Azimut Exploration, Inc. · TSXV:AZM
Azimut Exploration — Investor Presentation (February 2025)
35 slides from Azimut Exploration's investor presentation, February 2025
Slide 1: A Leading Multicommodity Explorer
AZ | M U T TSXV: EXPLORATION OTCQX: A Leading Multicommodity Explorer A Passion for Discoveries February 2025
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: Highlights
Azimut: Highlights LARGEST MINERAL EXPLORATION PORTFOLIO IN QUEBEC 4 Projects with Significant Discoveries 4 Elmer Au 4 Wabamisk Sb-Au / Li 4 Kukamas Ni-Cu-PGE 4 Galinée Li Strong Partnerships 4 4Option Agreements & 6 JVs Impactful 2024 Exploration Programs 4 $10M including $6M funded by partners 4
Slide 4: Azimut: A Strategic Positioning in Quebec
e . ° 28 Azimut: A Strategic i, oom ege ° ° 7) B 16,201 Positioning in Quebec pe 4 deine st 8,170 km2 REGIONALLY FOCUSED, DIVERSIFIED Kukamas ACROSS COMMODITIES AND STRATEGIES (Nickel / Copper / PGEs) @ Gold 4 e @ Copper sas Elmer (Gold) [~ JB Lithium . Au ,’ Commodities Ind.- 31,200 ozat193g/tAu |,
Slide 5: Mineral Potential Predictive Modelling
Mineral Potential Predictive Modelling AZtechMine™: inentiryinc 500,000 samples UNRECOGNIZED PROSPECTIVE ZONES over 1.5 million km2 4 Data-driven methodology using measured data, with no interpreted data and no parameter weighting: Regional geochemistry, geophysics 4 Defining of the statistical foot
Slide 6: Canada's Critical Minerals List and Azimut's focus groups
Aluminum ) f Molybdenum \ Antimony —] \ i | Nickel ° ° | | coma Sane ~omm Multicommodity Cesium —— , A \ | | ; oy Phosphorus Exploration Chromium | | | / ;-—— Platinum group metals OO Cobatt / / potash FOCUSED ON 4 KEY Copper —_}—_, / / / , Rare earth elements CRITICAL MINERAL [f/f / ; GROUPS Fluors
Slide 7: Azimut: A Technically Driven Business Strategy
Azimut: A Technically Driven Business Strategy > CREATING SHAREHOLDER VALUE THROUGH MINERAL DISCOVERIES > BE A RESPONSIBLE ACTOR IN ECONOMIC DEVELOPMENT Two Key Factors: I. Financial Metal price volatility » Polymetallic Share structure » Rigorous control of share dilution: 2.25 millions/year (over
Slide 8: Azimut: A Technically Driven Business Strategy
Azimut: A Technically Driven Business Strategy Elmer @) Deposit aA Flagship Gold Project - 100% owned Sole Funded % Activities . Se Wabamisk Galinée os -> . . AZtechMine™ euatity ©) Discovery Predictive Maps Pontfolic n ‘“\ Pal Flagship Lithium Project Generation “a Partnership ¢ 50% owned > 500 pro
Slide 9: Corporate Highlights
Corporate Highlights WELL FUNDED WHILE MINIMIZING SHARE DILUTION THROUGH TIME Capital Structure Cash CS9.4M Shares 85.7M Outstanding F/D: 92.5M ; CS0.64 Share Price 52-week H/L: CS0.88/ C$0.425 Market Cap ~CS55M Goth as.ot November $0, 2024 A LEADING MULTICOMMODITY EXPLORER Share Ownership 22% 31% Q
Slide 10: Management
Management Directors Board and Management EXPERIENCED TEAM WITH A TRACK RECORD Jean-Marc Lulin, PGeo, PhD, President and CEO, Director Senior mining executive, geologist with > 40 years of experience in North America, Africa and Europe. Designed AZtechMine™ the mineral targeting methodology that con
Slide 11: A Key Exploration Player in Quebec
A Key Exploration Player in Quebec 20-YEAR HISTORY OF PARTNERSHIPS AND EXPLORATION SUCCESSES 2003 2005 2007 2010 2011 2015 2017 2019 2021 _ 2004 2006 2008 2012 2016 2018 2020 2022 2024 New “ Targeting the “Discovery of leadership - New partnerships Wiaertaed Elmer gold the Your" Partnerships Strateg
Slide 12: Gold Portfolio
Gold Portfolio AZIMUT EXPLORATION
Slide 13: Elmer & Wabamisk Project
Elmer & Wabamisk Project SOLE FUNDED PROJECTS IN THE JAMES BAY REGION 4 Located proximal to Eleonore Gold Mine (Newmont); James Bay Region 4 Close proximity to excellent infrastructure 4 Paved highways 4 Powerlines 4 Airports 4 Sustainable relationships with the Cree First Nations ae A LEADING MULTI
Slide 14: Equinox
EQUINOX 5.29% Cu, 1.02 g/t Au, 51.7 g/t Ag (G)
Slide 15: Figure as of November 21, 2023
Figure as of November 21, 2023
Slide 16: Elmer copper-gold results
5.29% Cu, 1.025 g/t Au (G) 1.41% Cu, 0.718 g/t Au (G) 1.165% Cu, 0.535 g/t Au (G) 0.83% Cu, 0.336 g/t Au (G) 1.28% Cu, 0.22 g/t Au (G) 0.551% Cu, 0.94 g/t Au (G) 0.312% Cu, 0.468 g/t Au (G)
Slide 17: Fortin
FORTIN 3.92% Sb, 0.3 git Au/ 14.0 m beters incl. 11.84% Sb, 1.18 git Au 3.0m (C) astgtay (6) 1.08% Sb, 0.53 git Au / 22.7 m (0) 4.01% Sb, 0.15 git Au 17.85 m (D) 423 gu (6)| | 24.8% Sb, 1.35 git Au (G) | 1ae8% Sb) 130 9tAu/7.50m(0)| | Araeeh oe eas | BRENDA Tree 1228 gtAU 43.35 gt Au (@) n\ 1209 ata
Slide 18: Fortin Zone antimony-gold results
24.8% Sb, 1.36 gt Au (G) 1.01% ial 19.65% Sb(G) 0.51% Sb / 17.55 m (D) |. 18.15% Sb (G) \ | 1.08% Sb, 0.53 git Au / 22.70 m (D) Seer oe Som ils en) 795% Sb 248 9AN(G)) 362% Sb, 03 gt Au /140mink \ 6645086) 07 gtAu,0.39% Sb/ 18m , sada 11.84% Sb, 1.18 g/t Au / 3.0 m (C) (open)| | 3% m » saaeie oo 9 (
Slide 19: Antimony: ~US$40,000/t
Global Mine Production Uses in United States 2022 Nonmetal Products 2023 Other Ceramics & Glass 22% China 22% Metal Products 48% 43% Russia 5% 83,000 t/y 22,000 t/y Tajikistan Flame Retardant 25% 35% USGS data Europe Price (99.65% Min) for Dec. 2024: → ~US$40,000/t → 250% increase in 2024
Slide 20: Nickel-Copper Portfolio
Nickel-Copper Portfolio AZIMUT EXPLORATION
Slide 21: Kukamas Project
18/000 450,000 5,960,000 Kukamas Project 19% ev.) gus A MAGMATIC NICKEL DISCOVERY osoncut aks 0.90% Cu (G)| 10.63 git Au (S) | pepe Sie at gece sn) . . 05 914i, 089% cu i 4 Optioned to KGHM in late 2022 and operated °°" 2""""° : 3 iene 1.96% Cu, 04gr Au, 20gtag/t mic) by Azimut 4 2023: VTEM™Plus sur
Slide 22: Perseus Zone
PERSEUS ZONE HIGH-GRADE KAMBALDA-TYPE NICKEL 4 First-path assessment with 2,000m maiden drill program. Work plan for 2025 under review 4 Best Results: 4 8.42% Ni, 0.55% Cu, 7.25 g/t PGE over 19 m 4 6.06% Ni, 0.38% Cu, 3.34 g/t PGE over 2.6m 4 3.55% Ni, 019% Cu, 2.19 g/t PGE over 2.5 m 4 0.81% Ni, 0.
Slide 23: Kukamas: A Unique Nickel Portfolio
KUKAMAS Pikwo AZM-SOQUEM JV Dalmas AZM-SOQUEM JV A Unique Nickel ss ee Raanaayan es “[Corvet |AZM-Rio Tinto fizw-rio Tin] Agi Al givin & ‘ [Option wae : -s ; 2 [Eleonore Gold Portfolio STRATEGIC, LARGE-SCALE [calinge JAZM-SOQUEM JV Mine PORTFOLIO Ni BBA[Newmont a Renard Dimond Mele . 7 James ~~ e 4
Slide 24: Lithium Portfolio
Lithium Portfolio \ PN AZIMUT EXPLORATION ‘ 7 Galinée - Drill Core
Slide 25: James Bay Region: World-Class Emerging Lithium Province
[A Ls / Shaakichiuwaanaan| ~*~ ,~¢ James Bay Region: . PIKWA i Ny AZM-SOQUEM JV Dalmas World-Class Emerging ) pa awe ee HR A2v-soquem iv e e e 7 Lithium Province Resouces | iat oe = - 2 7 By KAANAAYAA p a AZM-Rio Tinto option fim A sag CORVET AZM-Rio Tinto option AZIMUT HOLDS A SIGNIFICANT ni POSITI
Slide 26: Galinée Property
Galinée Property (AZM-SOQUEM JV) Figure as of May 8, 2024
Slide 27: Galinée Project
24 » Galinée-Adina close-up, James Bay Region, Québec . Galinée Project % ‘ oy \ a . wT _ SIZEABLE MINERALIZED SYSTEM 3 “/ N = «63—-«s IDENTIFIED o ‘ JORC e . Resource , “tT , ‘ Pishel, 4 Galinée discovery likely to represent the y a southern extension of the Adina deposit ina Property (winsome) 4 8
Slide 28: Galinée Project: Phases 1 & 2 Drilling
Section 668,435 E Adina Property (Winsome) Galinée Property (Azimut - SOQUEM JV) Property boundary Man cone zeol GAL23-014, — GAL23.012, 22.000 ENS seus moons Bim GAL24-025 GAL23-013 a 4 A ; 500 RL . ¢ J 4.63% Li2O / 17.5 m 2 / incl. 2.56% Lij0/ 5.2m Footwall f/f ane Zone < 4 L a &K 4 Z 4 200 RL x 4
Slide 29: Galinée Project: Phases 1 & 2 Drilling
Section 668,535 E Adina Property (Winsome) Galinée Property (Azimut - SOQUEM JV) Property boundary 1 GAL23-001, Main Zone 1 GAL23-011, GAL23-009, B08 seco 24201 20.08 zeoos_ 2108 GAL24.018 GAL23.010 GAL24-019A GAL23-015 < > y 00 RL K KS » a4 "° < \Ake S 7 ‘ ye . 400 RL Footwall x & Zone se B ‘ “ K <
Slide 30: Lithos: Extensive Lithium Targets
485,000 485,000 ° 3.28% Li014.06m(6) 742% LiL0 (6) Wa ba Ss k Baetiol tame” 7amLiole) m 124% LL0/3m(C) G4%LLO(C) I 3 1.79% Li0/2.94m(C) 6.16% Li,0 (G) 3 < 1.75% Li0/9.83m(C) 5.21% LisO (G) 3 = rer mrtg a 3 5 3.98% LizO (G) 3.85% Li (6) | \ 3.18% Li (6)) \, E in i 4 in 5.57% Li,O (G) OammLEO 208m (0)
Slide 31: Figure as of December 9, 2024
See close-up Figures See close-up Figures Figure as of December 9, 2024
Slide 32: Rio Tinto option: Corvet and Kaanaayaa
526,000 00,000 CVS 4.45% LI20, 177 ppm Ta205 /84.0 m Discovery Area eae N ATTRACTING A MAJOR PLAYER IN —— zinuronne THE DISTRICT ay (Wingorne) a ani {2.19% Li20, 18 ppm Te208 /86.2 m /7-\as2% .i20 1669 fj ut, pm Ta08 4m /,|1.66°% 20, 193 ppen Ta208 158.7 m 222% Li20, 47 ppm Ta208 /70.1m 5,950,000 P
Slide 33: Figure as of December 11, 2024
Figure as of December 11, 2024
Slide 34: Summary and 2025 Outlook
SUMMARY » Seasoned Exploration Company: A recognized leader in Quebec ~ Advanced data processing ~ Structured approach to exploration ~ Strategic depth » Four flagship projects: Elmer, Wabamisk, Kukamas, Galinée » Focused on turning technical success into financial success 2025 OUTLOOK 1) Accelerati
Slide 35: azimut-exploration.com
ᓇᑯᕐᒦᒃ ᑭᓇᓈᐢᑯᒥᑎᐣ TSXV: AZM OTCQX: AZMTF azimut-exploration.com
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