Azimut and SOQUEM Cut Very High Grade Lithium Drill Intercepts on Galinée, James Bay Region, Quebec

2.68% Li2O over 54.6 m including 3.48% Li2O over 35.85 m

LONGUEIL, Quebec, May 08, 2024 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. (“Azimut” or the “Company”) (TSXV: AZM) (OTCQX: AZMTF) is pleased to report the first set of results from the second phase of diamond drilling on the Galinée Property (the “Property”) in the Eeyou Istchee James Bay region of Quebec, Canada.

During this second phase, 14 holes were drilled for a total of 3,203.65 metres, including two extended holes (GAL23-012ext and -013ext) and two abandoned holes (GAL24-019 and -027). Excellent visual results from this phase were previously reported (see press release of April 18, 2024) and all assays are still pending except for the hole announced today.

The current campaign, designed to further define and expand the high-grade lithium zone discovered during the maiden drilling program of late 2023 (see press releases of January 9 and February 23, 2024), will continue into the summer. Azimut and its partner SOQUEM Inc. have ranked the Galinée Property as one of their top priorities for 2024. Azimut is the operator of the work program.

HIGHLIGHTS (see Figures 1 to 4, Table 1)

• Hole GAL24-020: 2.68% Li₂O over 54.6 m (from 89.25 m to 143.85 m), including
                                    2.26% Li₂O over 8.5 m (89.25 m – 97.75 m) and
                                    3.48% Li₂O over 35.85 m (108.0 m – 143.85 m)
• This interval was encountered in a white pegmatite cut over a length of 71.8 metres from 75.9 m to 147.7 m along hole (true width undetermined at this stage). The spodumene content was estimated to be up to 40%, except for a strongly mineralized section with up to 70% spodumene over 14.6 metres from 108 m to 122.6 m, with giant crystals reaching up to 1.4 metres long.
  
  
• Furthermore, hole GAL24-020 yielded significant grades for the following critical elements:
  -     Cesium:         1,253 ppm Cs₂O over 39.5 metres (from 82.0 m to 121.5 m)
  -     Tantalum:     123.6 ppm Ta₂O₅ over 71.85 metres (from 75.85 m to 147.7 m)
  -     Gallium:         113.1 ppm Ga₂O₃ over 53.4 metres (from 90.45 m to 139.5 m)