Azimut Sells to Patriot Battery Metals its JBN-57 Property,
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For immediate release
May 2, 2024
TSXV: AZM
OTCQX: AZMTF
Press Release
Azimut Sells to Patriot Battery Metals its JBN-57 Property,
James Bay Region, Quebec
Longueuil, Quebec – Azimut Exploration Inc. (“Azimut” or the “Company”) (TSXV: AZM) (OTCQX: AZMTF)
is pleased to announce the signing of a Sale and Purchase Agreement (the “Agreement”) with Patriot Battery
Metals Inc. (“Patriot”) (TSX:PMET, ASX:PMT) for its wholly-owned JBN-57 Property (the “Property”), in the
Eeyou Istchee James Bay region of Quebec (see Figures 1 and 2).
Under the Agreement, Patriot has acquired a 100% interest in the Property from Azimut for a cash payment
of $500,000 and the issuance of 150,000 shares of Patriot. Azimut will retain a 2.0% NSR royalty on the
Property. The parties were dealing at arm’s length. The monetization of this claim block in the Azimut portfolio
provides the Company with additional funds to advance work programs on its flagship projects.
The JBN-57 Property (39 claims, 19.95 km2) is located 9 kilometres south of the Trans-Taiga Road. The
Property is adjacent to Patriot’s Corvette Project and directly on strike with the major lithium pegmatite trend
identified on the Corvette Property. The Property was staked a s part of a regional nickel targeting exercise
but also displays exploration potential for lithium-cesium-tantalum (LCT) pegmatites . Azimut conducted an
assessment of its potential in 2023, including a short prospecting phase.
This press release was prepared by Dr. Jean -Marc Lulin, P.Geo., acting as Azimut’s qualified person within
the meaning of National Instrument 43-101.
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. Its wholly owned
flagship project, the Elmer Gold Project , has advanced to the resource stage with a strong exploration
upside. The Company also controls strategic land positions for copper -gold, nickel and lithium and is one of
the province’s most active explorers.
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
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.