AZINCOURT ENERGY CORP. announce that construction of the exploration camp for the winter 2022 exploration program has commenced at the East Preston uranium project, located in the western Athabasca Basin, Saskatchewan, Canada. Discovery Mining Services is building the exploration camp at Snoop Lake and will maintain, staff, and manage the camp for the duration of the program, under the supervision of TerraLogic Exploration Inc. In addition, drilling and geological crews will be arriving on site in the next few days, and drilling is anticipated to commence within the next week, utilizing two diamond drill rigs provided by Full Force Drilling Ltd. The 73 km winter road to access the property and campsite was completed by Accurate Industries who will maintain the road and facilitate transport of fuel and supplies to camp for the duration of the drill program.

TerraLogic Exploration Inc. will facilitate and execute a planned diamond drilling program under the guidance and supervision of Azincourt's Vice President, Exploration, Trevor Perkins, P.Geo, and Jarrod Brown, M.Sc., P.Geo, Chief Geologist and Project Manager with TerraLogic Exploration. The program will consist of a minimum of 6,000m of drilling in 30-35 drill holes. Drilling will focus on the A-G and K-Q trends, commencing in the G Zone where the 2021 drill program ended and where elevated uranium levels were encountered.

The program will continue to evaluate the G zone to the south and then move to assess the K-Q trend. The program may be modified as results warrant. The primary target area for the 2022 program continues to be the conductive corridors from the A-Zone through to the G-Zone (A-G Trend) and the K-Zone through to the Q-Zone (K-Q Trend) (Figures 1 and 2).

The selection of these trends is based on a compilation of results from the 2018 through 2020 ground-based EM and gravity surveys, property wide VTEM and magnetic surveys, and the 2019 through 2021 drill programs, the 2020 HLEM survey indicates multiple prospective conductors and structural complexity along these corridors. The 2019-2021 drilling programs on the A-G Trend confirmed that geophysical conductors comprise structurally disrupted zones that are host to accumulations of graphite, sulphides, and carbonates. Anomalous radioactivity has been demonstrated to exist within these structurally disrupted conductor zones.

The 2022 drilling program will target similar structurally disrupted zones prioritized on the presence and strength of corresponding electromagnetic, magnetic and gravity geophysical anomalies.