Azincourt Energy Amends Terms of Option to Acquire Uranium-Lithium Projects IN Southern PERU
AZINCOURT ENERGY AMENDS TERMS OF OPTION TO ACQUIRE
URANIUM-LITHIUM PROJECTS IN SOUTHERN PERU
Vancouver B.C., October 22, 2019 - AZINCOURT ENERGY CORP. (“Azincourt” or the
“Company”) (TSX.V: AAZ, OTC: AZURF) , is pleased to announce it has reached an agreemen t
with 1177865 B.C. Ltd. (the “ Optionor ”) to amend the option (the “ Option ”) under which the
Company holds the rights to acquire a series of thr ee uranium-lithium exploration projects located
in the Picotani volcanic field in Carabaya and San Antanio De Putina Provinces, Puno Region, in
southeastern Peru (collectively, the “ Projects ”).
The Projects cover a combined area of 7,400 hectares of prospective exploration targets for volcanic
hosted supergene/surficial uranium and lithium on t he Picotani Plateau (or “mesata” in Spanish).
The land package consists of the Escalera project c omprised of six concessions totaling 5,500
hectares, the Lituania concession covering 899.97 h ectares, and the Condorlit concession covering
999.97 hectares.
Under the terms of the amendment, the Company has a greed to issue the Optionor 4,000,000
common shares in lieu of a cash payment of $150,000 due and owing by the Company pursuant to
the terms of the Option, and the requirement to inc ur exploration expenditures of at least $250,000
in the initial twelve months of the Option. In add ition, the Optionor is entitled to receive a furthe r
1,000,000 common shares in accordance with the existing terms of the Option.
The amendment will allow the Company to retain cont rol of the Project, while conserving available
capital for its planned 2019-2020 winter work progr am at the East Preston uranium project, located
in the western Athabasca basin in northern Saskatchewan, Canada.
“The preliminary work we did in Peru late last year showed these are indeed compelling exploration
targets that deserve follow up work,” said Presiden t & CEO, Alex Klenman. “But right now, our
priority is East Preston and with the Athabasca dri ll season approaching fast it is important we
allocate our time and resources there. This agreeme nt allows us to keep the Peruvian projects in
good standing as we pursue critical development at East Preston,” continued Mr. Klenman.
The issuance of an additional 4,000,000 common shar es to the Optionor, pursuant to the terms of
the amendment, remains subject to the approval of t he TSX Venture Exchange. All common shares
to be issued to the Optionor, pursuant to the terms of the Option, will be subject to a four-month-
and-one-day statutory hold period in accordance with applicable securities laws.
About Azincourt Energy Corp.
Azincourt Energy is a Canadian-based resource compa ny specializing in the strategic acquisition,
exploration and development of alternative energy/f uel projects, including uranium, lithium, and
other critical clean energy elements. The Company is currently active at its joint venture East
Preston uranium project in the Athabasca Basin, Sas katchewan, Canada, and the Escalera Group
uranium-lithium project located on the Picotani Plateau in southeastern Peru.
ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.
“Alex Klenman”
Alex Klenman, President & CEO
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts r esponsibility for the adequacy or accuracy of
this release.
This press release includes “forward-looking statem ents”, including forecasts, estimates,
expectations and objectives for future operations t hat are subject to a number of assumptions, risks
and uncertainties, many of which are beyond the con trol of Azincourt. Investors are cautioned that
any such statements are not guarantees of future pe rformance and that actual results or
developments may differ materially from those proje cted in the forward-looking statements. Such
forward-looking information represents management’s best judgment based on information
currently available. No forward-looking statement can be guaranteed and actual future results may
vary materially.
For further information please contact:
Alex Klenman, President & CEO
Tel: 604-638-8063
Azincourt Energy Corp.
1430 – 800 West Pender Street
Vancouver, BC V6C 2V6
www.azincourtenergy.com