Azimut Exploration Inc.

Wabamisk

Region

James Bay

Size

41,520 Ha

Metals

Sb-Au, Au

Target Style

Shear-related Au systems

Stage

Drilling Stage

Operator

AZM

Ownership

100% Azimut

2026 Planned Program

Prospecting, soil and till geochemistry, IP surveys, mechanical stripping, diamond drilling (minimum 7,000 m)

Introduction

The Wabamisk property is a wholly owned gold and antimony-gold project comprising 784 claims covering 415.2 km², located about 70 km south of the Eleonore gold mine (Dhilmar Ltd), with which it shares a comparable geological context and geochemical signature. It is also 13 km east of the Clearwater property (Fury Gold Mines Ltd) and 42 km northeast of the Whabouchi lithium deposit (Rio Tinto – Nemaska Lithium). Major powerlines pass through or close to the property's eastern end, and the North Road highway passes 37 km to the south. The nearest town is Nemaska, a Cree community, 55 km to the southwest.

Together with the contiguous Wabamisk East property (205 claims, 108.5 km²), which is explored for gold and lithium, Azimut controls a strategic 59-kilometre-long strike position in one of the most prospective greenstone belts in the James Bay region.

Azimut initially acquired the claims by map designation in 2005 following its James Bay-scale predictive modelling for gold. Wabamisk was optioned to Placer Dome in 2005 before it was transferred to Goldcorp Inc. which was then acquired by Newmont. In 2022, Azimut announced that it regained 100% ownership of the project (PR of August 8, 2022).

Since regaining full control of the Property, Azimut reprocessed the property’s large database to rank exploration targets.

The 2024 prospecting program revealed an antimony-rich system demonstrated by channel samples (3.92% Sb over 14.0 m) and numerous high-grade grab samples (up to 24.8% Sb) collected along a 1.2-kilometre-long strike within the Fortin Zone. Gold commonly accompanies antimony.

A first drilling program of 51 diamond drill holes for 6,396 m was completed in late 2024 and early 2025 on the Fortin Zone. The results confirmed the presence of a robust mineralized antimony-gold system with considerable exploration potential.

In 2025, a significant gold-bearing zone was discovered by prospecting, characterized by multiple high-grade gold results coupled with impressive occurrences of visible gold (the "Rosa Zone"). A maiden drill program (26 holes, 3,633 m) was completed in late 2025, followed by a second program (20 holes, 3,018.2 m) in early 2026 that returned 46.41 g/t Au over 3.50 m, including 155.0 g/t Au over 1.0 m in hole WR26-40.

The 2026 field program recognized a 3-kilometre by 5-kilometre gold-bearing vein field over the Rosa-Dome Sector, largely untested by drilling, and a new gold showing (Ginger) between Rosa and Fortin. A minimum 7,000-metre diamond drilling program is planned to start later this year (PR October 26, 2026).

Rosa-Dome Vein Field – Latest Results

In October 2026, Azimut reported that this year's field program has significantly expanded the scale of the gold potential at Wabamisk (PR October 26, 2026). The Rosa-Dome Sector appears to be part of a multi-kilometre gold-bearing vein field measuring 3 km by 5 km, largely untested by drilling, characterized by:

An extensive quartz vein system, which returned numerous high-grade gold results;
Widespread tourmaline and iron carbonate (ankerite) alteration;
Sulphide mineralization (mostly arsenopyrite, pyrite, pyrrhotite);
A network of subparallel major structures;
A variety of host rocks, dominated by sheared mafic volcanics and/or gabbro, and metasediments; and
Continuous trends of induced polarization ("IP") anomalies.

The vein field currently consists of five distinct mineralized zones with a cumulative length of at least 5.4 kilometres. The geological framework and limited drilling to date suggest these zones can be significantly extended along strike and at depth. The multi-kilometre width and greenschist metamorphic context of the Rosa-Dome structural corridor underscore a potential for kilometre-scale vertical continuity. The sector also displays several key features of the Val-d'Or vein field in Québec, where gold-bearing quartz veins are mostly hosted in sheared mafic to intermediate volcanic rocks and intrusions, with arsenopyrite and/or pyrite and a tourmaline and iron carbonate alteration assemblage.

New Gold Showing between Rosa and Fortin (Ginger)

A new gold showing (the "Ginger Showing"), recently uncovered by prospecting, underscores the discovery potential over the 15-kilometre distance separating the Rosa-Dome Sector and the Fortin Zone. Preliminary results include up to 3.71 g/t Au in grab samples and 1.40 g/t Au over 2.0 m in a channel sample, with an apparent mineralized thickness of about 10 metres. Mineralization consists of disseminated to semi-massive arsenopyrite hosted in metasedimentary rocks with quartz veining. Albitic alteration has been observed, indicating possible strike continuity with the antimony-gold Fortin Zone. The showing remains open in all directions and correlates well with a 5-kilometre-long IP anomaly and a strong arsenic-antimony soil anomaly. Mechanical stripping is underway to expand it.

2026 Field Program and Planned Drilling (as of October 26, 2026)

Soil geochemistry: 5,517 samples collected (results pending for 3,573 samples);
Rock geochemistry: 1,355 grab and channel samples collected (results pending for 249 samples);
Till survey: 102 samples, mainly in the Dome Sector;
IP survey: 144 line-kilometres in progress, mainly over the Dome Sector;
Mechanical stripping: underway over the Rosa Zone, Dome Sector and Ginger Showing; and
Diamond drilling: a minimum of 7,000 metres starting later this year to expand the Rosa Zone and test Rosa's western extensions, the Dome Sector and new targets.

2026 - Surface Sampling at Rosa

In September 2026, Azimut reported that work over the Rosa Zone and the Dome Sector provides evidence that the two areas are likely part of the same broad, east-west-trending, gold-bearing structural corridor (PR September 9, 2026). Mechanical stripping opened 10 trenches along a 620-metre lateral distance on the Rosa Zone. A total of 101 channels yielded 562 sawed samples, including 64 samples above 1.0 g/t Au and 14 above 5.0 g/t Au.

Best channel results include:

WR02 Trench: 34.0 g/t Au over 3.0 m, including 43.1 g/t Au over 1.0 m and 55.8 g/t Au over 1.0 m; and 12.6 g/t Au over 2.0 m, including 23.7 g/t Au over 1.0 m
Dom Trench: 1.50 g/t Au over 8.0 m, including 8.45 g/t Au over 1.0 m; and 3.03 g/t Au over 5.0 m, including 5.49 g/t Au over 1.0 m
WR07 Trench: 2.72 g/t Au over 8.0 m, including 5.85 g/t Au over 3.5 m; and 20.82 g/t Au over 1.0 m
Gesu Trench: 1.81 g/t Au over 4.0 m

The size of several trenches was constrained by overburden thickness, so channel sampling may not fully represent the width of the mineralized system. Some trenches with modest results lie above holes that returned significant intercepts (for example, hole WR26-40 below trench WR09), possibly indicating that the mineralized zone widens with depth.

Reconnaissance prospecting along an additional 1.5-kilometre strike of IP anomalies west of Rosa identified three new gold showings, located 200 m, 1,000 m and 1,600 m west of hole WR25-15 (the westernmost hole testing Rosa), with grab samples returning up to 2.88 g/t Au. These preliminary results reinforce the potential for a kilometre-scale extension of the Rosa Zone.

Grab samples are selective by nature, unlikely to represent average grades, and may not represent true underlying mineralization.

2026 - Second Drill Program at Rosa

In May 2026, Azimut reported the results of its second drill program on Rosa (20 holes for 3,018.2 m, WR26-27 to WR26-46), which confirmed two subparallel gold-bearing structures along a 1.4-kilometre strike within a 100-metre-wide corridor, open in all directions (PR May 26, 2026). Native gold grains were observed in drill core from eight holes.

Best results include:

WR26-40
- 46.41 g/t Au over 3.50 m (from 95.50 m to 99.00 m), including
  - 155.0 g/t Au over 1.0 m (from 98.00 m to 99.00 m)
WR26-43
- 4.84 g/t Au over 6.00 m (from 23.00 m to 29.00 m), including
  - 6.28 g/t Au over 4.50 m (from 23.00 m to 27.50 m) with
  - 11.00 g/t Au over 1.50 m (from 26.00 m to 27.50 m)
WR26-45
- 7.13 g/t Au over 2.50 m (from 159.00 m to 161.50 m), including
  - 11.80 g/t Au over 1.00 m (from 160.50 m to 161.50 m)
WR26-44
- 1.21 g/t Au over 10.00 m (from 127.50 m to 137.50 m), including
  - 3.64 g/t Au over 2.95 m (from 134.55 m to 137.50 m)
WR26-46
- 0.90 g/t Au over 15.00 m (from 117.00 m to 132.00 m), including
  - 1.35 g/t Au over 7.60 m (from 124.40 m to 132.00 m) with
  - 5.71 g/t Au over 1.50 m (from 130.50 m to 132.00 m)

Intervals are core lengths; true widths have not been determined.

Rosa Zone – Updated Key Features

Mineralization and alteration

Quartz vein system with iron carbonate and minor disseminated sulphides (pyrite, pyrrhotite, arsenopyrite, chalcopyrite), locally displaying brecciated textures.
Visible gold, including coarse gold, in quartz veins and immediate wall rocks; native gold has been observed in 19 of 46 drill holes.
Multiple high-grade gold results from drilling and surface sampling.
Alteration characterized by tourmaline and chlorite, mostly bordering quartz veins.

Geometry

The vein system, interpreted as extensional, displays two attitudes: an east-west strike with a steep dip to the south, and subhorizontal to shallowly dipping to the south.
Drilling and surface sampling outline a minimum 1,400-metre east-west gold-bearing strike related to shearing and quartz veining, which correlates well with a continuous IP axis.
Results to date indicate good lateral and vertical continuity. Drilling indicates a mineralized envelope up to 20-25 metres wide along the core axis, with a steep dip to the south.
A second subparallel gold-bearing trend, approximately 120 metres south of Rosa, has been confirmed by drilling over a 750-metre strike length and remains open. Hole WR26-40, which delivered the best drill intercept at Rosa so far (46.41 g/t Au over 3.5 m), may be part of this trend.

Geological context

Archean greenstone belt in the volcano-plutonic La Grande Subprovince, close to the tectono-metamorphic boundary with the metasedimentary Opinaca Subprovince. The metamorphic grade is upper greenschist facies.
Quartz vein system within a sheared envelope, principally hosted in metasedimentary rocks (arenite, graywackes) and intermediate to mafic tuffaceous metavolcanics.

2025 - Discovery a new high-grade gold showing

In August, Azimut reported that a significant gold-bearing zone (the “Rosa Zone”) was discovered by prospecting on its Wabamisk property. The Rosa Zone is characterized by multiple high-grade gold results coupled with impressive occurrences of visible gold. An induced polarization (“IP”) survey totalling 11 line-kilometres was quickly completed, which outlined a continuous east–west chargeability anomaly extending over 1.4 kilometres, strongly correlated with a 300-metre strike of high-grade, gold-bearing grab samples from outcrops. The survey also identified a subparallel chargeability anomaly, located roughly 50 to 200 metres to the north. Based on these results, a maiden 3,633m drill program was initiated in October to test the target.

In February 2026, Azimut reported that the initial drilling confirmed a significant gold-bearing mineralized system, which remains open along strike and at depth; furthermore, other subparallel targets remain untested. Additional upside potential is supported by the strong correlation between gold mineralization and induced polarization geophysical anomalies (PR February 9, 2026).

Best results include:

WR25-03
- 1.29 g/t Au over 28.80 m (from 23.70 m to 52.50 m), including
  - 3.26 g/t Au over 9.35 m (from 35.50 m to 44.85 m)
WS25-04
- 2.10 g/t Au over 10.50 m (from 23.50 m to 34.00 m), including
  - 4.03 g/t Au over 4.50 m (from 23.50 m to 28.00 m) with
  - 10.84 g/t Au over 1.50 m (from 26.50 m to 28.00 m)

Fortin Zone – Latest Results

In May 2026, Azimut reported the complete results of its third drill program on the Fortin Zone (27 holes for 5,108 m, WS26-87 to WS26-113) (PR May 20, 2026). Since its discovery in 2024, Azimut has drilled 113 holes (17,394 m) on the Fortin Zone and surrounding targets. The program was drilled at an average 100-metre spacing (locally 50 metres) down to a vertical depth of 300 metres. Antimony mineralization appears fairly continuous along strike, and better grades and thicknesses near the main Fortin outcrop suggest a possible rake plunging 50 degrees to the east.

Best results from the Fortin Zone (antimony-gold) include:

WS26-104
- 0.41% Sb, 0.13 g/t Au over 30.55 m (from 212.35 m to 242.90 m), including
  - 2.24% Sb, 0.13 g/t Au over 1.00 m (from 230.00 m to 231.00 m), and
  - 1.21% Sb, 0.10 g/t Au over 2.50 m (from 237.00 m to 239.50 m)
WS26-101
- 0.87% Sb, 0.13 g/t Au over 12.50 m (from 62.00 m to 74.50 m), including
  - 1.98% Sb, 0.14 g/t Au over 4.00 m (from 65.00 m to 69.00 m), with
  - 3.70% Sb, 0.18 g/t Au over 1.00 m (from 68.00 m to 69.00 m)
WS26-109
- 0.41% Sb over 23.40 m (from 293.60 m to 317.00 m), including
  - 0.99% Sb over 6.40 m (from 293.60 m to 300.00 m)
WS26-99
- 0.54% Sb, 0.15 g/t Au over 17.00 m (from 70.50 m to 87.50 m), including
  - 0.82% Sb, 0.16 g/t Au over 9.20 m (from 77.30 m to 86.50 m)
WS26-93
- 0.52% Sb over 16.70 m (from 93.00 m to 109.70 m), including
  - 1.27% Sb over 2.40 m (from 98.20 m to 100.60 m)

Best results from the Fortin South Zone (gold) include:

WS26-100
- 4.66 g/t Au over 6.00 m (from 26.00 m to 32.00 m), including
  - 26.70 g/t Au over 1.00 m (from 31.00 m to 32.00 m)
WS26-108
- 4.54 g/t Au over 4.50 m (from 152.00 m to 156.50 m), including
  - 18.10 g/t Au over 1.00 m (from 155.50 m to 156.50 m)

Intervals are core lengths; true widths have not been determined.

Fortin South Zone

Located about 100 metres south of and subparallel to Fortin, the Fortin South gold zone has been traced along a minimum 1,300-metre strike by 18 drill holes returning at least 0.5 g/t Au. Gold mineralization is associated with disseminated to semi-massive arsenopyrite and variable quartz veining in sheared metasedimentary rocks. Steeply dipping to the south and open in all directions, the zone correlates well with induced polarization and arsenic soil anomalies.

Preliminary geometry of the Fortin Zone

Strike-length: At least 1.8 kilometres, based on 74 mineralized holes, within a broader 2.4-kilometre-long prospective corridor, based on two holes drilled on the eastern and western extensions (WS25-22 and WS25-34, respectively).
Thickness: Intervals grading above 0.1% Sb range from 5 to 50 metres wide along the hole, averaging roughly 20 metres.
Dip: To the south at approximately 70 to 75 degrees.
Vertical extent: Tested from surface down to 300 metres; open at depth.

2025 - Follow-up Program to Further Delineate the Fortin Zone

In preparation for the 2025 drill program, Azimut completed mechanical surface stripping and extensive channel sampling during the summer along the Fortin Zone. All 6 stripped areas, collectively covering 350 metres along a 1.5-kilometre east-west strike, exposed the feldspar porphyry sill and host metasediments, supporting the geometric continuity of the mineralized system.

The best results included:

WR25-01: 3.24% Sb / 19.0 m incl. 4.02% Sb / 15.0 m. Peak value of 13.4% Sb / 1 m
WR25-02: 2.08% Sb, 2.64 g/t Au / 17.0 m incl. 3.15% Sb, 10.92 g/t Au / 4.0 m. Peak value of 36.5 g/t Au / 1 m.
WR25-12: 1.66% Sb, 0.42 g/t Au / 14.0 m incl. 2.31% Sb, 0.50 g/t Au / 10.0 m. Peak value of 4.29% Sb / 1 m.
WR25-13: 0.97% Sb, 0.17 g/t Au / 16.0 m. Peak value of 2.36% Sb / 1 m.

High-grade gold (up to 36.5 g/t Au over 1 m in channel WS25-02) associated with antimony was also uncovered further supporting that the gold potential of the Fortin Zone may increase at depth, a pattern already observed in other antimony-gold deposits worldwide.

2025 Drill Program Goals:

Delineate the Fortin Zone with systematic drilling over a 1.5-kilometre strike and down to 200 metres vertically.
Search for high-grade gold at depth related to a possible vertical zonation. In several deposits around the world, gold-rich sections occur at deeper levels than antimony mineralization.
Commence a mineralogical and metallurgical characterization of the mineralized material, which will include comminution testing and flotation testwork.

2024/2025 - Initial Drill Program

A first drilling program of 51 diamond drill holes for 6,396 metres was completed in late 2024 and early 2025. The results confirmed the presence of a robust mineralized antimony-gold system with considerable exploration potential (PR May 22, 2025).

Significant results to date:

Hole WS25-40 1.10% Sb, 0.38 g/t Au over 51.50 m (from 3.0 m to 54.5 m), including
- 3.43% Sb, 2.37 g/t Au over 6.50 m (from 3.0 m to 9.5 m), and
- 2.41% Sb, 0.18 g/t Au over 9.30 m (from 37.5 m to 46.8 m)
Hole WS25-41 0.65% Sb, 0.13 g/t Au over 42.75 m (from 20.0 m to 62.75 m), including
- 1.43% Sb, 0.26 g/t over 10.55 m (from 52.20 m to 62.75 m)
Hole WS24-06: 1.08% Sb, 0.53 g/t Au over 22.70 m (from 78.5 m to 101.2 m), including
- 1.74% Sb, 1.15 g/t Au over 9.50 m (from 79.5 m to 89.0 m)
Hole WS25-42: 0.64% Sb, 0.24 g/t Au over 37.10 m (from 29.5 m to 66.6 m), including
- 1.71% Sb, 0.37 g/t Au over 13.30 m (from 29.5 m to 42.8 m)

Of the 28 holes with intervals grading more than 0.2% Sb, 15 also yielded gold intervals grading more than 1.0 g/t Au over at least 1.0 m, including 8 with grades above 4.0 g/t Au over at least 1.0 m.

The geometry of the Fortin Zone is estimated to have:

Strike-length: Minimum 1.0 kilometre, based on 31 mineralized holes, within a broader 2.4-kilometre-long prospective corridor, based on two (2) holes drilled at the eastern and western extensions (WS25-22 and WS25-34, respectively).
Thickness: Intervals grading above 0.2% Sb range from 5 to 50 metres wide along the hole, roughly 25 metres on average.
Dip: To the south at approximately 75 degrees.
Vertical extent: Mostly tested from surface down to 50 metres; open at depth.

The results of this program support the preparation of the summer drilling campaign, which will include 10,000 metres of infill and expansion drilling.

2024 - Discovery of High-Grade Antimony Zone

In October 2024, Azimut announced the discovery of a high-grade antimony corridor on the property with channel samples (3.92% Sb over 14.0 m) and numerous high-grade grab samples (up to 24.8% Sb) collected along a 1.2-kilometre-long strike within the Fortin Zone. Gold (up to 7.27 g/t Au in grabs) commonly accompanies antimony. Note that grab samples are selective by nature and unlikely to represent average grades. Geoscientific data (prospecting, induced polarization and magnetism, lake sediment, till and soil geochemistry) support a minimum 3.5-kilometre length for the antimony-gold exploration corridor. Significant additional work is needed to appraise its full potential.

Based on these results, Azimut proceeded with a 5,000-metre diamond drilling program to assess the corridor’s strike and grade continuity.

The 2024 summer prospecting program yielded 311 grabs and 28 channel samples. One of the objectives was to reassess a previously identified target area with known gold-antimony mineralization. 87 samples (21 from channels, 30 grabs and 36 sawed) were collected from the 1.0 by 3.5-kilometre target area. The results, which reveal significantly higher grades and better continuity than previously recognized, include 52 samples returning grades higher than 0.5% Sb:

29 samples grading 1.0% to 5.0% Sb; and
13 samples grading higher than 5.0% Sb, up to a maximum of 24.8% Sb.

The best channel (channel #1) returned:

3.92% Sb and 0.3 g/t Au over 14.0 m, including 11.84% Sb and 1.18 g/t Au over 3.0 m

Antimony mineralization appears as semi-massive to disseminated stibnite (Sb₂S₃) within a multi-metre-thick envelope of intense quartz veining, mostly subparallel to the east-west schistosity, generally dipping steeply to the south. North-south multi-centimetre-thick quartz-stibnite veins also crosscut the schistosity. Arsenopyrite and pyrrhotite are also present (1% to 3%). Stockwork and brecciated facies contain the highest antimony grades. Mineralized outcrops display a dark reddish mineral named kermesite, the product of partial oxidation of stibnite.

At the outcrop scale, the mineralized zone overlaps a contact between felsic tuffs and/or a porphyritic quartz diorite sill and sheared metasediments (siltstone). The highest-grade antimony samples (above 10% Sb) seem preferentially hosted in metasediments.

The Wabamisk property is situated in the Archean Superior Province at the contact between the La Grande and Opinaca subprovinces. This boundary is controlled by a major E-W regional deformation corridor. The property is underlain by La Grande volcano-plutonic lithologies and Opinaca metasedimentary units. Wabamisk has a comparable geological context and geochemical signature to the Éléonore gold mine.