LONGUEUIL, Quebec, Oct. 26, 2026 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. (“Azimut” or the “Company”) (TSXV: AZM) (OTCQX: AZMTF) is pleased to provide an update on its ongoing exploration program at the wholly owned Wabamisk Property in the Eeyou Istchee James Bay region of Québec (see Figures 1 to 4).
Salient Facts
- A 3-kilometre by 5-kilometre gold-bearing vein field has been recognized over the Rosa-Dome Sector. The area is largely untested by drilling.
- A new gold showing (“Ginger”) highlights the excellent exploration potential over the 15-kilometre distance separating the Rosa and Fortin zones.
- Extensive surface field work continues to prepare a minimum 7,000-metre diamond drilling program, planned to start later this year. Since June 2026, 8 significant gold showings have been discovered through prospecting and mechanical stripping. Over the past several weeks alone, at least 9 new mineralized outcrops have been found in the Dome Sector (results pending).
This year's field program has significantly expanded the scale of the gold potential at Wabamisk. In particular, the Rosa-Dome Sector appears to be part of a multi-kilometre gold-bearing vein field characterized by:
- An extensive quartz vein system, which returned numerous high-grade gold results.
- Widespread tourmaline and iron carbonate (ankerite) alteration.
- Sulphide mineralization (mostly arsenopyrite, pyrite, pyrrhotite).
- A network of subparallel major structures.
- A variety of host rock types, dominated by sheared mafic volcanics and/or gabbro, and metasediments.
- Continuous trends of induced polarization (“IP”) anomalies.
The Rosa-Dome Vein Field (see Figures 5 to 7, Photos 1 to 7)
This vein field currently consists of five (5) distinct mineralized zones sharing common features, as summarized in the table below. Their cumulative length reaches at least 5.4 kilometres. The geological framework and limited drilling to date suggest these zones can be significantly extended along strike and at depth. The potential for additional discoveries in this area is considered very high, supported by new prospecting results, soil and/or till surveys, and a new geophysical IP survey in progress.
The multi-kilometre width and the greenschist metamorphic context of the Rosa-Dome structural corridor underscore a potential for kilometre-scale vertical continuity. It appears to be part of a much broader system that extends at least to the Fortin Zone, 15 kilometres further to the east, and likely over a 30-kilometre strike length. This corridor roughly corresponds to the major tectonic boundary between the La Grande volcano-plutonic subprovince and the Opinaca metasedimentary subprovince.
The Rosa-Dome sector displays several key features that characterize the Val-d’Or vein field in Québec, spatially located near or directly associated with a fault network marking the transition between the Abitibi volcano-plutonic subprovince and the Pontiac metasedimentary subprovince The Val-d’Or district is broadly characterized by gold-bearing quartz veins mostly hosted in sheared mafic to intermediate volcanic rocks and intrusions. These veins and their wallrocks contain arsenopyrite and/or pyrite sulphides, with tourmaline and iron carbonate as the dominant alteration assemblage.
New Gold Showing between Rosa and Fortin (see Figure 8, Photo 8)
A new gold showing (the Ginger Showing), recently uncovered by prospecting, underscores the discovery potential between the Rosa-Dome sector and the Fortin Zone. Preliminary results include up to 3.71 g/t Au in grab samples and 1.40 g/t Au over 2.0 m in a channel sample. Apparent mineralized thickness reaches about 10 metres.
Mineralization consists of disseminated to semi-massive arsenopyrite hosted in metasedimentary rocks with quartz veining. Albitic alteration has been observed, indicating possible strike continuity with the antimony-gold Fortin Zone, which is associated with a thick albitic unit (see press release of May 20, 2026i). Additional work, including mechanical stripping, is underway to expand the showing, which remains open in all directions. The Ginger Showing correlates well with a 5-kilometre-long IP anomaly and a strong arsenic-antimony anomaly in soil.
Grab samples are selective by nature, unlikely to represent average grades, and may not represent true underlying mineralization.
Overview of the 2026 Field Program (see Figure 9)
- Soil geochemistry: 5,517 samples collected; results pending for 3,573 samples.
- Rock geochemistry: 1 355 grab and channel samples collected; results pending for 249 samples. Active prospecting phase still in progress.
- Till survey: collection of 102 samples underway, mainly in the Dome Sector.
- IP survey: 144 line-kilometres in progress, mainly over the Dome Sector.
- Mechanical stripping: currently underway over the Rosa Zone, Dome Sector and Ginger Showing.
- Diamond drilling: a minimum of 7,000 metres will be drilled starting later this year to expand the Rosa Zone and to test Rosa’s western extensions, the Dome Sector and new targets.
Initial results from the summer program were reported in the press release of September 9, 2026ii.
About Wabamisk
The Wabamisk Property is a wholly owned project comprising 784 claims covering 415.2 km2. This includes 73 claims recently added to the Property by map designation. The contiguous Wabamisk East Property (205 claims, 108.5 km2) is also being explored for gold and lithium. Together, the Wabamisk and Wabamisk East projects provide exposure to a strategic 59-kilometre-long strike position in one of the most prospective greenstone 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 Éléonore 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.
Analytical protocols and project management
Sawed channel samples and grabs were sent to Actlabs Laboratories in Val-d’Or, Québec. Several batches of rock samples were also sent to MSALABS in Val-d’Or. Gold was analyzed using PhotonAssay™ technology, a non-destructive X-ray analytical method that directly measures gold content in crushed rock samples. Samples were also analyzed for a 48-element suite using ICP. Azimut applies industry-standard QA/QC procedures to its drilling and prospecting programs. All batches sent for analysis included certified reference materials, blanks and field duplicates. Soil samples were sent to Actlabs Laboratories for analysis using method 1A6-50 on a 50-gram sample with cyanide extraction and ICP-MS finish for gold, and method UT-2-30g (aqua regia digestion with ICP and ICP-MS finish) for trace elements.
The project is under the direction of Alain Cayer (P.Geo.), Azimut’s Project Manager.
Qualified person
Dr. Jean-Marc Lulin (P.Geo.), Azimut’s President and CEO, prepared this press release and approved the scientific and technical information disclosed herein, including the previously reported results presented in the figures and table 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
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 Québec. Azimut is focused on several key high-impact projects:
- Wabamisk and Wabamisk East (100% Azimut), which host the Fortin Zone (antimony-gold), Rosa Zone (gold), Dome Sector (gold), and Lithos Zone (lithium).
- Elmer (100% Azimut), which hosts the resource-stage Patwon Deposit (gold) (311,200 oz Indicated and 513,900 oz Inferrediii).
- Kukamas (KGHM option), which hosts the Perseus Zone (nickel-PGE).
- Nickel North Corridor (SOQUEM option) for its nickel-copper-PGE potential.
- Corvet and Kaanaayaa (Centerra option) for their gold and copper potential.
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, Centerra Gold Inc. and Agnico Eagle Mines Limited, which hold approximately 12.7% and 11%, respectively, of the Company’s issued and outstanding shares.
Contact and Information
Jean-Marc Lulin, President and CEO
Tel.: (450) 646-3015 – Fax: (450) 646-3045
Jonathan Rosset, Vice President Corporate Development
Tel.: (604) 202-7531
[email protected] www.azimut-exploration.com
Cautionary note regarding forward-looking statements
This press release contains forward-looking statements, which reflect the Company’s current expectations regarding future events related to the drilling results from the Wabamisk Property. To the extent that any statements in this press release contain information that is not historical, the statements are essentially forward-looking and are often identified by words such as “consider”, “anticipate”, “expect”, “estimate”, “intend”, “project”, “plan”, “potential”, “suggest” and “believe”. The forward-looking statements involve risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Many factors could cause such differences, particularly volatility and sensitivity to market metal prices, the impact of changes in foreign currency exchange rates and interest rates, imprecision in reserve estimates, recoveries of gold and other metals, environmental risks including increased regulatory burdens, unexpected geological conditions, adverse mining conditions, community and non-governmental organization actions, changes in government regulations and policies, including laws and policies, global outbreaks of infectious diseases, and failure to obtain necessary permits and approvals from government authorities, as well as other development and operating risks. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this document. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, other than as required to do so by applicable securities laws. The reader is directed to carefully review the detailed risk discussion in our most recent Annual Report filed on SEDAR+ for a fuller understanding of the risks and uncertainties that affect the Company’s business.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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i Azimut Continues to Expand the Fortin Antimony-Gold Zone, Wabamisk Property, James Bay Region, Québec
ii Azimut Accelerates District-Scale Gold Exploration at Wabamisk
iii Technical Report and Initial Mineral Resource Estimate for the Patwon Deposit, Elmer Property, Québec, Canada, prepared by Martin Perron, P.Eng., Chafana Hamed Sako, P.Geo., Vincent Nadeau-Benoit, P.Geo. and Simon Boudreau, P.Eng. of InnovExplo Inc., dated January 4, 2024. The initial MRE comprises Indicated resources of 311,200 ounces in 4.99 million tonnes grading 1.93 g/t Au and Inferred resources of 513,900 ounces in 8.22 million tonnes grading 1.94 g/t Au.
ROSA-DOME VEIN FIELD, WABAMISK PROPERTY, JAMES BAY REGION, QUÉBEC
Table 1: Rosa-Dome Vein Field – Preliminary Description – North to South
| Zone or Prospect | Length (km) | Salient gold results to date | Mineralogy / Alteration | Host rocks | Geochemical footprint in soil (B horizon) | Geophysics | Drilling to date (meterage, # of holes) |
ROSA | 1.4 (open) | 46.41 g/t Au / 3.5m (D) 9.29 g/t Au / 5.0m (D) 1.29 g/t Au / 28.8m (D) 30.17 g/t Au / 4.0m (C) 93.9 g/t Au / 0.35m (G) | Visible gold, Py, Po, Asp, (Cp) Quartz veins Tourmaline Ankerite Chlorite | Metasediments, (intermediate to mafic volcanics) | As, Ag, Bi, (Au, Cu, Sb, W) | Corridor of strong IP anomalies | 6,651.2 m (46) |
| ROSA WEST | 1.5 (to be validated) | New showings: Up to 2.88 g/t Au (G) Up to 2.36 g/t Au (G) | Quartz veins Po, (Cp) | Metasediments | As, Ag, Au, Bi, Cu | Corridor of strong IP anomalies | None |
K | 0.5 (open) | 52.4 g/t Au (G) 19.3 g/t Au (G) 1.8 g/t Au / 2.8m (D) 1.7 g/t Au / 3.0m (C) | Asp, Po, Py, (Cp) Quartz veins Calcite | Contact gabbro / metasediments | Not covered | Strong IP anomalies (historical survey) EM axis in the vicinity | 523.27 m (7) Historical holes |
PP-51 East PP-51 West | 1.8 (open) | 1.0 g/t Au / 17.0m (D) 2.6 g/t Au / 2.3m (D) 8.54 g/t Au (G) 5.24 g/t Au (G) | Asp, Po, Py, (Cp) Quartz veins Tourmaline | Contact mafic-ultramaficintrusion/ basalt; metasediments | Partly covered As, Au, (Sb, W) | Strong IP anomalies (historical survey) | 1,473 m (11) Historical holes |
DOME A | 0.7 (open) | 9.33 g/t Au / 0.9m (D) 2.49 g/t Au / 0.91m (D) | Asp, Po, (Cp) Quartz veins Tourmaline Carbonate | Sheared gabbro, metasediments | Not covered | Strong IP anomalies in the vicinity (historical survey); EM anomaly east of Dome A | 473.3 m (7) Historical holes |
| At 500m NNE At 1.5 km ENE | New showings: Up to 4.78 g/t Au (G) Up to 6.3 g/t Au (G) | ||||||
DOME C DOME NE FISCHER | 1.0 (open) | 1.3 g/t Au / 7.5m (D) 17.7 g/t Au / 1.0m (C) 14.26 g/t Au/1.0m (C) 80.71 g/t Au (G) | Asp, Po, (Cp) Quartz veins Tourmaline Carbonate | Gabbro, basalt, metasediments | Au, Ag, As, Cu, Sb, W, (Bi) | Strong IP anomalies (historical survey) EM anomaly | 717.3 m (6) Historical holes |
| At 1 km SW | New showing: Up to 5.56 g/t Au (G) | ||||||
Notes:
Location: See Figures 5 to 9
Azimut’s results since 2025 in bold
Grab samples are selective by nature, unlikely to represent average grades, and may not represent true underlying mineralization.
Asp: arsenopyrite; Py: pyrite; Po: pyrrhotite; Cp: chalcopyrite
D: Drill core interval; C: Channel interval; G: Grab sample
