ASX / Media Release 24 January 2011 Robust gold intercepts from ongoing drilling at the Hicks Prospect Including: 17m @ 5.4g/t Au, 42m @ 1.8g/t Au, 29m @ 2.2g/t Au and 21m @ 2.4 g/t Au Azimuth Resources Limited (ASX:AZH) is pleased to announce results for a further thirteen reverse circulation drill holes (HRC007‐HRC019) from its ongoing 8,000m resource definition drilling program at the 100% owned Hicks prospect, located within the West Omai Gold Project, Guyana, South America. Highlights HRC018 contained two significant intercepts 17m @ 5.35 g/t Au from 14m and 42m @ 1.72 g/t Au from 75m, with the hole ending in mineralisation at 117m; HRC014 intersected 8m @ 1.38g/t Au from surface, 29m @ 2.20g/t Au from 20m, and 15m @ 0.49g/t Au from 87m with the hole ending in mineralisation at 102m; and HRC012 intersected multiple zones of gold mineralisation ‐ 2m @ 1.48g/t Au from surface, 5m @ 1.24g/t Au from 20m, 21m @ 2.40 g/t Au from 28m and 1m @ 5.5g/t Au from 61m. The end of hole intersection in HRC014 of 15m @ 0.49g/t Au is of particular interest to the Company, being a newly found and completely untested mineralised zone to the south west of the main Hicks zone (see Figure 2).

Though the grade of this intercept is low, within a shear hosted system such as Hicks where pinch and swell of mineralised zones is to be expected, potential may exist for this zone to improve in grade along strike or up and down dip. In addition to HRC014, the intersection in HRC018 of 42m @ 1.72g/t Au from 75m to the end of hole is of significance to the Company (see Figure 4). This intersection is in a poorly drilled and defined parallel zone situated immediately to the northeast of the main Hicks zone.

Previous drilling and trenching has only defined about 200m strike of this zone near surface. Consequently, this wide intersection demonstrates the potential for the poorly explored parallel zones to the main Hicks lode to host significant mineralisation.

Further drilling beyond the planned 8000m will be required to properly define and constrain parallel zones of mineralisation at Hicks. In general results returned to date are broadly consistent with the historic wide spaced diamond drilling at Hicks. All recent results are reported in Table 1 below together with previously reported drill results (HRC001‐HRC006) which included HRC002‐ 30m @ 7.68g/t Au from 54m and HRC004 and 15m @ 1.76g/t Au from 61m. General progress and drilling plan is shown in Figure 1 and representative cross sections are shown in Figures 2, 3 and 4. Outlook The Company recommenced drilling at the Hicks Prospect on January 8, 2011. To expedite planned resource drilling at Hicks and further exploratory drilling of other prospects, a second reverse circulation rig has now been contracted for 5000 metres of drilling.

The rig which arrived in country in early January 2011 has a prior 2000 metre drilling contract to complete before it is scheduled to mobilise to the West Omai Project.

This second rig is the only other RC rig currently in Guyana, apart from the RC rig owned by the Company.

The Company expects the rig to arrive at the Hicks prospect sometime in February and looks forward to accelerating the pace of its ongoing drill program. To download the full ASX announcement click here: http://ir.iguana2.com/epsilon/news-item?S=AZH&E=ASX&N=525435 For further information please contact: Mr Josh Ward Company Secretary Azimuth Resources Ltd Tel: (08) 9482 0540 Em:
Mr James Harris Professional Public Relations Tel: (08) 9388 0944 Em: The information in this report that relates to exploration results, mineral resources or ore reserves is based on information compiled by Mr Dominic OSullivan, who is a Member of The Australasian Institute of Mining and Metallurgy.

Mr OSullivan is the Managing Director and full‐time employee of Azimuth Resources Limited Mr OSullivan has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves")
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