Azimut Exploration Inc.

Kaanaayaa

Region

James Bay

Size

21,600 Ha

Metals

Cu-Au, Cu-Ni

Target Style

Shear-related Cu-Au systems / Pegmatite-hosted lithium

Stage

Early Stage - Technical Assessment

Operator

AZM

Ownership

100% Azimut

2026 Planned Program

Data processing

Introduction

The Kaanaayaa property is 35 km south of the Trans Taiga Road, a nearly 600-km-long gravel highway running east-west through the James Bay region, and a powerline next to the highway, and 42 km south of the LG-4 airport. It is located east of the Corvet property. Kaanaayaa is attractive for its large-scale multi-element footprint and several Li-Cs anomalies in lake-bottom sediments. Its significant lithium exploration potential is supported by data analysis and its strategic location relative to the emerging Corvette (Patriot Battery Metals) lithium district, and the property’s favourable geology marked by metasediments and mafic to intermediate volcanics cut by several small but potentially fertile granitic intrusions. In addition, an adjacent property, jointly held by Osisko Exploration James Bay Inc. and Newmont Corporation, hosts several significant gold prospects.

In July 2023, Azimut announced the signing of two option to joint venture agreements with Rio Tinto Exploration Canada Inc ("Rio Tinto"). In July 2025, it announced that it revised these agreements (the "Revised Agreement") to consolidate the previous agreements and to cover three properties – Corvet, Kaanaayaa and Wabamisk East (together the “CKW Properties”). The agreement was terminated at the end of year 2025.

Azimut acquired the Kaanaayaa property after identifying a large-scale multi-element (Bi-Ag-Mo-Cu-W) footprint in lake-bottom sediments during its technology-driven (AZTechMine™) mineral potential assessment of the James Bay region. The regional lake-bottom sediment data included values up to 84.3 ppm Cu, 0.36 ppm Ag, 1.51 ppm Bi, 15.2 ppm Mo, 75.8 ppm Ni and 51.9 ppm Co. The anomaly coincides with favourable geology marked by metasediments and mafic to intermediate volcanics cut by several small but potentially fertile granitic intrusions.

Several coincidental Li-Cs-Rb-Ga anomalies have also been identified from detailed multi-element lake sediment surveys. Prospecting work completed in 2024 (204 grab samples from outcrops, 13 from boulders) identified highly differentiated pegmatite bodies. (press release dated September 9, 2024)

The Kaanaayaa property has favourable geology marked by metasediments and mafic to intermediate volcanics crosscut by several small granitic intrusions. A multi-kilometre fold may control the location of some of these intrusions, and the polymetallic lake-bottom sediment footprint combining bismuth, silver, molybdenum, copper and tungsten suggests they are fertile.

Kaanaayaa is located in the southern part of the La Grande Subprovince (Archean Superior Province). The volcano-sedimentary sequences on the property are bounded by the Archean Langelier Complex to the north and the Neoarchean Semonville Pluton suite to the south. Portions of the Vieux Comptoir granite, located southeast of the property, are found within the sequence. The volcano-sedimentary belts comprise:

The Rouget Formation: a greenstone belt occupying most of the northern part of the property, extending to the east and west. The rocks are generally mafic and amphibolitized. A series of intrusions along the belt varies in composition from felsic to ultramafic. Sedimentary sequences often contain thin iron formations.
The Marbot Formation: a sigmoidal metasedimentary belt in the centre of the property composed primarily of paragneiss derived from wackes and less metamorphosed rocks (conglomerates and wackes).