Azimut Identifies Visible Gold in 11 Drill Holes on the Rosa Zone, Wabamisk Project, James Bay, Québec Maiden Drilling Program Completed with 26 Holes Drilled (3,633 metres)
For immediate release
November 18, 2025
TSXV: AZM
OTCQX: AZMTF
Press Release
Azimut Identifies Visible Gold in 11 Drill Holes on the Rosa Zone,
Wabamisk Project, James Bay, Québec
Maiden Drilling Program Completed with 26 Holes Drilled (3,633 metres)
Longueuil, Québec – Azimut Exploration Inc. (“Azimut” or the “Company”) (TSXV: AZM) (OTCQX: AZMTF)
announces that its maiden diamond drilling program has just been completed on the Rosa Zone (“Rosa”) on
the Company’s wholly owned Wabamisk Property (the “Property”) in the Eeyou Istchee James Bay (“James
Bay”) region of Québec, Canada.
The initial 1,500-metre planned drilling program was more than doubled to 3,633 metres in 26 holes based
on encouraging visual observations. Assay results are pending. Subject to these results, Azimut will
aggressively expand its drilling program early next year. Two drill rigs and a fully operational exploration camp
are already on the Property.
The occurrence of visible gold in more than 40% of the holes drilled to date correlates geometrically with a
700-metre east-west trend of gold-bearing outcrops and multiple induced polarization anomalies (“IP”)
identified over a minimum strike of 1.4 kilometres.
The Rosa Zone, discovered by prospecting this summer , is open in all directions and located approximately
15 kilometres west of the Fortin antimony-gold zone, also on Wabamisk (see press releases of September
29, 2025i and August 28, 2025ii).
HIGHLIGHTS (see Figures 1 to 5, Table 1, Photos 1 to 9)
• Eleven ( 11) of the 26 holes display visible gold (“VG”), related to a network of centimetric to
decametric quartz veins and metasedimentary host rocks.
• New VG observations are as follows:
o Hole WR25-17: VG at 74.49 m
o Hole WR25-22: VG at 87.15 m to 87.36 m; and 91.85 m
o Hole WR25-23: VG at 147.55 m to 147.6 m; and 147.72 to 148.76 m
o Hole WR25-24: VG at 71.73 m; 73.79 m; and 83.9 m
o Hole WR25-25a: VG at 142.79 m to 142.86 m
o Hole WR25-26: Strongly mineralized. VG at 73.3 m; 73.47 m; 73.53 m; 74.54 m; 91.1 m;
104.36 m to 104.43 m; 105.45 m to 105.52 m; 106.78 m; 107.31 m; and 109.36 m
• Previously reported VG observations are as follows (see press release of October 28, 2025iii):
o Hole WR25-02: VG at 57.07 m
o Hole WR25-03: VG at 35.6 m; 35.8 m; 42.1 m to 42.2 m; and 44.06 m
o Hole WR25-05: VG at 17.5 m
o Hole WR25-06: VG at 7.9 m
o Hole WR25-07: VG at 25.75 m
• Taken together, the down -hole VG occurrences preliminarily define an east -west-striking
envelope measuring 200 metres long by 100 metres wide. All holes displaying VG were drilled to the
north at -45 or -50 degrees (see hole locations on Figure 5 and hole coordinates in Table 1).
• Subject to confirmation from pending assay results, these observations appear to be consistent with the
recently reported gold results from surface channels, including:
o 23.0 g/t Au over 3.0 m (open interval), incl. 45.8 g/t Au over 1.0 m and 21.2 g/t Au over 1.0 m
o 3.79 g/t Au over 2.0 m
o 30.17 g/t Au over 4.0 m (open interval), incl. 111.5 g/t Au over 1.0 m and 7.54 g/t Au over 1.0 m
o 9.29 g/t Au over 5.0 m, incl. 40.8 g/t Au over 1.0 m
o 1.39 g/t Au over 3.0 m
o 93.9 g/t Au over 0.35 m
Rosa Zone – Preliminary Description
• Mineralization and alteration
- Sheared quartz vein system with minor disseminated sulphides (pyrite, pyrrhotite, chalcopyrite, arsenopyrite),
ranging from less than 2% to 5%, in veins and altered host rocks, locally displaying brecciated textures.
- Visible gold, including coarse gold, observed in association with quartz veins at more than ten (10) surface
locations over a 300-metre distance.
- Multiple high-grade gold results (see press release of September 29, 2025, and October 28, 2025).
- Alteration characterized by tourmaline and chlorite, mostly bordering the quartz veins.
• Geometry
- Mineralized outcrops over a 700 -metre east-west strike length, supported by field and magnetic data, with
consistent high-grade gold results over 300 metres; open in all directions. IP results suggest a minimum strike
of 1.4 kilometres.
- Mineralized corridor with shearing and quartz veining, indicating Rosa is at least 5 to 15 metres thick; widths
not yet fully defined as assays are still pending.
- Steep dip to the south.
- Preliminary definition of a second subparallel gold -bearing trend over an approximate strike of 300 metres,
roughly 120 metres south of Rosa, which the IP survey could not characterize due to its location along a
shoreline. This IP survey will be expanded during the winter season.
• 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 metasedimentary rocks.
About the Wabamisk Property
Wabamisk is a wholly owned project comprising 673 claims covering 356 km 2. The adjacent Wabamisk East
Property (205 claims, 108.5 km2) has been optioned to Rio Tinto for its lithium potential. Together, the Wabamisk
and Wabamisk East projects cover a 51-kilometre strike, providing a strategic 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 village municipality 55 kilometres to the
southwest.
Drilling Contract, Analytical Protocols and Project Management
Nouchimi-RJLL Drilling Inc. of Rouyn-Noranda, Québec, is conducting the drilling program using NQ core diameter.
Sawed channel and grab samples and sawed half core samples are sent to ALS Laboratories in Val-d’Or or Montreal
(Québec), where gold is analyzed by fire assay, with atomic absorption and gravimetric finishes for grades above
3.0 g/t Au. Samples are also an alyzed 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 include 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
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 holds the largest mineral exploration portfolio in Quebec, controlling strategic land
positions for gold, copper, nickel and lithium. Azimut is concurrently advancing several high-potential projects:
• Wabamisk (100% Azimut) – Fortin Zone (antimony-gold): results for 7 holes are pending and will be reported
as soon as they are received; Rosa Zone (gold): 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
Inferrediv); internal scoping study in progress; field assessment of the recently acquired K2 claim block.
• Wabamisk East (Rio Tinto option) – Lithos North & South (lithium): comprehensive field evaluation underway
to prepare for drilling phase.
• Kukamas (KGHM option) – Perseus Zone (nickel-copper-PGE): drilling phase completed; assay results are
pending and will be reported as soon as they are received.
The Company also holds an important position in an emerging lithium district with its Galinée 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 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 inf ormation 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, unexpe cted 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 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 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 uncerta inties 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 Starts Drilling High-Grade Gold Zone at Wabamisk, James Bay Region, Québec
ii Azimut Discovers New High-Grade Gold Zone at Wabamisk, James Bay Region, Québec, Canada
iii Azimut Obtains High-Grade Gold Results from Channel Sampling on the Rosa Zone, Wabamisk Project, James Bay, Quebec
iv 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 reso urces 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.