Mr. Alex Klenman reports

AZINCOURT ENERGY CORP. ANNOUNCES PRIVATE PLACEMENT

Azincourt Energy Corp. has arranged a non-brokered private placement to raise gross proceeds of up to $375,000 consisting of flow-through units offered at a price of 3.5 cents per FT unit.

Each FT unit will be composed of one flow-through common share and one common share purchase warrant. Each warrant will be exercisable at a price of five cents into one common share for a period of 36 months from the date of issue.

The gross proceeds of the offering will be applied to the drilling, exploration and development of the company's Preston property, located in the Athabasca region of Saskatchewan, Canada, and the Big Hill lithium project, located in southwestern Newfoundland. Proceeds of the offering will not be used for payments to non-arm's-length parties or to persons conducting investor relations activities.

The company may pay finders' fees under the offering in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The securities issued under the offering will be subject to a hold period under applicable securities laws in Canada expiring four months and one day from the closing date of the offering, and are subject to certain closing conditions, including, but not limited to, the receipt of all necessary approvals, including the conditional approval of the TSX Venture Exchange.

The FT shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)). An amount equal to the gross proceeds from the issuance of the FT shares will be used to incur eligible resource exploration expenses, which will qualify: (i) as Canadian exploration expenses (as defined in the tax act); and (ii) as flow-through critical mineral mining expenditures (as defined in Subsection 127(9) of the tax act). Qualifying expenditures in an aggregate amount not less than the gross proceeds raised from the issue of the FT shares will be incurred (or deemed to be incurred) by the company on or before Dec. 31, 2025, and will be renounced by the company to the initial purchasers of the FT shares with an effective date no later than Dec. 31, 2024.

About Azincourt Energy Corp.

Azincourt is a Canadian-based resource company, specializing in the strategic acquisition, exploration and development of alternative 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, located in the Athabasca basin, Saskatchewan, and the Big Hill lithium project, located in southwestern Newfoundland.

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