Azimut defines lithium field at Wabamisk

Mr. Jean-Marc Lulin reports AZIMUT FURTHER DEFINES EXTENSIVE HIGH-GRADE LITHIUM PEGMATITE FIELD AT WABAMISK EAST, JAMES BAY REGION, QUEBEC Azimut Exploration Inc. has made additional significant exploration progress on the Wabamisk East property in the Eeyou Istchee James Bay region of Quebec. The 2025 field program has significantly enhanced the lithium potential of the property by further defining a high-grade, multikilometre-scale spodumene pegmatite field. Wabamisk East, a 100-per-cent-owned property, is regarded by Azimut as offering excellent exploration potential. At least 138 distinct spodumene-bearing outcrops have been identified, with 340 channel and grab samples, returning grades higher than 0.5 per cent Li2O (lithium oxide), with an average grade of 1.94 per cent Li2O. Since the last reported results (see press release of Oct. 9, 2025), work conducted on the property comprises: Extensive mechanical stripping; Collection of 280 channel samples; Initial diamond drilling (five holes, 615 metres) to test surface targets confirmed the down-dip extension of the mineralized outcrops. This work phase has been financed by Rio Tinto Exploration Canada Inc., with Azimut acting as the operator. As a result in changes in corporate strategies, Rio Tinto has indicated its intent to terminate its option to joint venture agreement on the Corvet, Kaanaayaa and Wabamisk East properties on Dec. 31, 2025 (see press release of July 24, 2025). Azimut is concurrently advancing two other discoveries on the adjacent Wabamisk property: the Fortin antimony-gold zone and the Rosa gold zone (see press releases dated Oct. 23, 2025, and Nov. 18, 2025). Grab samples are selective by nature, unlikely to represent average grades, and may not represent true underlying mineralization. Five diamond drill holes (totalling 615 metres) have tested three outcropping targets: Lithos North 1, Pierrot and Lithos South. 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. Significant spodumene-bearing intervals are as follows (visual observations, downhole lengths, assays pending): Hole WL25-01:  One 37.55-metre-thick coarse-grained pegmatite interval with 20 to 30 per cent spodumene from 41.0 m to 78.55 m. This interval includes a 3.75-metre section of amphibolite. Hole WL25-02:  Three coarse-grained spodumene pegmatite intervals (7.74 m, 11.75 m and 24.30 m thick) from 11.7 m to 76.65 m. Amphibolite intercalations are 10.45 and 11.25 metres thick. Spodumene content ranges from 35 to 40 per cent. Hole WL25-03:  Four coarse-grained spodumene pegmatite intervals (6.45 m, 3.37 m, 0.95 m and 6.1 m thick) from 43.5 m to 114.1 m. Amphibolite intercalations are 33.8, 2.5 and 16.75 metres thick. Spodumene content generally ranges from 15 to 30 per cent. Hole WL25-04:  Five spodumene pegmatite intervals (15.65 m, 4.4 m, 1.95 m, 4.35 m and 1.2 m) from 20.15 m to 154.3 m. Amphibolite intercalations are 67.7, 12.1, 7.9 and 18.9 metres thick. Spodumene content is variable, generally ranging from 10 to 15 per cent. Hole WL25-05:  One 5.45-metre interval of coarse-grained pegmatite with 15 per cent spodumene from 49.65 m to 55.1 m. The lithium content of the spodumene mineralization can only be accurately determined by assay analysis. The true widths of the drill intervals are undetermined at this stage. Preliminary geometry of the pegmatite field At least 138 distinct spodumene-bearing outcrops have been identified and sampled since the initial 2024 field check of an isolated historical grab sample grading 0.34 per cent Li2O. The pegmatite field remains open in all directions. There is good potential for additional discoveries of spodumene pegmatites under cover within a minimum four-square-kilometre prospective surface area. At Lithos-North, the pegmatite bodies have a roughly north-south orientation (ranging from north 350 degrees to north 20 degrees) with dips to the east ranging from 60 degrees to 75 degrees. These bodies have variable apparent thicknesses (ranging from 10 to 50 m or more), and they cut across sheared mafic metavolcanics striking east-west. They form an en echelon field of intrusive bodies along a 1.2-kilometre-long and at least 250-metre-wide east-west corridor (the lithium corridor). Other orientations and dips have been observed, including possibly stacked shallow-dipping east-west-striking pegmatites (at Pierrot), which may be connected to north-south bodies. At Lithos South, the pegmatite bodies display similar northward orientations and eastward dips as those at Lithos North. Apparent thicknesses observed to date range from 10 to 15 m. These pegmatites may define a second east-west lithium corridor. Spodumene crystals are generally coarse to very coarse (up to 1.0 m), whitish or greyish to greenish, accompanied by quartz, white feldspar, muscovite, apatite and black tourmaline. Holmquistite (a diagnostic lithium-bearing amphibole) has been observed in the surrounding host rocks (mostly mafic metavolcanics and gneissic metasediments) proximal to the spodumene pegmatites. About the Wabamisk East property The Wabamisk East property (205 claims, 108.5 square km) is a wholly owned Azimut project. It lies 40 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. Drilling contract, analytical protocols and project management Nouchimi-RJLL Drilling Inc. of Rouyn-Noranda, Que., is conducting the drilling program using NQ core diameter. Rock samples are sent to ALS Laboratories in Val d'Or or Montreal (Quebec) for ICP multielement analysis (laboratory codes: ME-MS61, ME-MS89L). Azimut applies industry-standard QA/QC (quality assurance/quality control) procedures to its sampling programs. The project is under the direction of Alain Cayer (PGeo), Azimut's project manager. Qualified person Dr. Jean-Marc Lulin (PGeo), Azimut's president and chief executive officer, prepared this press release and approved the scientific and technical information disclosed herein, including the previously reported results presented 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 Exploration Inc. 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. Azimut is concurrently advancing several high-potential projects: Wabamisk (100 per cent Azimut) -- Fortin zone (antimony-gold): results for seven holes are pending and will be reported as soon as they are received; Rosa zone (gold): initial phase of drilling completed, assays pending; Elmer (100 per cent Azimut) -- Patwon gold deposit at the resource stage (311,200 ounces indicated and 513,900 oz inferred); internal scoping study in progress; field assessment of the recently acquired K2 claim block; Wabamisk East -- Lithos North and South (lithium): comprehensive field evaluation completed; initial phase of drilling completed, assays pending; Kukamas (KGHM option) -- Perseus zone (nickel-copper-platinum group element): drilling phase completed; assay results are pending and will be reported as soon as they are received. 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 has two strategic investors among its shareholders, Agnico Eagle Mines Ltd. and Centerra Gold Inc., which hold approximately 11 per cent and 9.9 per cent, respectively, of the company's issued and outstanding shares. We seek Safe Harbor.