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. has signed a non-binding letter of intent to restructure its joint venture with SOQUEM, selling a 75% interest in the Galinée Property to LiFT Power Ltd, while retaining a 1.4% NSR royalty and a deferred payment of $1.5 million [1][3][5]. Group 1: Transaction Details - Azimut will acquire 2,000,000 shares from LiFT for a 50% interest in the Galinée Property, while SOQUEM will receive 1,000,000 shares for a 25% interest [3]. - The Galinée Property consists of 649 claims over 335 km and is located in an emerging lithium district, adjacent to the Adina property owned by Winsome Resources [4]. - The transaction is subject to customary closing conditions and requires approval from the TSXV [5]. Group 2: Strategic Implications - The consolidation of the Galinée and Adina properties will allow LiFT to enhance its property package, facilitating further development without boundary constraints [2]. - Azimut aims to focus on its flagship assets while maintaining exposure to lithium districts through equity ownership and retained royalties [2]. Group 3: Technical Information - The Galinée Property has shown high-grade lithium mineralization, with notable drill results including 1.62% Li₂O over 158.0m and 2.68% Li₂O over 54.6m [4]. - Additional exploration targets have been identified on the property, indicating potential for further resource development [4].