Azimut and SOQUEM Sign a Letter of Intent for the Northern Nickel Corridor Project

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[{"type":"text","content":"Azimut and SOQUEM Sign a Letter of Intent for the Northern Nickel Corridor ProjectRegional Initiative to Unlock the Nickel Potential of the James Bay Region, Quebec\nLONGUEIL, Quebec, April 14, 2026 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. (“Azimut” or the “Company”) (TSXV:AZM) (OTCQX:AZMTF) is pleased to announce it has signed a non-binding letter of intent (the “LOI”) with SOQUEM Inc. (“SOQUEM”) regarding a regional-scale strategic alliance covering 27 claim blocks (1,635 claims), collectively forming the Northern Nickel Corridor (“NNC”) Project in the Eeyou Istchee James Bay region of Quebec, Canada (see Figures 1 and 2). Under the terms of the LOI, SOQUEM will have the right to earn up to a 60% interest in the NNC Project by incurring cumulative exploration expenditures of $11,000,000 and making cash payments totalling $350,000. This new Azimut-SOQUEM alliance aims to unlock the nickel potential of a vast, largely underexplored region extending 360 kilometres east-west by 60 kilometres north-south. Other strategic and critical metals (platinum, palladium, copper, cobalt), commonly associated with nickel deposits, will also be included in the exploration objectives. In 2026, a major high-resolution magnetic-electromagnetic heliborne survey will be conducted to initially assess the claim blocks, followed by a field-based target validation program. The newly-formed NNC Project represents the northern part of Azimut’s James Bay Nickel (“JBN”) Project, which the Company generated during its regional-scale predictive modelling over an area of 174,200 km2 (see press release of July 5, 2022i). Exploration work conducted by Azimut in the region since 2022 has led to two significant high-grade nickel discoveries (see below). The multi-parameter footprints of these discoveries are comparable to the footprints of the targets covered by the 27 claim blocks of the LOI. Key Terms of the LOI SOQUEM will have the option to earn an initial 50% undivided interest in the NNC Project over 3 years by incurring $5,000,000 in exploration expenditures and making cash payments totalling $200,000 (the “First Option”). The initial $2,000,000 in expenditures will be a firm commitment. The obligations of the First Option are defined accor...

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