Azimut and KGHM to Undertake a Maiden Drilling Program on the Kukamas Property, James Bay Region, Quebec

Core Viewpoint - Azimut Exploration Inc. is set to commence a 2,000-metre diamond drilling program in November on the Kukamas Property in Quebec, focusing on high-grade nickel and associated metals [1][3]. Drilling Program Details - The drilling program aims to test several quality targets identified through geophysical, geochemical, and prospecting work conducted since 2023 [2]. - The primary focus will be on the Perseus Zone, which has shown promising results for nickel, copper, and platinum group elements (PGE) [3]. - Significant channel sampling results from the Perseus Zone include: - 2.98% Ni, 0.32% Cu, 2.25 g/t PGE over 8.0 m, with a peak of 3.74% Ni, 0.41% Cu, and 2.82 g/t PGE over 6.0 m - 1.10% Ni, 0.15% Cu, 1.02 g/t PGE over 9.0 m, with a peak of 1.42% Ni, 0.19% Cu, and 1.36 g/t PGE over 6.0 m - Up to 9.35% Ni, 3.04% Cu, 3.78 g/t Pt, and 8.99 g/t Pd from various rock samples [3]. Additional Targets - Another target, the Halley showing, located 3.8 kilometres south of Perseus, has returned up to 1.36% Ni, 0.12% Cu, and 0.89 g/t PGE [4]. Contractual and Technical Aspects - Chibougamau Diamond Drilling Ltd has been contracted to conduct the drilling using a BTW core diameter [5]. - A 20.7-line-kilometre DeepEM ground survey was completed over the Perseus Zone, with additional ground magnetics conducted [6]. - Rock samples are analyzed at ALS Laboratories, employing various methods for a comprehensive suite of elements [7]. Property Overview - The Kukamas Property spans 272.5 km² with a cumulative strike length of 41 kilometres, featuring significant infrastructure such as high-voltage power lines and access roads [8]. Company Background - Azimut is recognized for its mineral exploration capabilities, holding the largest exploration portfolio in Quebec, with a focus on copper-gold, nickel, and lithium [11]. - The company employs a proprietary big data analytics system, AZtechMine™, to enhance exploration efforts [12]. Partnership and Financial Aspects - Under an option agreement, KGHM International can acquire an initial 50% interest in the Kukamas Property by funding $5.0 million in work expenditures over four years, with a potential additional 20% interest under specific conditions [10].