Azimut Bets Big on James Bay's Gold and Nickel with Massive Campaign

LONGUEUIL, Quebec – June 30, 2026 – Mineral explorer Azimut Exploration Inc. today detailed one of its most ambitious field programs to date, a multi-front summer campaign aimed at unlocking significant gold and nickel potential across Quebec’s prolific Eeyou Istchee James Bay region. The company announced comprehensive programs are now underway on four key projects, a strategic push that Azimut believes is among its most significant yet.

The large-scale initiative seeks to fast-track resource growth and test new discoveries, capitalizing on a strong market for both precious and base metals. The update, released ahead of an investor webinar, signals a period of intense activity designed to translate years of systematic, data-driven targeting into tangible asset growth.

A Multi-Front Campaign in a Rich Frontier

Azimut’s summer exploration is a coordinated offensive across a vast and mineral-rich territory. The James Bay region, underlain by the ancient and resource-heavy Superior Craton, has emerged as a premier global destination for gold and, increasingly, for critical minerals like nickel and lithium. Azimut's four-pronged strategy aims to leverage this geological endowment.

The campaign's objectives are clear and targeted:

1. Wabamisk Property: The primary goal is to accelerate the delineation of a massive 30-kilometre-long gold corridor. This district-scale play gained prominence following the discovery of the antimony-gold Fortin Zone in 2024 and the gold-rich Rosa Zone in 2025.

2. Elmer Property: Work here is focused on expanding the known Patwon gold deposit along strike while also assessing extensive, underexplored gold-copper targets that lie in close proximity.

3. Kukamas Property: Following the 2024 discovery of the high-grade Perseus nickel-PGE zone, the partner-funded program is now focused on expanding this critical minerals discovery through further drilling.

4. Northern Nickel Corridor (NNC): This regional-scale project, a strategic alliance with SOQUEM, is entering its first major phase of assessment with a massive heliborne geophysical survey designed to pinpoint nickel targets across a 360-kilometre stretch of land.

This broad-based approach highlights the company's confidence not just in a single discovery, but in the potential of its entire James Bay portfolio, which it has methodically assembled over several years.

Building on a Foundation of Discovery

The current push is not speculative; it builds directly on a foundation of successful drilling and established resources. At the Elmer Property, a 10,000-metre drill program is underway to expand the Patwon gold deposit. The first phase of 10 holes has already been completed, with assay results pending. This program aims to grow the 2023 Mineral Resource Estimate, which stands at an impressive 311,200 ounces of Indicated gold and 513,900 ounces of Inferred gold.

With current gold prices well above the US$1,800 per ounce figure used in that initial estimate, any successful expansion of the resource base could significantly enhance the project's economic prospects and pave the way for a preliminary economic assessment.

Meanwhile, at the Wabamisk Property, aggressive fieldwork is already yielding visible results. Mechanical stripping using heavy excavators has exposed the gold-bearing vein system of the Rosa Zone over a continuous 450-metre length, confirming visual continuity of a system that has previously returned high-grade drill intercepts, including a notable 46.41 g/t Au over 3.50 metres. This boots-on-the-ground work is critical for refining targets ahead of a major drill program planned for the fall, providing a clearer picture of the scale of a mineralized system that has already been traced by drilling over 1,400 metres.

The Power of Strategic Alliances

A key pillar of Azimut’s strategy is its ability to attract major partners to fund and advance its projects, a move that de-risks development and preserves the company’s treasury. Two major alliances are central to the summer 2026 campaign.

At the Kukamas nickel project, global mining giant KGHM International Ltd. has already earned a 50% interest by funding over $5.0 million in exploration. KGHM has now entered the second option phase, where it will solely fund at least $4.2 million in work to earn an additional 20% stake and deliver a Preliminary Economic Assessment. With KGHM, a subsidiary of a major global copper and silver producer, now at the operational helm, the project benefits from deep financial pockets and world-class technical expertise to drive the expansion of the high-grade Perseus nickel discovery.

Further north, the Northern Nickel Corridor project is a testament to Azimut's regional targeting strategy. The company recently finalized a definitive agreement with SOQUEM, a subsidiary of Investissement Québec, for a strategic alliance on the massive NNC project. SOQUEM can earn up to a 60% interest by funding $11 million in exploration. The immediate focus is a 6,591 line-kilometre high-resolution heliborne survey, a costly but essential step in mapping the subsurface geology to identify promising nickel-copper-PGE targets. This partnership allows Azimut to test a vast, district-scale concept with a well-funded provincial partner.

A Data-Driven Edge in Modern Exploration

Behind the flurry of field activity lies Azimut's core competitive advantage: a pioneering approach to big data analytics. The company’s proprietary AZtechMine™ expert system allows it to systematically process and analyze vast regional-scale datasets to generate high-potential targets. This data-driven methodology is what enabled Azimut to generate concepts like the Northern Nickel Corridor and secure its strategic land positions for gold, copper, nickel, and lithium across Quebec.

This technological edge, combined with rigorous financial discipline, has attracted a strong institutional following. Strategic investors Agnico Eagle Mines and Centerra Gold collectively hold over 20% of the company’s shares, a significant vote of confidence in Azimut's long-term strategy and technical capabilities. By leveraging technology to identify opportunity and partnerships to fund development, Azimut has crafted a sustainable model for growth in the capital-intensive exploration sector.

As Azimut operates in the Eeyou Istchee James Bay territory, its progress is also intertwined with a complex and evolving landscape of environmental regulations and Indigenous rights. Success in the region requires not only geological acumen but also a commitment to sustainable practices and meaningful engagement with the Cree Nation, whose government has established its own mining policy to guide development. With drills turning and geological teams deployed across a vast territory, the results from this comprehensive summer campaign are poised to be a defining catalyst for Azimut and a key indicator of the ongoing development in the James Bay region.