Azincourt Energy Advances Drill Program at Snegamook Uranium Deposit and Greater Harrier Uranium Project

• The 2,000 m diamond drill program is designed to confirm and expand the Snegamook Uranium Deposit, where historical drilling intersected multiple broad zones of mineralization, including 0.974% U₃O₈ over 0.5 m.

• Preparing an updated NI 43-101 compliant resource for the Snegamook deposit will be a priority for Azincourt.

• The Harrier Project hosts over a dozen uranium mineralized zones, including surface samples returning up to 7.48% U₃O₈, and >1% U₃O₈ in ten separate areas - demonstrating robust grade potential across the property.

• With only 124 historical drill holes completed across a 49,400 ha land package, the project remains significantly underexplored.

• Azincourt's 2025 field program validated past drill sites and identified two new uranium showings at Boiteau Lake and east of Anomaly 7, providing additional high-priority drill targets.

Vancouver, British Columbia--(Newsfile Corp. - November 19, 2025) - AZINCOURT ENERGY CORP. (TSXV: AAZ) (OTCQB: AZURF) ("Azincourt" or the "Company") is pleased to announce that planning is underway for a diamond drilling program at the highly prospective Harrier Project in the Central Mineral Belt in Newfoundland & Labrador, Canada, that includes the Snegamook uranium deposit.

About the Harrier Project

Azincourt's Harrier Project covers 49,400 hectares over five distinct licence groups, representing one of the largest land positions in the Central Mineral Belt. The Harrier Project covers the Snegamook Uranium Deposit and straddles key uranium-bearing structural corridors directly adjacent to and on trend with Atha Energy's Moran Lake (9.6 Mlbs U₃O₈ and 11.8 Mlbs V₂O₅) and Anna Lake (4.9 Mlbs U₃O₈) deposits, and Paladin Energy's Michelin deposit (127.7 million lbs U₃O₈) - placing Azincourt at the center of a proven and growing uranium camp.

The Harrier Project, with over a dozen known uranium mineralization zones and surface rock samples grading up to 7.48% U₃O₈ (and >1.0% U₃O₈ in 10 distinct zones), offers a rare combination of grade, scale, and geological continuity. Notably, only 124 drill holes (19,851 metres total, over half of this on the former Snegamook project area) have ever been completed across the combined property - leaving ample opportunity for new discovery with modern methods.

2025 Summer Work Program

The introductory work program was completed in late August (News release dated Oct 1, 2025) consisting of helicopter supported reconnaissance of existing identified uranium occurrences and prospecting of previously identified radiometric anomalies. Eleven previously identified uranium showings and the Snegamook Deposit were visited by Azincourt's VP Exploration to get an understanding of the characteristic and settings of the uranium mineralization present on the property. Two new uranium showings were identified in outcrop in the Boiteau Lake area and in boulders and outcrop east of the Anomaly 7 area. Assay sample results are still pending for these areas.

In the Snegamook Deposit area, the location of the drill core from the 2007-2008 exploration programs was confirmed at the old camp site used by Silver Spruce Resources. Much of the core is in decent shape considering it has been exposed to the elements for almost 20 years. Several drill holes that intersected the Snegamook Deposit mineralization and Snegamook Southeast showing were examined and a few samples were collected to confirm uranium grades. Reconnaissance of the deposit area was undertaken to examine ground conditions for future drilling and examine the old drill pads for confirmation of hole numbers, locations, and hole orientation. Many drill pads were easily recognizable and marked with casings. Metal tagged wooden posts were present at many sites allowing easy confirmation of the hole numbers.

2026 Diamond Drilling Program

The diamond drilling program currently being planned will consist of approximately 2,000 m of drilling in 6-10 drill holes. It is anticipated that the program will commence once the snow melts and lakes are ice free. The majority of the drilling will be conducted on the Snegamook Deposit; however, a number of holes will target the Boiteau Lake area in preparation for a larger program to follow (see Figure 2 for location within the Harrier Project).

Snegamook Deposit

A high priority target for diamond drilling is the Snegamook Uranium Deposit, where drilling in 2007 and 2008 to follow up a radon gas anomaly identified uranium mineralization located 1.3 km along strike to the southeast of the Two Time Zone (Indicated and Inferred resource of 5.55 Mlb U₃O₈, Silver Spruce Resources, June 2008). 17 drill holes intersected a 20 to 50 m wide section of uranium bearing brecciated and altered monzodiorite with moderate to strong chlorite, hematite and carbonate alteration, the same geological setting as the Two Time Zone. (Figures 3 and 4)

A review of existing sample data for the Snegamook Deposit was completed. Of note is that the best grade is encountered in hole SN-08-06, at 0.974% U₃O₈ / 0.5 m and the deposit is still open to the southeast of this hole towards the Snegamook Southeast showing.

In 2008, a preliminary resource estimate for the Snegamook Zone was prepared by Silver Spruce Resources, however it was never finalized in a report or filed. Work to be conducted as part of the preliminary 2026 drill program will include:

• Rehabilitate and examine drill core from the Snegamook Deposit at the Kanairiktok core storage.
• Engage an independent QP to examine the available core and consult on additional drilling at the deposit as part of preparing a maiden resource estimate.
• Twin key drill holes at the deposit to confirm historical mineralization.
• Conduct additional drilling to expand the size of the existing deposit.

Diamond drilling and preparing an updated NI 43-101 compliant resource for this deposit will be a priority for Azincourt.

"We are excited to commence drilling in Labrador. There is no shortage of drill ready targets located on the Harrier Project," commented Trevor Perkins, Azincourt Energy's VP of Exploration. "Our priority is to confirm the historical results and begin an expansion of the Snegamook Deposit in preparation for a preliminary resource estimate for the deposit. At the same time, we want to advance other targets on the property to unlock the value this property contains," continued Mr. Perkins.

Figure 1: Azincourt land position overlain on the geology of the Central Mineral Belt, Labrador, Canada

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Figure 2: Azincourt's Harrier Project.

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Figure 3: Snegamook and Two-Time Zone mineralization map

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Figure 4: Snegamook Deposit Historical Drilling Map. 

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About the Central Mineral Belt

Labrador's Central Mineral Belt ("CMB") is one of Canada's most underexplored yet highly prospective uranium regions. Known for its numerous uranium and base metal deposits and showings, the CMB has seen renewed interest due to growing global demand for secure, domestic uranium supply as countries aim to increase nuclear power capacity to meet net-zero emissions goals.

The CMB hosts multiple large-scale uranium discoveries, including Paladin Energy's Michelin Uranium Project (127.7 million lbs U₃O₈), the Moran Lake C Deposit (historical resource of 9.6 Mlbs U₃O₈ and 11.8 Mlbs V₂O₅), and the Anna Lake Deposit (historical resource of 4.9 Mlbs U₃O₈). These known resources demonstrate the Belt's exceptional uranium endowment - but vast areas remain underexplored, with modern techniques only recently being applied across the region.

With its stable jurisdiction, historical high-grade discoveries, and modern exploration momentum, the CMB is emerging as one of North America's most exciting uranium exploration corridors.

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 and approved on behalf of the Company by C. Trevor Perkins, P.Geo., Vice President, Exploration of Azincourt Energy, and a Qualified Person as defined by National Instrument 43-101.

About Azincourt Energy Corp.

Azincourt is a Canadian-based resource company specializing in the strategic acquisition, exploration, and development of alternative energy/fuel projects, including uranium, lithium, and other critical clean energy elements. The Company is currently active at its East Preston uranium project located in the Athabasca Basin, Saskatchewan, and its Snegamook and Harrier uranium projects, located in the Central Mining Belt of Labrador.

*The historical results, interpretation and drill intersections described here in have not been verified and are extracted from news releases issued by Silver Spruce Resources Inc on April 24, 2008, and August 12, 2008, as well as annual Management Discussion and Analysis documents filed on www.sedarplus.ca, and Koba Resources Limited on April 11, 2024, and August 20, 2024, which can be found at https://kobaresources.com/investors/asx-announcements/. The Company has not completed sufficient work to confirm and validate any of the historical data contained in this news release. The Company considers the historical work a reliable indication of the potential of the Harrier Project and the information may be of assistance to readers.

The information on the Michelin, Morin Lake C, and Anna Deposits has been extracted from the websites and investor presentations of Paladin Energy Limited and Atha Energy Corp.

ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.

"Alex Klenman"
Alex Klenman, President & CEO

Cautionary Statement Regarding Forward-Looking Statements

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.

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