Azimut Exploration Inc. (TSX-V: AZM) is pleased to report that it continues to intersect wide, high-grade gold intervals at the Patwon discovery on the Company’s 100% owned Elmer Property in the James Bay region of Quebec.

Azimut’s current diamond drilling program is now complete with 15,135.5 metres drilled (67 holes). Three new holes totalling 1,393 metres are reported in this press release. Ten (10) holes totalling 2,463.5 metres were previously reported (see press release dated May 19, 2021). Assay results are pending for the remaining 54 holes from the program (17 on Patwon and 37 on new targets) (see press release dated June 2, 2021).

The significant results of this release are:

• Hole ELM21-086   24.04 g/t Au over 18.0 m (from 254 m to 272 m), incl. 38.7 g/t Au over 9.0 m, and 44.4 g/t Au over 1.0 m (from 307.7 m to 308.8 m)
• Hole ELM21-073   1.44 g/t Au over 66.0 m (from 407.3 m to 473.3 m), incl. 3.09 g/t Au over 10.5 m

HIGHLIGHTS (Figures 1 to 6, Photo 1, Tables 1 to 4)

• These new results further confirm the robustness and strong growth potential of the Patwon gold zone. Patwon remains wide open below 450 metres, with a possible gold grade increase with depth.
• Azimut’s management considers Patwon to be one of the largest gold discoveries in the James Bay region since the discovery of the Éléonore deposit in 2004.
• The delineation drilling at Patwon on systematic 50-metre centres is designed to expand the zone. No infill drilling is being conducted at this stage.
• The mineralized body is currently defined over a strike length of 500 metres and a minimum depth of 450 metres, where the mineralized system remains robust and open. The average estimated true width is about 35 metres based on previously released results from 44 drill holes. True widths can reach up to 80 metres.
• The gold zone shows an impressive central core (Figure 4) extending from surface to a minimum depth of 450 metres, with an estimated true width of 50 metres and a grade x thickness factor ranging from 50 to 412 (based on true widths). This core zone is spatially correlated with a vertically dipping felsic intrusion, indicating an excellent possibility for a kilometre-scale vertical extent of the Patwon gold zone.

The Elmer Property comprises 515 claims covering 271.3 km² over a 35-kilometre strike length. The Property is 285 kilometres north of the town of Matagami, 60 kilometres east of the village of Eastmain, and 5 kilometres west of the paved James Bay Road, a major all-season highway. The region benefits from quality infrastructure, including significant road access, a hydroelectric power grid and airports.

Drilling Contract and Analytical Protocols

The drilling contract was awarded to RJLL Drilling Inc. of Rouyn-Noranda, Quebec. The core diameter is NQ. Core samples are sent to AGAT Laboratories of Mississauga, Ontario. Gold is analyzed by fire assay, with atomic absorption and gravimetric finish for grades above 3.0 g/t Au. Samples are also analyzed for a 48-element suite using ICP. Azimut applies industry-standard QA/QC procedures to the program. Certified reference materials, blanks and field duplicates are included in all drill core batches sent to the laboratory.

Dr. Jean-Marc Lulin, P.Geo., prepared this press release as Azimut’s Qualified Person under National Instrument 43-101. The program is managed by François Bissonnette, P.Geo., Operations Manager and Simon Houle, P.Geo., Chief Geologist. Both have reviewed the content of this press release.

About Azimut

Azimut is a mineral exploration company whose core business centres on target generation and partnership development. The Company is actively advancing the Patwon gold discovery on its 100%-owned flagship Elmer Property in the James Bay region.

The Company uses a pioneering approach to big data analytics (the proprietary AZtechMine^TM expert system), enhanced by extensive exploration know-how. Azimut maintains rigorous financial discipline and has 69.2 million shares outstanding. Azimut’s competitive edge against exploration risk is founded on systematic regional-scale data analysis and multiple concurrently active projects.