Azincourt Energy Updates CAMP Construction and Drill Mobilization at the East Preston Uranium Project
AZINCOURT ENERGY UPDATES CAMP CONSTRUCTION AND DRILL
MOBILIZATION AT THE EAST PRESTON URANIUM PROJECT
Vancouver B.C., January 13, 2022 - AZINCOURT ENERGY CORP. (“Azincourt” or the
“Company”) (TSX.V: AAZ, OTCQB: AZURF), is pleased to announce that construction of the
exploration camp for the winter 2022 exploration program has commenced at the East Preston
uranium project, located in the western Athabasca Basin, Saskatchewan, Canada.
Discovery Mining Services is building the exploration camp at Snoop Lake and will maintain, staff,
and manage the camp for the duration of the program, under the supervision of TerraLogic
Exploration Inc. In addition, drilling and geological crews will be arriving on site in the next few
days, and drilling is anticipated to commence within the next week, utilizing two diamond drill rigs
provided by Full Force Drilling Ltd.
The 73 km winter road to access the property and campsite was completed by Accurate Industries
who will maintain the road and facilitate transport of fuel and supplies to camp for the duration of the
drill program.
TerraLogic Exploration Inc. will facilitate and execute a planned diamond drilling program under the
guidance and supervision of Azincourt’s Vice President, Exploration, Trevor Perkins, P.Geo, and
Jarrod Brown, M.Sc., P.Geo, Chief Geologist and Project Manager with TerraLogic Exploration. The
program will consist of a minimum of 6,000m of drilling in 30-35 drill holes. Drilling will focus on
the A-G and K-Q trends, commencing in the G Zone where the 2021 drill program ended and where
elevated uranium levels were encountered. The program will continue to evaluate the G zone to the
south and then move to assess the K-Q trend. The program may be modified as results warrant.
“The team has done tremendous work getting things to this point,” said president and CEO, Alex
Klenman. “The road build was far larger than any we’ve done previously on the property. In the past
we had utilized local accommodations for the crew, but with the greater size and scope of this
program, and the more southern location of the drill targets, building a large and logistically suitable
camp was critical. We’re eager t o get the drills on site and begin the program,” continued Mr
Klenman.
“We are very happy with progress to date with road building and camp construction” said VP,
Exploration, Trevor Perkins. “The drill crew and geologists arriving on site is the final step to getting
drills spotted and turning,” continued Mr. Perkins.
East Preston Targets
The primary target area for the 2022 program continues to be the conductive corridors from the A -
Zone through to the G -Zone (A-G Trend) and the K -Zone through t o the Q -Zone (K-Q Trend)
(Figures 1 and 2). The selection of these trends is based on a compilation of results from the 2018
through 2020 ground- based EM and gravity surveys, property wide VTEM and magnetic surveys,
and the 2019 through 2021 drill program s, the 2020 HLEM survey indicates multiple prospective
conductors and structural complexity along these corridors.
The 2019-2021 drilling programs on the A-G Trend confirmed that geophysical conductors comprise
structurally disrupted zones that are host to accumulations of graphite, sulphides, and carbonates.
Anomalous radioactivity has been demonstrated to exist within these structurally disrupted conductor
zones. The 2022 drilling program will target similar structurally disrupted zones prioritized on the
presence and strength of corresponding electromagnetic , magnetic and gravity geophysical
anomalies.
Permitting and Community Engagement
Permits are in place to complete all the planned work through the winter of 2022. Azincourt Energy
continues to be engaged in regular meetings with the Clearwater River Dene Nation and other rights
holders to ensure that concerns of the local communities are addressed. Azincourt looks forward to
a continued close working relationship with CRDN and other rights holders to ensure that any
potential impacts and concerns are addressed and that the communities can benefit from activities in
the area through support of local business, employment opportunities, and sponsorship of select
community programs and initiatives.
Shares for Debt
The Company also announces that it has reached an agreement with an arms-length creditor to settle
outstanding indebtedness totaling $250,000 through the issuance of 3,333,333 common shares (the
“Settlement Shares”) at a deemed price of $0.075 per Settlement Share. The indebtedness relates to
professional services rendered to the Company.
Issuance of the Settlements Shares remains subject to the approval of the TSX Venture
Exchange. Upon issuance, the Settlement Shares will be subject to a four -month-and-one-day
statutory hold period in accordance with applicable securities laws.
Figure 1: Target corridors at the East Preston Uranium Project, Western Athabasca Basin
Saskatchewan
Figure 2: Road access to the East Preston Uranium Project, Western Athabasca Basin Saskatchewan
Figure 3: 2022 Drill Target areas at the East Preston Uranium Project
Figure 4: Project Location – Western Athabasca Basin, Saskatchewan, Canada
About East Preston
Azincourt controls a majority 70% interest in the 25,000+ hectare East Preston project as part of a
joint venture agreement with Skyharbour Resources (TSX.V: SYH), and Dixie Gold. 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 East Preston Project has 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 simple basement conductors; they are clearly
upgraded/enhanced prospectivity targets because of the structural complexity.
The targets are basement-hosted unconformity related uranium deposits similar to NexGen’s Arrow
deposit and Cameco’s Eagle Point mine. East Preston is near the southern edge of the western
Athabasca Basin, where targets are in a near surface environment without Athabasca sandstone cover
– therefore they are relatively shallow targets 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).
Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian
regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company
by C. Trevor Perkins , P.Geo., Vice President, Explor ation of Azincourt Energy, and a Qualified
Person as defined by National Instrument 43-101.
About Azincourt Energy Corp.
Azincourt Energy is a Canadian- based resource company specializing in the strategic acquisition,
exploration, and development of alte rnative energy/fuel 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, Saskatchewan, Canada, and the Escalera Group uran ium-
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 responsibility for the adequacy or accuracy of this
release.
This press release includes “forward-looking statements”, including forecasts, estimates, expectations
and objectives for future operations that are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of Azincourt. Investors are cautioned that any
such statements are not guarantees of future performance and that actual results or developments may
differ materially from those projected 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