02:09 PM EDT, 07/03/2025 (MT Newswires) -- Azimut Exploration ( AZMTF ) on Thursday said it is acquiring the K2 property in Quebec from Dios Exploration ( DIOSF ) for a cash payment of $120,000 and 200,000 shares.

Dios will retain a 2% net smelter returns royalty on the K2 claims, of which half may be bought down for $3 million.

The acquisition enables Azimut to consolidate its position along the Lower Eastmain Archean greenstone belt, where it has defined an initial gold resource on the Patwon Zone. The K2 block includes 25 gold and copper-gold-silver prospects and extends the Elmer Property by an additional seven kilometers of strike length, a statement said.

Azimut was last seen up $0.01 to $0.62 on the TSX Venture Exchange.

Price: 0.62, Change: +0.01, Percent Change: +1.64