Mr. Jean-Marc Lulin reports

AZIMUT GRANTS STOCK OPTIONS

On Dec. 17, 2024, a total of 845,000 stock options were granted to directors, officers, employees and consultants. Of this number, 730,000 have been granted to directors and officers and 115,000 to employees and consultants. These options have an exercise price of 61 cents per share and are exercisable for a 10-year period.

About Azimut Exploration Inc.

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, controlling strategic land positions for copper-gold, nickel and lithium.

Its wholly owned flagship project, the Elmer gold project, is at the resource stage (311,200 ounces indicated; 513,900 ounces inferred) and has a strong exploration upside. Azimut is also advancing the Galinee lithium discovery with its joint venture partner Soquem Inc. In addition, significant exploration progress has been made in 2024 on the following projects: Wabamisk (antimony-gold and lithium), Kukamas (nickel-copper-platinum group elements) and Pilipas (lithium).

Azimut uses a pioneering approach to big data analytics (the proprietary AZtechMin expert system) enhanced by extensive exploration know-how. The company's competitive edge is based on systematic regional-scale data analysis. Azimut maintains rigorous financial discipline and a strong balance sheet, with 85.6 million shares issued and outstanding.