Azimut Exploration, Inc. · TSXV:AZM
Azimut Exploration — Shareholder Meeting (February 2023)
27 slides from Azimut Exploration's shareholder meeting presentation, Feb 23, 2023
Slide 1: A Leading Multicommodity Explorer - AGM
AZIMUT tsxv. EXPLORATION OTCQX: A Leading Multicommodity Explorer Gold, Copper, Nickel, Lithium AGM February 23", 2023
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?
© Main Tuan ildi Quality _Elmer Buildi ng Exploration Discovery 3 B locks roe Flagship Gold Project AZtechMine™ WHAT SETS AZIMUT ‘err Quebecor 100% owned Predictive modelling APART? Au, Cu, Ni, Li oe A LEADING MULTICOMMODITY EXPLORER AZIMUT EXPLORATION | TSXV: AZM | OTCQX: AZMTF /\ AZIMUT EXPLORATIO
Slide 4: Strategic Exploration Portfolio
Strategic Exploration Portfolio LARGEST POSITIONING INA STABLE JURISDICTION 4 Multicommodity exposure 4 Quebec is a premier mining jurisdiction Fraser Institute: #2 in Canada / #6 worldwide - Flagship Project: Elmer Gold Discovery - Critical Metals Portfolios: JB Nickel / JB Lithium - Multiple Partn
Slide 5: Project Pipeline and 2023 Plans
Elmer Kukamas Wapatik Pikwa Galinée Corvet Kaanaayaa JB Lithium JB Nickel Rex Rex South Wabamisk Chromaska Doran Mercator Munischiwan Desceliers Project Pipeline and 2023 Plans Maiden resource estimate Au . 100% AZM in progress Cu-Au, Ni-Cu Geophysics / prospecting KGHM Option Ni-Cu, Au Follow-up dr
Slide 6: Corporate Highlights
Corporate Highlights THE RIGHT INGREDIENTS FOR SUCCESS Capital Structure Working Capital CS$8.6M Shares 79.5M Outstanding F/D: 85.6M C$1.05 Share Price 52-week H/L: CS1.80 / CS0.49 Market Cap CS83M Working Capital as at November 30, 2022 / Shares Outstanding as at January 26, 2023 4 Track record of
Slide 7: Elmer Gold Discovery
~~ ~*~ —_ Elmer Gold Discovery A Feces ~
Slide 8: Elmer Gold Project
Elmer Gold Project POSITIONED TO BE A MAJOR GOLD ASSET IN QUEBEC 4 Drilling discovery in 2020 Aggressively advanced ever since 4 Located 100 km west of the Eleonore Gold Mine (Newmont), James Bay Region 4 Close proximity to excellent infrastructure 4 Paved highways 4 Powerlines 4 Airports 4 Support
Slide 9: Patwon Gold Zone
305,000 340,000 ? A A-21 Zone 0.5 g/t Au, 45.0 g/t Ag / 30 m (D) N Wolf Prospect 0.36 g/t Au / 31.0 m (D) 19.25 g/t Au / 1.0 m (C) 2.7 g/t Au, 5.0% Zn / 1 m (D) 12.3 g/t Au / 1.75 m (C) 0.8 g/t Au / 11 m (D) 3.7 g/t Au / 0.7 m (D) 5,815,000 58.2 g/t Au (G) 102.52 g/t Au, 19.9 g/t Ag (G) 18.55 g/t Au
Slide 10: 2023 Objectives
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 10 A LEADING MULTICOM
Slide 11: An Orebody in the Making (Surface)
Surface Longitudinal View: An Orebody Patwon Gold Zone Mineralized Envelope using a 0.5 g/t in the Making Au Grade Shell FOLLOWING PREDICTABLE AND STRONG GOLD MINERALIZATION 260m 4 Significant progress since initial discovery in 2020 600 m 4 ~53,000 m drilled in 128 holes 4 Known mineralization cons
Slide 12: An Orebody in the Making (Ground surface)
Ground surface ELM19-004 : 1.68 g/t Au/97.0 m — An Orebody mwa uepasseta in the Making maeuinennene ELM20-026 : 2.64 git AU/ 72.15 m ELM20.031 : 2.47 gt Au/ 36.1 m — FOLLOWING PREDICTABLE Al > els Ma AND STRONG GOLD ELI20.009: 114 git Au/ 103.1 m| MINERALIZATION unas. 304 tau 002m ELM20-051A: 3.85 g
Slide 13: Patwon Gold Zone
315,000 323,000 A-21 Zone 0.76% Zn, 0.24% Cu / 9.7m at 247 m 0.5 g/t Au, 45.0 g/t Ag / 30 m (D) 102.52 g/t Au, 19.9 g/t Ag (G) 6.3 g/t Au (G) 0.14 g/t Au, 12 g/t Ag, 0.24% Zn, 0.58% Cu / 1.5 m 0.36 g/t Au / 31.0 m (D) 18.25 g/t Au (G) at 217 m 17.15 g/t Au (G) 5,802,000 2.7 g/t Au, 5.0% Zn / 1 m (D)
Slide 14: North Zone Patwon: A New Zone Identified
North Zone Patwon Preliminary Envelope 47% Wy A New Zone Identified SUPPORTS STRONG POTENTIAL FOR ADDITIONAL DISCOVERY IN THE PATWON CORRIDOR 250m 4 Subparallel zone identified ~300 m north of main Patwon Zone 4 Minimum strike length of 460 m with several high- grade intervals, including: 4 824 g/t
Slide 15: Patwon Gold Zone
305,000 340,000 A-21 Zone N 0.5 g/t Au, 45.0 g/t Ag / 30 m (D) Wolf Prospect 0.36 g/t Au / 31.0 m (D) 19.25 g/t Au / 1.0 m (C) 2.7 g/t Au, 5.0% Zn / 1 m (D) 12.3 g/t Au / 1.75 m (C) 0.8 g/t Au / 11 m (D) 5,815,000 3.7 g/t Au / 0.7 m (D) 58.2 g/t Au (G) 102.52 g/t Au, 19.9 g/t Ag (G) 18.55 g/t Au (G)
Slide 16: 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 17: Regional Assessments for Critical Metals
=~ we Ga Regional Assessments for Critical Metals JN AZIMUT Lithium - Nickel EXPLORATION AZtechMine™ PREDICTIVE MODELLING THAT WORKS o
Slide 18: Kakamas / Lithium Province
Kakamas AZM-KGHMPoption World-Class Eotorging = a Lithium Province AZIMUT HAS THE LARGEST LAND von * HOLDINGS IN THE REGION 2 Bay Pilipa ; e@ SB 4 6 major projects identified as highly sunischivon Bef ta _ prospective for lithium serach ‘AZMMont Rdyal option 4 Two JV projects with SOQUEM in immediat
Slide 19: Figure as at February 23, 2023
Figure as at February 23, 2023
Slide 20: Figure as at February 23, 2023
Figure as at February 23, 2023
Slide 21: Nickel Portfolio
Po eo, 9 AZM-SOQUEM JV/™ @ Pikwo A AZM-SOQUEM JV Dolmas Wi |azw-soquem sv Generating a Unique =... oy Nickel Portfolio STRATEGIC AND PROSPECTIVE . - . — - PORTFOLIO vm Mine Renard Diamond Mine AZM-Everton/Hecla Mining [alinee JAZM-SOQUEM JV 4 Km-scale mafic to ultramafic Bay | RoweSOGUEM av intrusio
Slide 22: Partnered Exploration Activities
Partnered Exploration Activities AZIMUT EXPLORATION
Slide 23: Exploration Partnerships
Exploration ee AUSAeS Partnerships j LEVERAGING TWO ACTIVE nf : PARTNERSHIPS $ @ Mine Wapatik Nickel Project © — h AN A Sold A. deposit Wemindji jeonore 0} © Village/Airport 4 Anew Ni-Cu discovery — 2.68% Ni, ‘ Mine q © tiydro-electric dam 1.30% Cu, 0.09% Co over 3.30 m Jit \ ~ es Pilipas \\ Res — 4
Slide 24: 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 25: Rex Trend 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 26: Rex Trend: Giant Copper Footprint
Rex Trend: Giant | — a Copper Footprint 30 a re 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
Slide 27: Summary
Summary MULTIPLE CATALYSTS IN PLACE Maiden resource estimate Strong potential for additional discoveries Follow up drilling Property-wide program First lithium focused programs District scale potential Mojor positioning for critical metals Low-cost exposure to potential new discoveries A LEADING MUL
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