Azimut Grants Stock Options

Azimut Exploration Inc.

(“Azimut” or the “Company”) (

TSXV: AZM

) (

OTCQX: AZMTF

) announces that on December 17, 2024, a total of 845,000 stock options were granted to directors, officers, employees, and consultants. Of this number, 730,000 have been granted to directors and officers and 115,000 to employees and consultants. These options have an exercise price of $0.61 per share and are exercisable for a 10-year period.

About Azimut

Azimut is a leading mineral exploration company with a solid reputation for target generation and partnership development. The Company holds the largest mineral exploration portfolio in Quebec, controlling strategic land positions for copper-gold, nickel and lithium.

Its wholly owned flagship project, the Elmer Gold Project, is at the resource stage (311,200 oz Indicated; 513,900 oz Inferred*) and has a strong exploration upside. Azimut is also advancing the Galinée lithium discovery with its joint venture partner SOQUEM Inc. In addition, significant exploration progress has been made in 2024 on the following projects: Wabamisk (antimony-gold; lithium), Kukamas (nickel-copper-PGE) and Pilipas (lithium).

Azimut uses a pioneering approach to big data analytics (the proprietary AZtechMine™ expert system) enhanced by extensive exploration know-how. The Company’s competitive edge is based on systematic regional-scale data analysis. Azimut maintains rigorous financial discipline and a strong balance sheet, with 85.6 million shares issued and outstanding.

Contact and Information

Jean-Marc Lulin, President and CEOTel.: [phone] – Fax: [phone]

Jonathan Rosset, Vice President Corporate DevelopmentTel.: (604) [e-mail]        www.azimut-exploration.com

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*   “Technical Report and Initial Mineral Resource Estimate for the Patwon Deposit, Elmer Property, Quebec, Canada”, prepared by: Martin Perron, P.Eng., Chafana Hamed Sako, P.Geo., Vincent Nadeau-Benoit, P.Geo. and Simon Boudreau, P.Eng. of InnovExplo Inc., dated January 4, 2024.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.