Azimut Defines Major Lithium Exploration Targets on its 100% owned James Bay Lithium Property, Quebec

LONGUEUIL, Quebec, Aug. 28, 2023 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. (“Azimut” or the “Company”) (TSXV: AZM) (OTCQX: AZMTF) is pleased to provide a detailed overview of its 100% owned James Bay Lithium Property (“JBL” or the “Property”) comprising 13 claim blocks (“JBL1” to “JBL13”, 2,954 claims, 1,539.2 km²) in the Eeyou Istchee James Bay region of Quebec, the largest of which is JBL1. This press release also underscores Azimut’s multifaceted lithium exploration strategy.

The province of Quebec is hosting an unprecedented exploration boom for lithium. Azimut is aggressively pursuing several concurrent programs in the James Bay region to validate key targets and promptly reach the drilling stage (see press releases of January 23 and August 21, 2023). Azimut’s lithium exploration work currently focuses on eight (8) extensive properties totalling 5,976 claims over 3,094.1 km² (see Figure 1).

Quebec is well positioned to play a key role in the green energy transition, with strong support from the provincial government. It benefits from an unrivalled strategic advantage, combining the following main factors (see Figure 2):

• An emerging world-class lithium potential in the James Bay region;
• Excellent infrastructure and hydropower availability at low cost;
• Sustainable and constructive relationships with the Cree First Nations;
• One of the best mining jurisdictions worldwide; and
• The development of a multibillion-dollar EV manufacturing industry in the southern part of the province.
  

New lithium mines in Quebec are expected to become a major feedstock source for the processing industry.

HIGHLIGHTS (see Figures 3 to 13)

The JBL Property comprises 13 claim blocks (2,954 claims) that Azimut will explore through self-funded programs.

JBL1 (1,679 claims, 872.3 km²)

• This 52-km-long by 28-km-wide claim block corresponds to a prominent regional-scale lithium-prospective area identified through the Company’s systematic multi-parameter data processing conducted at the scale of the James Bay region (over 154,555 km²) (see press release of January 23, 2023 and targeting approach below).

• JBL1 is ranked by Azimut as one of the strongest and largest lithium footprints in lake sediments in the James Bay region, supported by other pathfinder elements (cesium, rubidium, gallium, and tin) related to LCT pegmatites. These geochemical anomalies generally correlate well with already recognized pegmatites and peraluminous granites with pegmatitic textures. Multispectral remote sensing analysis led to the recognition of numerous additional quality targets (>100). Substantial prospecting work will soon commence for this claim block. Azimut believes that the features of the JBL1 targets are very promising, and their field validation is a critical step.

• Quality infrastructure (roads, power lines) is present near the claim block, including the access road to the Eleonore mine (Newmont) 35 km to the east.