Azimut Exploration, Inc. · TSXV:AZM
Azimut Exploration — Investor Presentation (January 2025)
37 slides from Azimut Exploration's investor presentation, January 2025
Slide 1: A Leading Multicommodity Explorer
AZ | M U T TSXV: EXPLORATION OTCQX: A Leading Multicommodity Explorer A Platform for New Discoveries January 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 foo
Slide 6: Multicommodity Exploration: Canada's Critical Minerals
Aluminum Molybdenum Antimony —] | Nickel e ° Bismuth Niobium Multicommodity Cesium —— Phosphorus Exp lo ration Chromium ;-—— Platinum group metals Calva Potash FOCUSED ON 4 KEY Copper —_}—_, \ / , Rare earth elements CRITICAL MINERAL Fluorspar / a Scandium GROUPS Gallium Silicon metal Germanium —~ _
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 CS$11.8M Shares 85.7M Outstanding F/D: 92.5M ; C$0.62 Share Price 52-week H/L: C$1.03 / C$0.425 Market Cap ~CS55M A LEADING MULTICOMMODITY EXPLORER Share Ownership 22% 31% Quebec-based Institutional
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 20n 2015 2017 2019 2021 2023 - - - 2010 ~ ~ ~ - - 2004 2006 2008 2012 2016 2018 2020 2022 2024 New “Prospector Targeting the “Discovery of leadership — New partnerships of the Year’ Elmer gold
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 Gold-Copper 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: Wabamisk Antimony-Gold Prospects
oe: Peteeed BB | 0.6% cu, 0.5% zn, 0.4% Zn, 0.16% Ph 2.42% $b (6) 194% Sb (6) 1.88% Sb (6) 8.54 git Au(G) 7.53 git Au (G) 4.23 gitAu(G) 2.44 gft Au (G) 1,44% Sb, 5.76 gitAu (G) g 35 gRAu (6) [| 19.65% 8b (6) 4.60% So, 7.27 gt AU (G) 2 18.15% Sb (6) 4.64% Sb'(G) S 1.30 gus 750m (0) 17.85% Sb, 248 gf
Slide 18: Wabamisk Antimony Induced Polarization Survey
2.16% Sb (G) 1.11% Sb (G) 1% Sb (G) 1% Sb(G) 1% $b(G) 1.07% $b(@) |, 3.43 git Au (G) 1.16 git Au (G) 0.68% Sb/9 m(D) 2.24 git Au/ 1.0 m(D) 24.8% Sb, 1.95 gft Au (G) 0.40% Sb, 0.14 git Au / 3.0 m (C) (open) 19.65% Sb (G) 6.83% Sb (6) 18.15% Sb (G) 2.7% Sb (G) 4.69% Sb, 7.27 gitAu(G)| | 17.65% Sb, 248
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
418,000 450,000 +4 8 Ki k m Pr i PERSEUS ZONE uka as Oj ect . 108% 0u10) inet be Oth Gu 2 gt POE 6.0m (0) Pee: ‘ion ho Gu 408 gt PE 2.0m {10% cu/0.3m (0) x s77=n49(c)) \ Inot 1.42% Ni 0.19% Cu, 136 gf PGE 6.0m () NEW NICKEL PROSPECTS IDENTIFIED / oo rs ‘ecu 24 gh POET) [pr isscimosscue $38 \\ : 0.66
Slide 22: Kukamas Project: Perseus Zone
PERSEUS ZONE 32% Cu, 2.25 git PGE/ 8.0m 5. 0.41% Cu, 2.82 git PGE / 6.0 m (C) e : 2 git PGE/ 9.0m E i, 0.19% Cu, 1.36 git PGE / 6.0 m (C) Kukamas Project ere acuteee, .81% Cu, 11.36 git PGE (G) .35% Cu, 6.64 git PGE (G) 6.85% .99% Cu, 6.58 g/t PGE (G) 2 git PGE (G) .04 git PGE (G) %h Cu, 3.98 git PG
Slide 23: Kukamas Project: Perseus Zone Channels
Ku ka mas Channel #1: Pr ro) j e ct 2.98% Ni, 0.32% Cu, 2.25 g/t PGE over 8.0 m, including 3.74% Ni, 0.41% Cu and 2.82 g/t PGE over 6.0m Channel #2: PERSEUS ZONE 110% Ni, 0.15% Cu, 1.02 g/t PGE over 9.0 m, including 1.42% Ni, 0.19% Cu, and 1.36 g/t PGE over 6.0 m % 5.56% Ni, 0.57% Cu, 3.31 git PGE/
Slide 24: 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 AND PROSPECTIVE [calinge JAZM-SOQUEM JV Mine PORTFOLIO Ni BBA[Newmont a Renard Dimond Mele . 7 James ~~ e
Slide 25: Lithium Portfolio
Lithium Portfolio \ PN AZIMUT EXPLORATION ‘ 7 Galinée - Drill Core
Slide 26: 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 27: Galinée Property (AZM-SOQUEM JV)
Galinée Property (AZM-SOQUEM JV) Figure as of May 8, 2024
Slide 28: Galinée Project: Sizeable Mineralized System Identified
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 29: Galinée Project: Phases 1 & 2 Drilling (Section 668,435 E)
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 30: Galinée Project: Phases 1 & 2 Drilling (Section 668,535 E)
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 31: Wabamisk: 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 32: Figure as of December 9, 2024
See close-up Figures See close-up Figures Figure as of December 9, 2024
Slide 33: Pikwa Project
Shaakichiuwaanaan Pikwa Project (Patriot Battery Metals) ON STRIKE WITH THE LARGEST PIKWA Property | ng 80.1 Mt ot 144% Li PEGMATITE RESOURCE IN THE FEM SOCUEM NN | Int 62.5 Mt at 1.51% LEO AMERICAS JBN-57 sold to Patriot Cancet Property daw 2% NSA (Winsome Resources) ‘5.940,000 5,940,000 4 50/50 JV
Slide 34: Corvet and Kaanaayaa: Rio Tinto Option
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 35: Figure as of December 11, 2024
Figure as of December 11, 2024
Slide 36: 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) Accelerat
Slide 37: TSXV: AZM OTCQX: AZMTF azimut-exploration.com
ᓇᑯᕐᒦᒃ ᑭᓇᓈᐢᑯᒥᑎᐣ TSXV: AZM OTCQX: AZMTF azimut-exploration.com
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