Azimut and SOQUEM find Gold on the Pontois Property, James Bay region, Québec Longueuil, Quebec – Azimut Exploration Inc. (“Azimut” or the “Company”) ( TSXV: AZM) is

For immediate release

November 08, 2018

Symbol: AZM.TSX Venture

Press Release

Azimut and SOQUEM find Gold on the Pontois Property,

James Bay region, Québec

Longueuil, Quebec – Azimut Exploration Inc. (“Azimut” or the “Company”) ( TSXV: AZM) is

pleased to report it has discovered gold mineralization on the Pontois Property, which is jointly owned

with SOQUEM Inc. (“SOQUEM”) under a Strategic Alliance covering the James Bay region of Quebec

(see Figure).

HIGHLIGHTS

- Best gold results are 6.02 g/t Au, 2.56 g/t Au and 0.90 g/t Au in grab samples from outcrops

(see Photos 1 and 2).

- Other associated values include silver (up to 2.61 g/t Ag ) and tellurium ( up to 23.7 g/t Te ).

Significant copper values (up to 0.18% Cu) were obtained 2.0 kilometres from the prospect,

along the same geological trend.

- Gold is hosted in mafic metavolcanics and intrusive dykes with quartz veins , near a sheared

contact with metasediments. The intrusive facies contain s disseminated fine pyrite. This 40-

metre by 20-metre sector is open along strike in both directions . Its potential extensions will

be tested by detailed follow-up field work in 2019.

- There were no known showings on the Property before the current exploration initiative.

- Gold exploration on the Pontois Property focuses on a priority target defined in 2016 by

Azimut’s predictive mineral potential modelling at the scale of the James Bay region over

176,300 km2. The same modelling produced the Munischiwan and Pikwa properties for which

very encouraging results have been recently announced (see press re leases of October 25

and November 6, 2018).

The Pontois Property (348 claims, 177 km2) is located 360 kilometres east of the Cree community

of Chisasibi in an area serviced by excellent infrastructure including permanent roads, power grids

and airport facilities. The Trans -Taiga Road, an east -west gravel highway in the region, passes

through the Property. P ontois has been the subject of a 100% partner -funded exploration program

with Azimut as the operator.

The 2018 prospecting work produced 131 grab samples, mostly from outcrops. This follows a detailed

lake-bottom sediment geochemistry survey conducted in 2016 (2 37 samples), as well as an initial

prospecting phase in 2017 ( 225 rock samples) (see press release of June 6, 2018). Grab samples

collected during prospecting are selective by nature and unlikely to represent average grades.

SOQUEM has selected six properti es under the terms of the Strategic Alliance for a total of 2,059

claims (1,061 km2): Pontois (348 claims), Munischiwan (167 claims), Pikwa (435 claims), Galinée

(658 claims), Dalmas (88 claims) and Desceliers (363 claims). In addition, three other projects are

also the subject of preliminary field reconnaissance programs under the Strategic Alliance: Corvet

(72 claims), Synclinal North (46 claims) and Synclinal South (54 claims).

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.

The field program is under the direction of François Bissonnette, Operations Manager for Azimut, and

Dr. Martin Tuchscherer, Chief Geologist for Azimut. This press release was prepared by Dr. Jean -

Marc Lulin, P.Geo., acting as Azimut’s qualified person under National Instrument 43-101.

SOQUEM, a subsidiary of Ressources Québec, is a leading investor in mineral exploration in Québec.

Its mission is to explore, discover and develop mining properties in Québec. SOQUEM has

participated in more than 350 exploration projects and contributed to major discoveries of gold,

diamonds, lithium and other minerals.

Azimut is a mineral exploration company whose core business is centred on target generation and

partnership development. The Company’s pioneering proprietary approach to Big Data analytics is

enhanced by extensive exploration know -how. Azimut maintains rigorous financial discipline. It has

48.5 million shares outstanding.

Azimut holds a strategic position for gold and base metals in Quebec, including one of the largest

exploration portfolios in the James Bay region (22 properties covering 4,541 claims or 2,361 km2).

Contact and Information

Jean-Marc Lulin, President and CEO

Tel.: (450) 646-3015 – Fax: (450) 646-3045

[email protected] www.azimut-exploration.com