Mr. Jean-Marc Lulin reports

AZIMUT PROVIDES 2026 SUMMER EXPLORATION UPDATE

Azimut Exploration Inc. has provided an update on the company's comprehensive programs currently under way on four key projects in the Eeyou Istchee James Bay region of Quebec, Canada.

Azimut believes the 2026 field programs are among the company's most significant to date. The objectives are to:

1. Accelerate the delineation of the 30-kilometre-long gold exploration corridor on the Wabamisk property;
2. Test the lateral extension of the Patwon gold deposit on the Elmer property and assess extensive underexplored gold-copper targets located in close proximity;
3. Expand the Perseus high-grade nickel discovery on the Kukamas property;
4. Begin assessing regional nickel targets on the Northern nickel corridor project.

The company will hold a webinar today at 3 p.m. ET (12 p.m. PT) in French and at 4 p.m. ET (1 p.m. PT) in English. A short presentation by president and chief executive officer Jean-Marc Lulin will be followed by a Q&A (question-and-answer) session for interested investors and shareholders. Questions can also be submitted in advance at info@azimut-exploration.com.

Project updates

• Wabamisk is emerging as a 30-kilometre-long district-scale gold exploration play following the discovery of the Fortin zone (antimony-gold) in 2024 and the discovery of the Rosa zone (gold) in 2025. A major field program is under way to accelerate the assessment of this prospective corridor through extensive mechanical stripping, prospecting, soil sampling and ground geophysics (induced polarization: IP). Drilling has already outlined a minimum 1,400-metre east-west gold-bearing strike at Rosa. Mechanical stripping using two excavators is confirming the continuity of this zone, exposing the gold-bearing vein system over a minimum of 450 metres, with widths up to 10 metres. The extensive sampling program will help with the design of the drill program planned for this fall.
  • Since the discovery of the Fortin and Rosa zones, the company has drilled 159 core holes totalling 24,045 metres, returning very encouraging results (see press releases of May 20 and May 26, 2026). Additional robust gold targets, related to strong IP anomalies well correlated with pathfinder soil anomalies (arsenic and antimony), have been identified along a 12-kilometre-long segment between Rosa and Fortin, and these targets are now the subject of preliminary field assessment. Other attractive gold targets exist east of Fortin.
• Elmer encompasses two major underexplored gold-copper target areas: the K2 claim block, located 11 kilometres southwest and along strike from the Patwon gold deposit, and the Wolf-A21 trend, a seven-kilometre-long copper-zinc-gold-silver target. Both areas contain numerous high-grade showings but have seen only limited historical drilling. Fieldwork this summer will include mechanical stripping, geological mapping and extensive rock sampling to prepare for a drilling campaign.
  • The first phase of the planned 10,000-metre drilling program at the Patwon gold deposit (10 holes totalling 5,407 m) has been recently completed. It was designed to expand the mineralized body along strike (results pending). The 2023 mineral resource estimate (indicated resource of 311,200 ounces in 4.99 Mt (million tonnes) grading 1.93 g/t Au; inferred resource of 513,900 oz in 8.22 Mt grading 1.94 g/t Au) used a gold price of $1,800 (U.S.) per ounce. Current gold prices strongly support additional drilling to increase the resource base and, contingent on positive results, to advance the project toward an updated resource estimate and a preliminary economic assessment (see press release of Jan. 22, 2026).
• Kukamas hosts the high-grade nickel-PGE (platinum group element) Perseus zone, discovered in 2024. KGHM International Ltd. has now earned a 50-per-cent interest in the project and has entered the second option phase (see press release of Feb. 26, 2026). The continuing partner-financed program is primarily focused on expanding the Perseus zone through drilling. The field program is under way, and a detailed description of the planned work will be provided shortly.
• Northern nickel corridor (NNC) represents the northern part of a large project generated by Azimut using predictive mineral potential modelling to unlock the nickel potential of the James Bay region. SOQUEM recently entered a strategic alliance with Azimut covering the NNC project. The project comprises 27 claim blocks (1,635 claims covering 821.7 square kilometres) distributed across a region extending 360 kilometres east-west by 60 kilometres north-south (see press release of May 19, 2026). Preparatory tests are currently under way for the upcoming 6,591-line-kilometre high-resolution heliborne magnetic and electromagnetic survey.

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 the company. He is acting as Azimut'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 controls strategic land positions for gold, copper, nickel and lithium in Quebec. Azimut is focused on several key high-impact projects:

• Wabamisk and Wabamisk East (100 per cent Azimut), which host the Fortin zone (antimony-gold), Rosa zone (gold) and Lithos zone (lithium);
• Elmer (100 per cent Azimut), which hosts the resource-stage Patwon deposit (gold) (311,200 oz indicated and 513,900 oz inferred);
• Kukamas (KGHM option), which hosts the Perseus zone (nickel-PGE).

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 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.

We seek Safe Harbor.