Azimut Announces Results of the Annual General Meeting

TSXV: AZM
OTCQX: AZMTF

LONGUEUIL, March 3, 2023 - Azimut Exploration Inc. ("Azimut" or the "Company") (TSXV: AZM) (OTCQX: AZMTF) is pleased to announce the voting results for its Annual General Meeting (the "Meeting") of shareholders held February 23, 2023.

A total of 42,621,235 shares were present in person or by proxy at the Meeting representing 53.69% of the issued and outstanding shares of the Company. Shareholders approved all matters presented at the meeting as follows:

Each of the resolutions approved at the Meeting are described in detail in the Company's Management Proxy Circular dated January 19, 2023, available on SEDAR at www.sedar.com.

Following the Meeting, the board of directors reappointed the following officers of the Company: Jean-Marc Lulin, President and CEO; Moniroth Lim, CFO and Corporate Secretary; Jonathan Rosset, VP Corporate Development.

A detailed strategic update and outlook on Azimut's plan for 2023 was published on February 23, 2023.

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. Its wholly-owned flagship Elmer Gold Project is actively advanced to the initial resource stage in the James Bay region. Azimut
also controls a strategic land position for copper-gold, nickel and for lithium including projects with significant discoveries directly on strike on adjacent projects. At least 10 work programs are planned for 2023 including an aggressive lithium focused field assessment phase as early as possible after the winter season.

Azimut uses a pioneering approach to big data analytics (the proprietary AZtechMine™ expert system), enhanced by extensive exploration know-how. Azimut's competitive edge is based on systematic regional-scale data analysis and concurrently active projects.

Azimut is led by a team with a wide range of national and international expertise in the mining industry, including technical, financial and legal experience from exploration to production. The Company maintains rigorous financial discipline and a strong balance sheet, with 79.5 million shares issued and outstanding.

www.azimut-exploration.com

This press release contains forward-looking statements, which reflect the Company's current expectations regarding future events. To the extent that any statements in this press release contain information that is not historical, the statements are essentially forward-looking and are often identified by words such as "anticipate", "expect", "estimate", "intend", "project", "plan" and "believe". The forward-looking statements involve risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There are many factors that could cause such differences, particularly volatility and sensitivity to market metal prices, impact of change in foreign currency exchange rates and interest rates, imprecision in reserve estimates, environmental risks including increased regulatory burdens, unexpected geological conditions, adverse mining conditions, changes in government regulations and policies, including laws and policies, and failure to obtain necessary permits and approvals from government authorities, as well as other development and operating risks. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this document. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, other than as required to do so by applicable securities laws.

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.

SOURCE Azimut Exploration Inc.