Dr. Jean-Marc Lulin reports

AZIMUT AGREES TO SELL ITS INTEREST IN THE GALINEE PROPERTY TO LIFT POWER, JAMES BAY REGION, QUEBEC

Azimut Exploration Inc. has signed an acquisition agreement with Li-FT Power Ltd. to sell its 50-per-cent interest in the Galinee property located in the Eeyou Istchee James Bay region of Quebec. This transaction was initially disclosed on Dec. 15, 2025, in conjunction with Li-FT's announcement of its proposed acquisition of Winsome Resources Ltd., the owner of the adjacent development-stage Adina property.

Under the agreement, Li-FT agreed to acquire Azimut's interest in the property by issuing two million common shares. Azimut will retain a 1.4-per-cent NSR (net smelter return) royalty on the property. In addition, Azimut will be entitled to a $1.5-million deferred payment, payable in cash or, subject to certain terms and conditions set out in the agreement, in common shares of Li-FT, at the earlier of 18 months or the public disclosure of a technical report with respect to the property that includes an economic analysis of one or more development scenarios. Based on the closing price of Li-FT's common shares on the TSX Venture Exchange on Dec. 23, 2025, the consideration receivable by Azimut in connection with this transaction amounts to approximately $10.3-million.

This transaction supports the company's strategy to focus on its high-potential flagship assets while maintaining exposure to the strengthened Galinee-Adina project through an equity stake in Li-FT and a retained royalty interest. Azimut is well positioned to advance its Wabamisk and Elmer projects in 2026, backed by a strong balance sheet, which includes a substantial equity investment portfolio. The company will provide an exploration strategy update in early 2026 once it has received the results from the programs completed in late 2025.

The parties are dealing at arm's length. The agreement is subject to customary closing conditions for a transaction of this nature, including approval from the TSX-V.

Dr. Jean-Marc Lulin, PGeo, Azimut's president and chief executive officer, prepared this press release and approved the scientific and technical information disclosed herein, including the previously reported results. He is acting as the company's qualified person within the meaning of National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Azimut Exploration Inc.

Azimut is a leading mineral exploration company with a solid reputation for target generation and partnership development. The company holds the largest mineral exploration portfolio in Quebec, controlling strategic land positions for gold, copper, nickel and lithium. Azimut is concurrently advancing several high-potential projects:

• Wabamisk (100 per cent Azimut) -- Fortin zone (antimony/gold): pending results for seven holes will be reported as soon as they are received; Rosa zone (gold): initial phase of drilling completed, assays pending;
• Elmer (100 per cent Azimut) -- Patwon gold deposit at the resource stage (311,200 ounces indicated and 513,900 ounces inferred); internal scoping study in progress; field assessment of the recently acquired K2 claim block;
• Wabamisk East -- Lithos North and South (lithium): comprehensive field evaluation completed; initial phase of drilling completed, assays pending;
• Kukamas (KGHM option) -- Perseus zone (nickel/copper/platinum group elements): drilling phase completed; pending assay results will be reported as soon as they are received.

Azimut uses a pioneering approach to big-data analytics (the proprietary AZtechMine expert system), enhanced by extensive exploration know-how. The company's competitive edge is based on systematic regional-scale data analysis. Azimut maintains rigorous financial discipline and a strong balance sheet.

Azimut has two strategic investors among its shareholders, Agnico Eagle Mines Ltd. and Centerra Gold Inc., which hold approximately 11 per cent and 9.9 per cent, respectively, of the company's issued and outstanding shares.

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