Azimut and Centerra Sign Option Agreement for the Corvet and Kaanaayaa Properties
Key Highlights
- ➤Centerra can earn 51% by funding $6 million exploration and paying $250,000
- ➤Centerra can reach 70% after $10 million additional spending and 1 Moz AuEq PEA
- ➤Corvet and Kaanaayaa properties cover 556.3 km² across 1,082 Quebec claims
- ➤Initial till sampling program begins mid-October across both properties
- ➤Centerra owns 12.67% of Azimut, making the transaction a related-party deal
Expert Statements
Jean-Marc Lulin, President and CEO of Azimut Exploration
“By securing partner-funded exploration on the Corvet and Kaanaayaa Properties, Azimut enhances the value of its exploration portfolio and maintains an exposure to potential discoveries.”
LONGUEUIL, Quebec, Oct. 13, 2026 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. (“Azimut” or the “Company”) (TSXV:AZM) (OTCQX:AZMTF) is pleased to announce that it has signed a definitive option agreement (the “Agreement”) with a wholly owned subsidiary of Centerra Gold Inc. (“Centerra”) for the Corvet and Kaanaayaa properties (the “Properties”) in the Eeyou Istchee James Bay region of Quebec, Canada (see Figures 1 and 2).
The Properties were staked for their gold-copper potential based on prominent multi-element lake-bottom sediment anomalies. An initial systematic till sampling program is scheduled to start mid-October on both Properties. This first program will lead to a field validation phase to be initiated next spring.
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