Azincourt Energy begins drill planning for Harrier

Executive Summary

• Azincourt Energy Corp. is advancing its exploration program at the Harrier project in Newfoundland and Labrador, specifically targeting the Snegamook uranium deposit and new showings identified in 2025.
• A 2,000-metre diamond drilling program is planned for 2026 (pending ice-off conditions) to confirm historical mineralization, expand the Snegamook deposit, and prepare a maiden NI 43-101 compliant resource estimate.
• The 2025 summer work program validated past drill sites and identified two new uranium showings at Boiteau Lake and east of Anomaly 7, adding to the dozen+ known mineralized zones on the 49,400-hectare land package.

Key Details

• 2026 Drilling Plan: Approximately 2,000 metres of diamond drilling planned across six to 10 holes.
• Primary Target: Snegamook deposit, aiming to twin key historical drill holes and expand the deposit size.
• Secondary Target: Boiteau Lake area, with holes planned to prepare for a larger future program.
• Historical Data (Snegamook):
  • Best historical intercept: Hole SN-08-06 intersected 0.974% U3O8 over 0.5 metres grading 0.974% U3O8.
  • Deposit context: Located 1.3 km southeast of the Two Time zone (Indicated/Inferred resource of 5.55 million lbs U3O8 per Silver Spruce Resources, June 2008).
  • Geological setting: 20-to-50-metre-wide section of uranium-bearing brecciated and altered monzodiorite with chlorite, hematite, and carbonate alteration.
  • Status: Deposit remains open to the southeast toward the Snegamook Southeast showing.
• 2025 Field Work Results:
  • Validated locations of drill core from 2007/2008 programs at the old Silver Spruce Resources camp site.
  • Identified two new uranium showings: one in outcrop at Boiteau Lake and another in boulders/outcrop east of Anomaly 7.
  • Assay results for new showings are pending.
• Project Scale & Context:
  • Land Package: 49,400 hectares over five licence groups in the Central Mineral Belt.
  • Exploration Status: Significantly underexplored with only 124 historical drill holes (19,851 metres total) completed.
  • Mineralization: Over a dozen known uranium zones; surface samples returned up to 7.48% U3O8, with >1% U3O8 in 10 separate areas.
  • Neighboring Projects: Adjacent to Atha Energy’s Moran Lake (9.6M lbs U3O8, 11.8M lbs V2O5) and Anna Lake (4.9M lbs U3O8), and Paladin Energy’s Michelin deposit (127.7M lbs U3O8).
• Next Steps:
  • Rehabilitate and examine drill core at Kanairiktok core storage.
  • Engage an independent qualified person to examine core and consult on drilling for a maiden resource estimate.

Notable Quotes

• "We are excited to commence drilling in Labrador. There is no shortage of drill-ready targets located on the Harrier project," commented Trevor Perkins, Azincourt Energy's vice-president of exploration. "Our priority is to confirm the historical results and begin an expansion of the Snegamook deposit in preparation for a preliminary resource estimate for the deposit. At the same time, we want to advance other targets on the property to unlock the value this property contains."