Azincourt Energy options Sylvia Lake Uranium Project, Labrador

Azincourt Energy Corp. [TSXV: AAZ; OTCQB: AZURF] reported that it has entered into a definitive property option agreement with a private company (the Optionor) that is arm’s-length to the company, undero which Azincourt has been granted the option to acquire a 100% interest in two mineral claim block licences in Labrador’s Central Mineral Belt, Newfoundland and Labrador, known as the Sylvia Lake Uranium Project.

The project is located approximately 100 km northwest of Happy Valley-Goose Bay, Labrador, within the Central Mineral Belt (CMB). Sylvia Lake is situated along the southern margin of the CMB, between the Michelin uranium deposit and the Madsen trend, and represents a known uranium showing hosted in felsic volcanic rocks of the Sylvia Lake Formation.

The project consists of two mineral licences, #040160M and #040178M, covering approximately 6,725 hectares.

The CMB hosts several uranium deposits and showings, including the Michelin uranium deposit, the Moran Lake C Deposit and the Anna Lake Deposit. These known occurrences demonstrate the uranium endowment of the belt and provide geological context for continued exploration in the region. Mineralization hosted on nearby or regional properties is not necessarily indicative of mineralization that may be hosted on the Sylvia Lake Project.

Highlights of the Sylvia Lake Project include high-grade uranium confirmed at surface, including reported historical grab samples of up to 2.72% U₃O₈, along with additional reported results of 0.98% U₃O₈ and 0.62% U₃O₈.

Historical trenching reported uranium mineralization, including 2.0 metres grading 0.243% U₃O₈ in Trench SY-1, 4.0 metres grading 0.131% U₃O₈ in Trench SY-2, and 1.0 metre grading 0.015% U₃O₈ in Trench SY-3.

Historical drilling completed in 2007 intersected the mineralized horizon in each hole drilled, with reported results including 0.30 metres grading 0.237% U₃O₈, 0.54 metres grading 0.043% U₃O₈ and 0.34 metres grading 0.027% U₃O₈.

Mineralization is interpreted to be structurally controlled and associated with hematization, shearing and fracture development, with visible autunite reported along fracture surfaces.

Historical drilling and surface work define a south-dipping mineralized sheet interpreted to have approximately 70 metres of strike length and approximately 27 metres of down-dip extent, with mineralization remaining open along strike and at depth.

The showing is located within approximately 300 metres of the intersection of multi-kilometre-scale structures identified in magnetic data and is associated with a coherent gravity-high anomaly.

The Sylvia Lake showing is a structurally controlled uranium occurrence hosted in felsic volcanic rocks of the Sylvia Lake Formation. Mineralization is associated with hematization, shearing and fracture development, with visible autunite reported along fracture surfaces.

Historical work completed by Shell Canada in the 1970s identified uranium mineralization through trenching. Reported results from historical trenching include 2.0 metres grading 0.243% U₃O₈ in Trench SY-1, 4.0 metres grading 0.131% U₃O₈ in Trench SY-2, and 1.0 metre grading 0.015% U₃O₈ in Trench SY-3.

In 2007, prospecting successfully relocated historical trenches and drill collars. Re-sampling and reconnaissance mapping confirmed the geological setting and tenor of mineralization, with grab samples reportedly returning up to 2.72% U₃O₈, together with additional reported results of 0.98% U₃O₈ and 0.62% U₃O₈. The Company cautions that grab samples are selective in nature and may not be representative of mineralization across the Project.

Also in 2007, 402 metres of diamond drilling were completed. The drilling reportedly intersected the mineralized horizon in each hole drilled, confirming the continuity of mineralization between surface exposures and subsurface intersections. Reported drill results include 0.30 metres grading 0.237% U₃O₈, 0.54 metres grading 0.043% U₃O₈, and 0.34 metres grading 0.027% U₃O₈.

Historical drilling and surface data together define a continuous, south-dipping mineralized sheet hosted within felsic volcaniclastic rocks adjacent to a chloritic phyllite unit. The mineralized zone is interpreted to have been traced over approximately 70 metres of strike length and approximately 27 metres down dip and remains open along strike and at depth.

The broader exploration thesis at Sylvia Lake is based on structural control. The known mineralization occurs within a structural corridor interpreted from historical work and modern geophysical datasets. The showing lies within approximately 300 metres of the intersection of multi-kilometre-scale structures identified in magnetic data and is associated with a coherent gravity-high anomaly.

The company believes future exploration should focus on structural intersections, flexures and dilation zones where increased permeability may support the development of thicker or higher-grade zones of uranium mineralization.

Potential future work may include compilation and verification of historical data, detailed radiometric surveying, geological mapping, prospecting, geochemical sampling and targeted drilling to test the known mineralized structure and priority structural targets along strike and down dip.

“Sylvia Lake gives Azincourt exposure to a known uranium occurrence with high-grade surface results, historical trenching and limited drilling that has demonstrated continuity within a defined structural setting,” said C. Trevor Perkins, P.Geo., Vice President, Exploration. “The next phase of work should focus on refining the structural model and identifying areas where thickness and grade may increase, particularly around interpreted structural intersections and dilation zones.”

“We have been looking to strengthen Azincourt’s uranium portfolio with opportunities that offer both known mineralization and meaningful exploration upside,” said Mark Tommasi, CEO of Azincourt. “Sylvia Lake provides that combination. It is located in Labrador’s Central Mineral Belt, a district with a demonstrated history of uranium discoveries, and gives the Company an opportunity to advance a project where high-grade surface mineralization, historical drilling and modern geophysical interpretation all support a compelling exploration thesis.”

Under the terms of the Option, and subject to TSX Venture Exchange approval, the company may acquire a 100% interest in the project by paying aggregate cash consideration of $12,000, issuing an aggregate of 15,000,000 common shares and incurring aggregate exploration expenditures of $250,000 on the project.

All securities issued in connection with the Option will be subject to a four-month-and-one-day statutory hold period. A finder’s fee totaling 1,395,000 common shares is payable by the company to an arm’s-length third party in connection with the Option, of which 526,667 shares are payable upon closing of the Option, 493,333 shares are payable upon completion of the share issuance owing on the twelve-month anniversary, and 375,000 shares are payable upon completion of the share issuance owing on the twenty-four-month anniversary. The Option remains subject to TSX Venture Exchange approval.

The company also announces its intention to complete a non-brokered private placement of up to 8,888,888 flow-through units of the company (the FT Units) at a price of $0.045 per FT Unit for gross proceeds of up to approximately $400,000, and up to 4,444,444 non-flow-through units of the company (the NFT Units) at a price of $0.045 per NFT Unit for gross proceeds of up to approximately $200,000, for aggregate gross proceeds of up to approximately $600,000 (the Offering).

Each FT Unit will consist of one common share in the capital of the Company issued as a flow-through share and one-half of one transferable common share purchase warrant. Each NFT Unit will consist of one common share in the capital of the company and one-half of one transferable common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share of the Company at an exercise price of $0.07 for 24 months from the date of issuance.

The company may pay finder’s fees to eligible arm’s-length finders in connection with the Offering. Any finder’s fees payable may consist of cash, finder warrants or a combination thereof, as permitted by the TSX Venture Exchange. The Offering remains subject to the approval of the TSX Venture Exchange.

The company also announces that it has entered into an investor relations advisory services agreement dated August 1, 2026 with Vectis Capital Inc., an investor relations advisory firm headquartered in Windsor, Ontario. Under the agreement, Vectis will provide investor relations advisory services to Azincourt, including, but not limited to, increasing exposure through private trading groups, social media and influencer communities, implementing tagged article awareness strategies, and online digital marketing.

Azincourt has agreed to pay a fee of US$150,000 to Vectis, payable in cash in advance of Vectis commencing its services, subject to acceptance by the TSX Venture Exchange. The term of the Vectis Agreement is three months following TSX Venture Exchange acceptance.

Tyler Troup, Managing Director of Vectis, will lead the engagement. Mr. Troup has more than 17 years of experience in investor relations and has worked with emerging growth companies listed on multiple exchanges in several jurisdictions.

Azincourt will not issue any securities to Vectis as compensation for its services. Vectis and its principal, Tyler Troup, are at arm’s length to Azincourt and, to the knowledge of Azincourt, do not beneficially own, directly or indirectly, any securities of Azincourt. Vectis is not engaged in market-making activities.

The company has also entered into a services agreement dated August 4, 2026 with Fairfax Partners Inc. pursuant to which Fairfax will provide digital marketing and investor communications services in connection with a dedicated Sunrise Investor campaign. The services are expected to include a campaign landing page on the Sunrise Investor platform, long-form interview features, newsletter placements to the Sunrise Investor subscriber base, campaign setup and management across approved distribution channels, and monthly performance reporting.

The initial term of the Fairfax engagement is six months, unless terminated earlier in accordance with its terms. The fee for the initial six-month campaign is CAD$20,000, plus applicable taxes. The agreement also provides that the aggregate amount payable for all Momentum IR or Sunrise Investor activity, including the initial campaign fee, may not exceed CAD$100,000 in any calendar year. This amount is not a minimum commitment and no additional services may be provided unless approved by the Company in writing. Fairfax will be compensated in cash only.

Azincourt is active at its East Preston uranium project in the Athabasca Basin, Saskatchewan, and is building a portfolio of uranium exploration opportunities in Labrador’s Central Mineral Belt.