Announcement • Sep 05

Azincourt Energy Commences 2026 Field Program At Snegamook Uranium Deposit And Greater Harrier Uranium Project

Azincourt Energy Corp. announced that work has commenced for the summer diamond drilling and prospecting program at the Company's Harrier Uranium Project, located in the Central Mineral Belt of Labrador, Canada, which includes the Snegamook Uranium Deposit. More than a dozen uranium mineralization zones have been identified across the Harrier Project, with historical surface rock samples returning grades of up to 7.48% U3O8 and samples from 10 separate zones returning more than 1.0% U3O8. Historical exploration across the combined property consists of 124 drill holes totaling approximately 19,851 metres, more than half of which were completed on the former Snegamook project area. The summer work program commenced in mid-August with a two-week helicopter-supported reconnaissance, prospecting, and geological and structural mapping program across priority areas of the greater Harrier Project. The program will build on the Company's 2025 field work and will focus on advancing known uranium occurrences and untested radiometric anomalies toward drill-ready status. Priority areas include the Brook Showing, where 2025 sampling returned 6.28% U3O8 and previous sampling returned 4.86% U3O8. Follow-up work is expected to include focused ground radiometric surveying, soil sampling, and outcrop stripping to better define the extent of mineralization beneath surrounding cover. Additional areas of interest include uranium showings in the Boiteau Lake area, boulder and outcrop occurrences in the Anomaly 7 area, and the Minisinakwa claim group, where two boulder samples returned 1.02% and 1.79% U3O8 in magnetite-rich metasediment. The source of the mineralized boulders at Minisinakwa remains unknown and will be evaluated as part of future exploration planning. The diamond drilling program is scheduled to commence in early September and is expected to consist of approximately 2,000 metres in 6 to 10 drill holes at the Snegamook uranium deposit. The program is designed to provide additional geological and confirmatory information that may support the Company's evaluation of a potential future mineral resource estimate, subject to verification of the historical data, the results of the 2026 program and the availability of sufficient data meeting applicable NI 43-101 requirements. The Company has entered into an agreement dated September 1, 2026 with Native Ads Inc. Native Ads will provide strategic digital media, marketing and data analytics services, including content and web development, digital advertising and media distribution, and campaign reporting and optimization. The total campaign budget is USD 150,000, payable in full upon execution of the agreement. The campaign is expected to commence in September 2026 and run for approximately 12 months, subject to scheduling adjustments and budget exhaustion. The priority for this summer's exploration program is diamond drilling at the Snegamook Uranium Deposit. Historical drilling completed in 2007 and 2008 identified uranium mineralization approximately 1.3 kilometres southeast of the Two Time Zone. Seventeen historical drill holes intersected a 20- to 50-metre-wide section of uranium-bearing, brecciated and altered Monzo diorite characterized by moderate to strong chlorite, hematite, and carbonate alteration, which is interpreted to represent a geological setting similar to the Two Time Zone. As part of Azincourt's ongoing review of historical exploration data and available core, check sampling was completed during the summer 2025 prospecting program. 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 uranium deposit, returned 0.35% U3O8. These check samples provide additional evidence of uranium mineralization in the Snegamook area. Because of their short and selective nature, the results should not be considered representative of the grade or width of the historical intervals or of the deposit generally. 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: Rehabilitating and examining historical drill core from the Snegamook Uranium Deposit at the Kanairiktok core storage facility; Engaging an independent Qualified Person to examine available core and consult on additional drilling in connection with potential future mineral resource work; Twinning selected historical drill holes to confirm mineralization; and Completing additional drilling to test the extent of known mineralization. Diamond drilling, historical core review, and the collection of additional confirmatory data are priorities for Azincourt as the Company evaluates the preparation of a maiden NI 43-101 compliant mineral resource estimate for the Snegamook Uranium Deposit. All activities for the work program are being conducted from the Florence Lake Exploration Camp approximately 170 km north of Goose Bay, Labrador, under the supervision of C. Trevor Perkins. Camp and helicopter services have been contracted through Titjaluk Logistics Ltd. of Roddickton, Newfoundland, with drilling services contracted through Quesnel Brothers Diamond Drilling Ltd. of Denare Beach, Saskatchewan. The broader 2026 field program will continue advancing additional uranium occurrences across Harrier, with the objective of developing a stronger pipeline of drill-ready targets for future programs.

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Azincourt Energy Commences 2026 Field Program At Snegamook Uranium Deposit And Greater Harrier Uranium Project

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