Azimut, SOQUEM Northern Nickel Corridor Alliance

Azimut Exploration and SOQUEM Inc. have signed a non-binding letter of intent to form a regional-scale strategic alliance for the Northern Nickel Corridor Project in the Eeyou Istchee James Bay region of Canada — Quebec, Canada. This alliance aims to unlock the nickel potential of a vast, largely underexplored region, also including other strategic metals like Impala Platinum, Palladium, Copper, and Cobalt. Under the terms, SOQUEM will have the right to earn up to a 60% interest in the project by incurring $11,000,000 in exploration expenditures and making cash payments totalling $350,000. Azimut Exploration will operate the project during the first year, with SOQUEM taking over thereafter. The project builds on Azimut Exploration's previous exploration work and high-grade nickel discoveries in the region.