -- Azimut Exploration Inc. ("Azimut") (TSX VENTURE:AZM) and Eastmain Resources Inc. ("Eastmain") announce the signing of two letters agreement regarding two claim blocks for which Azimut currently holds a 100% interest.According to the agreements, Eastmain can acquire a 50% interest during a 5-year period and may acquire an additional 15% interest upon delivery of a bankable  feasibility study.

The subjects of these agreements, Block C and Block D of the Opinaca Property (see appended figure), occupy key positions near the Eleonore gold discovery made by Virginia Gold Mines in the James Bay region of Quebec.Both Azimut and Eastmain recognize Eleonore as a major discovery that may eventually lead to the establishment of a mining camp.

Block C (166 claims, 86.92 km2) is located immediately south of the Eleonore Property.It covers the southern extension of a well-defined arsenic anomaly occurring along the edge of a granitic intrusion. The Eleonore discovery falls along the same geochemical anomaly in a comparable geological context.

Eastmain can acquire a 50% interest from Azimut during a 5-year period under the following conditions:

-  Cash payments of $50,000 upon signing the agreement, $25,000 on
   the first and second anniversaries, and $30,000 on the third and
   fourth anniversaries for a total of $160,000.  Eastmain will also
   issue 30,000 common shares to Azimut upon signing the agreement,
   subject to the approval of the regulatory authorities.
-  Exploration work totalling $250,000 the first year (firm
   commitment) and $350,000, $600,000, $700,000 and 800,000 the
   following four years, for a total of $2,700,000.

Block D (188 claims, 97.99 km2), located NW of Eleonore, displays a strong arsenic anomaly in metasediments bordering granitic intrusions.

Eastmain can acquire a 50% interest from Azimut during a 5-year period under the following conditions:

-  Cash payment of $30,000 upon signing the agreement, $25,000 on the
   first and second anniversaries, and $30,000 on the third and
   fourth anniversaries for a total of $140,000.  Eastmain will also
   issue 45,000 common shares to Azimut upon signing the agreement,
   subject to the approval of the regulatory authorities.
-  Exploration work totalling $200,000 the first year (firm
   commitment) and $300,000, $400,000, $500,000 and $500,000 the
   following four years for a total of $1,900,000.

Eastmain will be the operator. Upon acquiring a 50% interest, Eastmain will have the option of gaining an additional 15% interest by delivering a bankable feasibility study. The conditions of acquisition for the additional interest are identical for both agreements but would apply separately:

-  Cash payment of $20,000 per year for five years and minimum work
   expenditures of $100,000 until completion of a bankable
   feasibility study within the 5-year period.
-  This period can be prolonged by Eastmain for up to three years by
   paying Azimut $50,000 per year.

If Eastmain decides not to exercise this additional option, Eastmain will provide Azimut with $100,000 in cash as final payment. In the case that the interest of either partner is reduced to less than 10%, the interest would be converted to a 2% NSR royalty, of which 1% may be bought back for $1,000,000.

Azimut began acquiring permits in this sector 18 months ago after it modeled the gold potential of an 85,000-km2 territory in James Bay region.On December 13, 2004, Azimut and Everton Resources Inc. announced the signing of two other option agreements that covered 546 claims totalling 284.92 km2 on the Opinaca Property (blocks A, A-East, B and B-North).

Azimut is a mineral exploration company utilizing cutting-edge targeting methodologies with the objective of discovering major ore deposits. The Company currently has 12.58 million issued shares.

A map of Opinaca Property-Eleonore Gold Discovery Area is available at the following address: http: //www2.ccnmatthews.com/database/fax/2000/opinaca.pdf

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

Azimut Exploration Inc. (TSX VENTURE:AZM)