Azimut and SOQUEM to Participate in LiFT Power's Consolidation of the Galinée-Adina Lithium District in the James Bay Region of Quebec

Core Viewpoint - Azimut Exploration Inc. and SOQUEM Inc. have signed a non-binding letter of intent to restructure their joint venture on the Galinée Property by selling a total of 75% interest in the Property to LiFT Power Ltd, which aligns with Azimut's strategy to focus on flagship assets while retaining exposure to lithium districts through equity ownerships and royalties [1][2]. Group 1: Transaction Details - LiFT will acquire a 50% interest in the Galinée Property from Azimut by issuing 2,000,000 shares and an additional 25% interest from SOQUEM by issuing 1,000,000 shares [3]. - Azimut will retain a 1.4% NSR royalty on the Galinée Property and is entitled to a deferred payment of $1,500,000, payable in cash or shares, contingent on the completion of a preliminary economic study or within 18 months [3]. Group 2: Property Overview - The Galinée Property consists of 649 claims covering an area of 335 km² and is located in an emerging lithium district, approximately 50 kilometers from the Renard diamond mine [4]. - High-grade mineralization has been identified in the northern part of the Galinée Property, with notable drill results including 1.62% Li₂O over 158.0m, 2.48% Li₂O over 72.7m, and 2.68% Li₂O over 54.6m [4]. Group 3: Company Background - Azimut is recognized for its extensive mineral exploration portfolio in Quebec, focusing on strategic land positions for various minerals including lithium [10]. - The company employs a pioneering approach using big data analytics for target generation and maintains a strong financial position with strategic investors holding significant shares [10][11].