Azimut's Quebec Drill Campaign Targets Gold Corridor, Nickel Expansion

Azimut Exploration has four summer programs running across the Eeyou Istchee James Bay region of Quebec. The company is drilling at the Wabamisk gold property, the Patwon deposit on Elmer, the Kukamas nickel discovery, and the Northern Nickel Corridor.

President and CEO Jean-Marc Lulin called the 2026 field season among the most significant in the company's history. On Wabamisk, the goal is to define a 30-kilometre gold corridor. Drilling has already returned high-grade hits, including 46.41 g/t gold over 3.5 metres at the Rosa zone, with one metre grading 155 g/t. The company has completed 159 holes totalling 24,045 metres since discovering the Fortin and Rosa zones. Now it is assessing IP anomalies and soil geochemistry along a 12-kilometre segment between those two zones.

The first phase of a planned 10,000-metre drill program at the Patwon gold deposit is finished. Ten holes for 5,407 metres tested the lateral extension of the mineralised body. Results are pending. Patwon already carries an indicated resource of 311,200 ounces at 1.93 g/t gold and an inferred 513,900 ounces at 1.94 g/t. That estimate used a gold price of US$1,800 per ounce. At current gold levels, the economics support an updated resource and a preliminary economic assessment if drilling confirms more tonnes.

On the Kukamas property, Azimut is working to expand the Perseus high-grade nickel discovery. The Northern Nickel Corridor project is just starting regional target assessments.

Two major gold producers are on the shareholder list. Agnico Eagle Mines holds roughly 11% of Azimut's shares. Centerra Gold holds about 9.9%. Those stakes give both companies direct exposure to any positive drilling results. Agnico Eagle and Centerra Gold are both basic-materials names with their own Quebec operations.

Azimut is hosting a webinar today at 3 p.m. ET in French and 4 p.m. ET in English. Lulin will present, then take questions. Investors can register through the company's website or email questions in advance.