Mr. Jean-Marc Lulin reports

AZIMUT DISCOVERS NEW HIGH-GRADE GOLD ZONE AT WABAMISK, JAMES BAY REGION, QUÉBEC, CANADA

A significant gold-bearing zone (the Rosa zone) has been discovered by prospecting on Azimut Exploration Inc.'s wholly owned Wabamisk property in the Eeyou Istchee James Bay region of Quebec, Canada.

The Rosa zone is characterized by multiple high-grade gold results coupled with impressive occurrences of visible gold. These results have fast-tracked the transition of this target to the drilling stage, which is planned for this fall. The zone is located about 15 kilometres west of the Fortin zone, a major antimony-gold target where a systematic 10,000-metre drilling program is under way.

The Wabamisk property is highly prospective with several exploration successes announced by Azimut since it regained full control of the project after 17 years of operatorship by a former partner. Since 2024, Azimut has made three substantial field discoveries on the project, all actively being advanced:

• Fortin zone (antimony-gold);
• Lithos North and South (lithium pegmatitic field), now part of the Wabamisk East property, recently optioned to Rio Tinto;
• Rosa zone (gold), the discovery announced today.

Rosa zone -- preliminary description

• Mineralization and alteration:
  • Sheared quartz vein system with disseminated sulphides (pyrite, pyrrhotite, chalcopyrite) in small amounts, generally less than 2 per cent, in veins and altered host rocks, locally displaying brecciated textures.
  • Visible gold, including very coarse gold, associated with quartz veins, observed at more than 10 locations over 200 metres along the western part of the zone.
  • Twenty-nine grab and channel samples with grades above 1.0 g/t Au, including 14 samples above 5.0 g/t Au (up to 42.0 g/t Au). Grab samples are selective by nature, unlikely to represent average grades, and may not represent true underlying mineralization.
  • Alteration characterized by tourmaline and chlorite, mostly bordering the quartz veins.
• Geometry:
  • Outlined over a 700-metre east-west strike, supported by field and magnetic data, with consistent high-grade gold results over 300 metres; open in all directions.
  • Veined shear zone indicates Rosa is at least five to 10 metres thick; widths not yet fully defined.
  • Steep dip to the south.
  • Preliminary definition of a second subparallel gold-bearing trend striking 250 metres, roughly 50 metres south of Rosa.
• Geological context
  • Archean greenstone belt of the volcano-plutonic La Grande subprovince, close to the tectono-metamorphic boundary with the metasedimentary Opinaca subprovince.
  • Shear-hosted quartz vein system (shear veins and extensional veins) hosted in felsic volcanic tuffs.

Follow-up program prior to drilling

• A total of 217 rock samples collected from Rosa (198 grabs and 19 sawed channel samples totalling 18.5 metres), including 53 samples (43 grabs, 10 channels) for which results are pending.
• A total of 253 soil samples (B Horizon) collected from an area measuring 1,800 metres by 350 metres, for which results are pending.
• Reprocessing of a very high-resolution heliborne magnetic survey covering the zone (in progress).
• Induced polarization survey covering the zone (TMC Geophysics of Val d'Or, Que.) using a dipole-dipole array with readings every 25 metres (n equals one to eight) (in progress).
• Mechanical stripping of regularly spaced trenches to further define the zone's geometry (scheduled for early fall).

Other targets in the vicinity

Azimut is conducting two other extensive exploration programs on substantial targets in the vicinity:

• Diamond drilling is advancing as planned on the antimony-gold Fortin zone also located on the property (see press release of July 9, 2025). Since July, 32 additional holes (5,057 metres) have been drilled (total of 83 core holes for 11,453 metres) to systematically assess the 1.5-kilometre-long mineralized sill and its surroundings. Results are pending and will be reported as soon as they are received. The best results for Fortin include:
  • 1.10 per cent Sb (antimony) over 51.5 m, including 3.43 per cent Sb, 2.37 g/t Au (gold) over 6.50 m (hole WS25-40);
  • 1.08 per cent Sb, 0.53 g/t Au over 22.7 m, including 1.74 per cent Sb, 1.15 g/t Au over 9.5 m (hole WS24-06);
  • 2.08 per cent Sb, 2.64 g/t Au over 17.0 m, including 3.15 per cent Sb, 10.92 g/t Au over 4.0 m (channel WR25-01).
• A comprehensive mapping campaign for lithium is under way on the Wabamisk East property (adjacent to Wabamisk) following the signing of a revised agreement with Rio Tinto Exploration Canada. A remaining firm commitment of approximately $1.15-million will be incurred before the end of 2025, plus potential expenditures of $3-million to aggressively assess the lithium potential on the project, notably through significant drilling (see press release of July 24, 2025).

About the Wabamisk property

Wabamisk is a wholly owned project comprising 673 claims covering 356 square kilometres. The property now includes the 118 claims (62.5 square km) of the former Chromaska property, which has been integrated into the project. The adjacent Wabamisk East property (205 claims, 108.5 square km) has been optioned to Rio Tinto for its lithium potential. Together, the Wabamisk and Wabamisk East projects provide a strategic 51-kilometre strike position on one of the most prospective belts in the James Bay region.

Wabamisk lies 13 kilometres east of the Clearwater property (Fury Gold Mines Ltd.), 42 kilometres northeast of the Whabouchi lithium deposit (Rio Tinto-Nemaska Lithium), and 70 kilometres south of the Eleonore gold mine (Dhilmar Ltd.). Major powerlines pass through or close to the property's eastern end and the North Road highway passes 37 kilometres to the south. The nearest town is Nemaska, a Cree village municipality 55 kilometres to the southwest.

Analytical protocols and project management

The samples are sent to ALS Laboratories in Val d'Or or Montreal (Quebec), where gold is analyzed by fire assay, with atomic absorption and gravimetric finishes for grades above 3.0 g/t Au. Samples are also analyzed for a 48-element suite using ICP. Antimony is also analyzed using four-acid digestion and ICP-AES (Sb-ICP08). Azimut applies industry-standard QA/QC (quality assurance/quality control) procedures to its drilling and prospecting programs. All batches sent for analysis include certified reference materials, blanks and field duplicates.

The project is under the direction of Alain Cayer (PGeo), Azimut's project manager.

Qualified person

Dr. Jean-Marc Lulin (PGeo), Azimut's president and chief executive officer, prepared this press release and approved the scientific and technical information disclosed herein, including the previously reported results presented by Azimut in the figures supporting this press release. He is acting as the company's qualified person within the meaning of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Azimut Exploration Inc.

Azimut is a leading mineral exploration company with a solid reputation for target generation and partnership development. The company holds the largest mineral exploration portfolio in Quebec, controlling strategic land positions for gold, copper, nickel and lithium.

The company's wholly owned flagship project, the Elmer gold project, is at the resource stage (311,200 ounces indicated and 513,900 oz inferred using a gold price of $1,800 (U.S.) per ounce) and has a strong exploration upside. Significant exploration activities are under way on the Wabamisk (antimony-gold), Wabamisk East (lithium) and Kukamas (nickel-copper-platinum group element) projects. Azimut also holds an important position in an emerging district with its Galinee lithium discovery, a joint venture project with Soquem.

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 counts among its shareholders two strategic investors, Agnico Eagle Mines Ltd. and Centerra Gold Inc., which hold approximately 11 per cent and 9.9 per cent, respectively, of the company's issued and outstanding shares.

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