Azimut Discovers High-Grade Antimony Zone on the Wabamisk Gold Property, James Bay Region, Quebec

New diamond drilling program and metallurgical testing underway. Market study initiated for antimony products from Fortin Zone. LONGUEUIL, Quebec, January 21, 2026 (GLOBE NEWSWIRE) — Exploration Azimut Inc. ("Azimut" or the "Company") (TSXV: AZM) (OTCQX: AZMTF) announces the start of a new diamond drilling program of at least 5,000 m on the Fortin Zone (antimony-gold) on its Wabamisk Property (the "Property"), 100% owned, located in the Eeyou Istchee Baie James region (Baie James) in Quebec, Canada. Fortin Zone stands out as one of the most significant antimony-mineralized systems in Canada. Drilling to date outlines an antimony-gold mineralized body about 1.8 km long, remains open down-dip to a vertical depth of 250 m and open in all directions. Since its discovery by prospecting in 2024, the Company has drilled 86 holes (12,286 m) on the Fortin Zone and nearby targets. A distinct gold target located immediately south and subparallel to Fortin is also being defined by drilling. In addition, Azimut drilled 26 holes (3,633 m) last year on the Rosa (gold) Zone, results pending. Rosa is located 15 km west of Fortin. 2026 Outlook: An integrated exploration program aims to accelerate project development. Drilling: The phase of drilling of at least 5,000 m, with two rigs, aims to: - Extend the mineralized body in depth and laterally; and - Better define high-grade lenses with detailed and intermediate drill holes. One of the main objectives is to test Fortin at depth to identify the possibility of gold enrichment related to vertical antimony–gold zoning, observed in several deposits worldwide. A preliminary 3D model of the mineralized body is in progress. Metallurgical testing and market studies: SGS Canada has been commissioned to perform initial metallurgical tests on the Fortin mineralized material and to assess global demand for this product. Evaluation of new gold targets: The significant results obtained since 2024 support a comprehensive reassessment of the Property’s gold potential. Ground geophysics, prospecting and drilling work are planned on priority targets. One of the highly attractive targets identified is a 15 km long underexplored sector between the Fortin and Rosa zones (see figure 5). Key results (see Figures 1–8, Tables 1 and 2). The press release presents highlights from the second delineation phase, including final results (see Table 1). Earlier drilling and trench sampling results were disclosed in the press releases of October 29, 2024; January 16, 2025; May 22, 2025. The 35 holes (5,890 m) in this second phase were drilled with an average spacing of 100 m laterally and up to a maximum vertical depth of 250 m. Nineteen holes contain antimony grades above 0.2% Sb, including 19 holes with gold grades above 0.5 g/t Au. The new results include: [table data in the original] The gold target located 110 m south of Fortin is delineated over a minimum 400 m-long segment, with a strong dip to the south. Gold grades are associated with arsenopyrite disseminated to semi-massive in shear-hosted metasediments. The target appears correlated with induced polarization anomalies and soil arsenic anomalies. The best results include: [table data in the original] Preliminary geometry of Fortin Zone: Length at least 1.8 km, within a wider corridor of 2.4 km; thickness ranges 5–50 m with an average around 25 m; dip ~70–75 degrees south; vertical extension tested from surface to 250 m; zone open at depth. Mineralized system and geological context: The antimony–gold mineralization is hosted in an albitic alteration zone within a thick metasedimentary sequence. Observations document strong albite alteration, largely replacing host rocks, likely controlled by initial porosity and fracturing. The albitic unit has been intersected by 77 holes over a 2.65 km lateral distance. The lateral continuity suggests kilometer-scale vertical extent. The project remains open laterally and down-plunge. Sulfides (berthierite FeSb2S4, gudmundite FeSbS, stibnite Sb2S3) are associated with quartz vein networks and breccia facies within the albitic unit, commonly with arsenopyrite, pyrrhotite and pyrite. Sericite is the main alteration mineral locally accompanied by chlorite, epidote and carbonate. Massive to semi-massive mineralizations are found on the south flank of the sill at the contact with less altered enclosing metasédiments (largely siltstones). The north contact is also mineralized but appears less continuous in the drilled zones. Quartz veins are mainly subparallel to the east-west schistosity. The contrast between the brittle albitic unit and the more ductile metasédiments appears to be a key control on the mineralization at Fortin. Antimony-rich systems are unusual in the Quebec Archean context. The Wabamisk albitic mineralized unit sits along the major tectono-metamorphic boundary separating the La Grande volcanic-plutonic subprovince from the Opinaca metasedimentary subprovince, an environment already recognized as prospective for gold, as highlighted by the Eleonore gold deposit. At Wabamisk, the antimony-rich zone could progressively transition deeper into a gold-rich zone. Mineralogical and metallurgical characterization of the mineralized material, including grinding and flotation tests, is well progressed. About Antimony: Antimony prices have been volatile due to ongoing supply shortages and trade disputes. Antimony is classified as a critical mineral by Canadian and U.S. governments and by the European Commission. About 90% of global production comes from three countries (China 60%, Tajikistan 17%, Russia 13%). Antimony is not currently produced at significant scale in Canada or the United States. In August 2024, China imposed export restrictions on antimony, causing significant supply disruptions. While some restrictions have since been lifted, antimony remains subject to broader export controls, highlighting the importance of diversifying mineral supply chains outside China. Source: USGS, Antimony Commodity Summary, January 2025. About the Wabamisk Property: Wabamisk is 100% owned by Azimut and comprises 673 claims over 356 km2. The adjacent Wabamisk East property (205 claims, 108.5 km2) is primarily explored for its lithium potential. Together, the Wabamisk and Wabamisk East projects provide a strategic 51 km long position covering one of the most prospective belts in the James Bay region. Wabamisk is located 13 km east of the Clearwater property (Fury Gold Mines), 42 km northeast of the Whabouchi lithium deposit (Rio Tinto – Nemaska Lithium), and 70 km south of the Eleonore gold mine (Dhilmar Ltd). Major power lines cross or pass near the eastern end of the Property. The North road passes 37 km to the south. The nearest community is Nemaska. Drilling contracts, analytical protocols and project management: Nouchimi / RJLL Inc. of Rouyn-Noranda, Quebec, conducts drilling with NQ core diameter. Quarter-cored samples are sent to ALS laboratories in Val-d’or or Montreal for gold analysis by fire assay with AA finish and gravimetric finish for grades above 3.0 g/t Au. Samples are also analysed for a 48-element ICP suite. Antimony is analysed by four-acid digestion with ICP-AES finish. Azimut applies standard QA/QC procedures with certified reference materials, blanks, and field duplicates in all batches. The project is led by Alain Cayer (P.Geo.), Azimut’s Projects Director. Qualified Person: Jean-Marc Lulin, geologist, President and CEO of Azimut, prepared this press release and approved the scientific and technical information, including past results supporting the figures. He is a Qualifying Person as defined by NI 43-101. About SGS: SGS is the leading provider of inspection, verification, testing and certification services. The company is widely recognized for quality and integrity. With more than 99,500 employees, SGS operates a network of over 2,500 laboratories and facilities. It combines Swiss precision with global reach to help organizations meet the highest standards of quality, compliance and sustainability. About Azimut: Azimut is a leading mineral exploration company with a strong track record of target generation and partnership development. It holds the largest portfolio of exploration projects in Quebec, and controls strategic positions for copper-gold, nickel and lithium. Azimut advances multiple high-potential projects: - Wabamisk: Fortin Zone (antimony–gold); Rosa Zone (gold) – initial drill program completed, results pending. - Wabamisk East: Lithos North & South (lithium) – initial drill program completed, results pending. - Elmer: Patwon gold deposit currently in the indicated resources and inferred resources, pending scoping studies; evaluation on the K2 area in the field. - Kukamas: Perseus Zone (nickel-copper-EGP) – drilling completed, results pending. Azimut employs a pioneering, exclusive methodology for megadata analysis (AZtechMine), supported by strong in-field exploration capabilities. The company maintains strict financial discipline. Major strategic investors include Agnico Eagle Mines Limited and Centerra Gold Inc., owning about 11% and 9.9% respectively of Azimut’s issued and outstanding shares. Contacts: Jean-Marc Lulin, President and CEO, Tel: (450) 646-3015 Jonathan Rosset, VP Corporate Development, Tel: (604) 202-7531, info@azimut-exploration.com, www.azimut-exploration.com Forward-Looking Statements: This press release contains forward-looking statements that reflect the Company’s current expectations regarding future events related to the Wabamisk Properties. These statements involve risks and uncertainties and actual results may differ. See the Company’s latest Annual Report on SEDAR+ for details. The TSX Venture Exchange and its Regulation Services Provider do not accept responsibility for the adequacy or accuracy of this release. I Azimut Discovers High-Grade Antimony Zone on the Wabamisk Gold Property, James Bay Region, Quebec II Azimut’s Initial Drill Results Indicate an Extensive Antimony Zone on the Wabamisk Gold Property, Quebec, Canada III Azimut Drills 1.1% Sb over 51.5 metres, including 3.43% Sb and 2.37 g/t Au over 6.5 metres IV Azimut Resumes Drilling to Expand the Antimony-Gold Zone on the Wabamisk Property, James Bay Region, Québec, Canada V Azimut delineates a 1.8 km long antimony-gold zone at Wabamisk property, James Bay, Quebec VI [Technical Report and Initial Mineral Resource Estimate for the Patwon Deposit, Elmer Property, Québec, Canada]