Azincourt Energy News: Key Takeaways

• Summer fieldwork began mid-August with a two-week helicopter-supported reconnaissance, prospecting, and geological/structural mapping program across priority areas at Harrier.
• Diamond drilling is scheduled to start in early September, targeting about 2,000 metres in 6 to 10 holes at the Snegamook uranium deposit.
• Azincourt said the Snegamook drilling is intended to collect confirmatory geological data that could support evaluation of a future mineral resource estimate, subject to verification of historical data and NI 43-101 data requirements.
• Priority surface targets include the Brook Showing (2025 sampling: 6.28% U3O8; previous sampling: 4.86% U3O8) and other areas including Boiteau Lake, Anomaly 7, and Minisinakwa (two boulder samples: 1.02% and 1.79% U3O8).
• The company entered a marketing services agreement with Native Ads, Inc. with a total campaign budget of US$150,000, expected to run about 12 months, subject to TSX Venture Exchange approval.

What happened?

The company said its 2026 program is designed to build on 2025 fieldwork by advancing known uranium occurrences and untested radiometric anomalies toward drill-ready status, while also carrying out a focused drill campaign at Snegamook.

At Snegamook, Azincourt plans to rehabilitate and examine historical drill core at the Kanairiktok core storage facility, engage an independent Qualified Person to examine available core and consult on additional drilling, twin selected historical drill holes to confirm mineralization, and drill to test the extent of known mineralization. The company noted a preliminary resource estimate for Snegamook was prepared in 2008 by Silver Spruce Resources but was never finalized in a report or filed.

Azincourt also provided historical context and check-sampling from its 2025 work, while cautioning that historical data have not been independently verified by the company. It reported a 10 cm check sample from drill hole SN-08-06 returned 2.71% U3O8 from an interval where historical sampling indicated 0.97% U3O8 over 0.5 m. A 10 cm check sample from SN-08-18 returned 0.35% U3O8. The company stated these short, selective samples should not be considered representative of the grade or width of historical intervals or of the deposit generally.

Field activities are being run from the Florence Lake Exploration Camp, about 170 km north of Goose Bay, Labrador, under the supervision of C. Trevor Perkins, Vice President of Exploration. The company said camp and helicopter services are contracted through Titjaluk Logistics Ltd., and drilling services are contracted through Quesnel Brothers Diamond Drilling Ltd.

Company Commentary

"This late-summer program represents an important step forward for Azincourt as we begin advancing the Snegamook Uranium Deposit and broader Harrier Project in a more systematic way," said Mark Tommasi, CEO of Azincourt Energy. "With drilling, camp and helicopter services now contracted, and with the launch of our updated corporate website, we are focused on improving market visibility while executing a field program designed to confirm historical mineralization, support future resource work, and continue building a pipeline of quality uranium targets in Labrador."

"Azincourt’s initial drilling at Snegamook is designed to confirm selected historical mineralized intervals, improve our understanding of the deposit geometry, and test opportunities to expand known mineralization," commented Trevor Perkins, Azincourt Energy’s Vice President of Exploration. "In parallel, 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."

Why this matters for investors

The start of drilling and associated fieldwork marks an operational catalyst for Azincourt at Harrier, with near-term activity focused on validating historical uranium mineralization at Snegamook and advancing other targets toward potential future drilling. The company’s stated objective to gather confirmatory data and review historical core is relevant because it frames whether Snegamook could progress toward a maiden NI 43-101 compliant mineral resource estimate, which remains contingent on verification of historical data and sufficient compliant information from current and future programs. Separately, the US$150,000 marketing-services engagement represents a disclosed cash commitment (subject to TSX Venture Exchange approval) and outlines an expected 12-month campaign timeline.