Azimut Identifies Visible Gold in 11 Drill Holes on the Rosa Zone, Wabamisk Project, James Bay, Quebec

On November 18, 2025, Azimut Exploration announced the completion of its maiden diamond drilling program at the Rosa Zone on its 100%-owned Wabamisk Project in the James Bay region of Quebec. The company reported that visible gold was identified in 11 of the 26 holes drilled. The program was significantly expanded from its planned 1,500 metres to 3,633 metres based on encouraging visual observations during drilling. The company confirmed that assay results are pending and, subject to those results, it plans to aggressively expand the drilling program in early 2026.

The news is a positive interim update on the ongoing exploration at the highly prospective Rosa Gold Zone. The progression of this discovery has been systematic and encouraging: - August 28, 2025: Initial discovery of the Rosa zone with high-grade surface grab samples (up to 42.0 g/t Au). - September 29, 2025: Commencement of a 1,500-metre maiden drill program. - October 28, 2025: Release of excellent channel sampling results (e.g., 4.0 m of 30.17 g/t Au) and confirmation that the drill program was being expanded with visible gold noted in 5 holes. - November 18, 2025 (current news): Program now complete at 3,633 metres (more than doubled the initial plan), with visible gold now identified in 11 of 26 holes.

The consistent positive visual indicators and the decision to more than double the drill program are strong signals that the company is intersecting the targeted mineralized system. However, as a critical analyst, it must be emphasized that visible gold does not always correlate to economic widths and grades. The market is well aware of this discovery and is eagerly awaiting the quantitative assay results to validate the potential.

Therefore, this news is in line with expectations and confirms the ongoing progress. It is positive because it reinforces the potential of the discovery, but it is routine because it does not provide the definitive assay data needed for a material re-valuation. The stock's reaction will likely be muted until the assays are released. The true test of materiality is yet to come.

Azimut Exploration Inc. is a mineral exploration company with a significant property portfolio in Quebec's James Bay region. The company utilizes a proprietary big data analytics approach (AZtechMine™) to generate exploration targets. While its official flagship project is the Elmer Project, which hosts the Patwon gold deposit with an established resource (311,200 oz Indicated, 513,900 oz Inferred), recent exploration has been heavily focused on the 100%-owned Wabamisk Property. Wabamisk has emerged as a multi-commodity project of key importance, hosting three significant discoveries: 1. Fortin Zone: An extensive antimony-gold system. 2. Rosa Zone: A new high-grade gold discovery. 3. Wabamisk East: A large-scale spodumene (lithium) pegmatite field, optioned to Rio Tinto.