Azimut Completes Galinée Property Transaction with LiFT Power, James Bay Region, Quebec
MWN-AI** Summary
Azimut Exploration Inc. has recently finalized a significant transaction involving the Galinée Property located in Quebec's Eeyou Istchee James Bay region. On February 18, 2026, the company announced the completion of the sale of its 50% interest in the property to LiFT Power Ltd. for a total consideration of approximately $13.4 million. As part of the transaction, Azimut received 2,000,000 common shares of LiFT and was granted a 1.4% net smelter return (NSR) royalty on the Galinée Property. Additionally, Azimut is entitled to a deferred payment of $1.5 million, which can be settled in cash or shares, depending on certain conditions outlined in the acquisition agreement.
This strategic divestment aligns with Azimut’s focus on its flagship projects, including the Elmer and Wabamisk properties. The company’s ongoing efforts include substantial drilling programs, targeting a total of at least 17,000 meters in early 2026. These programs encompass the Fortin and Rosa Zones at Wabamisk, along with planned activities at Elmer.
Azimut remains a key player in the mineral exploration sector, with a diverse portfolio valued at around $15 million. The company's strategy involves targeting high-potential mineral regions, backed by a strong financial position and strategic investments from major shareholders like Agnico Eagle Mines Limited and Centerra Gold Inc. This transaction with LiFT not only enhances Azimut's capital position but also allows it to retain exposure to lithium production through the NSR royalty and solidifies its commitment to advancing its core exploration projects in Quebec.
MWN-AI** Analysis
Azimut Exploration Inc.'s recent transaction with LiFT Power Ltd. concerning the Galinée Property marks a significant strategic shift that could impact investor sentiment and potential returns. By selling its 50% interest and securing a 1.4% net smelter royalty (NSR), Azimut demonstrates a pragmatic approach to capital allocation. This NSR not only provides exposure to potential future developments but also supports the company's financial stability as it refocuses on flagship projects such as Elmer and Wabamisk.
The transaction values Azimut’s consideration at approximately $13.4 million, strengthening its balance sheet substantially. The $1.5 million deferred payment, the option to receive in LiFT shares, and the approximately $15 million worth of equity interests in various companies further underscore Azimut's favorable financial positioning. With strategic shareholders like Agnico Eagle Mines and Centerra Gold, Azimut is well-backed, enhancing its credibility in the market.
Analysts should consider Azimut's ongoing drill programs and resource assessments as indicators of future value. The sizable 17,000-meter drilling initiative across multiple properties—including the anticipated results from the Elmer project, which boasts a resource of over 825,000 ounces of gold—could position Azimut favorably in the competitive mining sector.
For investors, the acquisition of a royalty interest combined with an equity stake in a growing lithium exploration company like LiFT could provide a diversified exposure to the booming lithium market, critical for electric vehicle batteries and energy storage solutions.
In conclusion, Azimut's strategic transaction serves not only to bolster its immediate liquidity but also aligns with long-term growth prospects in the resource sector. As the company proceeds with rigorous exploration efforts, investors are advised to monitor developments closely, given the inherent volatility and risks associated with mineral exploration.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
LONGUEUIL, Quebec, Feb. 18, 2026 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. (“Azimut” or the “Company”) (TSXV: AZM) (OTCQX: AZMTF) announces the closing of the acquisition by LiFT Power Ltd. (“LiFT”) (TSXV: LIFT, OTCQX: LIFFF) of its 50% interest in the Galinée Property (the “Property”) located in the Eeyou Istchee James Bay region of Quebec.
Under the acquisition agreement (the “Agreement”) announced on December 24, 2025 (see news releasei), LiFT acquired Azimut’s interest by issuing 2,000,000 common shares. Azimut was also granted a 1.4% NSR royalty on the Property, providing some long-term exposure to future developments. In addition, Azimut is entitled to a $1,500,000 deferred payment, payable in cash, or, subject to certain terms and conditions set out in the Agreement, in common shares of LiFT, at the earlier of 18 months or the public disclosure of a technical report with respect to the Property that includes an economic analysis of one or more development scenarios. Based on the closing price of LiFT’s common shares on the TSX Venture Exchange (the “TSXV”) on February 17, 2026, the total consideration for Azimut in connection with this transaction amounts to $13,400,000.
Azimut now holds equity interests with a combined value of approximately $15 million in various companies. In addition, Azimut has generated royalty interests on three lithium properties located adjacent to development-stage assets, specifically a 2% NSR on the JBN-57 claim block and a 1% NSR on the Pikwa Property, both of which have been incorporated into PMET Resources’ Shaakichiuwaanaan project, and a 1.4% NSR on the Galinée Property, adjacent to Winsome Resources’ Adina project.
These transactions support Azimut’s strategy to focus on its flagship properties, Elmer and Wabamisk. The Company has announced significant drill programs totalling at least 17,000 metres for early 2026, including a program on the Fortin Zone (Wabamisk), which is nearing completion, the commencement of follow-up drilling on the Rosa Zone (Wabamisk), and an early March program at Elmer.
About LiFT
LiFT is a mineral exploration company engaged in the acquisition, exploration and development of lithium pegmatite projects in Canada. LiFT’s flagship project is the Yellowknife Lithium Project located in the Northwest Territories, Canada. LiFT also holds three early-stage exploration properties in Quebec, Canada, with excellent potential for the discovery of buried lithium pegmatites, as well as the Cali Project in the Northwest Territories within the Little Nahanni Pegmatite Group.
About Azimut
Azimut is a leading mineral company with a solid reputation for target generation and partnership development. The Company holds the largest portfolio of mineral projects in Quebec, controlling strategic land positions for gold, copper, nickel and lithium. Azimut conducts advanced exploration on several high-potential properties:
- Wabamisk (100% Azimut) – Fortin Zone (antimony-gold), drilling phase underway; Rosa Zone (gold): initial phase of drilling completed, second drilling program underway.
- Wabamisk East (100% Azimut) – Lithos North & South (lithium): initial phase of drilling completed, assays pending.
- Elmer (100% Azimut) – Patwon gold deposit at the resource stage (311,200 oz Indicated and 513,900 oz Inferredii); 10,000 m drilling program in preparation.
- Kukamas (KGHM option) – Perseus Zone (nickel-copper-PGE): drilling phase completed; assays pending.
Azimut uses a pioneering approach to big data analytics (the proprietary AZtechMine™ expert system), enhanced by extensive exploration know-how. The Company’s competitive edge is based on systematic regional-scale data analysis. Azimut maintains rigorous financial discipline and a strong balance sheet.
Azimut has two strategic investors among its shareholders, Agnico Eagle Mines Limited and Centerra Gold Inc., which hold approximately 11% and 9.9%, respectively, of the Company’s issued and outstanding shares.
Contact and Information
Jean-Marc Lulin, President and CEO
Tel.: (450) 646-3015 – Fax: (450) 646-3045
Jonathan Rosset, Vice President Corporate Development
Tel.: (604) 202-7531
info@azimut-exploration.com www.azimut-exploration.com
Cautionary note regarding forward-looking statements
This press release contains forward-looking statements, which reflect the Company’s current expectations regarding future events related to the Galinée Property. To the extent that any statements in this press release contain information that is not historical, the statements are essentially forward-looking and are often identified by words such as “consider”, “anticipate”, “expect”, “estimate”, “intend”, “project”, “plan”, “potential”, “suggest” and “believe”. The forward-looking statements involve risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Many factors could cause such differences, particularly volatility and sensitivity to market metal prices, the impact of changes in foreign currency exchange rates and interest rates, imprecision in reserve estimates, recoveries of gold and other metals, environmental risks including increased regulatory burdens, unexpected geological conditions, adverse mining conditions, community and non-governmental organization actions, changes in government regulations and policies, including laws and policies, global outbreaks of infectious diseases and failure to obtain necessary permits and approvals from government authorities, as well as other development and operating risks. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this document. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, other than as required to do so by applicable securities laws. The reader is directed to carefully review the detailed risk discussion in our most recent Annual Report filed on SEDAR+ for a fuller understanding of the risks and uncertainties that affect the Company’s business.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
i Azimut agrees to sell its interest in the Galinée Property to LiFT Power, James Bay Region, Quebec
ii Technical Report and Initial Mineral Resource Estimate for the Patwon Deposit, Elmer Property, Québec, Canada, prepared by Martin Perron, P.Eng., Chafana Hamed Sako, P.Geo., Vincent Nadeau-Benoit, P.Geo. and Simon Boudreau, P.Eng. of InnovExplo Inc., dated January 4, 2024. The initial MRE comprises Indicated resources of 311,200 ounces in 4.99 million tonnes grading 1.93 g/t Au and Inferred resources of 513,900 ounces in 8.22 million tonnes grading 1.94 g/t Au.
FAQ**
How does Azimut Exploration's recent deal with LiFT Power Ltd Com LIFFF impact its overall financial strategy and investment focus in the mineral exploration sector?
What are the potential implications for Azimut’s valuation and future growth after securing a 1.4% NSR royalty from LiFT Power Ltd Com LIFFF on the Galinée Property?
Considering the current market conditions, how might the performance of LiFT Power Ltd Com LIFFF affect Azimut's deferred payment and its overall portfolio value?
How does Azimut's collaboration with LiFT Power Ltd Com LIFFF align with its long-term strategy to develop its flagship properties, like Elmer and Wabamisk?
**MWN-AI FAQ is based on asking OpenAI questions about Azimut Exploration Inc. (TSXVC: AZM:CC).
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