Mr. Jean-Marc Lulin reports

AZIMUT DRILLS HIGH-GRADE LITHIUM PEGMATITES AT WABAMISK EAST

Azimut Exploration Inc. has released the results from the maiden diamond drilling campaign conducted in late 2025 on its Wabamisk East property over the Lithos pegmatite field in the Eeyou Istchee James Bay region of Quebec, Canada.

This short drilling phase (five holes for 650 metres) confirms the significant lithium potential of the property already recognized through extensive prospecting, mechanical stripping and channel sampling programs.

The property displays a high-grade, multikilometre-scale spodumene pegmatite field over two main areas: Lithos North and Lithos South. At least 138 distinct spodumene-bearing outcrops have been identified, with 340 channel and grab samples returning grades higher than 0.5 per cent Li2O (lithium oxide), with an average grade of 1.94 per cent Li2O (see press release of Dec. 23, 2025). Grab samples are selective by nature, unlikely to represent average grades and may not represent true underlying mineralization.

The Lithos North pegmatite field, the largest zone identified to date on the property, comprises an en echelon array of pegmatite bodies defining a 1.2-kilometre-long corridor. Among the significant lithium deposits known in the James Bay region, the Galaxy deposit (Rio Tinto), located 125 kilometres west of the property, appears to be the closest geometric analogue, characterized by a comparable en echelon arrangement of stacked pegmatite bodies.

While lithium remains an important attribute of the property, the 2026 exploration program will focus on advancing several well-defined gold targets in the immediate vicinity. These targets are associated with strong arsenic soil anomalies within the same regional anomalous trend identified on the adjacent Wabamisk property. On Wabamisk, the Rosa zone (gold) and Fortin zone (antimony-gold) occur along this arsenic trend (see press releases dated May 20, 2026, and May 26, 2026).

Highlights

• All five drill holes intersected high-grade lithium pegmatite.
• Best results include:
  • Hole WL25-01 1.87 per cent Li2O over 36.30 metres from 41.0 m to 77.3 m;
  • Hole WL25-02 1.18 per cent Li2O over 7.40 m from 11.7 m to 19.1 m;
  • 1.47 per cent Li2O over 11.75 m from 29.55 m to 41.3 m;
  • 2.20 per cent Li2O over 23.05 m from 52.35 m to 75.4 m, including:
    • 3.40 per cent Li2O over 4.45 m from 61.2 m to 65.65 m.
  • Hole WL25-03 1.25 per cent Li2O over 6.45 m from 43.85 m to 50.3 m;
  • Hole WL25-04 1.28 per cent Li2O over 14.60 m from 21.2 m to 35.8 m;
  • Hole WL25-05 1.46 per cent Li2O over 5.45 m from 49.65 m to 55.1 m.
• Lithium grades and drill intercept thicknesses are consistent with surface exploration results from grab and channel sampling.
• The pegmatite bodies display large crystal sizes (two to 25 centimetres).

Lithos North

At Lithos North, the pegmatites form an en echelon field of intrusive bodies extending over a 1.2-kilometre strike length within an east-west-trending corridor at least 250 metres wide. The corridor remains open in all directions. Other orientations and dips have been observed, including possibly stacked shallow-dipping east-west-striking pegmatites which may be connected to north-south bodies.

Four holes were drilled at Lithos North. The first two (WL25-01 and WL25-02) targeted the largest outcrop and intersected, respectively, two and three individual pegmatite bodies, with consistent grade distributions. These holes have delivered the best grades and thicknesses so far.

Hole WL25-04 intersected at least five distinct spodumene pegmatites. The first and shallowest (starting at a depth of 20.5 m along the hole) exhibits local magmatic fabric at its margins. This body corresponds to an outcropping pegmatite located 20 m west, thus indicating a dip of 80 degrees east. Other bodies intersected along this hole may correspond to some of the outcropping pegmatites. A preliminary geometric interpretation suggests steeply dipping stacked bodies with a NW-SE (northwest-southeast) orientation.

Lithos South

Lithos South is located about two kilometres south of Lithos North. The single hole (WL25-05) drilled in this area intersected a pegmatite body with a down-hole width of 5.45 metres, grading 1.46 per cent Li2O. This pegmatite is interpreted as subvertical and oriented northwest-southeast.

Other undrilled lithium targets

Exploration work conducted on the property in 2024 and 2025 highlighted four areas hosting well-mineralized lithium pegmatites (see press releases of Oct. 9, 2025, and Dec. 23, 2025).

Several high-grade outcropping showings remain untested by drilling, including:

• Benny, which returned 1.34 per cent Li2O over 4.0 m in a channel and up to 3.00 per cent Li2O in grab samples. This pegmatite contains exceptionally large spodumene crystals, up to 70 centimetres long.
• Jumbo, which returned 2.53 per cent Li2O over 7.0 m and 2.12 per cent Li2O over 6.0 m (channel samples).
• Whale, which returned 1.42 per cent Li2O over 6.85 m, 1.37 per cent Li2O over 4.0 m and 1.19 per cent Li2O over 8.0 m (channel samples).
• Yo-Yo, which returned numerous high-grade lithium values, including up to 5.29 per cent Li2O in grab samples.

Additional drilling is warranted along the Lithos North corridor and at Lithos South, where only some of the known pegmatite outcrops have been drill tested. The grab and channel sampling programs conducted across the property, together with the results of this maiden drilling program, indicate the presence of a lithium pegmatite field extending over a prospective area of four square kilometres, with good potential for additional discoveries.

Wabamisk East property

The Wabamisk East property (205 claims, 108.5 square km) is a wholly owned Azimut project. The property lies 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 municipality 55 kilometres to the southwest.

The drilling program was fully financed by Rio Tinto Exploration Canada Inc., with Azimut acting as the operator. As a result in changes in corporate strategies, Rio Tinto has terminated its option on the property on Dec. 31, 2025.

Drilling contract, analytical protocols and project management

Nouchimi-RJLL Drilling Inc. of Rouyn-Noranda, Que., conducted the drilling program using NQ core diameter. Sawed half-core drill samples were sent to ALS Laboratories in Val d'Or or Montreal (Quebec) for ICP multielement analysis (laboratory codes: ME-MS61, ME-MS89L). Azimut applies industry-standard QA/QC (quality assurance/quality control) procedures to its sampling programs. Lithium intervals announced in this press release were calculated using a lower cut-off of 0.2 per cent Li2O and only include mineralized pegmatite. Dilution with host rock or pegmatite under the cut-off were kept under 20 per cent of the total interval.

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 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 ounces indicated and 513,900 oz inferred);
• Kukamas (KGHM option), which hosts the Perseus zone (nickel-platinum group element).

An update on the currently active exploration programs was provided in the press release dated June 30, 2026 .

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.