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Azimut Exploration and Mont Royal Resources Advance a Lithium-Focused Field Program at Wapatik, James Bay Region, Quebec

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• James Bay Territory
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Mr. Jean-Marc Lulin reports:

LONGUEUIL, Quebec, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. (“Azimut” or the “Company” (TSXV: AZM) (OTCQX: AZMTF) is pleased to report that a comprehensive lithium-focused prospecting program is underway on the Wapatik Property (the “Property” in the Eeyou Istchee James Bay region of Quebec. Eight (8) extensive target areas have been identified on the Property. Wapatik is about 20 kilometres north of Allkem’s lithium deposit (mineral resource of 110.2 Mt at 1.30% Li2O, published in August 2023).

The Property is under option to Mont Royal Resources Limited (“Mont Royal” (ASX: MRZ). Mont Royal can acquire an initial 50% interest in the Property by spending $4 million in exploration expenditures over four (4) years and a further 20% interest with an additional investment of $3 million and the delivery of a preliminary economic assessment over three (3) years. Azimut operates this partner-funded program.

HIGHLIGHTS (see Figures 1 to 5)

• The lithium targets on the Property have been identified and ranked by processing the following property-scale data:
  • Multi-element geochemistry of the lake sediments (from the provincial government’s regional database)
  • Lithogeochemical results of previous (but not-lithium focused) programs (197 grab rock samples)
  • Till sampling results (154 samples)
  • High-resolution heliborne magnetic survey (5,116-line-km on 25-m spaced lines)
  • Multispectral remote sensing analysis to identify possible outcropping pegmatite bodies
  • Lithostructural interpretation
• Eight multi-kilometre target areas have thus been defined, including at least 30 distinct outcropping targets likely corresponding to pegmatites. Several of these outcrops are anomalous in lithium, cesium and tantalum (“LCT”, as well as other associated pathfinder elements for LCT pegmatites (rubidium, gallium, tin).