Azincourt Energy Outlines Upcoming Manitoba Lithium Work Programs
AZINCOURT ENERGY OUTLINES UPCOMING MANITOBA LITHIUM
WORK PROGRAMS
Vancouver B.C., February 1, 2018 - AZINCOURT ENERGY CORP. (“Azincourt” or the
“Company”; TSX.V: AAZ) is pleased to provide an update on it’s upcoming ex ploration work
programs with partner New Age Metals Inc. (TSX.V: N AM) at the five newly acquired lithium
projects in the Winnipeg River Pegmatite Field, Manitoba, Canada.
The Winnipeg River Pegmatite Field is host to numer ous lithium-rich pegmatites in addition to the
world-class Tanco Pegmatite, a highly fractionated lithium-cesium-tantalum (LCT) type pegmatite
that has been mined at the Tanco Mine since 1969 in varying capacities for spodumene (a major
rock unit for lithium (Li)), tantalum (Ta), cesium (Cs), rubidium (Rb), and beryllium (Be) ores.
Exploration work is scheduled to begin in late Marc h (or early April, depending on weather), with a
field program that includes detailed mapping of kno wn pegmatite outcroppings on the Lithium One
and Lithium Two projects. This will be followed im mediately by a comprehensive chip sampling
program designed to prioritize targets for the init ial drill programs anticipated at both properties
during the months of May, June and July.
The Lithium Two project, adjacent to Quantum Minera ls Corp Cat Lake Lithium Project (aka Irgon
Lithium Mine), includes an historical estimate* from drilling in 1947 that defined 545,000 tonnes of
1.4% Li2O, drilled to a depth of 60 meters. Field work in 2016 confirmed that the Eagle and FD5
Pegmatites contained significant surface spodumene. The Eagle Pegmatite is approximately 1100
meters in length, up to 12 meters wide and open to depth.
12 samples collected in 2016 returned a range of 0. 02% to 3.04% Li2O from the Eagle Pegmatite,
and up to 2.08% Li2O from the FD5 Pegmatite. Selec t sampling will concentrate on the Eagle and
FD5 pegmatites at Lithium Two, and on the Silverlea f Pegmatite at Lithium One, which returned
values as high as 4.33% Li2O in the 2016 exploration program.
Figure 1 – Spodumene showing from the Eagle Pegmati te at the Lithium Two project
* Note: The mineral reserve estimate cited above as part of the Lithium Two project is presented as
a historical estimate which does not conform to cur rent NI43-101 standards. A qualified person has
not done sufficient work to classify the historical estimate as current mineral resources or mineral
reserves. Although the historical estimates are bel ieved to be based on reasonable assumptions,
they were calculated prior to the implementation of National Instrument 43-101 standards. These
historical estimates therefore do not meet current standards as defined under sections 1.2 and 1.3 of
NI 43-101; consequently, the issuer is not treating the historical estimate as current mineral
resources or mineral reserves.
“We’re happy to map out our plans and excited to mo ve forward at the Manitoba properties,” said
Alex Klenman, President & CEO. “Carey and the New Age team have been providing some great
intel on the projects and we intend to get right to work. We’ll spend some time mapping and
sampling the priority targets to ensure we are in t he best position for success on the initial drill
program,” continued Mr. Klenman.
With the commencement of the Manitoba lithium work program the Company will have two active
projects, with work ongoing at the East Preston ura nium project in the Athabasca Basin,
Saskatchewan. In addition, the Company continues t o do due diligence on potential acquisitions of
other clean energy, clean fuel exploration projects.
“As stated previously, we would like an active port folio with multiple projects that expose the
company to different sectors within the clean energ y space,” said Mr. Klenman. “We are and have
been invested in uranium, and we’ve added lithium i nterests. We are not done building our project
portfolio and will continue to evaluate opportunities here in the near term that add additional value,”
continued Mr. Klenman.
Company Hires Trapeze Capital for Market Making Services
The Company is also pleased to announce the retenti on of Trapeze Capital Corp. of Toronto,
Canada to provide market-making services to the Company.
Under the terms of their agreement (the “Agreement” ), Trapeze will receive cash compensation of
$5,500 per month. Trapeze does not currently own an y securities of Azincourt, however, Trapeze
and its clients may acquire a direct interest in th e securities of Azincourt. Azincourt and Trapeze
are unrelated and unaffiliated entities. Trapeze is a member of the Investment Industry Regulatory
Organization of Canada, a participating organizatio n of the Toronto Stock Exchange and a member
of TSX Venture Exchange. The capital and securities required for any trade undertaken by Trapeze
as principal will be provided by Trapeze. The Agree ment is for an initial term of 180 days, with
automatic renewal terms unless terminated, and rema ins subject to the approval of the TSX Venture
Exchange.
Option Grant
The Company also announces that it will grant 1,000 ,000 incentive share purchase options to
certain consultants of the Company, subject to TSX Venture Exchange acceptance. Each option is
exercisable to purchase one common share at a price of $0.20 for a period of 24 months in
accordance with the Company’s stock option plan.
The contents contained herein, which relates to Exp loration Results or Mineral Resources, is based
on information compiled, reviewed or prepared by Ca rey Galeschuk, Principal Consulting
Geoscientist for New Age Metals. Mr. Galeschuk is a Qualified Person, as defined by National
Instrument 43-101 and has reviewed and approved the technical content of this news release.
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 properties, including uranium, lithium,
cobalt and other elements.
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