Azimut Exploration : advances the Elmer Gold Discovery, currently defined as a 500-metre-long body drilled down to 250 m vertical, open in all directions

LONGUEUIL - Azimut Exploration Inc. ('Azimut' or the 'Company') (TSXV: AZM) is pleased to report the remaining assay results from 24 holes on its 100% owned Elmer Property (the 'Property') in the James Bay region of Quebec.

The holes were part of this year's 55-hole diamond drilling program (10,515 m). To date, Azimut has drilled 62 holes (11,511 m) on the Property.

The Patwon Zone is shaping up as a significant gold discovery with a high probability of growth along strike and at depth. Of note, every hole drilled within this envelope intersected gold mineralization.

A substantial exploration program is planned for 2021 to expand the discovery and test several surrounding quality targets. The drilling component, which will start in January, includes a minimum of 15,000 metres.

Highlights

Azimut confirms the discovery of a consistent steeply dipping gold-bearing zone traced over a strike length of 500 metres to a depth of 250 metres and up to 80 metres true width.

The mineralized zone, open in all directions, shows excellent geometrical continuity, so far defined by 38 contiguous holes drilled systematically on 50-metre centres.

The preliminary geometry may support the concept of an initial open pit mining operation. The consistent high-grade component in most holes may indicate potential for an underground mine. The deposit type suggests a potential for kilometre-scale vertical extension.

About Azimut

Azimut is a mineral exploration company whose core business is centred on target generation and partnership development. The Company uses a pioneering approach to big data analytics (the proprietary AZtechMineTM expert system) enhanced by extensive exploration know-how. Azimut maintains rigorous financial discipline and has 69.1 million shares outstanding. Azimut's competitive edge against exploration risk is founded on systematic regional-scale data analysis and multiple concurrently active projects.

Contact:

Jean-Marc Lulin

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