Azimut Confirms Extensive High-Grade Lithium Surface Discovery on Wabamisk East Property, James Bay Region, Quebec

Mechanical Stripping Exposes Multi-Kilometre-Scale Lithium Pegmatite Field

LONGUEUIL, Quebec, Oct. 09, 2025 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. (“Azimut” or the “Company”) (TSXV: AZM) (OTCQX: AZMTF) is pleased to announce positive results from a systematic field program conducted this summer on its Wabamisk East Property (the “Property”) in the Eeyou Istchee James Bay region of Quebec (see Figures 1 to 6, Photos 1 to 4).

Wabamisk East is part of a revised option agreement with Rio Tinto Exploration Canada Inc. (“Rio Tinto”), which consolidates previous option agreements announced in 2023 (see press releases dated July 24, 2025ⁱ and July 10, 2023ⁱⁱ) whereby Rio Tinto has the option to earn up to a 70% interest by spending $85 million. Azimut is the operator during the first phase of the revised agreement (see section below). The project is reaching the drilling stage and Azimut will propose to Rio Tinto an aggressive program for early 2026.

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 July 9, 2025ⁱⁱⁱ, and September 29, 2025^iv).

Salient Results

• Systematic field reconnaissance conducted this summer uncovered a large-scale system of spodumene pegmatites, which remains open in all directions. There is good potential for additional discoveries of spodumene pegmatites under cover. Mechanical stripping currently underway is expanding the known footprint of these pegmatitic bodies, as well as revealing many additional near surface spodumene pegmatites within a minimum 4 km² prospective surface area in four distinct sectors (see Figures 3 to 6). The aim is to confirm that the mineralization is continuous over a significant part of this area. This press release reports the results of the field reconnaissance, while the results of the stripping phase will be detailed in a forthcoming press release.
  
• At least 86 distinct spodumene-bearing outcrops have been identified and sampled since the initial 2024 field check of an isolated historical grab sample grading 0.34% Li₂O.
  
• Of the 109 grab samples collected in 2025, 63 returned grades higher than 0.5% Li₂O:
  
  
  • 16 samples with grades from 0.5% to 1.0% Li₂O;
  • 18 samples with grades from 1.0% to 2.0% Li₂O; and
  • 29 samples with grades higher than 2.0% Li₂O, up to a maximum of 6.93% Li₂O.

• Of the 195 samples collected over two field seasons (86 in 2024 and 109 in 2025), 110 returned grades higher than 1.0% Li₂O, including 67 samples exceeding 2.0% Li₂O. The reader is cautioned that grab samples are selective by nature, unlikely to represent average grades, and may not represent true underlying mineralization.