SOQUEM adds the Galinée and Dalmas properties to its Strategic Alliance with Azimut

Symbol: AZM.TSX Venture

LONGUEUIL, Oct. 3, 2018 -  Azimut Exploration Inc. ("Azimut" or the "Company") (TSXV: AZM) is pleased to report that SOQUEM has decided to add the Galinée and Dalmas properties to its Strategic Alliance with Azimut ("the Alliance") covering the James Bay region in Quebec. The Alliance is dedicated to gold exploration following a predictive mineral potential modelling performed by Azimut over 176,300 km². The projects selected by SOQUEM under the terms of the Alliance (see press release dated September 26, 2016) now comprise six properties totalling 2,144 claims (1,104 km²). The James Bay region offers quality infrastructure and is one of the most active regions for gold exploration in Canada (see Figure).

As previously announced (see press release dated June 6, 2018), a substantial $1.5 million exploration program, funded by SOQUEM, was conducted this summer and fall on the projects of the Alliance. Azimut is manager of the work program.

The six properties part of the Alliance are the following: Galinée (658 claims), Dalmas (88 claims), Munischiwan (159 claims), Pikwa (435 claims), Pontois (441 claims) and Desceliers (363 claims). In addition, three other projects are also subject to preliminary field reconnaissance programs under the Alliance: Corvet (72 claims), Synclinal North (46 claims) and Synclinal South (54 claims). The work completed to date comprises:

• 1,397 rock grab samples from surface prospecting;
• 153 till samples and 49 soil samples;
• Mechanized trenching (at Munischiwan); and
• 1,017 line-km of helicopter-borne magnetic, electromagnetic and spectrometric surveys (at Desceliers).

The results will be announced on a timely basis.

This press release was prepared by geologist Jean-Marc Lulin acting as Azimut's qualified person under National Instrument 43-101.

SOQUEM, a subsidiary of Ressources Québec, is a leading player in mineral exploration in Québec. Its mission is to explore, discover and develop mining properties in Québec. SOQUEM has participated in more than 350 exploration projects and contributed to major discoveries of gold, diamonds, lithium and other minerals.

Azimut is a mineral exploration company whose core business is centred on target generation and partnership development. Targeting is performed using a pioneering proprietary approach to Big Data analytics, enhanced by extensive exploration know-how. The Company maintains rigorous financial discipline. It has 48.5 million shares outstanding.

Azimut holds a strategic position for gold and base metals in Quebec, including one of the largest exploration portfolios in the James Bay region (22 properties covering 4,651 claims or 2,417 km²).

SOURCE Azimut Exploration Inc.