Core Viewpoint - Azimut Exploration Inc. held its Annual General Meeting (AGM) on February 26, 2026, where shareholders approved all resolutions, including the election of directors and the appointment of auditors, reflecting strong shareholder support and confidence in the company's strategic direction for 2026 [1][2][3]. Voting Results - A total of 68,381,133 shares were voted, representing 67.95% of the issued shares - All directors were elected with high approval rates, including: - Glenn J. Mullan: 99.53% approval - Jean-Marc Lulin: 99.77% approval - Jean-Charles Potvin: 99.68% approval - Jacques Simoneau: 99.72% approval - Michel Brunet: 99.75% approval - Christiane Bergevin: 99.78% approval - Vanessa Laplante: 99.84% approval - The appointment of auditors received 99.85% approval [1]. Strategic Update - President and CEO Jean-Marc Lulin outlined the company's strategy for 2026, focusing on self-funded exploration programs at flagship projects Wabamisk and Elmer - Azimut plans to complete at least 20,000 metres of drilling this year, emphasizing its commitment to advancing high-priority projects and delivering value to shareholders [3]. Exploration & Portfolio Update - **Wabamisk**: Recent drilling at the Fortin Zone (5,105 metres) revealed encouraging results, including the discovery of native gold grains at a depth of 521 metres, indicating potential vertical zonation of antimony to gold [4] - **Rosa Zone**: Active drilling has reached 736 metres with a minimum of 2,000 metres planned for 2026, following a successful maiden program that confirmed a significant gold discovery [5] - **Elmer**: A 10,000-metre drill program is set to commence, aimed at expanding the resource base, with the project being significantly underexplored [6]. Portfolio Management - The company is streamlining its project portfolio, focusing on high-impact projects while pursuing select option agreements and divestitures to enhance efficiency and maximize asset value for shareholders [7]. Company Overview - Azimut is recognized for its extensive mineral project portfolio in Quebec, specializing in gold, copper, nickel, and lithium exploration - The company employs a data-driven approach to exploration, utilizing its proprietary AZtechMine™ system to maintain a competitive edge [9]. - Strategic investors include Agnico Eagle Mines Limited and Centerra Gold Inc., holding approximately 11% and 9.9% of the company's shares, respectively [10].

Core Insights - Azimut Exploration Inc. has initiated a 4,000-metre diamond drilling program to further define the Perseus high-grade nickel-PGE discovery and explore additional targets on the Kukamas Property in Quebec, Canada [1][2] Drilling Program Objectives - The drilling program aims to expand the Perseus Zone at depth and along strike with 2,200 metres of drilling, as well as to test new targets north of Perseus along a 1.6-kilometre geological trend with 1,200 metres of drilling [4] Previous Discoveries - Significant results from the Perseus Zone include: - Surface channel 1: 2.98% Ni, 0.32% Cu, 2.25 g/t PGE over 8.0 m, with a peak of 3.74% Ni over 6.0 m - Hole KUK24-002: 8.42% Ni, 0.55% Cu, 7.25 g/t PGE over 1.9 m - Hole KUK24-007: 6.06% Ni, 0.38% Cu, 3.34 g/t PGE over 2.6 m, including 19.6% Ni over 0.75 m [3][4] Geological Context - The Kukamas Property covers a strike length of 41 kilometres and includes 665 claims over 337.8 square kilometres, benefiting from major infrastructure and proximity to regional transport [5] - The Perseus Complex is characterized by komatiitic sequences with high MgO content, indicating a fertile system similar to the Kambalda type nickel deposits in Australia [4][11] Project Management and Analysis - Orbit Garant Drilling Inc. is conducting the drilling program, with samples sent to ALS Laboratories for a comprehensive analysis of various elements [6][7] - The project is managed by Rock Lefrançois, Vice-President Exploration at Azimut, with Dr. Jean-Marc Lulin acting as the qualified person for the technical information disclosed [8][9] Partnership and Financial Aspects - Azimut has an option agreement with KGHM International Ltd, allowing KGHM to acquire a 50% interest in the Property by funding $5 million in work expenditures over four years [12]

Core Insights - Azimut Exploration Inc. has announced a revised option agreement with Rio Tinto Exploration Canada, expanding previous agreements to cover three properties in Quebec, namely Corvet, Kaanaayaa, and Wabamisk East [1][4] Properties under Option - The CKW Properties are identified as having lithium exploration potential, supported by regional geoscientific data and prospecting results [4] - The Wabamisk East Property includes 200 claims over 105.8 km and features a spodumene pegmatite field with high-grade lithium results, including up to 7.43% Li2O from surface sampling [4] - The Wabamisk East Property is strategically located 42 kilometers northeast of the Whabouchi lithium deposit [4] Financial Terms of the Agreement - Under the first phase, Rio Tinto can acquire a 50% interest in the CKW Properties by funding $25 million in exploration expenditures, with $1.85 million already incurred and cash payments totaling $1.7 million before December 31, 2028 [5] - The remaining commitment includes approximately $1.15 million to be spent by the end of 2025 and potential expenditures of $3 million for detailed mapping and drilling [5] - In subsequent years, minimum expenditures of $3 million, $4 million, and $12 million are required on the CKW Properties, along with annual cash payments of $300,000 [5] Future Options - In the second phase, Rio Tinto can earn an additional 20% interest over five years with further expenditures of $60 million, during which Rio Tinto will act as the operator [5] - Azimut retains the right to be funded to production through a secured loan from Rio Tinto, granting Rio Tinto an additional 5% interest in the CKW Properties [5] Company Overview - Azimut is recognized as a leading mineral exploration company with a strong reputation for target generation and partnership development, holding the largest mineral exploration portfolio in Quebec [8] - The company's flagship project, the Elmer Gold Project, has significant resources and exploration upside, with planned activities in 2025 across multiple projects [9]