Azimut Exploration Inc. reported that the Company has conducted an in-depth review of the lithium exploration potential at the scale of the Eeyou Istchee James Bay region, where the Company holds an extensive multi-commodity property portfolio. Six of the Company's properties described below (3,370 claims covering 1,741 km) have been identified as highly prospective for lithium. Key Advantages of the Province of Quebec and the Eeyou Istchee James Bay Region The Province of Quebec is recognized as one of the best mining jurisdictions in the world.

The key advantages of the James Bay region are the quality of its infrastructure (major road access, hydro-electric power grid, airports), the supportive relationship with the Cree First Nation, the excellent geoscientific database, a favourable Archean geological setting with already known lithium deposits, and an early exploration stage. PROPERTY SUMMARY Azimut assessed the lithium potential of the Pikwa, Corvetand Kaanaayaa properties as part of a district-scale analysis covering an area of 80 by 30 kilometres (2,400 km). The assessment used publicly available data, including regional and detailed multi-element lake-bottom sediment geochemistry, lithogeochemistry, and regional geological and magnetic data.

All three properties were initially acquired for their gold-copper potential, which also warrants further exploration. A smaller claim block, JBN-57 (39 claims, 20 km), part of Azimut's regional James Bay Nickel project, is also located in this area. The Pikwa and Galinée properties are part of a Strategic Alliance concluded in 2016 with SOQUEM, initially dedicated to gold exploration in the James Bay region.

SOQUEM is a subsidiary of Investissement Québec with a mission to promote the exploration, discovery and development of the province's mineral resources. The Pikwa Property (509 claims, 261 km) is a 32-kilometre-long project located immediately west of the Corvette Property belonging to Patriot Battery Metals. Geologic and magnetic data strongly suggest the existence of a 14-kilometre-long strike extension onto Pikwa of the same geologic trend hosting the spodumene-bearing pegmatite bodies on Corvette.

Rock sampling data from Pikwa, acquired during exploration programs not focused on lithium, returned highly anomalous values in lithium (up to 447 ppm Li) and other associated pathfinder elements, including tantalum (up to 79.2 ppm Ta), cesium (up to 167 ppm Cs) and rubidium (up to 960 ppm Rb). This range of values can be indicative of proximal lithium mineralization. The lake sediment footprints for lithium and other pathfinder elements—Cs, Rb, Gallium (Ga), Tin (Sn)—roughly coincide with the favourable geologic trend, further underscoring the property's strong potential for lithium exploration.

The Corvet Property (549 claims, 282 km2) has a 33-kilometre strike length and straddles a major tectonic boundary. The main geological features are several granitic intrusions surrounded by paragneiss. The property covers an outstanding exploration target represented by an extensive and prominent 26-kilometre-long lithium anomaly in lake sediments coupled with strong Rb, Cs, Ga and Sn footprints.

The Kaanaayaa Property (421 claims, 216 km) has a 25.6-kilometre strike length and hosts several granitic intrusions surrounded by paragneiss and metavolcanics, including ultramafic rocks. Several coincidental Li-Cs-Rb-Ga anomalies have been identified from detailed multi-element lake sediment geochemistry. The Galinée Property (562 claims, 290 km) has a 33-kilometre strike length and hosts granitic intrusions surrounded by sheared mafic metavolcanics and gabbro.

Winsome Resources recently disclosed an intercept grading 1.34% Li2O over 107.6 m in the southern part of their Adina Property, immediately adjacent to the Galinée Property. Based on publicly available data,  one mineralized hole drilled on Adina appears to have reached the Galinée boundary. Azimut's management considers it very likely that comparable pegmatite bodies are present on Galinée. This view is supported by the geology and lake sediment data collected by Azimut and SOQUEM.

Azimut has reprocessed detailed and regional lake sediment data over an area of 60 by 50 kilometres (3,000 km) covering the Galinée and Adina properties and their surroundings. The northern part of Galinée is marked by a strong lithium footprint, spatially associated with well-defined  anomalies in Cs, Rb, Ga and Sn, all of which are pathfinder elements for spodumene-bearing pegmatites. The James Bay Lithium Project (16 claim blocks, 1,290 claims, 672 km) covers strong regional Li, Cs, Rb, Ga and Sn anomalies in lake sediments that may reveal significant spodumene-bearing pegmatite bodies in close vicinity (classically at the kilometre scale or less).

These claim blocks can be efficiently assessed using exploration protocols already implemented by Azimut at the scale of the James Bay region, notably through infill lake bottom surveys, advanced data processing and prospecting work. Azimut's Lithium Potential Assessment using AZtechMine Azimut's completed a lithium potential assessment covering 1,169,080 km at the scale of the province of Quebec and over 154,555 km at the scale of the James Bay region. This predictive modelling applied to mineral exploration—the Company's core expertise—is supported by Quebec's world-class governmental digital database.

Already known lithium deposits and major occurrences are widely distributed across the region. Azimut has characterized the footprint of most of these sites using AZtechMine. This regional analysis extracted many prospective targets with even stronger footprints, most of which Azimut has acquired but will need to validate through fieldwork.

Based on this assessment, the James Bay region truly appears to be an emerging mineral province for lithium. The region shares several features in common with large spodumene-bearing pegmatite districts worldwide, especially Western Australia, with comparable tectono-metamorphic frameworks, ages and host lithologies.