Azincourt Energy Options High-Grade Sylvia Lake Uranium Project in Labrador

Azincourt Energy Corp. has entered into a definitive property option agreement to acquire a 100% interest in the Sylvia Lake Uranium Project, located in Labrador's Central Mineral Belt. The acquisition consideration includes $12,000 in cash, the issuance of 15,000,000 common shares, and $250,000 in exploration expenditures over a 24-month period. A finder's fee of 1,395,000 common shares is payable to an arm's-length third party, with all securities subject to a four-month-and-one-day statutory hold.

Simultaneously, the company closed a non-brokered private placement of up to 13,333,332 units at $0.045 per unit, targeting gross proceeds of up to $600,000. Each unit includes one-half of a transferable common share purchase warrant exercisable at $0.07 per share for 24 months. The proceeds are allocated to eligible Canadian exploration expenses (flow-through) and general working capital.

In standard corporate updates, Azincourt Energy Corp. engaged Vectis Capital Inc. for investor relations and Fairfax Partners Inc. for digital marketing.

Azincourt Energy Corp. (AAZ) announced an incremental expansion of its uranium land package within a proven district, a move that aligns with the company’s stated strategy of acquiring under-explored properties. The transaction involves a $600,000 financing, which is small relative to the company’s existing cash position of $3.34 million as of Q2 2026 and follows a consistent pattern of smaller, periodic capital raises.

The transaction is dilutive, adding 15,000,000 option shares, 13,333,332 placement units, and associated warrants. The placement price of $0.045 aligns with recent trading levels, indicating fair market pricing. The news introduces no material change to the company's exploration thesis, financial outlook, or operational roadmap, representing an expected and routine development for a pre-revenue explorer advancing multiple projects.

Azincourt Energy Corp. (AAZ) is a pre-revenue uranium and lithium exploration company focused on Canadian critical mineral projects. Its flagship asset is the Harrier Uranium Project, located in Labrador's Central Mineral Belt. The project hosts the Snegamook deposit, which has yielded historical surface samples returning up to 7.48% U3O8, with multiple zones exceeding 1% U3O8.

The company also holds an approximately 87% interest in the East Preston Project, situated in Saskatchewan's Athabasca Basin. Currently in the exploration phase, Azincourt plans to advance its land package through reconnaissance, drilling, and resource estimation.