Azimut Confirms Extensive High-Grade Lithium Surface Discovery on Wabamisk East Property, James Bay Region, Quebec

Executive Summary

• Azimut announced positive field reconnaissance results on the Wabamisk East Property, identifying 86 spodumene‑bearing outcrops and 109 grab samples in 2025, with 63 samples grading >0.5% Li₂O and 29 samples exceeding 2.0% Li₂O (max 6.93%).
• The property is part of a revised Rio Tinto option agreement that could grant Rio Tinto up to a 70% interest after $85 million of exploration spend; Azimut remains operator for the first phase and will propose an aggressive drilling program for early‑2026.
• Preliminary geometry shows two north‑south oriented pegmatite corridors (Lithium Corridor) with apparent thicknesses of 10–50 m, open in all directions and expanding over a minimum 4 km² surface area.

Key Details

• Option Agreement Context – Rio Tinto may earn up to 70% interest by spending $85 M; initial 50% earned after $25 M spend + $1.7 M cash (of which $0.8 M already paid).
• Field Reconnaissance Findings – 86 distinct spodumene outcrops identified since the 2024 check; 109 grab samples collected in 2025:
• 16 samples 0.5–1.0% Li₂O
• 18 samples 1.0–2.0% Li₂O
• 29 samples >2.0% Li₂O, highest grade 6.93% Li₂O
• Cumulative Sampling – Over two seasons (86 in 2024 + 109 in 2025 = 195 samples):
• 110 samples >1.0% Li₂O
• 67 samples >2.0% Li₂O
• Geological Geometry –
• Lithos‑North: N‑S orientation (N350°–N20°), eastward dips 60°–75°, thickness 10–50 m+, forming a 1.2 km long, ≥250 m wide “Lithium Corridor”.
• Lithos‑South: Similar N‑S orientation and eastward dip; observed thickness 10–15 m (potentially larger pending stripping).
• Mineralogy – Coarse to very coarse spodumene crystals (up to 0.5 m), associated quartz, feldspar, muscovite, apatite, tourmaline; holmquistite noted in host rocks.
• Current Work – Mechanical stripping underway to expand known pegmatite footprint; detailed stripping results to be released later.
• Future Plans – Azimut will submit an aggressive drilling program for early 2026 targeting the identified corridors and expanding the lithium resource base.
• Qualified Person – Dr. Jean‑Marc Lulin (President & CEO, P.Geo.) approved all technical information per NI 43‑101.

Notable Quotes

“The systematic field program has revealed a large‑scale, open‑ended system of spodumene pegmatites with grades that are highly encouraging for lithium development,” – Jean‑Marc Lulin, President and CEO, Azimut Exploration Inc.