AZM.V · 2022-04-06 12:00:00

Azimut Advances Camp-Scale Exploration at Elmer Reverse Circulation Drilling over 9 Kilometres of Highly Prospective Ground Symbol: AZM.TSX Venture

Exploration Programs

Azimut Advances Camp-Scale Exploration at

Elmer

Reverse Circulation Drilling over 9 Kilometres of Highly Prospective Ground

Symbol: AZM.TSX Venture

LONGUEUIL, QC

April 6, 2022

/CNW Telbec/ -

Azimut Exploration Inc.

("Azimut" or the

"Company") (TSXV: AZM) is pleased to report significant progress as it continues to investigate the

camp-scale exploration potential

around the

Patwon Gold Zone

on the Company's 100% owned

Elmer Property (the "Property") in the Eeyou Istchee James Bay region of

Quebec

The Company has now completed a

systematic 507-hole reverse circulation ("RC") drilling

program

to test highly prospective areas on strike to or subparallel to the Patwon Zone. This

extensive program was conducted concurrently with a minimum 20,000-metre delineation core

drilling phase to expand Patwon and deliver a maiden mineral resource estimate (

see press release

March 10, 2022

The RC program is a key validation step before undertaking the planned summer 2022 core drilling

program. Critical data was collected from a

9-kilometre-long section

of a roughly

20-kilometre-

long by 1.5- to 2-kilometre-wide

gold-bearing structural corridor previously defined by the

Company's systematic work (including prospecting, till sampling and core drilling).

HIGHLIGHTS

(

see Figures 1 to 8

and

Table 1)

507 vertical RC holes

totalling

6,681 metres

were drilled this winter on regularly spaced

drilling fences

to acquire critical information from a highly prospective but non-outcropping area

9 kilometres long by 0.5 to 1.5

kilometres wide

around the Patwon Zone.

The drill grid for this RC program consisted of

44 drill fences spaced 300 metres

apart

average,

with holes spaced 25 metres apart along the fences

. The aim was to

collect

bedrock samples

at the base of the glacial sediment cover. RC drilling is an effective approach

to systematically sample large areas which are otherwise inaccessible to direct observation.

The drilling program uses the Patwon surface footprint as a benchmark to optimize the

discovery of new gold-bearing zones. Patwon has been defined over a strike length of 600

metres and a width of 35 metres. It is accompanied by a well-defined geochemical halo, up to

200 metres wide, correlated with increasing gold grades. The design of the RC grid pattern

maximizes the chances of cutting through a comparable mineralized geometry if it exists within

the area (

see Figure 5

Preliminary visual observations of rock chip samples from the RC program are encouraging,

including numerous pyrite and/or quartz-bearing samples associated with altered felsic intrusive

and volcanic rocks. These findings suggest that several sectors display features comparable to

Patwon.

The positioning of the drill fences takes into account the results of the 2021 exploration

program, including prospecting (203 grab and 104 channel samples), till sampling (199 samples)

and diamond drilling (31 holes,

5,034 m

) (see Table 1). It also considers the data from a high-

resolution magnetic survey, a ground geophysics survey (induced polarization), and

comprehensive geological and structural interpretations. A few of the lines were adjusted to

accommodate hydrographic constraints.

At least three kilometre-scale priority targets in the vicinity of Patwon warrant follow-up core

drilling. Pending results from the 507 RC drill holes will further define these targets and

potentially add new ones (

see Figures 6 to 8

Gabbro Zone

2-kilometre-long area marked by a shear structure, approximately 200 metres south of Patwon.

Previous exploration work yielded the following results (

see press release of

November 11, 2021

Diamond drill hole ELM21-88:

122 g/t Au, 160 g/t Ag and 307 g/t Te over

0.5 m

;

Grab samples: Up to

77.8 g/t Au, 167 g/t Ag and 124 g/t Te

on the Gabbro Prospect;

Till samples: High counts, with up to 166 gold grains, mostly pristine;

Geophysics: IP anomalies superimposed on the lithostructural trend.

Most of this area is not outcropping. A total of 36 RC holes were drilled on four fences to assess the

target and prepare for follow-up core drilling.

881 Zone

1.8-kilometre-long target marked by sheared felsic and mafic volcanics approximately 1 kilometre

north of Patwon.

Till samples: High counts, with up to

881 gold grains,

mostly pristine;

Grab samples: Up to

102.52 g/t Au

from a prospect 1 kilometre east of the gold-bearing

dispersion train in till;

Geophysics: IP anomalies superimposed on the lithostructural trend.

A total of 35 RC holes were drilled on three fences to assess the target and prepare for follow-up

core drilling.

Wolf Zone

0.8-kilometre-long target marked by sheared felsic and mafic volcanics approximately 2.5 kilometres

NW of Patwon.

Channel samples: A 40-metre-long quartz vein striking NE on the Wolf Prospect returned up to

19.25 g/t Au over

1.0 m

and

12.3 g/t Au over

1.75 m

;

Diamond drill hole ELM21-107:

3.7 g/t Au over

0.7 m

, located 400 metres to the NE of the

Wolf Prospect;

Geophysics: IP anomalies superimposed on the lithostructural trend.

The Elmer Property comprises 515 claims covering 271.3 km

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 Billy-Diamond Highway, a major all-season highway.

The region benefits from excellent infrastructure, including significant road access, a hydroelectric

power grid and airports.

Updated drilling database

The updated drilling database for the Patwon Zone is available for download on Azimut's website

under the heading

Elmer Drilling Data

Drilling Contract and Analytical Protocols

The RC drilling contract was awarded to Steve's Equipment Services Inc. of

Sesekinika, Ontario

Rock chip samples from the program were sent to ALS Laboratories ("ALS") in

Val d'Or, Quebec

All results are pending.

The core drilling contract was awarded to RJLL Drilling Inc. of

Rouyn-Noranda, Quebec

. The core

diameter is NQ. Core samples were sent to AGAT Laboratories of

Mississauga, Ontario

Prospecting samples were sent to ALS. Gold was 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 batches of drill core sent to the laboratory.

rab samples are selective by nature and unlikely to represent average grades

The till samples were collected and processed under the supervision of Dr.

Remi Charbonneau

P.Geo. Sample sizes ranged from 3 to 15 kg. In some cases, the samples contained a significant

amount of organic material. The grain count per sample was normalized to an average of 5 kg of

sieved mineral fractions passing 3 mm. After fines were extracted by decantation, the dense fraction

was extracted by hand panning and gold grains were counted and described using a binocular

microscope. Quantitative laboratory analysis for gold and a suite of other elements was performed

on the dense fraction using INAA and on the fine fraction using ICP-MS.

Gold grain counting from till

samples is an indirect exploration technique that, by itself, is not indicative of gold discoveries in

bedrock.

Dr.

Jean-Marc Lulin

, P.Geo., prepared this press release as Azimut's Qualified Person under

National Instrument 43-101. François Bissonnette, P.Geo., Operations Manager,

Michel

Chapdelaine

, P.Geo., Project Manager, and Dr. Rémi Charbonneau, P. Geo., Senior Consulting

Quaternary Geologist have also reviewed the content of this press release.

Amendment to the Stock Option Plan

The Board of Directors has approved amendments to the Company's stock option plan (the "

Option

Plan

") in accordance with the new provisions of Policy 4.4 of the TSX Venture Exchange, as follows:

Azimut has increased the number of common shares reserved for future issuance under the

Option Plan by 2,333,000 for a total of 8,175,000, representing approximately 9.99% of the

81,903,844 issued and outstanding common shares of the Company as at

April 4, 2022

Azimut has added a provision to the Option Plan pursuant to which, in the event of early

retirement, resignation or voluntary departure of an option holder with less than three (3) years

of service, the expiry date of an option will be deemed to be the earlier of (a) its expiry date or

(b) a date falling one (1) month from the date on which the holder ceased to hold office or

perform duties.

Azimut has incorporated various clerical adjustments into the Option Plan to align certain terms

with new provisions of Policy 4.4.

About Azimut

Azimut is a leading mineral exploration company with a solid reputation for target generation and

partnership development. The Company is actively advancing its wholly-owned flagship Elmer Gold

Project in the

James Bay

region to the initial resource stage.

The Company 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

maintains rigorous financial discipline and a strong balance sheet, with 81.9 million shares issued and

outstanding.

Cautionary note regarding forward-looking statements

This press release contains forward-looking statements, which reflect the Company's current

expectations regarding future events related to the drilling results at the Elmer Property. 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 "consider",

"anticipate", "expect", "estimate", "intend", "project", "plan", "potential", "suggest" 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, recoveries of gold and other metals, environmental risks

including increased regulatory burdens, unexpected geological conditions, adverse mining

conditions, community and non-governmental organization actions, changes in government

regulations and policies, including laws and policies, global outbreaks of infectious diseases,

including COVID-19, 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. The reader is directed to carefully review the detailed risk discussion

in our most recent Annual Report filed on SEDAR for a fuller understanding of the risks and

uncertainties that affect the Company's business.

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

Table 1

: 2021 Significant Exploration Results (outside the Patwon Gold Zone)

Prospecting Results

(

see Figures 2 to 8

)

New Prospects

Grab (G) or channel (C) samples

Distance from Patwon

Description

15.75 g/t Au (G)

1.72 g/t Au (G)

1.60 g/t Au, 0.23% Cu (G)

0.38 g/t Au, 0.11% Cu (G)

2.8 km W

Quartz-carbonate-chlorite veins crosscutting a gabbro with

traces of pyrite and locally chalcopyrite; parallel to schistosity

2.4 g/t Au (G)

4.9 km W

Quartz-ankerite-tourmaline vein crosscutting intermediate tuff

2.54 g/t Au over 0.75 m (C)

1.1 g/t Au over 0.6 m (C)

3.75 km WSW

0.57 g/t Au (G)

6.66 km ENE

Fined-grained sheared gabbro with traces of pyrite,

crosscut by a quartz vein

Prospect Reassessments

Channel samples

Distance from Patwon

Description

Wolf Prospect

19.25 g/t Au over 1.0 m

12.3 g/t Au over 1.75 m

4.41 g/t Au over 1.0 m

2.6 km WNW

Outcropping, 40-m-long, NE-striking decimetric to metric

quartz vein carrying pyrite and chalcopyrite with siliceous

and sericitic alteration along vein selvages

Boulder Lake Prospect

1.10 g/t Au over 5.1 m

2.37 g/t Au, 1.2% Zn, 0.85% Pb over 1.8 m

6.9

km W

Quartz-chlorite veins crosscutting felsic volcanics; sphalerite,

galena and pyrite with sericite alteration

AJ-2 Prospect

2.11% Zn, 968 ppm Pb over 0.65 m

0.24% Zn over 1.85 m

0.14% Pb over 0.85 m

0.66% Zn, 0.24 g/t Au over 0.6 m

8.5 km W

0.5- to 0.7-m-thick rusty sulphide horizon with sphalerite and

galena, cropping out over a 60-m distance,

Core Drilling Results

(

see Figures 6 to 8

)

Hole #

Interval

From / To

Description

ELM21-088

122 g/t Au, 160 g/t Ag, 307 g/t Te over 0.5 m

119.1 m / 199.6 m

Quartz veinlets with visible gold, pyrite,

tourmaline, hosted in a sheared gabbro

ELM21-107

3.7 g/t Au over 0.7 m

25.6 m / 26.3 m

Quartz vein subparallel to schistosity

Hole Coordinates

Hole #

Azimuth

Dip

Length (m)

UTM East

UTM North

Elevation (m)

ELM21-088

142.3

-45.2

123

319234.51

5800219.88

160.41

ELM21-107

146.4

-44

150

316534.33

5801313.69

165.90

Till Sampling Results

(

see Figure 4

)