Azimut Bets Big with 20,000m Drill Plan to Unlock Quebec's Gold

LONGUEUIL, Quebec – March 02, 2026 – Fresh off a resounding vote of confidence from its shareholders, Azimut Exploration Inc. is launching one of its most ambitious exploration campaigns to date, committing to at least 20,000 metres of drilling across its key Quebec properties in 2026. The move signals a strategic acceleration to unlock the value of its flagship Wabamisk and Elmer projects, leveraging a strong financial position and a proprietary data-driven exploration approach.

At its Annual General Meeting (AGM) on February 26, the company saw shareholders approve all proposed matters with overwhelming support, with nearly 68% of outstanding shares being voted. The subsequent reappointment of the executive team, including President and CEO Jean-Marc Lulin, solidifies the leadership mandate to execute a strategy focused on self-funded, high-impact drilling programs. This stability is further bolstered by the backing of strategic investors Agnico Eagle Mines and Centerra Gold, whose combined ownership represents a significant vote of confidence from major industry players.

Unlocking Deep Gold Potential at Wabamisk

A significant portion of Azimut's focus is on its wholly owned Wabamisk property, where recent work has yielded tantalizing clues of a much larger mineralized system. The company just completed a 5,105-metre, 27-hole drill program at the Fortin Zone, a promising antimony-gold target. The most encouraging development came from the deepest hole drilled to date, which intersected the target mineralized unit approximately 200 metres below any previous drilling.

Crucially, for the first time at Fortin, geologists observed visible native gold grains deep within the system, at a depth of 521 metres. This finding lends significant weight to a geological theory the company has been pursuing: the potential for “antimony to gold vertical zonation.” This model, documented in major deposits worldwide, suggests that shallower antimony mineralization can transition to higher-grade gold mineralization at depth. The discovery of visible gold at this new depth is a powerful proof-of-concept that could dramatically alter the project's value proposition. While all assay results from this latest phase are pending, the visual confirmation has clearly energized the exploration team.

“The potential for an antimony-gold vertical zonation at Fortin has been highlighted in press releases since January 16, 2025, and continues to represent one of the Company’s key exploration priorities at Wabamisk,” the company stated, reinforcing the strategic importance of this target. The Fortin Zone remains open for expansion in all directions, suggesting the full extent of the system is yet to be defined.

Meanwhile, drilling is also active at Wabamisk’s Rosa Zone, a pure gold target. Following a successful maiden drill program in late 2025 that confirmed a kilometer-scale discovery, a second phase of at least 2,000 metres is now underway. This follow-up work aims to expand a discovery that is already open in all directions, building on a foundation of promising initial results.

Expanding a Known Asset at Elmer

In parallel with the discovery-focused work at Wabamisk, Azimut is advancing its Elmer project, home to the Patwon gold deposit. Fieldwork is commencing this week on a substantial 10,000-metre drill program designed to systematically expand the deposit's existing resource base.

The Patwon deposit already boasts an NI 43-101 compliant resource estimate from January 2024, containing 311,200 ounces of gold in the Indicated category and an additional 513,900 ounces in the Inferred category. This established resource provides a solid foundation for growth. Azimut believes the project remains significantly underexplored and that the new drilling can add substantial ounces.

The strategic goal at Elmer is clear: advance the project to its next major valuation milestone. Success in this 10,000-metre program is expected to lead directly to a resource update and, if warranted, the initiation of a Preliminary Economic Assessment (PEA). A positive PEA would provide the first official economic snapshot of the project, marking a critical step in its evolution from a discovery to a potential future mine.

A Tech-Driven, Multi-Commodity Strategy

Underpinning Azimut’s ambitious field programs is a disciplined and tech-forward corporate strategy. The company is renowned for its pioneering use of big data analytics through its proprietary AZtechMine™ expert system. This system allows Azimut to process vast geological, geochemical, and geophysical datasets to identify and rank exploration targets on a regional scale, providing a significant competitive advantage in generating high-quality prospects.

This technological edge is paired with a strategic approach to portfolio management. While holding the largest mineral exploration portfolio in Quebec, Azimut is actively streamlining its assets to concentrate capital and expertise on its most advanced and highest-impact projects like Wabamisk and Elmer. This involves pursuing select option agreements and divestitures on other properties to maximize value for shareholders while maintaining a sharp focus.

The company’s portfolio is also notably diverse, with strategic land positions for not only gold but also critical minerals like lithium, copper, and nickel. Results are still pending from an initial drill program on the Lithos Pegmatite Field for lithium at Wabamisk East, and work is being planned at the Kukamas nickel-copper project. This multi-metal exposure positions Azimut to capitalize on strong market fundamentals across the commodities essential for both traditional industry and the green energy transition. With drills turning on multiple fronts and a pipeline of pending assay results, 2026 is shaping up to be a pivotal year for the Quebec-based explorer.