Canada Markets open in 2 hrs 24 mins

Azincourt Energy Announces Commencement of Work Program on East Preston Project JV

VANCOUVER, British Columbia, Jan. 22, 2018 (GLOBE NEWSWIRE) -- AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (AAZ.V) is pleased to announce the commencement of the previously announced exploration work program at the Company’s East Preston uranium project with option partners Skyharbour Resources Ltd. and Clean Commodities Corp.  The East Preston project is a highly prospective uranium project located in the western Athabasca Basin, Saskatchewan, Canada.

East Preston Program highlights

  • Extensive re-interpretation of historical helicopter-borne VTEM and ground geophysical data by expert geophysical consultants highlights untested conductor systems and corridor trends
  • Ground geophysical program planned to refine drill targets over prospective conductor trends
  • Grid establishment, Horizontal Loop Electromagnetic (HLEM) and Gravity surveys to be used
  • Temporary Camp & Exploration Work permits received from Saskatchewan Ministry of Environment and contractors are mobilizing to start the work program

East Preston Project 2017 Geophysical Program

Azincourt engaged a highly experienced geophysical consultant, Mr. Lawrence Bzdel, PGeo, to interpret the extensive historical airborne and ground geophysical data set and build on the already rich, previous work. The re-interpretation work has identified and prioritized numerous conductor trends, with the highest priorities being the A, B and D trends, respectively.

Trend A is a very long, wide N to NE trending conductive corridor with an observed flexure bound and crosscut by interpreted E-W cross-faults. Trend B is a long linear conductor system coincident with an interpreted NE trending fault. Trend D is a NNW trending conductor system parallel to an interpreted fault.

Grid establishment will precede the planned surveys. The grid lines will be perpendicular to the interpreted VTEM conductive trends. The HLEM and Gravity surveys will consist of 50-line km of each method.

The HLEM data will be collected with a 200 m Transmitter-Receiver separation, and 50 m station intervals. The survey is designed to accurately identify multiple conductor systems in this shallow depth to basement environment. Unconformity-related uranium deposits are often associated in proximity to basement conductive trends, and represent a first order criteria for discovery.

The Gravity survey will record measurements at 50 m station intervals. Subtle gravity low anomalies can highlight areas of alteration and structural disruption. Gravity highs may represent basement topography, which are also associated with unconformity-related uranium deposits.

This initial ground geophysical program is expected to yield drill targets within previously untested corridors. The Company expects to generate enough targets for several drill programs.

“We are happy to get to work at East Preston, the timing is excellent,” said Alex Klenman, president and CEO. “With the uranium sector poking it’s head out of an extended hibernation, we feel that along with the addition of lithium and other critical clean energy elements to our expanding project portfolio, Azincourt is poised to continue its growth pattern into 2018 and beyond,” continued Mr. Klenman.

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 on behalf of the company by Ted O’Connor, P.Geo. a director of Azincourt Energy Corp., as well as a qualified person.

About Azincourt Energy Corp.

Azincourt Energy is a Canadian-based resource company specializing in the strategic acquisition, exploration and development of alternative energy/fuel properties, including uranium, lithium, cobalt and other elements.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release includes “forward-looking statements”, including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Azincourt.  Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.  Such forward-looking information represents management’s best judgment based on information currently available.  No forward-looking statement can be guaranteed and actual future results may vary materially.

For further information please contact:

Alex Klenman, President & CEO

Tel: 604-638-8063

info@azincourtenergy.com

1430 – 800 West Pender Street
Vancouver, BC  V6C 2V6

info@azincourtenergy.com
www.azincourtenergy.com

Photos accompanying this announcement are available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a636b76b-8270-499d-ba7e-9d068f8fe791

http://www.globenewswire.com/NewsRoom/AttachmentNg/62651850-26b9-4112-b069-0a3088cdebf2