Mr. Alex Klenman reports

AZINCOURT ENERGY CORP. CLOSES PRIVATE PLACEMENT

Azincourt Energy Corp. has closed its non-brokered private placement of 40 million flow-through (FT) units, offered at a price of 2.5 cents per FT unit, for gross proceeds of $1-million.

Each FT unit comprises one flow-through common share and one common share purchase warrant. Each warrant is exercisable at a price of five cents into one common share until Nov. 21, 2028.

The gross proceeds of the offering will be applied to the drilling, exploration and development of the company's Harrier project, located within the Central mineral belt of Newfoundland and Labrador, Canada. Proceeds of the offering will not be used for payments to non-arm's-length parties of the company nor for any payment relating to persons conducting investor relations activities.

In connection with the closing of the second tranche, the company paid finders' fees totalling $70,000 and issued 2.8 million finders' warrants, each exercisable at a price of five cents into one common share for three years from the date of issue. The securities issued under the offering are subject to a hold period under applicable securities laws in Canada expiring four months and one day from Nov. 21, 2025, and are subject to certain closing conditions, including, but not limited to, the receipt of all necessary approvals, including the final 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 that will qualify as: (i) Canadian exploration expenses (as defined in the tax act); and (ii) 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, 2026, and will be renounced by the company to the initial purchasers of the FT shares with an effective date no later than Dec. 31, 2025.

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 East Preston uranium project, located in the Athabasca basin, Saskatchewan, and at its Snegamook and Harrier uranium projects, both located in the Central mining belt of Labrador.

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