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

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

The Report, titled “Technical Report and Initial Mineral Resource Estimate for the Patwon Deposit, Elmer Property, Quebec, Canada”, is dated January 4, 2024, and supports the disclosure in a press release issued by the Company on November 21, 2023, of an initial Mineral Resource Estimate (“MRE”) for the Patwon Gold Zone. There is no difference between the Report and the information disclosed in the November 21 press release.

The Report can be found under the Company’s profile on SEDAR+ (www.sedarplus.ca) and on Azimut’s website (www.azimut-exploration.com).

As disclosed in the press release of November 21, 2023, the initial MRE comprises:

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

These mineral resources include:

• Open-pit mineral resources (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 resources (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 resources (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 resources are not mineral reserves as they do not have demonstrated economic viability. The MRE follows current CIM Definition Standards (2014) and CIM MRMR Best Practice Guidelines (2019). The independent and qualified persons (“QPs”) for the mineral resource estimate, as defined in NI 43-101, are Martin Perron, P.Eng., Chafana Hamed Sako, P.Geo., and Simon Boudreau, P.Eng., all from InnovExplo Inc. The effective date is November 14, 2023.