Azincourt Energy Samples 6.28% U3O8 at Harrier Uranium Project

09:05 Uhr  |  Newsfile

• High-grade uranium mineralization confirmed across the Harrier Uranium Project, including the Snegamook Uranium Deposit, Moran Heights, Brook, and newly identified showings, reinforcing the project's district-scale potential.

• Snegamook Uranium Deposit re-sampling confirmed high-grade uranium, validating historic results and highlighting potential for higher-grade lenses within the deposit.

• Multiple surface samples returned high-grade uranium, including 6.28% U₃O₈ at the Brook showing and up to 2.27% U₃O₈ along the Moran Heights trend, demonstrating strong near-surface mineralization across the property.

• Two new uranium showings identified at Boiteau Lake North Extension and Anomaly 7 East, expanding the known footprint of uranium mineralization.

• Snegamook Uranium Deposit prioritized for 2026 drilling, with historical drilling confirming uranium mineralization over 20-50 m widths in the same geological setting as the nearby on-trend Two Time Zone Deposit.

Vancouver, January 21, 2026 - Azincourt Energy Corp. (TSXV: AAZ) (OTCQB: AZURF) ("Azincourt" or the "Company"), is pleased to announce that assay results have been received for samples collected during the summer 2025 prospecting program at its Harrier Uranium Project (the "Harrier Project"), located in the Central Mineral Belt in Newfoundland & Labrador, Canada.

Harrier Project

Azincourt's Harrier Project covers 49,400 hectares over five distinct licence groups, representing one of the largest land positions in the Central Mineral Belt. The Harrier Project contains the Company's Snegamook Uranium Deposit and straddles key uranium-bearing structural corridors directly adjacent to and on trend with Atha Energy's Moran Lake (9.6 Mlbs U₃O₈ and 11.8 Mlbs V₂O₅) and Anna Lake (4.9 Mlbs U₃O₈) deposits, and Paladin Energy's Michelin deposit (127.7 million lbs U₃O₈) - placing Azincourt at the center of a proven and growing uranium camp.

The Harrier Project, with over a dozen known uranium mineralization zones and surface rock samples grading up to 7.48% U₃O₈ (and >1.0% U₃O₈ in 10 distinct zones), offers a rare combination of grade, scale, and geological continuity. Notably, only 124 drill holes (19,851 metres total, over half of this on the former Snegamook Uranium Deposit area) have ever been completed across the combined property, leaving ample opportunity for new discovery with modern methods.

2025 Summer Work Program

The summer 2025 work program (see news release dated Oct 1, 2025) consisted of helicopter supported reconnaissance of existing identified uranium occurrences and prospecting of previously identified radiometric anomalies.

"We are very encouraged by the results of the summer 2025 program," commented Trevor Perkins, Azincourt Energy's VP of Exploration. "The assay results have demonstrated that the potential for high-grade uranium deposits exist on the Harrier Project. We have no shortage of targets that have returned decent uranium values and now require drilling to realize their full potential", continued Mr. Perkins.

Snegamook Uranium Deposit

At the Snegamook Uranium Deposit area, a 10 cm check sample collected from drill hole SN-08-06 returned a grade of 2.71% U₃O₈. This sample came from an interval where historical sampling had indicated 0.97% U₃O₈ / 0.5 m. This was the best mineralized interval from the historical drilling on the Snegamook Uranium Deposit. A 10 cm check sample collected from SN-08-18, which intersected the uranium showing to the southeast of the Snegamook deposit (Figure 5), returned 0.35% U₃O₈. These samples confirm the quality of mineralization within the vicinity of the Snegamook deposit and highlight the potential for higher grade lenses within the deposit itself.

The Snegamook Uranium Deposit will be the priority for the Summer 2026 drill campaign, where drilling in 2007 and 2008 to follow up a radon gas anomaly identified uranium mineralization located 1.3 km along strike to the southeast of the Two Time Zone (Indicated and Inferred resource of 5.55 Mlb U₃O₈, Silver Spruce Resources, June 2008). 17 drill holes intersected a 20 to 50 m wide section of uranium bearing brecciated and altered monzodiorite with moderate to strong chlorite, hematite and carbonate alteration, the same geological setting as the Two Time Zone. (Figure 5)

Moran Heights and New Areas

Sampling along the Moran Heights trend returned up to 2.27% U₃O₈. Drilling will be required to trace this mineralization under the nearby escarpment. Moran Heights is approximately 8 km along strike to the northeast of Atha Energy's Moran Lake uranium-vanadium deposit (9.6 Mlbs U₃O₈ and 11.8 Mlbs V₂O₅) with a similar geologic setting. At Moran Lake uranium mineralization occurs in two zones labelled as Upper C Zone and the Lower C Zone. Within the Upper C Zone, mineralization is hosted within brecciated, variably hematite-altered mafic volcanics and haematitic cherts, and the Lower C Zone hosts uranium mineralization within chloritized sandstones.

At the Brook showing, a sample returned 6.28% U₃O₈, where previous sampling had given 4.86% U₃O₈. This showing is a small showing where focussed ground based radiometric surveys, soil sampling and trenching will be employed to trace mineralization under surrounding cover.

Two new uranium showings were identified in outcrop in the Boiteau Lake area, called Boiteau Lake North Extension, and in boulders and outcrop east of the Anomaly 7 area, called Anomaly 7 East.

On the Minisinakwa claim group, two boulder samples returned grades of 1.02% and 1.79% U₃O₈ in a magnetite rich metasediment. The source of the mineralized boulders is still unknown on this trend.

43 hand samples were collected and sent to ACT Labs in Ancaster, Ontario for analysis. Assay results have been received and are given in Table 1. Results are very promising and demonstrate the potential of the project lands to host multiple uranium deposits.

Table 1: Uranium Assay Results from 2025 prospecting program.

2026 Field Program

A diamond drilling program currently being planned will consist of approximately 2,000 m of drilling in 6-10 drill holes. It is anticipated that the program will commence once the snow melts and lakes are ice free. The majority of the drilling will be conducted on the Snegamook Uranium Deposit; however, a few holes will target other showings in preparation for a larger program to follow. Ground based grided radiometric surveys and soil sampling will be conducted over several showings to refine target locations for drilling. Anomaly 7 and Boiteau Lake are both considered drill ready targets at this time, while the Brook and Minisinakwa showings, where the some of the better assay samples were collected, both require additional prospecting to refine initial drill targets.

In 2008, a preliminary resource estimate for the Snegamook Uranium Deposit was prepared by Silver Spruce Resources, however it was never finalized in a report or filed. Work to be conducted as part of the 2026 drill program will include:

• Rehabilitate and examine drill core from the Snegamook Uranium Deposit at the Kanairiktok core storage.
• Engage an independent QP to examine the available core and consult on additional drilling at the deposit as part of preparing a maiden resource estimate.
• Twin key drill holes at the deposit to confirm historical mineralization.
• Conduct additional drilling to expand the size of the existing deposit.

Diamond drilling and preparing an updated NI 43-101 compliant resource for this deposit will be a priority for Azincourt. It is anticipated that the drilling planned in 2026 will be sufficient to prepare a resource estimate.

Figure 1: Azincourt land position overlain on the geology of the Central Mineral Belt, Labrador, Canada

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Figure 2: Azincourt's Harrier Project.

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Figure 3: Map of uranium sample locations from 2025 summer prospecting program.

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Figure 4: West block of the Harrier Project with uranium showing locations and 2025 uranium samples highlighted. Samples are coloured based on % U₃O₈.

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Figure 5: Snegamook and Two-Time Zone mineralization map

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About the Central Mineral Belt

Labrador's Central Mineral Belt ("CMB") is one of Canada's most underexplored yet highly prospective uranium regions. Known for its numerous uranium and base metal deposits and showings, the CMB has seen renewed interest due to growing global demand for secure, domestic uranium supply as countries aim to increase nuclear power capacity to meet net-zero emissions goals.

The CMB hosts multiple large-scale uranium discoveries, including Paladin Energy's Michelin Uranium Project (127.7 million lbs U₃O₈), the Moran Lake C Deposit (historical resource of 9.6 Mlbs U₃O₈ and 11.8 Mlbs V₂O₅), and the Anna Lake Deposit (historical resource of 4.9 Mlbs U₃O₈). These known resources demonstrate the Belt's exceptional uranium endowment - but vast areas remain underexplored, with modern techniques only recently being applied across the region.

With its stable jurisdiction, historical high-grade discoveries, and modern exploration momentum, the CMB is emerging as one of North America's most exciting uranium exploration corridors.

Qualified Person

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved on behalf of the Company by C. Trevor Perkins, P.Geo., Vice President, Exploration of Azincourt Energy, and a Qualified Person as defined by National Instrument 43-101.

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 its Snegamook and Harrier uranium projects, located in the Central Mining Belt of Labrador.

*The historical results, interpretation and drill intersections described here in have not been verified and are extracted from news releases issued by Silver Spruce Resources Inc. on April 24, 2008, and August 12, 2008, as well as annual Management Discussion and Analysis documents filed on www.sedarplus.ca, and Koba Resources Limited on April 11, 2024, and August 20, 2024, which can be found at https://kobaresources.com/investors/asx-announcements/. The Company has not completed sufficient work to confirm and validate any of the historical data contained in this news release. The Company considers the historical work a reliable indication of the potential of the Harrier Project and the information may be of assistance to readers.

The information on the Michelin, Morin Lake C, and Anna Deposits has been extracted from the websites and investor presentations of Paladin Energy Ltd. and ATHA Energy Corp.

ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.

"Alex Klenman"
Alex Klenman, President & CEO

For further information please contact:

Azincourt Energy Corp.
1430 - 800 West Pender Street
Vancouver, BC V6C 2V6
www.azincourtenergy.com

Cautionary Statement Regarding Forward-Looking Statements

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.

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