# Azimut Exploration Partners With Centerra to Advance Corvet and Kaanaayaa Projects

- URL: https://stocks.freetheai.org/news/azimut-exploration-partners-with-centerra-to-advance-corvet-and-kaanaayaa-73e3c9
- Published: 2026-10-13T13:00:00Z
- Category: company_news; sentiment: neutral; impact: medium
- Symbols: [TSXV:AZM](https://stocks.freetheai.org/symbols/TSXV-AZM)
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Azimut Exploration Inc. (TSXV:AZM) has entered into an option agreement with Centerra, granting Centerra the option to earn up to a 70% interest in the Corvet and Kaanaayaa mining properties. To acquire the stake, Centerra must fund $16.0 million in exploration work, make up to $850,000 in cash payments, and complete a preliminary economic assessment outlining at least 1 million ounces of gold equivalent.

The deal brings non-dilutive exploration funding to Azimut, allowing project development without drawing on its existing cash. Azimut will retain operational management during Phase 1 of the program, maintaining strategic direction while receiving direct cash payments that bolster liquidity. Shares of Azimut Exploration were trading at 0.51 CAD, down 1.92% on the day.

Completion of the transaction remains subject to approval from the TSX Venture Exchange. Investors will be monitoring regulatory clearance along with initial field and till sampling results as early exploration efforts begin.

## Key points

- Centerra can earn up to a 70% stake in the Corvet and Kaanaayaa properties.
- The agreement requires Centerra to fund $16.0 million in exploration expenditures and pay up to $850,000 in cash.
- Centerra must deliver a preliminary economic assessment featuring at least 1 million ounces of gold equivalent.
- Azimut Exploration will manage Phase 1 operations, and the transaction is subject to TSX Venture Exchange approval.

## Questions and answers

### What are the terms of the deal between Azimut Exploration and Centerra?

Centerra can earn up to a 70% stake in the Corvet and Kaanaayaa properties by funding $16.0 million in exploration, paying up to $850,000 in cash, and delivering a preliminary economic assessment outlining at least 1 million ounces of gold equivalent.

### Who will operate the Corvet and Kaanaayaa properties?

Azimut Exploration will manage operations during Phase 1 of the program, maintaining early strategic control of exploration activities.

### Is the deal between Azimut Exploration and Centerra final?

The agreement is subject to regulatory approval from the TSX Venture Exchange before closing.