Azimut updates 2026 summer exploration program

LONGUEUIL, Quebec, June 30, 2026 (GLOBE NEWSWIRE) -- Azimut Exploration Inc.  (“Azimut” or the “Company”) ( TSXV: AZM ) ( OTCQX: AZMTF ) is pleased to provide an update on the Company’s comprehensive programs currently underway on four (4) key projects in the Eeyou Istchee James Bay (“James Bay”) region of Quebec, Canada ( Figures 1 to 4, Photos 1 to 3 ). Azimut believes the 2026 field programs are among the Company’s most significant to date. The objectives are to: 1) Accelerate the delineation of the 30-kilometre-long gold exploration corridor on the Wabamisk Property; 2) Test the lateral extension of the Patwon gold deposit on the Elmer Property and assess extensive underexplored gold-copper targets located in close proximity;  3) Expand the Perseus high-grade nickel discovery on the Kukamas Property; and 4) Begin assessing regional nickel targets on the Northern Nickel Corridor project.

The Company will hold a webinar today at 3pm ET (12pm PT) in French and at 4pm ET (1pm PT) in English. A short presentation by President & CEO Jean-Marc Lulin will be followed by a Q&A session for interested investors and shareholders. Questions can also be submitted in advance at info@azimut-exploration.com .

Registration can be completed here: French Webinar / English Webinar . PROJECT UPDATES WABAMISK is emerging as a 30-kilometre-long district-scale gold exploration play following the discovery of the Fortin Zone (antimony-gold) in 2024 and the discovery of the Rosa Zone (gold) in 2025 . A major field program is underway to accelerate the assessment of this prospective corridor through extensive mechanical stripping, prospecting, soil sampling and ground geophysics (induced polarization: “IP”).

Drilling has already outlined a minimum 1,400-metre east-west gold-bearing strike at Rosa. Mechanical stripping using two excavators is confirming the continuity of this zone, exposing the gold-bearing vein system over a minimum of 450 metres, with widths up to 10 metres. The extensive sampling program will help with the design of the drill program planned for this fall.

Since the discovery of the Fortin and Rosa zones, the Company has drilled 159 core holes totalling 24,045 metres, returning very encouraging results ( see press releases of May 20 i and May 26, 2026 ii ). Additional robust gold targets, related to strong IP anomalies well correlated with pathfinder soil anomalies (arsenic and antimony), have been identified along a 12-kilometre-long segment between Rosa and Fortin, and these targets are now the subject of preliminary field assessment. Other attractive gold targets exist east of Fortin.

ELMER encompasses two major underexplored gold-copper target areas: the K2 claim block , located 11 kilometres southwest and along strike from the Patwon gold deposit, and the Wolf-A21 trend , a 7-kilometre-long copper-zinc-gold-silver target. Both areas contain numerous high-grade showings but have seen only limited historical drilling. Fieldwork this summer will include mechanical stripping, geological mapping, and extensive rock sampling to prepare for a drilling campaign.

The first phase of the planned 10,000-metre drilling program at the Patwon gold deposit (10 holes totalling 5,407 m) has been recently completed. It was designed to expand the mineralized body along strike (results pending). The 2023 mineral resource estimate (Indicated Resource of 311,200 oz in 4.99 Mt grading 1.93 g/t Au; Inferred Resource of 513,900 oz in 8.22 Mt grading 1.94 g/t Au) used a gold price of US$1,800 per ounce.

Current gold prices strongly support additional drilling to increase the resource base and, contingent on positive results, to advance the project toward an updated resource estimate and a preliminary economic assessment ( see press release of January 22, 2026 iii ). KUKAMAS hosts the high-grade nickel-PGE Perseus Zone , discovered in 2024. KGHM International Ltd. has now earned a 50% interest in the project and has entered the second option phase ( see press release of February 26, 2026 iv ).

The ongoing partner-funded program is primarily focused on expanding the Perseus Zone through drilling. The field program is underway, and a detailed description of the planned work will be provided shortly. NORTHERN NICKEL CORRIDOR (“NNC”) represents the northern part of a large project generated by Azimut using predictive mineral potential modelling to unlock the nickel potential of the James Bay region.

SOQUEM recently entered a strategic alliance with Azimut covering the NNC project. The project comprises 27 claim blocks (1,635 claims covering 821.7 km²) distributed across a region extending 360 kilometres east-west by 60 kilometres north-south ( see press release of May 19, 2026 v ). Preparatory tests are currently underway for the upcoming 6,591 line-kilometre high-resolution heliborne magnetic and electromagnetic survey.

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 the Company. He is acting as Azimut’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 controls strategic land positions for gold, copper, nickel and lithium in Quebec. Azimut is focused on several key high-impact projects: Wabamisk and Wabamisk East (100% Azimut), which host the Fortin Zone (antimony-gold), Rosa Zone (gold) and Lithos Zone (lithium); Elmer (100% Azimut), which hosts the resource-stage Patwon Deposit (gold) (311,200 oz Indicated and 513,900 oz Inferred vi ); and Kukamas (KGHM option), which hosts the Perseus Zone (nickel-PGE). 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. Azimut has two strategic investors among its shareholders, Agnico Eagle Mines Limited and Centerra Gold Inc. , which hold approximately 11% and 9.9%, respectively, of the Company’s issued and outstanding shares.

Contact and Information Jean-Marc Lulin, President and CEO Tel.: (450) 646-3015 – Fax: (450) 646-3045 Jonathan Rosset, Vice President Corporate Development Tel.: (604) 202-7531 info@azimut-exploration.com          www.azimut-exploration.com Cautionary note regarding forward-looking statements This press release contains forward-looking statements, which reflect the Company’s current expectations regarding future events related to the Wabamisk, Elmer, Kukamas and Northern Nickel Corridor projects. To the extent that any statements in this press release contain information that is not historical, the statements are essentially forward-looking and are often identified by words such as “consider”, “anticipate”, “expect”, “estimate”, “intend”, “project”, “plan”, “potential”, “suggest” and “believe”. The forward-looking statements involve risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements.

Many factors could cause such differences, particularly volatility and sensitivity to market metal prices, the impact of changes in foreign currency exchange rates and interest rates, imprecision in reserve estimates, recoveries of gold and other metals, environmental risks including increased regulatory burdens, unexpected geological conditions, adverse mining conditions, community and non-governmental organization actions, changes in government regulations and policies, including laws and policies, global outbreaks of infectious diseases and failure to obtain necessary permits and approvals from government authorities, as well as other development and operating risks. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this document. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, other than as required to do so by applicable securities laws.

The reader is directed to carefully review the detailed risk discussion in our most recent Annual Report filed on SEDAR+ for a fuller understanding of the risks and uncertainties that affect the Company’s business. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. ______________________ i Azimut Continues to Expand the Fortin Antimony-Gold Zone, Wabamisk Property, James Bay Region, Québec ii Azimut Drills 46.41 g/t Au over 3.50 m, incl. 155 g/t Au over 1.0 m on Rosa Zone, Wabamisk Property, James Bay, Québec iii Azimut to Conduct 10,000-metre Drill Program to Expand the Patwon Gold Deposit on the Elmer Property, James Bay region, Québec iv Azimut and KGHM Expand the High-Grade Nickel-PGE Perseus Zone, Kukamas Property, James Bay Region, Quebec v Azimut and SOQUEM Sign Definitive Agreement for the Northern Nickel Corridor Project vi Technical Report and Initial Mineral Resource Estimate for the Patwon Deposit, Elmer Property, Québec, Canada , prepared by Martin Perron, P.Eng., Chafana Hamed Sako, P.Geo., Vincent Nadeau-Benoit, P.Geo. and Simon Boudreau, P.Eng. of InnovExplo Inc., dated January 4, 2024. The initial MRE comprises Indicated resources of 311,200 ounces in 4.99 million tonnes grading 1.93 g/t Au and Inferred resources of 513,900 ounces in 8.22 million tonnes grading 1.94 g/t Au.

Globe Newswire June 30, 2026 - 3:30 AM PDT News by QuoteMedia www.quotemedia.com