Mr. Alex Klenman reports

AZINCOURT ENERGY ANNOUNCES PRIVATE PLACEMENT UNDER THE LISTED ISSUER FINANCING EXEMPTION (LIFE) AND SHARE CONSOLIDATION

Azincourt Energy Corp. intends to conduct a non-brokered private placement, under the listed issuer financing exemption (LIFE) (as defined below), of a minimum of 15 million units and up to a maximum of 30 million units at a price of five cents per unit for minimum gross proceeds of approximately $750,000 and up to a maximum gross proceeds of approximately $1.5-million. Each unit will consist of one post-share-consolidation (as defined below) common share of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one post-share-consolidation common share of the company at a price of seven cents at any time on or before that date which is 36 months after the closing date of the offering. The company does not anticipate that insiders will participate in the offering. The net proceeds raised from the offering will be used for general working capital purposes and for exploration activities at the company's Harrier project in Newfoundland and Labrador.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions, the offering is being made to purchasers resident in Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. The securities offered under the LIFE will not be subject to a hold period in accordance with applicable Canadian securities laws. The company will file an offering document related to the offering that will be accessible under the company's profile on SEDAR+ and on the company's website. Prospective investors should read the offering document before making an investment decision. In connection with closing of the offering, the company may pay finders' fees to eligible third parties that have assisted with introducing subscribers to the offering. Closing of the offering remains subject to the approval of the TSX Venture Exchange and completion of the share consolidation.

In connection with the offering, the company also announces that the board of directors has authorized the company to complete a consolidation of the company's common share capital on a one-for-four basis. The company currently has 516,358,032 common shares outstanding and, following completion of the share consolidation but before completion of the offering, it is expected to have approximately 129,089,508 shares outstanding. Completion of the share consolidation remains subject to the approval of the TSX-V.

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 in Saskatchewan, and its Snegamook uranium project, located in the Central mining belt of Labrador.

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