Azimut Exploration, Inc. · TSXV:AZM
Azimut Exploration — Investor Presentation (November 2023)
33 slides from Azimut Exploration's investor presentation, November 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: Azimut: A Strategic Positioning in Quebec
Azimut: A Strategic Positioning in Quebec LARGEST EXPLORATION PORTFOLIO IN A STABLE JURISDICTION Rex Trend (Copper-Gold) 31 properties 16,786 claims 8405 km? A Flagship Project 4 Elmer Gold Discovery JB Lithium: 13 blocks 2 Critical Metals Portfolios 4 JB Lithium / JB Nickel Strong Partnerships 4 SO
Slide 4: Corporate Highlights
Corporate Highlights THE RIGHT INGREDIENTS FOR SUCCESS Capital Structure Working Capital ~CS10M Shares 85.2M Outstanding F/D: 91.8M CS0.90 Share Price 52-week H/L: CS1.80 / CS0.49 Market Cap CS75M Working Capitat Estimated after completion of $8.18M financing Shores Outstanding as at October 27, 202
Slide 5: 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 6: 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 7: Elmer Gold Discovery
~~ ~*~ —_ Elmer Gold Discovery Aaa ~
Slide 8: Elmer Gold Project: Positioned to Be a Major Gold Asset in Quebec
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 9: Elmer property map with drill intercepts
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 10: 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 10 A LEADING M
Slide 11: 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 Mineralization remains open laterally and to depth 4 Zone defined 600 m x 860 m x 35 m 4 Maiden resource estimate being finalized Ve
Slide 12: Patwon Gold Zone Longitudinal View
Longitudinal View 1265 git Au(G) | wesan aut) Looking Northwest n reoo 1.51 gt Au (G) 12.6 git Au (G) 2.05 git Au (G) ° e 221 gt AUG) in the Makin ieee ELM20-043 1.775 git Au(G) ELM21-088 ‘ELM20-022 ELM 22-202 180 gh AU/ 1.70 m Ta2gRAu/050m — |338gRAL/ 240m £29 9h AL/0.95m 6.77 gft Au (G) FOLLOWING
Slide 13: 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 14: 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 15: Lithium Portfolio
a Gat Lithium Portfolio JN AZIMUT EXPLORATION AZtechMine™ PREDICTIVE MODELLING THAT WORKS o
Slide 16: Quebec, a Leader in the Green Energy Transition
Quebec, a Leader stanley in the Green Aiport ¢ Power dam Energy Transition ower ine Railway James Bay Lithium Mineral Province 4 Outstanding geologic context for LCT pegmatites 4 Initial exploration stage MINING 4 Sustainable relationships with the Cree First James Bay Lithium Nations Mineral Provin
Slide 17: James Bay Region: World-Class Emerging Lithium Province
Lr~ y, James Bay Region: ae = . haan kakamas Dalmas World-Class Emerging ~~ ey we BBP Lithium Province Coa © GALINEE AZIMUT HAS THE LARGEST LAND onl ® .. ° Tew HOLDINGS IN THE REGION @ Bay Pilipa: 7 @ S 4 5S major projects identified as highly Mupischion z f CE ee rodytlecta Mining prospective for l
Slide 18: Adina Zone
Adina Zone Adina Property (Winsome Resources) Galinée Property (AZM-SOQUEM JV) 5 km Figure as of October 23, 2023
Slide 19: Adina Zone drill intercepts
26.85 m 8.9 m 78.4 m Figure as of October 23, 2023
Slide 20: Galinée Project
Galinée Project SIGNIFICANT EXPLORATION POTENTIAL 4 Large property package: 33 km strike length 4 20-km long lithium prospective trend, spatially associated with well- defined and coincidental anomalies in pathfinder elements (Cesium, Rubidium, Gallium, Tin) 4 Anomalies are also well correlated with
Slide 21: Azimut-Rio Tinto Option properties
(Azimut-Rio Tinto Option) (Azimut-Rio Tinto Option) Figure as of July 10, 2023
Slide 22: Corvet and Kaanaayaa: Close Proximity to a Major Discovery
526,000 Corvette “core Discovery Area tos, POSITIONED IN CLOSE PROXIMITY TO A MAJOR DISCOVERY 4 Corvet 100% AZM — Rio Tinto Option 4 Prominent 26-km-long Li anomaly in lake sediments coupled with strong multi-element footprints for spodumene-bearing pegmatites 5,980,000 Cancet Property (Winsome) Pat
Slide 23: 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 24: Figure as of August 28, 2023
Figure as of August 28, 2023 430,000
Slide 25: Other Exploration Activities
Other Exploration Activities AZIMUT EXPLORATION
Slide 26: 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 Mine PORTFOLIO @ @lNewmont e Renard Diomend Mine Le . . James - @ . e 4 Km-scale mafic to ultrama
Slide 27: Exploration Partnerships
KUKAMAS Exploration tay " AZM/KGHM option e *\ Partnerships ! LEVERAGING TWO ACTIVE : — PARTNERSHIPS ; $ { ‘ ithium : " @ Mine Wapatik Nickel/Copper Project a A petithion) A. deposit Wemindji " © Village/Airport 4 A Ni-Cu discovery — 2.68% Ni, 1.30% Si Maonore Gold © yoda Cu, 0.09% Co over 3.30 m fi
Slide 28: 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 29: A Successful Maiden Drill Program
A Successful Maiden Drill Program ENCOURAGING RESULTS TO DATE W1 Ultramafic Intrusion - Wapatik Property James Bay Region, Québec : ars 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 0.1
Slide 30: 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 31: 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 32: Summary
Summary MINIMUM $10M EXPLORATION BUDGET FOR 2 -2024, incl. S6M PARTNER-FUNDED Maiden resource estimate Galinée: 5,000m program Pikwa /Pontois Mgjor positioning for Senos) LGleincieyc-| oritical metals ° Well defined surrounding Wapatik targets Kukamas A LEADING MULTICOMMODITY EXPLORER AZIMUT EXPLORA
Slide 33: TSXV: AZM OTCQX: AZMTF azimut-exploration.com
ᓇᑯᕐᒦᒃ ᑭᓇᓈᐢᑯᒥᑎᐣ TSXV: AZM OTCQX: AZMTF azimut-exploration.com
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