Azimut Exploration, Inc. · TSXV:AZM
Azimut Exploration — Investor Presentation (August 2023)
32 slides from Azimut Exploration's investor presentation, August 2023
Slide 1: AZM
AZM TSXV: AZM OTCQX: AZMTF AZMTF
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: What Sets Azimut Apart?
© Aen Main ildi Quality Elmer Building Exploration Discovery Blocks Portfolio ‘s Flagship Gold Project AZtechMine™ Le st i es, . WHAT SETS AZIMUT on Quebec for 100% owned Predictive modelling Au, Cu, Ni, Li APART? os A LEADING MULTICOMMODITY EXPLORER AZIMUT EXPLORATION | TSXV: AZM | OTCQX: AZMTF /\
Slide 4: Strategic Exploration Portfolio
Strategic Exploration Portfolio LARGE POSITIONING INA STABLE JURISDICTION Flagship Project: Elmer Gold Discovery Critical Metals Portfolios: JB Nickel / JB Lithium Multiple Partnerships: SOQUEM / Rio Tinto / KGHM / Mont Royal 4 Multicommodity exposure 4 Quebec is a premier mining jurisdiction Fraser
Slide 5: Corporate Highlights
Corporate Highlights THE RIGHT INGREDIENTS FOR SUCCESS Capital Structure Working Capital CS$4.1M Shares 799M Outstanding F/D: 85.6M CS$1.20 Share Price 52-week H/L: CS1.80 / CS0.49 Market Cap ~CS95M Working Capital asat May 31,2023 Shores Outstanding as at July 24, 2023 4 Track record of low dilutio
Slide 6: Board and Management
Board and Management EXPERIENCED TEAM WITH A TRACK RECORD ~ ¢ @®) Jean-Marc Lulin, PGeo, PhD, President and CEO, Director _ ; Rock Lefrangois, P.Geo, VP Exploration £ Se ey eee See ee oa re uee a 4 35 years of international experience in the search, evaluation and development of | i its thi hi he Am
Slide 7: A Key Exploration Player in Quebec
A Key Exploration Player in Quebec 20-YEAR HISTORY OF PARTNERSHIPS AND EXPLORATION SUCCESSES 2003 2005 2007 2011 2015 2017 2019 2021 - ~ 2010 - - - 2023 2004 2006 2008 2012 2016 2018 2020 New “Prospector Targeting the “Discovery of the leadership — New partnerships of the Year’ Elmer gold Year” awar
Slide 8: Elmer Gold Discovery
~~ ~*~ —_ Elmer Gold Discovery Aaa ~
Slide 9: Elmer Gold Project location
w Chisasioi Elmer Gold . Project Radisson POSITIONED TO BE A MAJOR GOLD ASSET IN QUEBEC sa _— Wemindji 8 4 Drilling discovery in 2020 Aggressively advanced ever since 4 Located 100 km west of the Oe ee Eleonore Gold Mine (Newmont), James Bay Region 4 Close proximity to excellent A. infrastructure ;
Slide 10: Elmer property map with drill results
306,000 z> Wolf Prospect 19.25 gRAu/ 1.0m (C) 340,000 \A-21 Zone 05 gitAu, 45.0 gitAg (30m (D) 0.36 q1 Au !31.0m (0) 21 gitAu, 50% Zn/1 m(D) 2 Bata trem) 0. grav! 11 miD) fy giauionm®) | & ee 102.52gH Au, 199 91g (6) 3 atAu(e) Pa (145 gt Au, 102 gt Ag, 043% Cut m [ABOYATI) _ 4.65 g/t Au, 160 gt Ag,
Slide 11: Elmer: 2023 Objectives
Elmer: 2023 Objectives Patwon Gold Zone: Delineation of a maiden NI 43-101 compliant gold resource Camp-scale Exploration: Defining and drill testing additional mineralized zones > Crystallizing the value > Outlining the full potential of the Patwon Gold Zone of the Elmer Gold Project " A LEADING MU
Slide 12: An Orebody in the Making
An Orebody in the Making FOLLOWING PREDICTABLE AND STRONG GOLD MINERALIZATION 4 Significant progress since initial discovery in 2020 4 ~54,000 m drilled in 137 holes 4 Known mineralization consistently expanding with drilling 4 Mineralization remains open laterally and to depth 4 Zone defined 600 m
Slide 13: An Orebody in the Making: Longitudinal View
An Orebody in the Making Longitudinal View Looking Northwest 12.85 git Au(G) 1.68 git Au () 2.05 git Au (6) 126 git Au(S) 8.21 git Au (G) 6.12 gft Au (G) 1.775 git Au() 6.77 git Au (6) ELM20-043 4.90 git Au/ 4.70 m ELM21-088 122.gh Au /0.50 m ELM20-022 3.38 oft Au /2.40m ELM22-202 4.29 of Au/0.95 m
Slide 14: Elmer - Priority Corridor
Elmer - Priority Corridor Identified Prospects 323,000 Camp-Scale = Exploration Upside REPRODUCING THE PATWON’S SUCCESS (013% cus7.9m, (023% Zn 80m (0) 4 Greenstone orogenic deposits 0.62 git Au / 1.5 m(211)| rarely occur in isolation oa0gt auitz0m nel 258 gt Bu 1.0m 212) 4 12 priority sectors ident
Slide 15: Patwon Gold Zone
Patwon Gold Zone Geometric Continuity Outstanding geometric continuity from surface and down to 860 m Open Pit and Underground Potential for combined open pit and bulk underground mining Wide Mineralized Envelope Wide mineralized envelope (>2 g/t Au) including consistent high-grade zones (>5 g/t Au)
Slide 16: Lithium Portfolio
a Gat Lithium Portfolio JN AZIMUT EXPLORATION AZtechMine™ PREDICTIVE MODELLING THAT WORKS o
Slide 17: Quebec, a Leader in the Green Energy Transition
Quebec, a Leader in the Green Energy Transition James Bay Lithium Mineral Province 4 Outstanding geologic context for LCT pegmatites 4 Initial exploration stage 4 Excellent infrastructure 4 Low energy costs 4 Support of the First Nations Energy Transition Valley 4 Stable North American geopolitical
Slide 18: James Bay Region: World-Class Emerging Lithium Province
a A e \ 4 ~- James Bay Region: a, tts _ ° Kukamos World-Class Emerging ~*~ ens Baca a Lithium Province zs fee * Rae AZIMUT HAS THE LARGEST LAND wen HOLDINGS IN THE REGION d @ °s Bay 4 5 major projects identified as highly e CE ee rodytlecta Mining prospective for lithium =! "AZM-Mont Rayal option }
Slide 19: Corvette and Kaanaayaa properties (Rio Tinto option)
(Azimut-Rio Tinto Option) (Azimut-Rio Tinto Option) Figure as of July 10, 2023
Slide 20: Attracting a Major Player in the District
525,000 600,000 Co rvette 1.45% Li20, 177 ppm Ta208 / 84.0 m| Discovery Area oer / | 2.43% Li2o, 163 ppm Ta206 / 86.2 m 2.12% L120 1156.9 m 1.61% Li20, 199 ppm Ta205 / 113.4m 165 % LI2O, 193 ppm Taz08 / 169.7 m 2.22% Li20, 147 ppm Ta205 170.1 m ‘Average 0.89% LIZO (4 samples) 3 5,980,000 ATTRACTING
Slide 21: Positioned in Close Proximity to a Major Discovery
525,000 600,000 Co rvette 1.45% Li20, 177 ppm Ta208 / 84.0 m| Discovery Area oer / | 2.43% Li2o, 163 ppm Ta206 / 86.2 m 2.12% L120 1156.9 m 1.61% Li20, 199 ppm Ta205 / 113.4m 165 % LI2O, 193 ppm Taz08 / 169.7 m 2.22% Li20, 147 ppm Ta205 170.1 m ‘Average 0.89% LIZO (4 samples) 5,980,000 3 POSITIONED
Slide 22: Positioned Adjacent to a Significant Lithium Discovery
645,000 635/00 Ad i na D iscovery Area : Galinée Property Area, James Bay Region, Québec POSITIONED ADJACENT TO A : 7. | Se SIGNIFICANT LITHIUM DISCOVERY CO Giinsome Resouces) 6.916.000 4 Galinée is a large property package: 33 km strike length 4 50/50 JV with SOQUEM 4 Immediately south of Adina pro
Slide 23: Galinée maiden drill program planned
Adina Property (Winsome) Galinée Property (Azimut - SOQUEM JV) Property boundary Galinée Project Main Zone | he " z Discovery potential | >< ‘\_| for subparattet .». zone s. ‘ 8, aN Footwall Zone .. SN S, aN ‘. S %. s, ay N aN OPEN . nN Ne N N Ss ‘ % ’. NS, i Sy S. I /~ conceptual Planned Drilling I
Slide 24: Other Exploration Activities
Other Exploration Activities AZIMUT EXPLORATION
Slide 25: A Unique Nickel Portfolio
f Ly~ *ee a A Unique Nickel Tukonss — iat Soauem vO Fr [AEM SOCUEM BY B22 ouen e —— ee ° oo, @ sae Portfolio [Corvet pzv-riorinte é ° o ices at Bee STRATEGIC AND PROSPECTIVE ~ Booed] gi? @ ° eee aueM sv Mino PORTFOLIO @ @|Newmont e Renard Diamond Mine Le . . James - @ . e 4 Km-scale mafic to ultrama
Slide 26: Exploration Partnerships
Exploration Partnerships LEVERAGING TWO ACTIVE PARTNERSHIPS Wapatik Nickel Project 4 A Ni-Cu discovery — 2.68% Ni, 1.30% Cu, 0.09% Co over 3.30 m 4 Option to Mont Royal Resources 4 S4M in expenditures for initial 50% 4 $3M in expenditures + PEA for 70% Kukamas Copper/Gold Project 4 One of the strong
Slide 27: Wapatik Project
Wapatik Project UNCOVERING A NEW NICKEL COPPER TARGET 4 High resolution mag survey identified a previously unrecognized kilometer-scale ultramafic intrusion 4 Initial prospecting confirmed presence of copper and nickel mineralization 4 High grade Nickel-Copper massive sulphide discovered in maiden p
Slide 28: A Successful Maiden Drill Program
W1 Ultramafic Intrusion - Wapatik Property James Bay Region, Québec p Caney A Successful Maiden Drill Program ENCOURAGING RESULTS TO DATE 4 Drilling has identified significant Ni-Cu mineralization related to an ultramafic intrusion 900 m long x 400 m wide 4 Interpreted as a folded synvolcanic sill 1
Slide 29: Rex Trend copper sample map
415,000 450,000 5,960,000 1.8% Cu / 0.3 m (C) 5,955,000 0.5 g/t Au, 0.83% Cu, 0.3 g/t Ag (G) 1.03 % Cu (G) 0.82% Cu, 1.2 g/t Ag (G) 3.3% Cu, 17.7 g/t Ag (G) ! ! 0.66 % Cu, 7.4 g/t Ag (G) !!! ! !! ! ! 10.63 g/t Au, 4.9 g/t Ag (G) ! ! ! ! ! ! 1.96% Cu, 0.4 g/t Au, 30 g/t Ag / 1 m (C) ! ! ! ! !! ! ! !
Slide 30: Rex Trend: Giant Copper Footprint
Rex Trend: Giant | — a Copper Footprint 30 a UNLOCKING THE POTENTIAL OF A WORLD-CLASS TARGET 4 330 km x 30 - SO km lake-bottom sediment anomaly 4 > 30 mineralized zones (Cu-Au) 4 Underexplored giant target for critical and strategic minerals: Cu, W, Sn, Bi, Be, Te, Re, In, REE 4 Potential for: 4 10C
Slide 31: Summary
Summary MINIMUM $8 M EXPLORATION BUDGET FOR 2023-2024 Maiden resource estimate First lithium focused prospecting and drilling programs Strong potential for additional Lithium focused prospecting discoveries Follow up drilling District scale Property-wide potential program Major positioning for criti
Slide 32: TSXV: AZM OTCQX: AZMTF azimut-exploration.com
ᓇᑯᕐᒦᒃ ᑭᓇᓈᐢᑯᒥᑎᐣ TSXV: AZM OTCQX: AZMTF azimut-exploration.com
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