Azimut Exploration, Inc. · TSXV:AZM
Azimut Exploration — Investor Presentation (September 2021)
28 slides from Azimut Exploration's investor presentation, Sep 7, 2021
Slide 1: Robust Discoveries, Bright Future
Robust Discoveries, Bright Future Corporate Presentation September 7, 2021 1
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Except for the statements of historical fact contained herein, the information presented in this presentation constitutes “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information”
Slide 3: Azimut in Québec, Canada
Azimut in Québec, Canada Investment Thesis Exploration Portfolio Elmer Discovery A Z t e c h M i n e TM One of the largest in Québec Flagship gold project Efficient targeting through Focus on gold and copper. 100% owned proven data analytics 3
Slide 4: Corporate Highlights
Corporate Highlights • One of the largest exploration portfolios in Québec • Advancing 100% owned Elmer gold discovery • Core business since 2003: Predictive modelling applied to mineral exploration alongside partnership development • Discovery of 500+ mineral prospects as a direct result of TM Azim
Slide 5: Corporate Highlights
Corporate Highlights • AZM founded in 1986 - 81.7 M shares outstanding (87.3 M fd) • Capital structure never consolidated - Float: ~ 24.5 M shares Ownership: - 4% insiders - 27% Québec-based institutions - 39% large funds, corporate & individual investors • One of the lowest share dilution rates in
Slide 6: Elmer (Au)
Éléonore Gold Mine (Newmont) Elmer (Au) Excellent infrastructure - Paved roads - Power lines - Airports First Nations support 6
Slide 7: 100% AZM 35-km-long project
100% AZM 35-km-long project 8-km-long x 3-km-wide 7
Slide 8: Elmer Gold Discovery
Elmer Gold Discovery Best intersections over a 500 m strike and 450 m down dip: True Thickness ➢ 24.04 g/t Au over 18.0 m 17.1 m ➢ 3.15 g/t Au over 102.5 m 62.6 m ➢ 2.84 g/t Au over 108.2 m 63.7 m ➢ 3.01 g/t Au over 90.2 m 82.7 m ➢ 6.43 g/t Au over 40.6 m 38.2 m 8
Slide 9: Elmer Gold Discovery Milestones
Elmer Gold Discovery Milestones • 2018 Property acquisition through map staking and first field visit • 2019 Prospecting, stripping 996 m / 7 holes • 2020 10,515 m / 55 holes • 2021 15,135 m / 62 holes 20,000 m (planned) 9
Slide 10: Shear vein with native gold at 34.6 m: 254.0 g/t Au / 0.50 m
Extensional quartz vein with native gold and Shear vein with native gold at 34.6 m: tourmaline selvages at 16.2 m: 28.7 g/t Au / 0.50 m 254.0 g/t Au / 0.50 m (Hole #003) (Hole #004) Pyrite stringers with native gold in a felsic intrusion Massive to semi-massive pyrite lenses in felsic 10 at 70.7 m:
Slide 11: Hole ELM21-086
Hole ELM2 1-086 Elmer Property, Patwon Discovery, James Bay Region, Québec 2.9 git Au / 1.0m] ee 255m 45.2.g/t Au/0.7m 25.8 g/t Au / 0.44 git’Au / 4.0m 0.95 g/t Au/ 1.0m 0.14 g/t Au/ 1.0m "3.50 git Aus1.0m §3:2 g/t Au / 1.3m Photo 1: Hole ELM21-086 Interval grading 38.7 g/t Au over 9.0 m (from 256 m
Slide 12: Elmer Gold Discovery
Elmer Gold Discovery > Drillhole Collar l Drillhole Trace Mineralized Zones Interpreted Lithology Polygenic Conglomerate Felsic-Intermediate Intrusive Gabbro Felsic Volcanic Mafic unit Strike length: 520 m Vertical extent: 450 m Average true width: 35 m (up to 80 m) 12
Slide 13: Elmer
Elmer ➢ Simple, continuous, predictable geometry ➢ Minimum 450 m extension down dip ➢ 35 m average true width ➢ Possible grade increase with depth TILL SAMPLING RESULTS 13
Slide 14: Elmer cross section
NE SW 5.0 5.0 520 m 1.0 1.0 0.5 0.5 0.3 0.3 450 m OPEN OPEN 300 m 14
Slide 15: Felsic-intermediate intrusive body
NE Felsic-intermediate intrusive body SW 5.0 1.0 0.5 0.3 OPEN OPEN 300 m 15
Slide 16: Mineralized envelope (0.3 g/t Au cut-off)
NE Mineralized envelope (0.3 g/t Au cut-off) SW 5.0 1.0 0.5 0.3 OPEN 300 m 16
Slide 17: Elmer: An Orebody in the Making
Elmer: An Orebody in the Making 520 m 450 m January 2020 Total: 996 m November 2020 Total: 11,500 m 100 m July 2021 Total: 22,800 m Looking NNW 1
Slide 18: Expanding the Elmer Orebody: Next Steps
Expanding the Elmer Orebody: Next Steps 2021 – 2022 Drilling Program (4th phase since Nov. 2019) Minimum 20,000 m 1) Expand the Patwon Zone: 14,000 m 2) Discover comparable zones nearby: 6,000 m Objectives ➢ Advance toward the delineation of an initial 2 Moz+ gold resource ➢ Production of a 43-101 R
Slide 19: Expanding the Elmer Orebody: Next Steps
Expanding the Elmer Orebody: Next Steps Program currently in permitting. A minimum of 14,000 m is planned to be drilled according to this conceptual grid Starting date: Fall 2021 Complete a 50 m x 50 m drill pattern to a depth of 500 metres Extend mineralization down to 800 metres Pursue metallurgic
Slide 20: Possible Analogs
Possible Analogs Goldex (Agnico Eagle), Quebec Rory’s Knoll, Guyana 50 x 50 m drill spacing 100 x 50 m drill spacing - 800 m 200 m 190 m x 2.6 km 6.27 Moz 450 m x 1.8 km 4.3 Moz 4
Slide 21: Patwon Zone, Elmer Property
Patwon Zone, Elmer Property A Strong Gold Discovery with Clear Growth Potential ➢ Wide, consistent, predictable mineralized body ➢ Robust vertical central ore shoot with grade x thickness ranging from 50 to 410 ➢ No internal folding, no crosscutting barren dykes ➢ Excellent gold recoveries based on
Slide 22: Elmer Gold Discovery: Upside Potential
Elmer Gold Discovery Upside Potential: 10 new target areas ➢ Within the 8-km-long by 3-km-wide priority corridor ➢ Targets with a minimum 12-km cumulative strike length combining: • High-grade undrilled gold prospects • Extensive Induced Polarization (“IP”) anomalies • High gold counts & pristine go
Slide 23: Leading Exploration Portfolio in Quebec
LEADING EXPLORATION PORTFOLIO IN QUEBEC Rex (Cu-Au) Rex South (Cu-Au) Elmer (Au) 500 km Montréal 29 properties 11,788 claims 5,664 km2 7
Slide 24: Rex Trend – Giant Copper Footprint
Rex Trend – Giant Copper Footprint Rex & Rex South Properties to unlock potential of a world -class target REX TREND ➢ 330 km long by 30 to 50 km wide lake-bottom sediment 330 km anomaly ➢ Underexplored, neglected giant target ➢ >30 mineralized zones (Cu-Au) ➢ $40 M option agreement with SOQUEM Opti
Slide 25: Large-scale copper-bearing systems (IOCG-type) along the Rex Trend
RBL Zone (3 km long): Up to 11.6% Cu Jemima Zone (1.5 km long): Up to 2.86% Cu Large-scale copper-bearing systems (IOCG-type) along the Rex Trend 1 CM Zone (2.5 km long): Up to 4.34% Cu Sombrero Zone: Up to 2.03% Cu
Slide 26: 2021-2022 Outlook
2021-2022 Outlook $16 M planned exploration budget ➢ ELMER (Au) $10.0 M Drilling >20,000 m ➢ Munischiwan (Cu-Au) $0.6 M * Drilling 1,200 m ➢ Wapatik (Au, Cu) $0.8 M ** Prospecting Ground geophysics ➢ Rex & Rex South $4.0 M ** Drilling, geophysics (Au, Cu-Au) Prospecting *: 50% partner-funded **: 100
Slide 27: Azimut Strong Organic Growth
Azimut Strong Organic Growth ➢ Elmer: A growing gold discovery ➢ Excellent financial position ➢ Strategic partnerships with SOQUEM ➢ Rex Trend: The next copper district in Québec? 3
Slide 28: Elmer Gold Discovery
Elmer Gold Discovery Thank you! Merci! ᓇᑯᕐᒦᒃ ᑭᓇᓈᐢᑯᒥᑎᐣ GET IN TOUCH Jean-Marc Lulin President and CEO 1 (450) 646-3015 info@azimut-exploration.com www.azimut-exploration.com 4
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