Azimut Drills 46.41 g/t Au over 3.50 m, incl. 155 g/t Au over 1.0 m on Rosa Zone, Wabamisk Property, James Bay, Québec Two subparallel gold-bearing structures confirmed along a 1.4-kilometre strike within a 100-metre-wide corridor, open in all directions
For immediate release
May 26, 2026
TSXV: AZM
OTCQX: AZMTF
Press Release
Azimut Drills 46.41 g/t Au over 3.50 m, incl. 155 g/t Au over 1.0 m
on Rosa Zone, Wabamisk Property, James Bay, Québec
Two subparallel gold-bearing structures confirmed along a 1.4-kilometre strike
within a 100-metre-wide corridor, open in all directions
District-scale exploration potential demonstrated along a 30-kilometre strike
Longueuil, Québec – Azimut Exploration Inc. (“Azimut” or the “Company”) (TSXV: AZM) (OTCQX: AZMTF)
announces the results of its second diamond drilling campaign on the Rosa gold zone (“Rosa”) at its wholly
owned Wabamisk Property in the Eeyou Istchee James Bay region of Québec (see Figures 1 to 3).
During this phase, Azimut drilled 20 holes for 3,018.2 metres (WR26-27 to WR26 -46) as a follow-up to its
maiden program conducted late last year (26 holes for 3,633 m) (see press releases of November 18, 2025 i
and February 9, 2026 ii). The objective of the second program was to extend Rosa and further define its
geometry and the controls on high-grade gold mineralization.
The results to date warrant significant follow-up work, including mechanical stripping planned to begin
early this summer and additional drilling later in the summer.
Wabamisk evolving as a district-scale exploration play (see Figures 8 and 9)
Based on the significant progress achieved since 2024, with the discovery of the Fortin Zone (Sb -Au) and the
Rosa Zone (Au), Azimut has conducted a comprehensive reassessment of the host structural trend. A 30-
kilometre-long district -scale play is emerging on the Property through the i ntegration of key data :
airborne and ground geophysics, soil and rock geochemistry, and structural analysis. More specifically,
induced polarization ( “ IP “) surveys combined with soil geochemistry revealed attractive unexplored and
underexplored targets immediately west of Rosa, between Rosa and Fortin, and east of Fortin. These highly
prospective new gold and/or antimony-gold targets will be subject to significant work during the 2026
field season.
DRILLING HIGHLIGHTS (see Figures 4 to 7, Photos 1 to 6, Tables 1 and 2)
• WR26-40 46.41 g/t Au over 3.50 m (from 95.50 m to 99.00 m), including
155.0 g/t Au over 1.0 m (from 98.00 m to 99.00 m)
• WR26-43 4.84 g/t Au over 6.00 m (from 23.00 m to 29.00 m), including
6.28 g/t Au over 4.50 m (from 23.00 m to 27.50 m) with
11.00 g/t Au over 1.50 m (from 26.00 m to 27.50 m)
• WR26-45 7.13 g/t Au over 2.50 m (from 159.00 m to 161.50 m), including
11.80 g/t Au over 1.00 m (from 160.50 m to 161.50 m)
• WS26-46 0.90 g/t Au over 15.00 m (from 117.00 m to 132.00 m), including
1.35 g/t Au over 7.60 m (from 124.40 m to 132.00 m) with
5.71 g/t Au over 1.50 m (from 130.50 m to 132.00 m)
• WR26-44 1.21 g/t Au over 10.00 m (from 127.50 m to 137.50 m), including
3.64 g/t Au over 2.95 m (from 134.55 m to 137.50 m)
• WR26-28 4.09 g/t Au over 1.50 m (from 9.00 m to 10.50 m)
0.81 g/t Au over 9.00 m (from 60.00 m to 69.00 m)
• WR26-30 0.61 g/t Au over 11.00 m (from 129.00 m to 140.00 m), including
2.25 g/t Au over 2.00 m (from 135.00 m to 137.00 m)
Native gold grains have been observed in the drill core from eight (8) holes, generally showing a good correlation
with assay results. Visible gold was encountered at the following downhole depths:
• WR26-27: 178.0 m
• WR26-30: 136.7 m; 137.65 m
• WR26-32: 68.15 m
• WR26-38: 94.35 m; 100.4 m; 110.9 m; 111.55 m
• WR26-40: 96.0 m to 96.15 m; 98.4 m to 98.5 m
• WR26-44: 136.0 m; 136.45 m; 136.55 m; 137.31 m
• WR26-45: 160.1 m; 160.85 m
• WR26-46: 117.25 m; 131.9 m
Rosa Zone – Preliminary description
• Mineralization and alteration
- Sheared quartz vein system with minor disseminated sulphides (pyrite, pyrrhotite, arsenopyrite,
chalcopyrite) in veins and altered host rocks, locally displaying brecciated textures.
- Visible gold, including coarse gold, in quartz veins and immediate wall rocks.
- Multiple high-grade gold results, notably from surface samples (see press release of September 29,
2025iii, and October 28, 2025 iv). Mechanical stripping and additional drilling will help define the zone’s
geometric continuity and the controls on high-grade components.
- Alteration characterized by tourmaline and chlorite, mostly bordering quartz veins.
• Geometry
- Drilling and surface sampling outline a minimum 1,400-metre east-west gold-bearing strike related to
shearing and quartz veining, which correlates well with a continuous IP anomaly.
- Results obtained to date indicate good lateral and vertical continuity of the gold zone. Drilling indicates a
mineralized envelope with a width of up to 20-25 metres along the core axis, with a steep dip to the south.
- A second subparallel gold-bearing trend, identified by prospecting approximately 120 metres south of
Rosa, has now been confirmed by drilling over a 750-metre strike length and remains open. Hole WR26-
40, which delivered the best drill intercept at Rosa so far ( 46.41 g/t Au over 3.5 m), may be part of this
trend. Other subparallel IP anomalies immediately north of Rosa have been partially drill -tested, with no
significant results so far.
• Geological context
- Archean greenstone belt in 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 intermediate to mafic
tuffaceous metavolcanics and metasediments (arenite, graywackes).
• Rosa Zone exploration upside
The Rosa Zone is characterized by four (4) features indicating excellent exploration upside: 1) the large size of
the system: minimum kilometre -scale with two subparallel mineralized structures 100 metres apart; 2) a
continuous gold-bearing system with native gold regularly observed (in 19 of 46 drill holes), so far only tested
at very shallow depths (down to 100 m); 3) a strong relationship between gold mineralization and a continuous
trend of IP anomalies ; and 4) a westward continuation of the trend demonstrated by strong untested IP
anomalies following the recent survey expansion.
Wabamisk: A district-scale exploration play
The Company’s work since 2024 has driven a comprehensive re-evaluation of the property’s potential, revealing
a major underexplored 30-kilometre-long corridor. Comparable footprints occur along strike of the Rosa and
Fortin zones, primarily due to the strong link between soil geochemistry (As, Sb) and IP anomalies. The main
features relate to the spatial coincidence of:
• East-west subparallel shear zones, evidenced by the interpretation of high-resolution magnetic data;
• Strings of strong arsenic and/or antimony anomalies in soil; and
• Continuous trend of IP anomalies
This corridor schematically straddles the La Grande-Opinaca Subprovince boundary and continues eastward
entirely within the Opinaca Subprovince . In addition to the Rosa and Fortin zones, several gold showings are
already known, but the overall trend remains substantially underexplored, given the numerous targets with
significant footprints.
The 2026 work program is being designed as a comprehensive campaign incorporating prospecting,
mechanical stripping, and drilling.
About Wabamisk
The Wabamisk Property is a wholly owned project comprising 673 claims covering 356 km 2. The contiguous
Wabamisk East Property (205 claims, 108.5 km2) is also being explored for both its lithium and gold potential.
Together, the Wabamisk and Wabamisk East projects provide exposure to a strategic 51-kilometre-long
strike position in 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 municipality 55 kilometres
to the southwest.
Drilling & geophysical contracts, analytical protocols, project management
Nouchimi-RJLL Drilling Inc. of Rouyn-Noranda, Québec, conducted the drilling program with one rig using NQ
core diameter.
TMC Geophysics of Val -d’Or, Québec , conducted an IP survey totalling 58.8 line-kilometres to cover the
westward extension of the Rosa Zone along a 1.5 -kilometre strike, and two areas between Rosa and Fortin
along a cumulative 5.9-kilometre strike. The survey used a dipole-dipole array with readings every 25 metres
(n=1 to 8) along 100-metre-spaced lines. This survey has been expanded and is still underway. In addition, the
data from a historical IP survey (103 line-km) covering the eastward extension of the Fortin Zone have been
reprocessed.
Sawed half-core drill core samples were sent to Actlabs Laboratories in Val-d’Or. Gold analyses were performed
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.
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 tables 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 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
focusing its activities on several key high-impact projects:
• Wabamisk (100% Azimut) – Fortin Zone (antimony-gold): third drilling program completed; Rosa Zone
(gold): second drilling program completed; implementation of a new program is in progress.
• Wabamisk East (100% Azimut) – Lithos North & South (lithium): initial phase of drilling completed, assays
pending.
• Elmer (100% Azimut) – Patwon gold deposit at the resource stage (311,200 oz Indicated and 513,900 oz
Inferredv); 10,000-metre drilling program underway.
• Kukamas (KGHM option) – Perseus Zone (nickel-copper-PGE): 2026 program in preparation.
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 Limited and Centerra Gold
Inc., which hold approximately 11% and 9.9%, 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 regulat ory 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, including COVID -19, and failure to obtai n
necessary permits and approvals from government authorities, as well as other development and operating risks. Although the C ompany
believes that the assumptions inherent in the forward -looking statements are reasonable, undue reliance should not be plac ed 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.
i Azimut Identifies Visible Gold in 11 Drill Holes on the Rosa Zone, Wabamisk Project, James Bay, Québec
ii Azimut Confirms Significant Gold Discovery at Rosa, Wabamisk Property, James Bay, Québec
iii Azimut Starts Drilling High-Grade Gold Zone at Wabamisk, James Bay Region, Québec
iv Azimut Obtains High-Grade Gold Results from Channel Sampling on the Rosa Zone, Wabamisk Project, James Bay, Quebec
v 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.
Québec
PILIPAS
(AZM - Ophir JV)
CHISASIВІ
MUNISCHIWAN
(AZM-SOQUEM JV)
ELMER
WEMINDJI ☐
69°W
Azimut's Position in the James Bay Region, Québec
KUKAMAS (AZM / KGHM option)
4.27% Ni, 0.45% Cu, 2.63 g/t PGE / 8.6 m (D)
6.06% Ni, 0.38% Cu, 3.34 g/t PGE / 2.6 m (D)
8.42% Ni, 0.55% Cu, 7.25 g/t PGE / 1.9 m (D)
RADISSON
Π
Perseus Zone
Éléonore Gold Mine
(Dhilmar)
KAANAAYAA
CORVET
Trans-Taiga
Road
Renard
Diamond Mine
(Stornoway)
PONTOIS
(AZM-SOQUEM JV)
Lab.
DALMAS (N.F.L)
(AZM-SOQUEM JV) そ
JBN-73
MERCATOR
FERMONT
DESCELIERS
(AZM-SOQUEM JV)
51°45'N
Indicated resources:
311,200 oz Au @ 1.93 g/t Au
Patwon
deposit
W1 Zone
Inferred resources: EASTMAIN
519,900 oz Au @ 1.94 g/t Au
WAPATIK
A
B
2.68% Ni, 1.30% Cu / 3.3 m (D) م
NEMASKA ☐
הWASKAGANISH
SALAMANDRE
JAMES
BAY
Billy
North
Road
OPINACA B
(AZM-Everton / Hecla Mining)
CORNE
WABAMISK EAST
2.53% LizO/7 m (C)
2.25% Li20 / 5.6 m (C)
1.90% Li₂0 /11 m (C)
WABAMISK
389
Road
6.D
167
Road
Π
1.10% Sb / 51.5 m (D)
1.08% Sb, 0.53 g/t /22.7 m (D)
2.08% Sb, 2.64 g/t Au / 17.0 m (C)
111.5 g/t Au / 1.0 m (C)
46.41 g/t Au / 3.5 m (D)
3.26 g/t Au / 9.35 m (D)
100 km
父 Mine
O
mond
Diam
MISTISSINI
Regional-scale projects
Northern Nickel Corridor
Village /Airport
▲ Hydro-electric dam
Road
n
CHIBOUGAMAU James Bay Nickel
ΠΠ
James Bay Lithium
Road MATAGAМ
CHAPAIS
Power line
D: Drill core sample
Figure 1 - Press release dated May 26, 2026
LABRIEVILLE
미
70°30'W
AZIMUT
EXPLORATION
C: Channel
Québec
Wabamisk Property in the James Bay Region, Québec
JAMES
BAY
ELMER (100% AZM)
Indicated resources:
311,200 oz Au @ 1.93 g/t Au
Inferred resources:
519,900 oz Au @ 1.94 g/t Au
Eastmain
50 km
父
Other AZM properties
Mine
Lithium Deposits and
Major Occurrences
Village /Airport
A Hydro-electric dam
Road
Power line
D: Drill core sample
C: Channel
G: Grab 78°W
م
To Radisson
Road
Billy-Diamond
To Matagami
Galaxy
(Rio Tinto)
Sarcelle
Eastmain-1, 1-A
A
Rose
Éléonore Gold Mine
(Dhilmar)
WABAMISK
(100% AZM)
WABAMISK EAST
(100% AZM)
Up to 7.43% Li₂O (G)
1.90% Li2O /11.0 m (C)
(Critical Elements) 1.1% Sb, 0.38 g/t Au /51.50 m (D)
3:24% Sb /19.0 m (C)
2.08% Sb, 2.64 g/t Au / 17.0 m (C)
Up to 24.8% Sb (G)
-111.5 g/t Au / 1.0 m (C)
46.41 g/t Au /3.5 m (D)
3.26 g/t Au /9.35 m (D)Nemaska
Whabouchi
North Road (Rio Tinto - Nemaska Lithium)
To
Chibougamau
AZIMUT
EXPLORATION
Figure 2 - Press release dated May 26, 2026 75°45'W
52°N
53°N
52°N
Québec
Wabamisk Property in the James Bay Region, Québec
Opinaca Subprovince
Éléonore Gold Mine
(Dhilmar)
☑ Cheechoo (Sirios)
JAMES
BAY
ELMER (100% AZM)
Indicated resources:
311,200 oz Au @ 1.93 g/t Au
Inferred resources:
519,900 oz Au @ 1.94 g/t Au
La Grande Subprovince
Eastmain ☐
Clearwater
(Fury Gold)
WABAMISK EAST
(100% AZM)
Nemiscau Subprovince
WABAMISK
(100% AZM)
Rosa Zone (gold)
Fortin Zone (antimony-gold)
Major tectono-metamorphic
boundary
Mine
Gold deposit (resource stage)
Gold prospect
- Albitic unit
Town
Geology background: DV 2002-06 (MRN, 2002)
Nemaska
78°W Figure 3 - Press release dated May 26, 2026 75°45'W
50 km
M
AZIMUT
EXPLORATION
52°N
53
5,760,000
5,780,000
ROSA
Wabamisk & Wabamisk East Properties, James Bay Region, Québec
46.41 g/t Au / 3.5 m
incl. 155.0 g/t Au /1.0 m (D)
4.84 g/t Au / 6.0 m (D)
30.17 g/t Au / 4.0 m (C)
incl. 111.5 g/t Au / 1.0 m
23.0 g/t Au / 3.0 m (C)
incl. 45.8 g/t Au / 1.0 m
9.29 g/t Au / 5.0 m (C)
incl. 40.8 g/t Au / 1.0 m
93.9 g/t Au / 0.35 m (G)
42.0 g/t Au (G)
26.1 g/t Au (G)
DUCHABLY
27.1 g/t Au (G)
4.98 g/t Au (G)
BRENDA
2.09 g/t Au (G)
FORTIN
4.66 g/t Au /6.0 m (D)
1.1% Sb, 0.38 g/t Au /51.5 m (D)
1.08% Sb, 0.53 g/t Au / 22.7 m (D)
1.01% Sb, 0.15 g/t Au /17.85 m (D)
0.65% Sb, 0.13 g/t Au /42.75 m (D)
3.24% Sb / 19.0 m (C)
2.08% Sb, 2.64 g/t Au / 17.0 m (C)
24.8% Sb, 1.35 g/t Au (G)
17.65% Sb, 2.48 g/t Au (G)
12.5% Sb, 3.47 g/t Au (G)
4.69% Sb, 7.27 g/t Au (G)
19.65% Sb (G)
Dolerite dyke
Iron formation
Tonalite and
pegmatite
Gabbro
BB
0.6% Cu, 0.5% Zn, 6 g/t Ag/1.4 m (D)
0.4% Zn, 0.16% Pb, 18 g/t Ag/7.0 m (D)
2.44 g/t Au (G)
LATOUR
2.52 g/t Au (G)
2 g/t Au (G)
8.2 g/t Au (G)
WHALE
1.42% LizO/6.85 m (C)
1.37% Li₂O/4 m (C)
1.29% LizO/2 m (C)
1.05% Liz₂O / 4.75 m (C)
1.19% Li20/8 m (C)
21.3 g/t Au (G)
19.75 g/t Au (G)
18.95 g/t Au (G)
18.9 g/t Au (G)
16.85 g/t Au (G)
14.2 g/t Au / 1.0 m (C)
10.25 g/t Au (G)
Diorite ON Wacke
La Grande
Subprovince
Basalt
Rhyolite
Wabamisk
(100% AZM)
DOME
1.30 g/t Au /7.50 m (D)
80.71 g/t Au (G)
20.98 g/t Au (G)
13.35 g/t Au (G)
13.28 g/t Au (G)
52.45 g/t Au (G)
19.37 g/t Au (G)
9.04 g/t Au (G)
Albitic unit
Shear zone
Mineralization
Gold
이
>5.0 g/t Au
1.0-5.0 g/t Au
Lithium
▲>1% Li₂O
7.66 g/t Au (G)
8.54 g/t Au (G)
7.53 g/t Au (G)
▲0.5% - 1.0% LiO
0.5- 1.0 g/t Au D: drill core sample
이 0.1-0.5 g/t Au C: channel sample
G: grab sample
455,000
Paragneiss
Granodiorite, diorite, gabbro,
paragneiss enclaves
Wabamisk East
(100% AZM)
Opinaca
Subprovince
LITHOS NORTH / SOUTH
3.28% Li₂O/ 1.06 m (C)
2.63% Li₂O/ 1 m (C)
2.53% Li20/7 m (C)
2.4% Li2O/1.4 m (C)
2.37% Li₂O / 3.88 m (C)
2.29% Li,O/ 4 m (C)
2.25% Li,O/5.6 m (C)
2.16% Li₂O/3 m (C)
2.12% LiO/6 m (C)
1.97% LizO/7 m (C)
1.90% LizO/11 m (C)
1.72% Li20/8 m (C)
1.70% Liz₂O/4 m (C)
1.68% Li,₂O / 8 m (C)
1.67% Li,O/7 m (C)
1.61% Li,O/2 m (C)
1.58% Li2O/8 m (C)
BENNY
2.33% Li20/3 m (C)
1.34% Li₂0/4 m
incl. 2.36% Li₂O /2 m (C)
5760,000
3.43 g/t Au (G)
0.39% Sb, 0.7 g/t Au / 19 m
incl. 2.27 g/t Au / 4.3 m (D)
8.26 g/t Au / 1 m (C)
H
2.22 g/t Au (G)
Geology, Structures and Mineralization
Figure 4 - Press release dated May 26, 2026
5 km
485,000
AZIMUT
EXPLORATION