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AAZ.V ·

Azincourt Energy Announces Closing of Private Placement

Financings

1430 – 800 West Pender Street

Vancouver, BC V6C 2V6

[email protected]

www.azincourtenergy.com

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. N EWSWIRE SERVICES FOR DISSEMINATION IN

THE UNITED STATES

AZINCOURT ENERGY ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Vancouver B.C., April, 20, 2020 - AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”;

TSXV: AAZ) is pleased to announce that it has completed a non- brokered private placement of 3,000,000

Units (“Units”) of the Company at a price of C$0.05 per Unit for gross proceeds of C$150,000 (the

“Offering”).

Each Unit is comprised of one common share and one common share purchase warrant (a “Warrant”). Each

Warrant entitles the holder to purchase one additio nal common share until April 20, 2025 at a price of

C$0.07 per common share.

In accordance with securities legislation, all secu rities issued under the Offering will be subject to a four

month hold period expiring on August 21, 2020.

Azincourt will apply the gross proceeds of the Offe ring to advance the Company’s projects and for gene ral

working capital purposes.

Final closing of this Offering is subject to the re ceipt of all necessary regulatory approvals includi ng that of

the TSX Venture Exchange.

About Azincourt Energy Corp.

Azincourt Energy is a Canadian-based resource company specializing in the strategic acquisition, exploration

and development of alternative energy/fuel projects , including uranium, lithium, and other critical cl ean

energy elements. The Company is currently active a t its joint venture East Preston uranium project in the

Athabasca Basin, Saskatchewan, Canada, and the Esca lera 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

Tel: 604-638-8063

[email protected]

www.azincourtenergy.com

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies

of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.