Azimut Announces Results of the Annual General Meeting and Election of Vanessa Laplante to the Board

LONGUEUIL, Feb. 26, 2024 - Azimut Exploration Inc. ("Azimut" or the "Company") (TSXV:AZM) (OTCQX:AZMTF) is pleased to announce the voting results for its Annual General Meeting (the "Meeting") of shareholders held February 23, 2024. At the Meeting, Mrs. Vanessa Laplante was elected as a director to join the Board and the Company anticipates the valuable contribution she will bring. The Board of Directors also wishes to acknowledge the remarkable participation and commitment to the Company by Mrs. Angelina Mehta, who did not stand for reappointment.

A total of 49,951,089 shares were present in person or by proxy at the Meeting representing 58.5% of the issued and outstanding shares of the Company. Shareholders approved all matters presented at the meeting as follows:

Each of the resolutions approved at the Meeting are described in detail in the Company's Management Proxy Circular dated January 19, 2024, available on SEDAR+ at sedarplus.ca.

Vanessa Laplante brings over 32 years of experience in management, finance, and taxation, including 18 years in the mining industry. She is a leader in her specialized field, mining taxation. From 2021 to 2023, she served as the President of the Board of Directors for the Quebec Mining Association, becoming the second woman in the history of QMA to hold this position. During her tenure, she chaired the taxation committee for over 10 years. Mrs. Laplante has developed her expertise within major Canadian gold producers. She held the position of Director of Tax and the Montreal office as well as Treasurer for the Canadian Malartic Partnership, a company formerly owned by Agnico Eagle Mines Ltd. and Yamana Gold Inc and operating the Canadian Malartic and Odyssey mines from 2014 to 2023. She has also held similar roles and made significant contributions at Osisko Mining Corporation from 2010 to 2014, Iamgold Corporation, and Cambior Inc from 2006 to 2010. She is an independent director and Chair of the Audit Committee at Critical Elements Lithium Corp. since 2022. She was a member of the advisory committee on the simplification of the mining royalty regime formed by the Quebec Ministry of Natural Resources from 2015 to 2019.

Ms. Laplante holds the ASC, C.Dir. designation - Certified Corporate Director of the University Laval Certification Program in Corporate Governance. She also holds a bachelor's degree in business administration from the University of Sherbrooke and is a member of the Ordre des comptables professionnels agréés du Québec (CPA designation).

Following the Meeting, the Board of Directors reappointed the following officers of the Company: Jean-Marc Lulin, President and CEO; Moniroth Lim, CFO and Corporate Secretary; Jonathan Rosset, VP Corporate Development; Rock Lefrancois, VP Exploration.

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
info@azimut-exploration.com www.azimut-exploration.com

This press release contains forward-looking statements, which reflect the Company's current expectations regarding future events. To the extent that any statements in this press release contain information that is not historical, the statements are essentially forward-looking and are often identified by words such as "anticipate", "expect", "estimate", "intend", "project", "plan" and "believe". The forward-looking statements involve risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There are many factors that could cause such differences, particularly volatility and sensitivity to market metal prices, impact of change in foreign currency exchange rates and interest rates, imprecision in reserve estimates, environmental risks including increased regulatory burdens, unexpected geological conditions, adverse mining conditions, changes in government regulations and policies, including laws and policies, and failure to obtain necessary permits and approvals from government authorities, as well as other development and operating risks. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this document. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, other than as required to do so by applicable securities laws.

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.