Azincourt Energy Closes an Additional $1.027 Million IN Private Placement
AZINCOURT ENERGY CLOSES AN ADDITIONAL $1.027 MILLION IN
PRIVATE PLACEMENT
Vancouver B.C., April 30, 2019 - AZINCOURT ENERGY CORP. (“Azincourt” or the
“Company”) (TSX.V: AAZ, OTC: AZURF), is pleased to announce that due to recent institu tional
interest it has elected to re-open its previously a nnounced non-brokered private placement, and has
closed an additional tranche of the placement for g ross proceeds of $1,027,326. In connection with
closing of this tranche, the Company has issued a f urther 15,000,000 flow-through units (each, an
“ FT Unit ”) and 5,546,526 non-flow-through units (each, an “ NFT Unit ”), each at a price of $0.05
per unit.
Each FT Unit consists of one flow-through common share and one common share purchase warrant,
and each NFT Unit consists of one common share and one common share purchase warrant (each, a
“ Warrant ”). Each Warrant will entitle the holder to purcha se one additional common share for a
period of sixty months at a price of $0.07.
“This additional financing represents a substantial portion of the remaining commitment to earn
70% of the East Preston project,” said president & CEO, Alex Klenman. “This solidifies our future
developmental timeline, well ahead of schedule, and allows us to focus on significantly expanding
our drill plans. Institutional interest in East Pre ston has certainly increased, and we’re pleased the
compelling risk-reward scenario it represents is receiving recognition,” continued Mr. Klenman.
In connection with completion of this additional tr anche, the Company has paid commissions of
$83,019.79 and has issued 1,500,000 Warrants, to ce rtain parties who have introduced subscribers
to the placement. All securities issued in connect ion with the placement are subject to a four-
month-and-one-day statutory hold period. The Compa ny intends to apply the net proceeds of the
placement to ongoing development work at the Compan y’s East Preston Uranium Project, and
general working capital.
Figure 1: Project Location – Western Athabasca Basi n, Saskatchewan, Canada
About East Preston
Azincourt is currently earning towards 70% interest in the 25,000+ hectare East Preston project as
part of a joint venture agreement with Skyharbour R esources (TSX.V: SYH), and Clean
Commodities Corp (TSX.V: CLE). Extensive regional exploration work at East Preston was
completed in 2013-14, including airborne electromag netic (VTEM), magnetic and radiometric
surveys. Three prospective conductive, low magnetic signature corridors have been discovered on
the property. The three distinct corridors have a total strike length of over 25 km, each with multiple
EM conductor trends identified. Ground prospecting and sampling work completed to date has
identified outcrop, soil, biogeochemical and radon anomalies, which are key pathfinder elements for
unconformity uranium deposit discovery.
The Company completed a winter geophysical explorat ion program in January-February 2018 that
generated a significant amount of new drill targets within the previously untested corridors while
refining additional targets near previous drilling along the Swoosh corridor.
Ground-truthing work confirmed the airborne conduct ive trends and more accurately located the
conductor axes for future drill testing. The gravit y survey identified areas along the conductors with
a gravity low signature, which is often associated with alteration, fault/structural disruption and
potentially, uranium mineralization. The combinatio n/stacking of positive features has assisted in
prioritizing targets.
The Main Grid shows multiple long linear conductors with flexural changes in orientation and
offset breaks in the vicinity of interpreted fault lineaments – classic targets for basement-hosted
unconformity uranium deposits. These are not just s imple basement conductors; they are clearly
upgraded/enhanced prospectivity targets because of the structural complexity.
The targets are basement-hosted unconformity relate d uranium deposits similar to NexGen’s Arrow
deposit and Cameco’s Eagle Point mine. East Presto n is near the southern edge of the western
Athabasca Basin, where targets are in a near surfac e environment without Athabasca sandstone
cover – therefore they are relatively shallow targe ts but can have great depth extent when
discovered. The project ground is located along a parallel conductive trend between the PLS-Arrow
trend and Cameco’s Centennial deposit (Virgin River-Dufferin Lake trend).
Drilling commenced in March of 2019, testing the fi rst few priority targets to depths between 150
and 200 meters. Results of the first few holes are pending and will be announced once received,
reviewed and verified.
Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian
regulatory requirements set out in National Instrum ent 43- 101 and reviewed on behalf of the
company by Ted O’Connor, P.Geo. a director of the Company, as well as a qualified person.
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