Azimut Announces Filing of NI 43-101 Technical Report for the Patwon Gold Zone, Elmer Property, James Bay Region, Quebec

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LONGUEUIL, Quebec, Jan. 04, 2024 (GLOBE NEWSWIRE) — Azimut Exploration Inc. (“Azimut” or the “Firm”) (TSXV: AZM) (OTCQX: AZMTF) is happy to announce that it has filed on SEDAR+ an impartial Technical Report (the “Report”) ready in accordance with Nationwide Instrument 43-101 for the Patwon Gold Zone on its 100% owned Elmer Property within the Eeyou Istchee James Bay area of Quebec, Canada.

The Report, titled “Technical Report and Preliminary Mineral Useful resource Estimate for the Patwon Deposit, Elmer Property, Quebec, Canada”, is dated January 4, 2024, and helps the disclosure in a press launch issued by the Firm on November 21, 2023, of an preliminary Mineral Useful resource Estimate (“MRE”) for the Patwon Gold Zone. There is no such thing as a distinction between the Report and the knowledge disclosed within the November 21 press launch.

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The Report will be discovered beneath the Firm’s profile on SEDAR+ (www.sedarplus.ca) and on Azimut’s web site (www.azimut-exploration.com).

As disclosed within the press launch of November 21, 2023, the preliminary MRE contains:

• Indicated sources:    311,200 ounces in 4.99 million tonnes grading 1.93 g/t Au
• Inferred sources:      513,900 ounces in 8.22 million tonnes grading 1.94 g/t Au

These mineral sources embrace:

• Open-pit mineral sources (0.55 g/t Au cut-off)
  • Indicated:              309,200 ounces in 4.97 million tonnes grading 1.93 g/t Au
  • Inferred:                310,700 ounces in 4.21 million tonnes grading 2.29 g/t Au

• Bulk underground mineral sources (1.05 g/t Au cut-off)
  • Inferred:                163,700 ounces in 3.49 million tonnes grading 1.46 g/t Au

• Selective underground mineral sources (1.90 g/t Au cut-off)
  • Indicated:              2,000 ounces in 0.022 million tonnes grading 2.83 g/t Au
  • Inferred:                39,500 ounces in 0.52 million tonnes grading 2.36 g/t Au

Notes: These mineral sources aren’t mineral reserves as they don’t have demonstrated financial viability. The MRE follows present CIM Definition Requirements (2014) and CIM MRMR Finest Observe Pointers (2019). The impartial and certified individuals (“QPs”) for the mineral useful resource estimate, as outlined in NI 43-101, are Martin Perron, P.Eng., Chafana Hamed Sako, P.Geo., and Simon Boudreau, P.Eng., all from InnovExplo Inc. The efficient date is November 14, 2023.

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A sensitivity evaluation signifies low variability of the MRE beneath varied gold value and cut-off grade situations, underscoring the robustness of the Patwon Zone.

Preliminary metallurgical exams point out non-refractory free-milling gold that’s simply recoverable via a mixture of gravity circuit and standard cyanide leaching. Restoration charges attain as much as 94%, with gravity recoveries as much as 37%.

The MRE confirms the standard of the gold mineralization within the Patwon Zone and helps further exploration to additional increase the mineral stock in its neighborhood. Moreover, Azimut considers the 35-kilometre-long Elmer Property to stay at an early exploration stage with robust gold potential. Two targets have been outlined for the upcoming drilling program, which is scheduled to start in March 2024:

• Increase the Patwon Gold Zone, which stays open near-surface alongside strike, utilizing shallow drill holes from floor all the way down to a vertical depth of 300 metres; and
• Comply with up on vital gold-bearing zones alongside shear zones immediately on strike or subparallel to Patwon. The principle drill-ready goal zones have a cumulative strike size of 20.5 kilometres.

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Certified Individuals

InnovExplo Inc., a mining consulting agency based mostly in Val-d’Or (Quebec), ready the MRE as outlined by Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Tasks (“NI 43-101”). The impartial certified individuals for the MRE, inside the which means of NI 43-101, are Martin Perron (P.Eng.), Chafana Hamed Sako (P.Geo.) and Simon Boudreau (P.Eng.), all from InnovExplo Inc.

Dr. Jean-Marc Lulin (P.Geo.) ready this press launch as Azimut’s certified individual inside the which means of NI 43-101.

About Azimut

Azimut is a number one mineral exploration firm with a stable popularity for goal era and partnership improvement. The Firm holds the most important mineral exploration portfolio in Quebec (Canada). Its wholly owned flagship mission, the Elmer Gold Mission, has superior to the useful resource stage with a powerful exploration upside. The Firm additionally controls a strategic land place for copper, gold, nickel and lithium (see the doc: Azimut in Numbers).

The Firm makes use of a pioneering method to massive information analytics (the proprietary AZtechMine™ knowledgeable system) enhanced by intensive exploration know-how. Azimut’s aggressive edge is predicated on systematic regional-scale information evaluation and concurrently lively initiatives. The Firm maintains rigorous monetary self-discipline and a powerful steadiness sheet, with 85.2 million shares issued and excellent.

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Contact and Data

Jean-Marc Lulin, President and CEO
Tel.: (450) 646-3015

Jonathan Rosset, Vice President Company Growth
Tel: (604) 202-7531
information@azimut-exploration.com    www.azimut-exploration.com

Cautionary be aware concerning forward-looking statements

This press launch incorporates forward-looking statements, which mirror the Firm’s present expectations concerning future occasions associated to the drilling outcomes on the Elmer Property. To the extent that any statements on this press launch comprise data that isn’t historic, the statements are primarily forward-looking and are sometimes recognized by phrases akin to “contemplate”, “anticipate”, “count on”, “estimate”, “intend”, “mission”, “plan”, “potential”, “recommend” and “consider”. The forward-looking statements contain dangers, uncertainties, and different components that might trigger precise outcomes to vary materially from these expressed or implied by such forward-looking statements. There are various components that might trigger such variations, notably volatility and sensitivity to market metallic costs, the influence of adjustments in overseas foreign money trade charges and rates of interest, imprecision in reserve estimates, recoveries of gold and different metals, environmental dangers, together with elevated regulatory burdens, surprising geological circumstances, antagonistic mining circumstances, neighborhood and non-governmental group actions, adjustments in authorities laws and insurance policies, together with legal guidelines and insurance policies, world outbreaks of infectious illnesses, together with COVID-19, and failure to acquire needed permits and approvals from authorities authorities, in addition to different improvement and working dangers. Though the Firm believes that the assumptions inherent within the forward-looking statements are affordable, undue reliance shouldn’t be positioned on these statements, which solely apply as of the date of this doc. The Firm disclaims any intention or obligation to replace or revise any forward-looking assertion, whether or not on account of new data, future occasions or in any other case, apart from as required to take action by relevant securities legal guidelines. The reader is directed to rigorously evaluation the detailed threat dialogue in our most up-to-date Annual Report filed on SEDAR+ for a fuller understanding of the dangers and uncertainties that have an effect on the Firm’s enterprise.

Neither TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this launch.

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