Azincourt Energy Advances Drill Program at Snegamook Uranium Deposit and Greater Harrier Uranium Project

The November 19, 2025, news release announces that Azincourt Energy is advancing its exploration plans with a 2,000-metre, 10-hole diamond drilling program at the Harrier Project in Labrador, Canada. The program will primarily focus on the Snegamook uranium deposit. The key objectives are to confirm historical drill results, expand the known deposit, and gather sufficient data to prepare a maiden NI 43-101 compliant resource estimate. The company also noted the successful completion of a 2025 summer work program which validated historical drill sites and identified two new uranium showings on the property.

This announcement is a logical and expected progression of the company's stated strategy and is considered a routine, positive development. After acquiring the option on the Harrier project in mid-2025 and subsequently raising capital in August and October 2025 specifically for this purpose, the launch of a drill program is the necessary next step to create shareholder value.

The news is positive as it confirms that management is executing its plan and deploying capital as promised. However, the announcement itself is not material. The market has anticipated this activity since the recent financings. The truly material event will be the results from this drill program. The company is relying on historical data, which it repeatedly disclaims as unverified. The success or failure of this program to confirm and, more importantly, expand upon historical high-grade but narrow intercepts (e.g., 0.974% U3O8 over 0.5m) will be the primary driver of the stock price in the near term. Until those results are released, this news simply confirms the company is operational.

Azincourt Energy is a Canadian-based junior exploration company focused on uranium. The company holds two key projects: 1. Harrier Project (Snegamook Deposit): This is the company's new flagship project, located in the Central Mineral Belt of Labrador. Acquired via option in Q2 2025, the 49,400-hectare property is adjacent to significant deposits held by Atha Energy and Paladin Energy. The project hosts numerous historical high-grade surface showings and the Snegamook deposit, which is the focus of the current drill program aimed at establishing a maiden NI 43-101 resource. 2. East Preston Project: Located in the prolific Athabasca Basin in Saskatchewan, Azincourt holds an 86.5% interest in this 21,000-hectare project. The company has invested over $10 million in exploration, identifying multiple drill-ready targets. A geophysics program is planned for fall 2025, followed by a proposed drill program in winter 2026.