Azimut Accelerates District-Scale Gold Exploration at Wabamisk

Azimut Exploration Inc. (AZM) released a 2026 exploration update for its wholly owned Wabamisk Property, outlining a 30 km by 2–2.5 km east-west gold corridor that links the Rosa Zone, Dome Sector and Fortin Zone. The update is not a new diamond-drill assay release but rather a summary of new surface data, primarily channel samples collected from 10 mechanically stripped trenches. The sampling program included 101 channels, 562 sawed samples, and a cumulative length of 540.9 m.

Key new channel highlights include WR02 Trench, which returned 34.0 g/t Au over 3.0 m, including 43.1 g/t and 55.8 g/t each over 1.0 m, as well as 12.6 g/t over 2.0 m and 5.94 g/t over 2.0 m. Other notable results include Dom Trench at 8.71 g/t over 1.0 m and WR07 Trench at 20.82 g/t over 1.0 m.

The company identified three new gold showings located 200 m, 1,000 m and 1,600 m west of WR25-15. Grab results from these showings were modest, returning 2.36 g/t, 1.50 g/t, 1.26 g/t, 2.88 g/t and 0.51 g/t Au. The release also restates previously reported drill intercepts, including WR26-40, which returned 46.41 g/t Au over 3.50 m, including 155.0 g/t over 1.0 m.

Planned future work includes a minimum of 7,000 m of diamond drilling, along with IP surveys, soil sampling and prospecting.

Azimut Exploration Inc. (AZM) is a pre-resource explorer at Wabamisk, though it holds the resource-stage Patwon deposit at Elmer. The company currently has no meaningful revenue and a market capitalization of approximately C$66 million.

This release provides incremental exploration news rather than a new drill-result event. It offers additional surface sampling support and expands the interpreted strike, but no new drill assays alter the investment thesis. Against the price chart, the stock has fallen from C$1.06 in January 2026 to C$0.60 in early September 2026 and is near its 52-week low, indicating the market is not pricing in a confirmed discovery.

The new surface channel result of 34 g/t over 3 m is similar to the October 2025 channel result of 30.17 g/t over 4 m, representing progress that is not a step-change.

Azimut Exploration Inc. (AZM) is a Quebec-focused mineral explorer that operates using a hybrid sole-funded and partner-funded model. Its portfolio includes the Wabamisk and Wabamisk East properties, which encompass the Rosa gold zone, the Fortin antimony-gold zone, the Dome gold sector, and the Lithos lithium zone.

The company also holds the Elmer project, which hosts the Patwon gold deposit containing 311,200 ounces indicated at 1.93 g/t Au and 513,900 ounces inferred at 1.94 g/t Au. Additionally, Azimut holds the Kukamas nickel-PGE project, which has been optioned to KGHM. High-grade results from the Perseus zone at Kukamas include 4.27% Ni and 2.63 g/t PGE over 8.6 m.

Strategic shareholders include Centerra Gold, holding approximately 12.67%, and Agnico Eagle, holding approximately 11%. In August 2026, the company completed a C$7 million private placement priced at C$0.60 hard-dollar and C$0.828 flow-through.