202620 releases
Azimut’s New Exploration Results Support Large-Scale Gold Vein Field at Wabamisk
Azimut Exploration reports that a 3-kilometre by 5-kilometre gold-bearing vein field has been recognized over the Rosa-Dome Sector at its Wabamisk Property in Québec's James Bay region, with the area largely untested by drilling. A new gold showing, Ginger, returned up to 3.71 g/t Au in grab samples and 1.40 g/t Au over 2.0 m in a channel sample, and the company plans a minimum 7,000-metre diamond drilling program later this year.
Drill resultsAzimut and Centerra Amend Option Agreement for the Corvet and Kaanaayaa Properties
An amendment to the option agreement with a wholly owned subsidiary of Centerra Gold Inc. on the Corvet and Kaanaayaa properties in the Eeyou Istchee James Bay region of Quebec reduces Year 6 minimum exploration expenditures under the second option phase from $1,500,000 to $1,250,000, lowering second-option minimum expenditures from $10,000,000 to $9,750,000 and total expenditures for Centerra to earn up to 70% from $16,000,000 to $15,750,000. Cash payments of up to $850,000 and all other material terms are unchanged, subject to TSX Venture Exchange acceptance.
AcquisitionAzimut and Centerra Sign Option Agreement for the Corvet and Kaanaayaa Properties
A definitive option agreement with a subsidiary of Centerra Gold covers the Corvet and Kaanaayaa properties (556.3 km², 1,082 claims) in the Eeyou Istchee James Bay region, Quebec. Centerra can earn 51% over four years by funding $6,000,000 in exploration and paying $250,000, with $1,250,000 firm, then a further 19% (70% total) over six years by delivering a PEA with a minimum 1 Moz AuEq resource, spending $10,000,000 and paying up to $600,000. Centerra holds about 12.67% of Azimut, making this a related-party transaction.
AcquisitionAzimut Accelerates District-Scale Gold Exploration at Wabamisk
Channel sampling at the Rosa Zone on the wholly owned Wabamisk Property in Québec's Eeyou Istchee James Bay region returned 562 sawed samples over 540.9 metres from 101 channels, with 64 samples above 1.0 g/t Au and 14 above 5.0 g/t Au, including 34.0 g/t Au over 3.0 m and 3.03 g/t Au over 5.0 m. Reconnaissance prospecting west of Rosa identified three new gold showings, with grabs up to 2.88 g/t Au. A minimum 7,000-metre diamond drilling program along the 30 km by 2 to 2.5 km corridor is planned to start later this year.
Drill resultsAzimut Closes $7 Million Private Placement Financing with Participation of Key Existing Shareholders
A non-brokered private placement closed on August 18, 2026 for approximately $7 million, comprising 6,038,647 flow-through shares at $0.828 for $5,000,000 and 3,333,332 common shares at $0.60 for $2,000,000, leaving 110,311,289 shares outstanding. Centerra Gold increased its interest from 9.84% to 12.67% via 4,038,647 shares, becoming an insider, while Agnico Eagle, CDPQ Sodémex, Fonds de solidarité FTQ, Desjardins, NQ Mining and SIDEX also participated. Proceeds will advance the Wabamisk and Elmer properties in Quebec.
FinancingAzimut Announces $7 Million Private Placement Financing
A non-brokered private placement for total proceeds of up to $7,000,000 is planned, comprising 6,038,647 flow-through shares at $0.828 each and 3,333,333 common shares at $0.60 each. Flow-through proceeds will fund Canadian exploration expenses incurred on or before December 31, 2027, renounced effective December 31, 2026, primarily advancing the Elmer and Wabamisk properties in Quebec. Closing is expected on or about August 10, 2026, with a 6% finder's fee payable and a four-month-and-one-day hold period.
FinancingAzimut and KGHM Launch 2026 Campaign at Kukamas
A $3.4-million partner-funded 2026 exploration program is starting on the Kukamas Property in the Eeyou Istchee James Bay region of Quebec, including 5,000 metres of diamond drilling to expand the Perseus nickel-PGE Main and East zones, trenching, mapping and a heliborne magnetic-electromagnetic survey. A completed induced polarization survey covering 22.57 line-kilometres defined chargeability anomalies south and southeast of Perseus as drill targets. KGHM has earned 50% and elected the second option phase to earn an additional 20%; Azimut remains operator.
Drill resultsAzimut Drills High-Grade Lithium Pegmatites at Wabamisk East
Results from the maiden five-hole, 650 m diamond drilling program on the Lithos pegmatite field at the wholly owned Wabamisk East Property (205 claims, 108.5 km²) in Eeyou Istchee James Bay, Quebec, show all five holes intersected lithium pegmatite. Hole WL25-01 returned 1.87% Li2O over 36.30 m from 41.0 m, and WL25-02 returned 2.20% Li2O over 23.05 m from 52.35 m, including 3.40% Li2O over 4.45 m. Rio Tinto funded the drilling and terminated its option on December 31, 2025; the 2026 program will focus on nearby gold targets.
Drill resultsAzimut Provides 2026 Summer Exploration Update
Summer field programs are underway on four James Bay, Quebec projects. At Wabamisk, mechanical stripping has exposed the Rosa gold-bearing vein system over a minimum of 450 metres with widths up to 10 metres, within a 1,400-metre drilled strike, ahead of fall drilling; 159 holes totalling 24,045 metres have been drilled since the Fortin and Rosa discoveries. The first phase of Elmer's 10,000-metre Patwon program is complete (10 holes, 5,407 m, results pending). Kukamas drilling is KGHM-funded, and a 6,591 line-kilometre heliborne survey is planned on the Northern Nickel Corridor.
Drill resultsAzimut Adopts Semi-Annual Financial Reporting
Semi-annual financial reporting has been adopted under Coordinated Blanket Order 51-933, which permits eligible venture issuers to move from quarterly to semi-annual reporting. Azimut will no longer file interim financial statements and MD&A for the three-month period ending November 30 and the nine-month period ending May 31, beginning with the nine-month period ended May 31, 2026. It will continue filing audited annual statements within 120 days of its August 31 year-end and six-month interim reports within 60 days of the period ended the last day of February.
CorporateAzimut 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
Drilling at the Rosa gold zone on the wholly owned Wabamisk Property in Eeyou Istchee James Bay, Québec returned 46.41 g/t Au over 3.50 m, including 155.0 g/t Au over 1.00 m, in hole WR26-40, plus 4.84 g/t Au over 6.00 m in WR26-43 and 0.90 g/t Au over 15.00 m in WS26-46. The second campaign comprised 20 holes for 3,018.2 m, outlining a minimum 1,400-metre east-west strike and a second subparallel trend confirmed over 750 m. Mechanical stripping is planned for early summer, with further drilling later in the summer.
Drill resultsAzimut Continues to Expand the Fortin Antimony-Gold Zone, Wabamisk Property, James Bay Region, Québec
Results from a third drilling program of 27 holes (5,108 m) on the Fortin antimony-gold zone at the wholly owned Wabamisk Property in the Eeyou Istchee James Bay region, Québec, include 0.87% Sb and 0.13 g/t Au over 12.50 m, 0.41% Sb and 0.13 g/t Au over 30.55 m, and 0.54% Sb over 17.00 m. The subparallel Fortin South gold zone returned 4.66 g/t Au over 6.00 m, including 26.70 g/t Au over 1.00 m, and has been traced over a minimum 1,300-metre strike. The Fortin Zone now spans at least 1.8 kilometres and remains open at depth.
Drill resultsAzimut and SOQUEM Sign Definitive Agreement for the Northern Nickel Corridor Project
A definitive agreement with SOQUEM Inc. covers 27 claim blocks (1,635 claims) forming the Northern Nickel Corridor Project in the Eeyou Istchee James Bay region of Quebec, under which SOQUEM can earn up to a 60% interest by incurring $11,000,000 in exploration expenditures and paying $350,000 in cash. An initial 50% interest is available over 3 years for $5,000,000 in expenditures and $200,000 in payments, with the first $2,000,000 a firm commitment. A high-resolution magnetic-electromagnetic heliborne survey is planned for 2026, followed by field target validation.
AcquisitionAzimut and SOQUEM Sign a Letter of Intent for the Northern Nickel Corridor Project
A non-binding letter of intent with SOQUEM Inc. gives SOQUEM the right to earn up to a 60% interest in the Northern Nickel Corridor Project — 27 claim blocks (1,635 claims, 821.7 km²) in the Eeyou Istchee James Bay region of Quebec — by incurring $11,000,000 in exploration expenditures and paying $350,000 in cash. A first option covers 50% over 3 years for $5,000,000 and $200,000, with the initial $2,000,000 a firm commitment. A high-resolution magnetic-electromagnetic heliborne survey is planned for 2026.
AcquisitionAzimut Reports AGM Results and Provides Drilling Update
Shareholders approved all matters at the February 26, 2026 AGM, electing all seven directors and appointing auditors, with 68,381,133 shares voted, or 67.95% of outstanding shares. Drilling at the Fortin antimony-gold zone on the wholly owned Wabamisk project in Quebec was completed at 5,105 metres in 27 holes, with assays pending; hole WS26-113 hit the mineralized albitic unit from 537.4 to 557.5 metres and native gold grains at 521 metres. Four holes totalling 736 metres are done at the Rosa gold zone toward a minimum 2,000 metres, a 10,000-metre program starts at Elmer, and at least 20,000 metres of drilling is expected in 2026.
CorporateAzimut and KGHM Expand the High-Grade Nickel-PGE Perseus Zone, Kukamas Property, James Bay Region, Quebec
The 2025 drilling program at the Kukamas Property in Quebec's Eeyou Istchee James Bay region — 14 holes totalling 3,803.8 metres — returned 4.27% Ni, 0.45% Cu and 2.63 g/t PGE over 8.60 m in hole KUK25-013, 1.41% Ni and 0.85 g/t PGE over 15.25 m in KUK25-010, and 1.77% Ni and 1.04 g/t PGE over 7.50 m in KUK25-012. The Perseus Main Zone is now defined over a 135-metre strike extent to 100 metres vertical depth. KGHM has earned a 50% interest after funding more than $5.0 million and has elected to enter a second option to earn an additional 20%.
Drill resultsAzimut Completes Galinée Property Transaction with LiFT Power, James Bay Region, Quebec
LiFT Power Ltd. has closed its acquisition of Azimut's 50% interest in the Galinée Property in the Eeyou Istchee James Bay region of Quebec, issuing 2,000,000 common shares. Azimut also received a 1.4% NSR royalty on the property and is entitled to a $1,500,000 deferred payment in cash or LiFT shares at the earlier of 18 months or public disclosure of a technical report including an economic analysis. Total consideration is $13,400,000 based on LiFT's February 17, 2026 closing price.
AcquisitionAzimut Confirms Significant Gold Discovery at Rosa, Wabamisk Property, James Bay, Québec
A maiden 3,633-metre, 26-hole drill program at the Rosa Zone on the wholly owned Wabamisk Property in Eeyou Istchee James Bay, Québec returned 1.29 g/t Au over 28.80 m including 3.26 g/t Au over 9.35 m in hole WR25-03, and 2.10 g/t Au over 10.50 m including 10.84 g/t Au over 1.50 m in WS25-04. The gold zone is traced over a minimum 1,400-metre east-west strike, open along strike and at depth. A minimum 2,000-metre follow-up drill program is underway.
Drill resultsAzimut to Conduct 10,000-metre Drill Program to Expand the Patwon Gold Deposit on the Elmer Property, James Bay region, Québec
A 10,000-metre diamond drill program is planned to expand the Patwon gold deposit and test nearby targets on the wholly owned Elmer Property in the Eeyou Istchee James Bay region, Québec, following an internal scoping study completed in 2025. Contingent on positive results, an updated NI 43-101 resource estimate and a preliminary economic assessment would follow, along with metallurgical, geotechnical, environmental and infrastructure studies. The 2023 MRE at US$1,800/oz gold reported 311,200 indicated ounces (4.99 Mt at 1.93 g/t Au) and 513,900 inferred ounces (8.22 Mt at 1.94 g/t Au).
Drill resultsAzimut Advances Major Fortin Antimony-Gold Zone, Wabamisk Property, James Bay Region, Québec
A minimum 5,000 metre, two-rig diamond drilling program has begun on the Fortin antimony-gold zone at the wholly owned Wabamisk Property in the Eeyou Istchee James Bay region, Québec, where drilling has outlined a 1.8-kilometre-long body to 250 metres vertical depth, open in all directions. Final assays from the 35-hole (5,890 m) second delineation phase include 0.24% Sb over 23.5 m in hole WS25-74 and 0.19% Sb over 13.15 m in WS25-84. SGS Canada has been mandated for initial metallurgical tests and a market demand assessment.
Drill results
202511 releases
Azimut Grants Stock Options
A total of 1,115,000 stock options were granted on December 29, 2025 as part of Azimut Exploration's year-end compensation review, with 1,020,000 going to directors and officers and 95,000 to employees and consultants. The options carry an exercise price of $0.79 per share and are exercisable over a 10-year period.
CorporateAzimut agrees to sell its interest in the Galinée Property to LiFT Power, James Bay Region, Quebec
An acquisition agreement has been signed with LiFT Power Ltd. to sell Azimut's 50% interest in the Galinée Property in the Eeyou Istchee James Bay region of Quebec for 2,000,000 LiFT common shares. Azimut retains a 1.4% NSR royalty and is entitled to a $1,500,000 deferred payment in cash or LiFT shares at the earlier of 18 months or public disclosure of a technical report including an economic analysis. Based on LiFT's December 23, 2025 closing price, consideration totals approximately $10,300,000. Closing is subject to TSXV approval.
AcquisitionAzimut Further Defines Extensive High-Grade Lithium Pegmatite Field at Wabamisk East, James Bay Region, Quebec
Results from the 2025 program at the 100%-owned Wabamisk East property in Quebec's Eeyou Istchee James Bay region identified at least 138 spodumene-bearing outcrops, with 340 of 493 samples collected since 2024 grading above 0.5% Li₂O for an average of 1.94% Li₂O, up to 7.42% Li₂O. Channel composites included 2.53% Li₂O over 7.0 m and 1.90% Li₂O over 11.0 m. Five drill holes totalling 615 m cut spodumene pegmatite intervals, including 37.55 m, with assays pending. Rio Tinto, which funded the work, intends to terminate its option agreement on December 31, 2025.
Drill resultsAzimut and SOQUEM to Participate in LiFT Power’s Consolidation of the Galinée-Adina Lithium District in the James Bay Region of Quebec
A non-binding letter of intent has been signed with SOQUEM to sell an aggregate 75% interest in the Galinée Property (649 claims, 335 km2) in Quebec's Eeyou Istchee James Bay region to LiFT Power Ltd. LiFT would issue 2,000,000 shares to Azimut for its 50% interest and 1,000,000 shares to SOQUEM for 25%; Azimut retains a 1.4% NSR royalty plus a $1,500,000 deferred payment due at the earlier of a preliminary economic study or 18 months. Completion requires definitive agreements and TSXV approval.
AcquisitionAzimut Identifies Visible Gold in 11 Drill Holes on the Rosa Zone, Wabamisk Project, James Bay, Québec
Visible gold was observed in 11 of 26 holes from the completed maiden drill program on the Rosa Zone at the wholly owned Wabamisk Property in Eeyou Istchee James Bay, Québec, where 3,633 metres were drilled versus an initial 1,500-metre plan. Down-hole visible gold occurrences preliminarily define an east-west envelope 200 metres long by 100 metres wide, within a 700-metre trend of gold-bearing outcrops and IP anomalies over at least 1.4 kilometres. Assays are pending, with expanded drilling planned early next year.
Drill resultsAzimut and SOQUEM sell their Pikwa Property to PMET Resources, James Bay Region, Quebec
Azimut Exploration and SOQUEM have signed a Sale and Purchase Agreement selling their 50/50 Pikwa Property (509 claims, 261 km2) in the Eeyou Istchee James Bay region of Quebec to PMET Resources, which will acquire 100% by issuing 420,958 shares to each party, totalling $3.1 million based on PMET's 20-day VWAP, with each vendor retaining a 1.0% NSR royalty. Closing is subject to TSX approval. Azimut also increased shares reserved under its stock option plan by 1,862,000 to 10,052,000.
AcquisitionAzimut Obtains High-Grade Gold Results from Channel Sampling on the Rosa Zone, Wabamisk Project, James Bay, Quebec
Channel sampling on the newly discovered Rosa Zone at the wholly owned Wabamisk Property in Eeyou Istchee James Bay, Québec, returned 30.17 g/t Au over 4.0 m, including 111.5 g/t Au over 1.0 m, 23.0 g/t Au over 3.0 m including 45.8 g/t Au over 1.0 m, and 9.29 g/t Au over 5.0 m; grab samples reached 93.9 g/t Au over 0.35 m. Five of ten holes (1,362 m) drilled show visible gold, and the initial 1,500-metre program has been increased to at least 2,000 metres, with assays pending.
Drill resultsAzimut Defines Antimony-Gold Zone over 1.8 km Strike and 250 m Depth, Open in All Directions, on the Wabamisk Property, James Bay, Québec
Delineation drilling on the Fortin antimony-gold zone at the wholly owned Wabamisk Property in Eeyou Istchee James Bay, Québec, has outlined a 1.8-kilometre-long mineralized body to 250 metres vertical depth, open in all directions. Results for 28 of 35 holes (4,584 m of 5,890 m) include 0.89% Sb and 0.65 g/t Au over 41.9 m in hole WS25-67, 0.73% Sb over 39.2 m in WS25-85, and 0.56% Sb over 27.0 m in WS25-86. Metallurgical testing is underway and drilling is expected to resume early next year with an initial 5,000 m planned.
Drill results