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AZM.V ·

Azimut Appoints Alain Cayer as Project Manager

Management Changes

For immediate release

February 29, 2024

TSXV: AZM

OTCQX: AZMTF

Press Release

Azimut Appoints Alain Cayer as Project Manager

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

is pleased to announce the appointment of Mr. Alain Cayer as Project Manager for the Company. His role

will mainly focus on advancing the Elmer Gold Project.

During his career, Mr. Cayer has acquired extensive experience in mineral exploration in Quebec for a wide

range of geological settings and mineral commodities (gold, copper, nickel, rare earths, niobium).

His previous positions include VP Exploration for Kintavar (2017-2024), Chief Geologist then VP Exploration

for Geomega Resources (2011-2024), Senior Geologist for Geonordic Technical Services (2002-2011) and

Geologist for SOQUEM (1998-2000).

Mr. Cayer contributed directly to the discovery of the Éléonore gold deposit as Project Manager for Virginia

Gold Mines, from the initial discovery of the Roberto Zone in 2003 to the sale of the mining project to

Goldcorp in 2005. For this discovery, he and the rest of the Virginia Gold Mines team received the PDAC’s

Bill Dennis Prospector of the Year award in 2005. He and the Virginia team also received the AEMQ’s 2004

Prospector of the Year Award for the Eleonore and Coulon projects.

Mr. Cayer holds a B.Sc. in Applied Geology – Mineral Resources (1997) and an M.Sc. in Earth Sciences

(2001) from UQAM.

About Azimut

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

development. The Company holds the largest mineral exploration portfolio in Quebec (Canada). Its wholly

owned flagship project, the Elmer Gold Project , has advanced to the resource stage with a strong

exploration upside. The Company also controls a strategic land position for copper-gold, nickel and lithium.

Azimut uses a pioneering approach to big data analytics (the proprietary AZtechMine™ expert system)

enhanced by extensive exploration know -how. The Company’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 85.4 million shares issued and outstanding.

Contact and Information

Jean-Marc Lulin, President and CEO

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

Jonathan Rosset, Vice President Corporate Development

Tel.: (604) 202-7531

[email protected] www.azimut-exploration.com

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.