Azimut Appoints Rock Lefrançois as Vice President Exploration

TSXV: AZM
OTCQX: AZMTF

LONGUEUIL, April 13, 2023 - Azimut Exploration Inc. ("Azimut" or the "Company") (TSXV: AZM) (OTCQX: AZMTF) is pleased to announce that Mr. Rock Lefrançois, P.Geo., has been promoted Vice President Exploration of the Company. Mr. Lefrançois was previously acting as Manager - Special Projects for Azimut.

Mr. Lefrançois holds 35 years of international experience in the search, evaluation and development of gold and base metal deposits throughout the Americas. During his 15 years of engagement with mid-tier mining companies he was responsible for the implementation of project generative and acquisition programs and the management of exploration and extensive resource and reserve definition drilling programs and collaborated on economic assessments. For the last 20 years, Mr. Lefrançois has been involved in the management and development of publicly traded junior exploration and mine development companies.

In the position of President & COO of NioGold Mining Corp., he was a key contributor to the consolidation of the largest land position in the Malartic Gold Camp in Abitibi, the definition of 2 Moz of gold resources and the negotiation of strategic partnerships with gold producers. NioGold was taken over by the Osisko Group in 2016.

In the position of COO of Columbus Gold Corp. (now Orea Mining Corp.), Mr. Lefrançois was responsible for the management of a joint venture between Columbus and gold producer Nord Gold plc for the completion of the Bankable Feasibility Study and Environmental and Social Impact Study on the Montagne d'Or open pit gold mine project (4.8 Moz resources, 2.8 Moz reserves), located in French Guiana, South America, leading to a mine construction decision by the joint venture and the start of the permitting process. More recently, as President & COO, and subsequently, President & CEO of Columbus, Rock implemented a corporate growth strategy involving the search, evaluation, and acquisition of gold projects in South America with a priority on the Guianas.

Mr. Lefrançois holds a bachelor's degree, specialization Geology, from Concordia University in Montreal.

A total of 100,000 stock options from Azimut have been granted to Mr. Lefrançois with his promotion as Vice President Exploration. These options will vest in tranches over a three (3) year period with an exercise price of $1.44 per share, and are exercisable for a ten (10) year period. This grant is subject to regulatory approval.

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 Elmer Gold Project is actively advanced to the initial resource stage in the James Bay region. Azimut also controls a strategic land position for copper-gold, nickel and lithium. At least 10 work programs are planned for 2023, including an aggressive lithium-focused field assessment phase as early as possible after the winter season.

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 is led by a team with a wide range of national and international expertise in the mining industry, including technical, financial and legal experience from exploration to production. The Company maintains rigorous financial discipline and a strong balance sheet, with 79.7 million shares issued and outstanding.

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.

SOURCE Azimut Exploration Inc.