What Azimut Exploration does

Azimut Exploration Inc. is a Canadian mineral exploration company headquartered in Longueuil, Quebec, listed on the TSX Venture Exchange (AZM) and OTCQX (AZMTF). Founded in the early 2000s, the company operates as a project generator focused on the discovery of gold, copper, nickel, lithium, antimony, and PGE deposits in Quebec's James Bay region and Nunavik. Its two flagship wholly-owned projects are the Elmer gold-copper property (34,660 Ha), which hosts the Patwon Gold Zone with 311,200 oz Au indicated and 513,900 oz Au inferred resources (November 2023 NI 43-101), and the Wabamisk gold-antimony property (35,480 Ha). Azimut also controls a broader critical-minerals portfolio including the JB Lithium (108,900 Ha), JB Nickel (154,900 Ha), Corvet, Rex-Duquet, and Rex South projects.

The company's core proprietary technology is AZtechMine™, a registered trademarked methodology that combines big data analytics with extensive field-validation expertise to identify and prioritize mineral exploration targets. This methodology has reportedly led to the discovery of four large-scale mineral systems and more than 500 mineral prospects. The company does not sell a software or consumer product; rather, it advances projects through systematic drilling, generates NI 43-101 compliant resource estimates, and monetizes through property sales, joint ventures, and option agreements with major mining companies such as KGHM International, SOQUEM, Rio Tinto, Centerra Gold, LiFT Power, Mont Royal, and Ophir Metals.

Azimut's revenue model is multi-stream but pre-production: it generates value through (i) one-time proceeds from selling or optioning exploration properties (e.g., the ~$13.4M Galinée Property sale to LiFT Power in February 2026), (ii) equity financings to fund ongoing exploration (multiple private placements and bought deals totaling tens of millions of CAD over its history), (iii) retained Net Smelter Return royalties on divested properties, and (iv) potential future production revenue should any deposit advance to mining. The company has two material strategic shareholders: Agnico Eagle Mines Limited (~12%) and Centerra Gold Inc. (~9.9%), and has received industry recognition including the AEMQ Discovery of the Year (2022) and Quebec Prospector of the Year (2024) awards.

Name

Azimut Exploration

Legal name

Azimut Exploration Inc.

Website

http://www.azimut-exploration.com/

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

11–50 employees

Short description

Azimut Exploration is a Canadian mineral exploration company that uses its proprietary AZtechMine™ big data analytics methodology to generate and advance gold, copper, nickel, and lithium projects in Quebec, monetizing through partnerships and royalties.

Ownership category

akta.pro rank

Product category

Mineral Exploration

NAICS

Gold Ore and Silver Ore Mining (21222), Other Metal Ore Mining (212290), Metal Ore Mining (2122)

SIC

Gold And Silver Ores (1040), Metal Mining (1000)

akta.pro primary industry

Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)

akta.pro secondary industries

Precious Metals Exploration & Project Development (IMAKAEAI), Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

Keywords

• Mineral exploration services
• Gold exploration
• Critical minerals exploration
• Nickel copper exploration
• Lithium exploration

Headquarters

HQ city

Longueuil

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Mineral Exploration and Discovery: Azimut Exploration is a pre-revenue mineral exploration company. The company discovers mineral deposits through systematic exploration and drilling programs. Revenue is generated through: (1) selling or optioning exploration properties to major mining companies, (2) retaining NSR royalties on properties sold, (3) private placement financings to fund exploration, and (4) potential future production revenues if deposits are advanced to mining stage.
2. Royalty Revenue (NSR): The company retains Net Smelter Return (NSR) royalties on properties sold to partners. For example, on the Galinée property transaction with LiFT Power, Azimut retained a 1.4% NSR royalty and is entitled to a $1,500,000 deferred payment. This provides ongoing revenue potential if the properties advance to production.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

Azimut Exploration is a mineral exploration company that identifies, acquires, and advances prospective gold, copper, nickel, lithium, and antimony properties in Quebec, Canada. It applies its proprietary AZtechMine™ big data analytics targeting methodology to generate drill-ready prospects, advances them through systematic drilling and resource delineation, and monetizes discoveries through joint ventures, property sales, and retained Net Smelter Return royalties with major mining companies. The company operates as a pre-revenue project generator, funding exploration through equity financings and partner-funded option agreements.

Product overview

Azimut Exploration is a mineral exploration company operating in Quebec, Canada. The company does not offer a software product in the traditional sense; rather, it operates as a project generator and explorer for minerals. Its core offerings consist of exploration projects and a proprietary targeting methodology called AZtechMine™. The company's project portfolio includes two flagship projects (Elmer gold-copper and Wabamisk gold-antimony), partnership projects (Kukamas nickel-PGE with KGHM, Northern Nickel Corridor with SOQUEM), and other generated targets across various commodities including gold, copper, nickel, lithium, and antimony.

Differentiator

Problem solved

Functional benefit

Products and services

• Elmer Project (Patwon Gold Zone) Azimut's flagship gold-copper exploration project covering 34,660 Ha in the James Bay region of Quebec. The Patwon Gold Zone hosts an initial NI 43-101 mineral resource estimate of 311,200 oz Au indicated and 513,900 oz Au inferred (825,100 oz Au total). The project is at advanced exploration stage with ongoing drilling to expand resources and a scoping study initiated in 2025.
• Wabamisk Property Wholly-owned gold-antimony exploration property covering 35,480 Ha in the Eeyou Istchee James Bay region of Quebec. Drilling targets the delineation of a large-scale mineralized system, with notable intersections including 46.41 g/t Au over 3.50 m at the Rosa Zone and 0.87% Sb over 12.5 m at the Fortin Zone.
• Kukamas Property (Option to KGHM International) Nickel-copper-PGE property covering 33,780 Ha in the James Bay region of Quebec, under option to KGHM International. KGHM has earned a 50% interest after funding over $5 million in work expenditures and entered a second option phase to earn an additional 20% interest by delivering a preliminary economic assessment. Notable intersections include 4.27% Ni with 2.63 g/t PGE over 8.6 m at the Perseus Zone.
• Northern Nickel Corridor (Strategic Alliance with SOQUEM) Strategic alliance with SOQUEM covering 27 claim blocks (1,635 claims) across a 360-kilometre by 60-kilometre area in the Eeyou Istchee James Bay region targeting nickel and critical metals. SOQUEM can earn up to 60% interest by incurring $11 million in cumulative exploration expenditures and $350,000 in cash payments over two option phases. Azimut operates during the first year with a high-resolution heliborne magnetic-electromagnetic survey planned for 2026.
• JB Nickel Project Regional-scale nickel exploration project spanning 154,900 Ha in the James Bay region of Quebec, at early stage - technical assessment. Targets nickel deposits using the AZtechMine™ methodology.
• JB Lithium Project Lithium exploration project covering 108,900 Ha in the James Bay region of Quebec, at early stage - technical assessment. Generated target developed through AZtechMine™ big data analytics.
• Pilipas Property (Joint Venture with Ophir Metals) Lithium and gold/copper exploration joint venture covering 7,100 Ha in the James Bay region of Quebec, partnered with Ophir Metals.
• Wabamisk East Property (Option to Rio Tinto) Lithium-focused property covering 10,850 Ha in the James Bay region of Quebec, under option agreement with Rio Tinto for lithium exploration activities.
• AZtechMine™ Proprietary Targeting Methodology Proprietary big data analytics targeting methodology combining predictive modeling with extensive field-validation expertise to identify mineral prospects. This trademarked expert system has led to the discovery of four large-scale mineral systems and more than 500 mineral prospects, and serves as the technological foundation for Azimut's project generation activities.

Quantifiable outcome

• 825,100 oz Au total mineral resources at Patwon Gold Zone (311,200 oz indicated + 513,900 oz inferred)
• +4 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Seven partnerships are on record, tiered flagship, core and active.

• SOQUEM Inc.flagshipStrategic or Co-development Partner · 19 May 2026Azimut signed a definitive agreement with SOQUEM Inc. to form a strategic alliance covering the Northern Nickel Corridor Project, comprising 27 claim blocks (1,635 claims) in the Eeyou Istchee James Bay region of Quebec, Canada. SOQUEM has the right to earn up to a 60% interest in the project by incurring $11 million in cumulative exploration expenditures and making $350,000 in cash payments over two option phases. Azimut will serve as operator during the first year, with a high-resolution heliborne magnetic-electromagnetic survey planned for 2026. The alliance aims to unlock nickel and other critical metals potential across a 360-kilometre by 60-kilometre area.
• KGHM International Ltd.coreStrategic or Co-development Partner · 26 February 2026KGHM International Ltd. has earned a 50% interest in the Kukamas Property after funding over $5 million in work expenditures and has elected to enter a second option phase to earn an additional 20% interest by delivering a preliminary economic assessment and incurring at least $4.2 million in expenditures over three years. Notable intersections include 4.27% Ni with 2.63 g/t PGE over 8.6 meters and 1.41% Ni with 0.85 g/t PGE over 15.25 meters.
• LiFT Power Ltd.coreStrategic or Co-development Partner · 18 February 2026LiFT Power Ltd. completed the acquisition of Azimut's 50% interest in the Galinée Property, located in the Eeyou Istchee James Bay region of Quebec. LiFT acquired Azimut's interest by issuing 2,000,000 common shares, granting a 1.4% NSR royalty and entitlement to a $1,500,000 deferred payment. Total transaction value amounts to approximately $13.4 million based on LiFT's share price. Azimut retains a 1.4% NSR royalty on the property.
• SOQUEM Inc. (Galinée Joint Venture)coreStrategic or Co-development Partner · 18 February 2026Azimut and SOQUEM Inc. had a 50/50 joint venture on the Galinée Property which was restructured. SOQUEM Inc. retains the remainder of the interest in the Galinée Property after Azimut sold its 50% stake to LiFT Power.
• Rio TintocoreStrategic or Co-development Partner · 9 October 2025Azimut and Rio Tinto expanded previous agreements to include lithium rights on the Wabamisk East Property in the James Bay Region of Quebec. Rio Tinto has an option agreement covering the property for lithium exploration activities.
• Mont RoyalactiveStrategic or Co-development PartnerAzimut has a joint venture option agreement with Mont Royal for the Wapatik Property in the James Bay Region of Quebec. The partnership includes nickel-copper exploration and gold targets along strike with the Elmer Gold Discovery.
• Ophir MetalsactiveStrategic or Co-development PartnerAzimut has a joint venture agreement with Ophir Metals for the Pilipas Property (7,100 Ha) covering lithium and gold/copper targets in the James Bay Region of Quebec.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Troilus Gold Corporation: Junior gold-copper explorer with a major advanced-stage project in Quebec's James Bay region. Comparable as a Quebec-focused gold explorer with significant resource base and active drilling programs.
• Wallbridge Mining Company: Quebec-focused gold and nickel explorer with properties in the James Bay region. Comparable as a junior explorer operating in the same jurisdiction and targeting similar commodities with both wholly-owned and JV-funded projects.
• Midland Exploration: Quebec-focused junior mineral exploration company with a project generator model similar to Azimut, partnering with majors (SOQUEM, Probe Metals, Rio Tinto) and exploring for gold, copper, nickel, and lithium in the James Bay and other Quebec regions.
• Probe Metals: Quebec-focused gold explorer with the Val-d'Or district project. Comparable as a Quebec gold exploration company using JV partnerships and project generator approaches.
• Brunswick Exploration: Quebec-focused critical minerals explorer with significant land positions in James Bay targeting lithium, copper, and other battery metals. Comparable as a junior Quebec-focused multi-commodity explorer with district-scale projects.
• Fury Gold Mines: Canadian-focused gold exploration company with assets in Quebec and Nunavut. Comparable as a junior gold explorer with Quebec exposure and JV-funded work programs.
• Kenorland Minerals: Canadian junior explorer using systematic, data-driven targeting and project generator approach. Comparable to Azimut through its methodology-led prospect generation and JV partnerships with major mining companies in Quebec and elsewhere.
• Dios Exploration: Quebec-focused junior exploration company targeting gold, copper, and critical minerals. Comparable as a small Quebec-based mineral explorer with multiple early-stage projects.

Others

• Agnico Eagle Mines: Major Canadian gold miner and significant strategic shareholder of Azimut (~12% stake). Operates multiple Quebec mines and exploration properties; relevant as both a partner/competitor for Quebec exploration ground and a key strategic investor.

Broad incumbents

• Osisko Mining: Larger Quebec-focused gold developer with the advanced Windfall project. Comparable as a Quebec gold exploration company, though at a more advanced stage with greater scale and capitalization than Azimut.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/AZM_Azimut
• LinkedInlinkedin.com/company/azimut-exploration

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries3 records

Funding overview

Funding rounds21 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Azimut Exploration