Mr. Jean-Marc Lulin reports

AZIMUT GRANTS STOCK OPTIONS

On Dec. 29, 2025, related to its year-end compensation review, Azimut Exploration Inc. granted a total of 1,115,000 stock options were granted to directors, officers, employees and consultants. Of this number, 1.02 million have been granted to directors and officers and 95,000 to employees and consultants. These options have an exercise price of 79 cents per share and are exercisable for a 10-year period.

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): results for seven holes are pending and 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 oz inferred); internal scoping study in progress; field assessment of the recently acquired K2 claim block;
• Wabamisk East (Rio Tinto option) -- Lithos North and South (lithium): comprehensive field evaluation under way to prepare for drilling phase;
• Kukamas (KGHM option) -- Perseus zone (nickel/copper/platinum group elements): drilling phase completed; assay results are pending and 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.