Mr. Ted O'Connor reports

AZINCOURT TO UNDERTAKE $1,500,000 PRIVATE PLACEMENT

Azincourt Uranium Inc. intends to undertake a non-brokered private placement to raise aggregate gross proceeds of up to $1.5-million. The financing will be effected through the sale of up to 5,555,555 units at a price of 27 cents per unit.

Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share for a period of one year at a price of 40 cents per common share, subject to the company's right to accelerate the exercise of the warrants if the volume-weighted average price of the common shares of the company on the TSX Venture Exchange exceeds 60 cents per common share for a period of 10 consecutive trading days between the date that is between four months and one day following the issuance of the warrants and the expiry date of the warrants.

The net proceeds of the private placement will be used to advance the company's projects in Canada and Peru, subject to the closing of the acquisition of Minergia SAC, and for general working capital purposes.

The company expects to pay finders' fees in connection with the offering, in accordance with TSX Venture Exchange policies.

Closing of the private placement is subject to receipt of TSX Venture Exchange approval.

We seek Safe Harbor.