Azimut Exploration Inc. reported assay results from the first hole of the maiden 5,000-metre core drilling program on the Galinée Property (the ?Property?) in the Eeyou Istchee James Bay region of Quebec, Canada. Based on a visual examination of the drill core, other significant lithium intercepts are expected from this program. Azimut and its partner SOQUEM Inc. (?SOQUEM?) have ranked the Galinée Property as one of their top priorities for 2024.

Following receipt of the results of this maiden program, a new drilling campaign will be designed to accelerate the definition of the mineralized zone. A property-scale comprehensive prospecting phase will also be conducted over the summer. Azimut is the operator of the work program.

In addition to Galinée, eight (8) of Azimut?s other properties will be subject to lithium exploration programs in 2024. Azimut holds the larger multicommodity mineral exploration portfolio in Quebec (gold, copper, nickel, lithium) and is one of the province?s most active explorers. Hole GAL23-001: 2.48% Li2O over 72.7 m (from 139.5 m to 212.2 m) including: 3.38% Li2O over 18.0 m (from 174.0 m to 192.0 m); 3.27% Li2O over 12.7 m (from 199.5 m to 212.2 m); 1.30% Li2O over 7.0 m (from 323.4 m to 330.4 m).

The main objective of this maiden drilling program was to test the down dip extension of the deposit defined on the adjacent Adina property, where Winsome Resources Ltd. (?Winsome?) announced an initial inferred mineral resource estimate of 59 million tonnes at 1.12% Li2O. The previously disclosed visual observations of spodumene pegmatites in the Galinée drill core supported the downdip extension of the Adinadeposit onto the Property. The visual examination of the drill core also indicated a roughly east-west-trending lithium zone with a strike length of 700 metres at Galinée. This zone remains largely open to the east and south.

More drilling will better define the geometry and true thickness of the pegmatite bodies. Initial data suggest a shallow dip to the south ranging from subhorizontal to 15 degrees. To date, seventeen (17) holes have been drilled, totalling 4,914.9 metres.

Eleven (11) holes (including GAL23-001) have cut significant spodumene mineralization. Pending assay results will be reported as soon as they become available. Spodumene crystals generally range from a few to 50 centimetres long, with greyish-beige to greenish-beige colours.

A portable LIBS (Laser Induced Breakdown Spectroscopy) analyzer was used to confirm the presence of lithium. Other associated minerals include quartz, white feldspar, tourmaline and, less frequently, garnet, apatite, lepidolite and colombo-tantalite. Holmquistite, a typical lithium-bearing amphibole formed at the margins of lithium-rich pegmatites, has also been observed.

The host rock is dark green amphibolite. Emerging lithium district: Known lithium pegmatite occurrences appear spatially correlated with the Trieste Formation, a sheared mafic greenstone belt with ironstones, partly bounded by paragneisses. Trieste has a relatively distinct low magnetic footprint, which comprises thin, strongly magnetic interlayed horizons.

At the current stage of exploration, spodumene pegmatite mineralization roughly delineates a regional corridor 18 kilometres long by 1 kilometre wide. As previously disclosed, the Galinée Property and other neighbouring projects are marked by well-defined lake-bottom sediment anomalies in elements that are widely recognized as pathfinders for LCT pegmatites (lithium-cesium-rubidium-gallium-tin). Recent exploration results in the area indicate good spatial correlation between lithium mineralization in the bedrock and proximal lake sediment anomalies in pathfinder elements for LCT pegmatites.

These anomalies can then be used as a key criterion to define exploration targets in underexplored sectors. Notably, most of these lake sediment anomalies are spatially superimposed to the Trieste Formation, which appears thus far to be the main host for LCT pegmatites in the area. Only a very small part of the Galinée Property has been explored for lithium to date: The currently drilled area, in the northernmost part of the Property, is part of a much more extensive prospective zone continuing for 12 kilometres further east and over 21 kilometres along the northwest side of the project.

In the southern half of the Property, several sectors with 22 kilometres of cumulative strike also display a favourable geological context coupled with attractive lake sediment anomalies. At Galinée, target definition and ranking is also supported by lithogeochemical data, untill sampling results and remote sensing analysis. At the scale of the James Bay region, certain aspects of Galinée?s context are comparable with the apparent regional context for the CV5 lithium deposit (Patriot Battery Metals): Spodumene pegmatite bodies hosted in sheared mafic greenstone belts belonging to the La Grande Subprovince, close to the tectono-metamorphic boundary with the Opinaca Subprovince.

Presence of peraluminous post-tectonic intrusions (Vieux Comptoir and/or Tilly suites). Well-defined lake sediment geochemical anomalies (lithium-cesium-rubidium-gallium-tin) spatially related to lithium mineralization. Drilling Contract and Analytical Protocols: Chibougamau Drilling Ltd. of Chibougamau (Quebec) is drilling with a core diameter of BTW.

Core samples are sent to ALS Laboratories in Val-d?Or (Québec) for ICP multi-element analysis (laboratory codes: ME-MS61, ME-MS89L, ME-ICP82b). Azimut applies industry-standard QA/QC procedures to its drilling programs. All batches sent for analysis include certified reference materials, blanks and field duplicates. The lithium content related to spodumene mineralization can only be accurately determined by assay analysis.

The true widths of the drill intervals have not been determined at this stage. Grab samples are selective by nature and unlikely to represent average grades. The Galinée Property: The Galinée Property (649 claims, 335 km2) is a 50/50 joint venture between Azimut and SOQUEM, operated by Azimut.

The 36-kilometre-long project is about 50 kilometres north-northwest of the Renard diamond mine (Stornoway) and 60 kilometres south of the Trans-Taiga Road, a regional highway.