Azimut Exploration Inc. announce very encouraging visual results from its second phase of diamond drilling on the Galinée Property (the ?Property?) in the Eeyou Istchee James Bay region of Quebec, Canada. Hole GAL24-025 intersected a 166.1-metre-thick envelope containing two broad intervals of spodumene-rich pegmatite of 92.1 m and 56.55 m separated by 17.45 m of amphibolite (cumulative thickness of 148.65 m). The visual drill results represent material progress in the ongoing delineation of the Galinée discovery.

The possible spatial convergence on Galinée of the Main and Footwall zones identified on the adjacent Adina project (Winsome Resources Ltd) may explain this wide envelope. This hypothesis will be tested by additional drilling and, if confirmed, would have a significant positive impact on the size of the mineralized zone on the Galinée project. The current drilling phase was designed to further define and expand the high-grade lithium zone discovered during the maiden program in late 2023.

Ten (10) holes have been drilled to date for a total of 2,569.65 metres and drilling is still ongoing. Initially planned as 2,500 metres, the program will be expanded early this summer, following the Goose Break Holiday, a traditional First Nations hunting period. Azimut and its partner SOQUEM Inc. have ranked the Galinée Property as one of their top priorities for 2024.

Azimut is the operator of the work program. Significant spodumene-bearing intercepts from the ongoing program are as follows (visual observations, downhole lengths, assays pending): Hole GAL24-018: 34.45 metres (from 158.15 m to 192.6 m): pegmatite with up to 15% spodumene, including 40% spodumene over 4.5 metres (from 165 m to 169.5 m); one amphibolite intercalation of 1.35 metres is present within this interval. 8.3 metres (from 213.5 m to 221.8 m): pegmatite with up to 30% spodumene.

Hole GAL24-020: 71.85 metres (from 75.85 m to 147.7 m): pegmatite with up to 40% spodumene, including a strongly mineralized section with up to 70% spodumene over 14.6 metres (from 108 m to 122.6 m), with giant crystals reaching up to 1.4 metres. Hole GAL24-022: 42 metres (from 132.7 m to 174.7 m): pegmatite with variable spodumene contents, including a 40% to 50% spodumene-rich section over 14.8 metres (from 135.2 m to 150 m). Hole GAL24-023: 20.9 metres (from 104.9 m to 125.8 m): pegmatite with 15% to 20% spodumene.

8 metres(from 130.3 m to 138.3 m): pegmatite with 20% to 25% spodumene. Hole GAL24-025: 92.1 metres (from 207.9 m to 300 m): pegmatite with 15% to 30% spodumene; coarse to giant spodumene crystals reaching up to 1.65 metres; two amphibolite intercalations totalling 4.6 m are also present within this interval. 56.55 metres (from 317.45 m to 374 m): pegmatite with 10% to 30% coarse spodumene; three amphibolite intercalations totalling 4.8 m are also present within this interval.

The lithium content of the spodumene mineralization can only be accurately determined by assay analysis. The true widths of the drill intervals are undetermined at this stage. Holes GAL24-019A, -021, -024 and -026 display weak or no mineralization.

Hole 24-019 was abandoned due to drilling difficulties. Visual observations from the ongoing drilling program confirm a sizeable mineralized system at Galinée and better define the geometry of the mineralized zone: Currently, the lithium zone has a strike length of 700 metres and trends roughly east-west. It remains largely open on the Property to the east and south.

The variability in thickness and grade is as expected for these types of pegmatitic bodies. The discovery at Galinée likely represents the southern extension of the Adina deposit on the adjacent Adina project belonging to Winsome Resources Ltd. At Galinée, initial drilling data indicate a generally shallow dip to the south from subhorizontal to 15 degrees. Additional intercepts from the current program reveal that some pegmatite bodies may dip to the north, suggesting that the pegmatite system consists of coalescing brancheswith variable dips.

At least one of the north-dipping branches has been intersected at shallow depth, as shown by the wide spodumene intercept cut at a vertical depth of 70 metres in hole GAL24-020. The 166.1-metre envelope (from 207.9 m to 374 m) in hole GAL24-025 contains two wide spodumene pegmatites with a cumulative thickness of 148.65 metres possibly representing the spatial convergence of the Adina Main and Footwall zones: First pegmatite: 92.1 metres thick (from 207.9 m to 300 m), including two narrow amphibolite intervals totalling 4.6 metres. The upper part of this intercept (over 26.1 m) may correspond to a north-dipping branch coalescing with the south-dipping main body.

Second pegmatite: 56.55 metres thick (from 317.45 m to 374 m), interpreted as a subhorizontal body, with three narrow amphibolite intervals totalling 4.8 metres.