Azimut Discovers New High-Grade Gold Zone at Wabamisk, James Bay Region, Québec, Canada

Rosa Zone outlined at surface over a minimum 700-metre strike with consistent high-grade gold results over 300 metres

Intensive follow-up ahead of drilling

LONGUEUIL, Québec, Aug. 28, 2025 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. (“Azimut” or the “Company”) (TSXV: AZM) (OTCQX: AZMTF) is pleased to report that a significant gold-bearing zone (the “Rosa Zone”) has been discovered by prospecting on its wholly owned Wabamisk Property (the “Property”) in the Eeyou Istchee James Bay (“James Bay”) region of Québec, Canada (see Figures 1 to 5, Photos 1 to 12).

The Rosa Zone is characterized by multiple high-grade gold results coupled with impressive occurrences of visible gold. These results have fast-tracked the transition of this target to the drilling stage, which is planned for this fall. The zone is located about 15 kilometres west of the Fortin Zone, a major antimony-gold target where a systematic 10,000-metre drilling program is underway.

The Wabamisk Property is highly prospective with several exploration successes announced by Azimut since it regained full control of the project after 17 years of operatorship by a former partner. Since 2024, Azimut has made three substantial field discoveries on the project, all actively being advanced:

• Fortin Zone (antimony-gold);
• Lithos North & South (lithium pegmatitic field), now part of the Wabamisk East Property, recently optioned to Rio Tinto; and
• Rosa Zone (gold), the discovery announced today.
  

Rosa Zone – Preliminary Description

• Mineralization and alteration
  • Sheared quartz vein system with disseminated sulphides (pyrite, pyrrhotite, chalcopyrite) in small amounts, generally less than 2%, in veins and altered host rocks, locally displaying brecciated textures.
  • Visible gold, including very coarse gold, associated with quartz veins, observed at more than 10 locations over 200 metres along the western part of the zone.
  • 29 grab and channel samples with grades above 1.0 g/t Au, including 14 samples above 5.0 g/t Au (up to 42.0 g/t Au) (see Figure 5). Grab samples are selective by nature, unlikely to represent average grades, and may not represent true underlying mineralization.
  • Alteration characterized by tourmaline and chlorite, mostly bordering the quartz veins.
    
    
• Geometry
  
  • Outlined over a 700-metre east-west strike, supported by field and magnetic data, with consistent high-grade gold results over 300 metres; open in all directions.
  • Veined shear zone indicates Rosa is at least 5 to 10 metres thick; widths not yet fully defined.
  • Steep dip to the south.
  • Preliminary definition of a second subparallel gold-bearing trend striking 250 metres, roughly 50 metres south of Rosa.
    
    
• Geological context
  
  • Archean greenstone belt of 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 felsic volcanic tuffs.
    

Follow-up Program Prior to Drilling

• 217 rock samples collected from Rosa (198 grabs and 19 sawed channel samples totalling 18.5 m), including 53 samples (43 grabs, 10 channels) for which results are pending.
• 253 soil samples (B Horizon) collected from an area measuring 1,800 metres by 350 metres, for which results are pending.
• Reprocessing of a very high-resolution heliborne magnetic survey covering the zone (in progress).
• Induced polarization survey covering the zone (TMC Geophysics of Val-d’Or, Québec) using a dipole-dipole array with readings every 25 metres (n=1 to 8) (in progress).
• Mechanical stripping of regularly spaced trenches to further define the zone’s geometry (scheduled for early fall).
  

Other Targets in the Vicinity

Azimut is conducting two (2) other extensive exploration programs on substantial targets in the vicinity:

• Diamond drilling is advancing as planned on the antimony-gold Fortin Zone also located on the Property (see press release of July 9, 2025ⁱ). Since July, 32 additional holes (5,057 metres) have been drilled (total of 83 core holes for 11,453 metres) to systematically assess the 1.5-kilometre-long mineralized sill and its surroundings. Results are pending and will be reported as soon as they are received. The best results for Fortin include:
  • 1.10% Sb over 51.5 m, incl. 3.43% Sb, 2.37 g/t Au over 6.50 m (hole WS25-40)
  • 1.08% Sb, 0.53 g/t Au over 22.7 m, incl. 1.74% Sb, 1.15 g/t Au over 9.5 m (hole WS24-06)
  • 2.08% Sb, 2.64 g/t Au over 17.0 m, incl. 3.15% Sb, 10.92 g/t Au over 4.0 m (channel WR25-01)

• A comprehensive mapping campaign for lithium is underway on the Wabamisk East Property (adjacent to Wabamisk) following the signing of a revised agreement with Rio Tinto Exploration Canada. A remaining firm commitment of approximately $1.15 million will be incurred before the end of 2025, plus potential expenditures of $3 million to aggressively assess the lithium potential on the project, notably through significant drilling (see press release of July 24, 2025ⁱⁱ).
  

About the Wabamisk Property

Wabamisk is a wholly owned project comprising 673 claims covering 356 km². The Property now includes the 118 claims (62.5 km²) of the former Chromaska Property, which has been integrated into the project. 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 provide a strategic 51-kilometre strike position on 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.

Analytical Protocols and Project Management

The 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 analyzed for a 48-element suite using ICP. Antimony is also analyzed using four-acid digestion and ICP-AES (Sb-ICP08). 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 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

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.

The Company’s wholly owned flagship project, the Elmer Gold Project, is at the resource stage (311,200 oz Indicated and 513,900 oz Inferred using a gold price of US$1,800 per ounceⁱⁱⁱ) and has a strong exploration upside. Significant exploration activities are underway on the Wabamisk (antimony-gold), Wabamisk East (lithium) and Kukamas (nickel-copper-PGE) projects. Azimut also holds an important position in an emerging district with its Galinée lithium 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 counts among its shareholders two strategic investors, 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
info@azimut-exploration.com        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, 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 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 Resumes Drilling to Expand the Antimony-Gold Zone on the Wabamisk Property, James Bay Region, Québec, Canada
ⁱⁱ Azimut and Rio Tinto Expand Previous Agreements to Include Lithium Rights on Wabamisk East Property, James Bay Region, Quebec
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.

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