Azimut’s New Exploration Results Support Large-Scale Gold Vein Field at Wabamisk

Azimut is scaling up exploration at Wabamisk with a major drilling campaign imminent.

What the company is saying

Azimut Exploration Inc. is highlighting rapid progress at its wholly owned Wabamisk Property in Quebec, emphasizing the discovery of a 3 km by 5 km gold-bearing vein field in the Rosa-Dome Sector and a new Ginger Showing with up to 3.71 g/t Au in grab samples and 1.40 g/t Au over 2.0 m in channel sampling. The company stresses the scale of its 2026 field program, with 5,517 soil samples collected (3,573 pending), 1,355 rock samples (249 pending), and 102 till samples, plus a 144 line-kilometre IP survey underway. Management frames the Rosa-Dome corridor as analogous to major Quebec gold districts, describing the potential for kilometre-scale vertical continuity and significant strike extension. The announcement is confident, referencing a minimum 7,000-metre diamond drilling program set to begin later this year, and positions Azimut as a regional leader with strategic landholdings and institutional backing from Centerra Gold Inc. (12.7%) and Agnico Eagle Mines Limited (11%). Dr. Jean-Marc Lulin, President and CEO, is named as the qualified person and release author, reinforcing technical credibility.

What the data suggests

The company has mapped at least five mineralized zones in the Rosa-Dome Vein Field with a cumulative strike length of 5.4 km, and has identified eight significant gold showings since June 2026, plus at least nine new mineralized outcrops in the Dome Sector. The Ginger Showing’s grab and channel samples returned up to 3.71 g/t Au and 1.40 g/t Au over 2.0 m, with apparent mineralized thickness of about 10 m, but these are preliminary and selective. The 2026 field program is extensive: 5,517 soil samples (3,573 pending), 1,355 rock samples (249 pending), and 102 till samples, with a 144 line-kilometre IP survey in progress. Planned drilling is significant at a minimum of 7,000 metres, targeting the Rosa Zone, Dome Sector, and new targets. The Wabamisk Property covers 784 claims (415.2 km2), with 73 claims recently added, and the contiguous Wabamisk East Property adds 205 claims (108.5 km2), providing a 59-kilometre strike position. The Elmer Property, also 100% Azimut, hosts the Patwon Deposit with 311,200 oz Indicated and 513,900 oz Inferred. No resource estimate or economic study is provided for Wabamisk; all current figures relate to early-stage exploration and sample results.

Analysis

The announcement is upbeat, highlighting new gold showings, extensive fieldwork, and a large-scale planned drilling program. The majority of the claims are realised and well-supported by specific technical data (sample counts, grades, property size), which is appropriate for an exploration-stage company. However, several key statements are forward-looking, such as the planned 7,000-metre drilling campaign and the assertion that zones can be 'significantly extended,' both of which are not yet realised and lack supporting drill results. The language describing the 'very high' potential for additional discoveries and zones being 'open in all directions' is promotional, as no resource estimate or economic analysis is provided for the Wabamisk Property. The capital intensity flag is set because a substantial drilling program is planned, but the benefits (resource growth, economic value) are long-term and uncertain. Overall, the tone is moderately hyped but grounded in credible technical disclosure for this stage.

Risk flags

• ●The Wabamisk project is still at an early exploration stage, with no resource estimate or economic assessment disclosed; all value is contingent on future drilling success and subsequent studies.
• ●Sample results, including the Ginger Showing’s 3.71 g/t Au grab and 1.40 g/t Au over 2.0 m channel, are preliminary and selective, and may not represent average grades or true widths, introducing uncertainty about the project's true potential.
• ●A minimum 7,000-metre drilling program is planned but not yet started, so there is execution risk related to timing, cost, and technical outcomes; delays or disappointing results would materially impact the investment case.
• ●Although Centerra Gold Inc. and Agnico Eagle Mines Limited are strategic shareholders (12.7% and 11%), their equity positions do not guarantee future funding or project-level partnerships.

Bottom line

Azimut is aggressively advancing the Wabamisk Property with a large-scale field program and a minimum 7,000-metre drill campaign to start later this year, but all current results are early-stage and selective, with no resource estimate or economic analysis yet. The scale of sampling and geophysical work indicates a serious exploration effort, and the presence of major institutional shareholders adds credibility, but does not ensure future support. The main near-term catalyst will be drill results and any move toward a maiden resource estimate; until then, the investment case rests on geological potential rather than proven ounces or economics. Investors should watch for the start of drilling and the release of pending assay results as the next concrete milestones. The key takeaway is that Azimut is positioning Wabamisk as a district-scale gold play, but the project remains high risk and high reward at this stage.

Announcement summary

(TSXV:AZM, OTCQX:AZMTF) Azimut Exploration Inc. provided a comprehensive update on its ongoing exploration program at the wholly owned Wabamisk Property in the Eeyou Istchee James Bay region of Quebec, Canada. The company has identified a 3-kilometre by 5-kilometre gold-bearing vein field over the Rosa-Dome Sector, which remains largely untested by drilling. A new gold showing, named the Ginger Showing, was discovered between the Rosa and Fortin zones, with preliminary results including up to 3.71 g/t Au in grab samples and 1.40 g/t Au over 2.0 metres in a channel sample, and an apparent mineralized thickness of about 10 metres. Since June 2026, eight significant gold showings have been discovered through prospecting and mechanical stripping, and at least nine new mineralized outcrops have been found in the Dome Sector in recent weeks. The company is preparing for a minimum 7,000-metre diamond drilling program, planned to start later in 2026, to expand the Rosa Zone and test new targets. The Rosa-Dome Vein Field currently consists of five distinct mineralized zones with a cumulative length of at least 5.4 kilometres, and limited drilling to date suggests these zones can be significantly extended along strike and at depth. The Ginger Showing correlates with a 5-kilometre-long IP anomaly and a strong arsenic-antimony anomaly in soil, and remains open in all directions. The 2026 field program includes the collection of 5,517 soil geochemistry samples (with results pending for 3,573), 1,355 rock geochemistry samples (results pending for 249), and 102 till samples, as well as a 144 line-kilometre IP survey mainly over the Dome Sector. The Wabamisk Property comprises 784 claims covering 415.2 km2, including 73 claims recently added by map designation, and the contiguous Wabamisk East Property (205 claims, 108.5 km2) is also being explored for gold and lithium. Together, these projects provide exposure to a 59-kilometre-long strike position in a highly prospective greenstone belt. The property is located 13 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 Éléonore gold mine (Dhilmar Ltd). Analytical work is being conducted at Actlabs Laboratories and MSALABS in Val-d’Or, using PhotonAssay™ technology and ICP methods. The project is managed by Alain Cayer (P.Geo.), Project Manager, and the press release was prepared and approved by Dr. Jean-Marc Lulin (P.Geo.), President and CEO, who acts as the qualified person under NI 43-101. Azimut also controls the Elmer Property (100% Azimut), which hosts the Patwon Deposit with 311,200 ounces Indicated and 513,900 ounces Inferred. Centerra Gold Inc. and Agnico Eagle Mines Limited are strategic investors, holding approximately 12.7% and 11% of Azimut’s issued and outstanding shares, respectively.

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