Azimut and SOQUEM Resume Drilling on the High-Grade Lithium Zone at Galinée, James Bay Region, Quebec - Seite 2

• These high-grade lithium intervals, related to coarse spodumene pegmatite, are interpreted to have intersected the southern extension of the Adina deposit on the adjacent Adina property (Winsome Resources Ltd). Winsome Resources announced an initial inferred mineral resource estimate of 59 Mt at 1.12% Li₂O for the Adina deposit (Winsome Resources’ press release of December 11, 2023).

• As currently defined, the lithium zone on Galinée has a strike length of 700 metres and trends roughly east-west. It remains largely open on the Property to the east and south, with the variability in thicknesses and grades expected for these types of pegmatitic bodies. The new drilling phase will better define the geometry and true thickness of the pegmatites intersected to date and their relationship to the Adina deposit. Initial data suggest a shallow dip to the south, ranging from subhorizontal to 15 degrees.
  

• At a much larger scale, the Galinée Property displays strong exploration potential supported by Azimut’s project database and recently acquired results on surrounding properties belonging to other companies. The region is considered an emerging lithium district. A cumulative 60 kilometres of highly prospective strike length has been outlined on the Property (see press release of February 23, 2024).
  

Drilling Contract and Analytical Protocols

Miikan Drilling Inc., a majority Cree-owned company, has been contracted for the current program. Miikan Drilling is owned by local communities and Chibougamau Diamond Drilling Ltd of Chibougamau (Quebec). Drilling is conducted with a core diameter of BTW.

Core samples are sent to ALS Laboratories in Montréal (Quebec) 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.

About 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 Diamonds (Canada) Inc.) and 60 kilometres south of the Trans-Taiga Road, a regional highway.

Qualified Person

Dr. Jean-Marc Lulin (P.Geo.) prepared this press release as Azimut’s qualified person within the meaning of National Instrument 43-101. Rock Lefrançois (P.Geo.), Vice President of Exploration, and François Bissonnette (P.Geo.), Operations Manager, also reviewed the contents of this press release.