Interview with Jean-Marc Lulin, President and CEO, Azimut Exploration

Recording date: 27th of January, 2025

Azimut Exploration (TSXV: AZM), under the leadership of President and CEO Jean-Marc Lulin, is a Quebec-based mineral exploration company pursuing a diversified strategy across gold, antimony, nickel, copper, PGEs, and lithium. The company has built its portfolio through systematic project generation and strategic partnerships, maintaining one of the industry's lowest share dilution rates at just 2.2 million shares issued annually over its history.

The company's flagship Elmer gold project hosts a near-surface resource of over 300,000 indicated ounces and 500,000 inferred ounces at approximately 2.0 g/t Au. Management sees significant potential to expand this resource and is considering bringing in a partner to advance the project.

Azimut's recent Wabamisk antimony-gold discovery has emerged as a key focus, with a 5,000-meter drill program currently underway. The project shows promise for high-grade antimony mineralization near surface with potential for gold-rich zones at depth. Additionally, the company recently identified a promising lithium target on the Wabamisk property.

The Kukamas nickel-copper-PGE project, under option to Polish mining giant KGHM, represents another significant opportunity. Initial drilling has returned promising results from Kambalda-style mineralization similar to deposits found in Western Australia. KGHM can earn a 70% interest by completing a preliminary economic assessment.

Azimut's business model combines self-funded exploration with strategic partnerships, having signed 38 option agreements with 19 different companies to date. This approach helps mitigate exploration risk while maintaining significant upside potential for shareholders. The company currently maintains a strong financial position with approximately C$11 million in working capital.

Looking ahead, Azimut has positioned itself to capitalize on both the battery metals boom and precious metals market through its diversified portfolio. The company's projects in Quebec, a mining-friendly jurisdiction, offer exposure to critical minerals needed for the global electrification trend, as well as traditional precious metals exploration.

Azimut's systematic approach to project generation, combined with its disciplined capital management and strong partnerships, has created a solid foundation for potential discovery success. With multiple active drill programs planned and a well-funded treasury, the company appears positioned to deliver significant exploration catalysts in the near term while maintaining its commitment to minimal share dilution.

Learn more: https://www.cruxinvestor.com/companies/azimut-exploration

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