Azimut Exploration Inc. (TSX-V: AZM) (OTCQX: AZMTF) is pleased to report very encouraging drilling results from its diamond drilling program on the antimony-gold Fortin Zone at its wholly owned Wabamisk Property in the Eeyou Istchee James Bay region of Quebec, Canada.

The initial plan for 5,000 metres was expanded in January, and the program concluded in late March with a total of 51 diamond drill holes for 6,396 metres. The results of this program support the preparation of the summer drilling campaign, which will include 10,000 metres of infill and expansion drilling.

The recently completed drilling program was initiated in late 2024 to follow up on the Fortin Zone surface discovery (see press releases of October 29 and December 2, 2024). Partial results from the first 17 holes (2,090 metres) were previously reported (see press releases of January 16 and April 10, 2025). This press release presents the full set of results from the program (Tables 1 and 2).

The price of antimony has risen sharply due to ongoing supply shortages exacerbated by trade disputes, recently reaching US$58,000 per tonne in markets outside China.

HIGHLIGHTS (Figures 1 to 10, Tables 1 and 2)

The 10 best holes of the 28 with antimony grades above 0.2% Sb (composite average) are:

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 (see Table 1).

Preliminary geometry of the Fortin Zone (see Figures 6 to 9)

– 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.

Mineralized system and geological context

• The antimony-gold mineralized system is hosted in an east-west striking subvertical feldspar porphyry intrusive sill and its sheared contacts with metasedimentary rocks (mostly siltstones). To date, 42 holes have intersected the sill over a lateral distance of 2.65 kilometres, and it remains open to the west. Its thickness varies from several metres to over 90 metres, with a steep dip to the south. So far, the sill has been intercepted vertically down to 140 metres, and a deeper extent is anticipated. The multi-kilometre lateral continuity of the sill could indicate a kilometre-scale vertical depth.
• Antimony sulphides (mostly stibnite: Sb₂S₃) are related to intense quartz veining within the sill and are commonly associated with other sulphides (arsenopyrite, pyrrhotite, pyrite). Sericite is the main alteration mineral, locally accompanied by chlorite, epidote and carbonate. The most abundant mineralization occurs along the southern contact where the sill meets sheared and folded metasedimentary rocks. The northern contact is also mineralized, but drilling to date suggests it is less continuous than along the southern contact. The quartz vein network is mostly subparallel to the east-west schistosity. The rheologic contrast between the brittle porphyry sill and the more ductile metasedimentary rocks appears to be one of the key controls on mineralization at the scale of the Fortin Zone.
• Approximately 300 metres south of the Fortin Zone, five (5) holes (WS25-35 to -39, totalling 870 m) tested a subparallel trend, mostly delineated by induced polarization anomalies coincident with gold showings. Hole WS25-35 yielded the significant results of 0.39 g/t Au over 8.80 m (from 28.20 m to 37.0 m), including 1.49 g/t Au over 1.50 m (from 35.5 m), and 2.73 g/t Au over 3.00 m (from 172.50 m to 175.50 m).
• Antimony-rich systems are unusual in Archean settings in Quebec. The mineralized sill on the Wabamisk Property lies along the major tectono-metamorphic boundary separating the volcano-plutonic La Grande Subprovince and the metasedimentary Opinaca Subprovince. This geological environment has already been recognized as prospective for gold, exemplified by the Eleonore gold deposit. At Wabamisk, the antimony-rich zone may transition to a deeper gold-rich zone. Further drilling will test for antimony-gold vertical zoning, a pattern observed in several deposits around the world.

About the Antimony Supply Shortage

Antimony is listed as a critical mineral by the Canadian and American governments and the European Commission. Three countries account for about 90% of the world’s production, estimated to be 100,000 tonnes in 2024 (China 60%, Tajikistan 17% and Russia 13%). Antimony is not currently mined in Canada or the United States. In August 2024, China imposed restrictions on the export of antimony, which led to a significant export reduction in October, increasing the risk of supply disruptions and potentially causing further price appreciation. Source: U.S. Geological Survey, Antimony Commodity Summary, January 2025.

About the Wabamisk Property

Wabamisk is a wholly owned project (39.5 km by 9.2 km) comprising 662 claims covering 350.5 km². It lies 13 kilometres east of the Clearwater Property (Fury Gold Mines), 42 kilometres northeast of the Whabouchi lithium deposit (Rio Tinto – Nemaska Lithium), and 70 kilometres south of the Eleonore gold mine (Dhilmar). 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 southeast.

Drilling, Analytical Protocols and Project Management

Nouchimi-RJLL Drilling Inc. of Rouyn-Noranda, Quebec, conducted the drilling program using NQ core diameter.

Sawed half-core drill core samples were sent to ALS Laboratories in Val-d’Or, Quebec, where gold was analyzed by fire assay, with atomic absorption and gravimetric finishes for grades above 3.0 g/t Au. Samples were also analyzed for a 48-element suite using ICP. Overlimit antimony assays (1%) were reanalyzed using four-acid digestion and ICP-AES. Azimut applies industry-standard QA/QC procedures to its drilling programs. All batches sent for analysis included certified reference materials, blanks and field duplicates. Note that grab samples are selective by nature, unlikely to represent average grades, and may not represent true underlying mineralization.

The project is under the direction of Alain Cayer (P.Geo.), Azimut’s Project Manager.

Qualified Person

Dr. Jean-Marc Lulin (P.Geo.), Azimut’s President and CEO, prepared this press release and approved the scientific and technical information disclosed herein, including the previously reported results presented by Azimut 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

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.

The Company’s wholly owned flagship project, the Elmer Gold Project, is at the resource stage (311,200 oz Indicated and 513,900 oz Inferred using a gold price of US$1,800 per ounce*) and has a strong exploration upside. Azimut is also advancing the Galinée lithium discovery with its joint venture partner SOQUEM Inc. In addition, significant exploration progress was made in 2024 on the Wabamisk (antimony-gold, lithium), Kukamas (nickel-copper-PGE) and Pilipas (lithium) projects.

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.