Azimut defines lithium field at Wabamisk

Executive Summary

• Azimut Exploration Inc. reports significant exploration progress on its 100%-owned Wabamisk East lithium property in Quebec, defining an extensive, high-grade, multikilometre-scale spodumene pegmatite field.
• The company identified at least 138 distinct spodumene-bearing outcrops with 340 channel and grab samples returning grades >0.5% Li2O (average 1.94% Li2O).
• Initial diamond drilling (5 holes, 615m) confirmed the down-dip extension of mineralized outcrops, with visual observations showing high spodumene content in coarse-grained pegmatite intervals.

Key Details

• Property Overview: Wabamisk East is a 100%-owned property comprising 205 claims (108.5 sq km) in the Eeyou Istchee James Bay region of Quebec.
• Surface Exploration Results:
  • At least 138 distinct spodumene-bearing outcrops identified.
  • 340 channel and grab samples collected.
  • Sample grades: >0.5% Li2O, with an average grade of 1.94% Li2O.
  • Work included extensive mechanical stripping and collection of 280 channel samples.
• Drilling Results (Initial Phase):
  • 5 diamond drill holes totaling 615 metres were drilled to test surface targets (Lithos North 1, Pierrot, and Lithos South).
  • Hole WL25-01: 37.55m interval (41.0m to 78.55m) with 20-30% spodumene; includes 3.75m amphibolite section.
  • Hole WL25-02: Three intervals (7.74m, 11.75m, 24.30m) from 11.7m to 76.65m; spodumene content 35-40%.
  • Hole WL25-03: Four intervals (6.45m, 3.37m, 0.95m, 6.1m) from 43.5m to 114.1m; spodumene content 15-30%.
  • Hole WL25-04: Five intervals (15.65m, 4.4m, 1.95m, 4.35m, 1.2m) from 20.15m to 154.3m; spodumene content 10-15%.
  • Hole WL25-05: 5.45m interval (49.65m to 55.1m) with 15% spodumene.
  • Note: Assays are pending; true widths are undetermined; intervals based on visual observations and downhole lengths.
• Geological Interpretation:
  • Pegmatite field remains open in all directions with potential for additional discoveries under cover within a minimum 4 sq km prospective area.
  • Lithos-North: Pegmatites oriented N-S (N350° to N20°), dipping east 60°-75°. Forms an en echelon field along a 1.2km long, 250m wide east-west corridor.
  • Lithos South: Similar orientations and dips; may define a second east-west lithium corridor.
  • Spodumene crystals are coarse to very coarse (up to 1.0m); holmquistite observed in host rocks.
• Corporate & Financing Context:
  • The 2025 field program was financed by Rio Tinto Exploration Canada Inc., with Azimut as operator.
  • Rio Tinto has indicated intent to terminate its option to joint venture agreement on Corvet, Kaanaayaa, and Wabamisk East properties effective Dec 31, 2025.
  • Azimut is concurrently advancing the Fortin antimony-gold zone and Rosa gold zone on the adjacent Wabamisk property.
• Technical Details:
  • Drilling contractor: Nouchimi-RJLL Drilling Inc. (NQ core diameter).
  • Laboratory: ALS Laboratories (ICP multielement analysis).
  • Qualified Person: Dr. Jean-Marc Lulin (PGeo), President and CEO.

Notable Quotes

• "The 2025 field program has significantly enhanced the lithium potential of the property by further defining a high-grade, multikilometre-scale spodumene pegmatite field."
• "The company considers this to be a limited initial drill testing phase. Numerous high-grade outcropping targets are drill ready and a more substantial follow-up phase is warranted for 2026."