Mr. Alex Klenman reports

AZINCOURT ENERGY ANNOUNCES CLOSING OF PRIVATE PLACEMENT UNDER THE LISTED ISSUER FINANCING EXEMPTION (LIFE)

Azincourt Energy Corp., further to its news releases dated Dec. 2, 2025, and Dec. 15, 2025, has completed its non-brokered private placement, under the listed issuer financing exemption (LIFE) (as defined below), for gross proceeds of $1,031,000. In connection with the offering, the company issued 20.62 million units, with each unit consisting of one postconsolidation (as defined below) common share of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one share at a price of seven cents at any time on or before Dec. 23, 2028. The company plans to use the proceeds raised from the offering for general working capital purposes and for exploration activities at the company's Harrier project in Newfoundland and Labrador.

In connection with the closing of the offering, the company has paid or will pay an aggregate of $53,500 in finders' fees, and has issued an aggregate of 1.07 million finders' warrants to eligible arm's-length parties pursuant to exchange policies. Each finder's warrant will be exercisable to acquire a share at a price of seven cents per share for a period of 36 months.

The securities issued under the offering will not be subject to a hold period in Canada, subject to any hold periods required by the exchange. The units were offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106, Prospectus Exemptions, as amended by CSA Coordinated Blanket Order 45-935, and are not subject to a hold period pursuant to applicable Canadian securities laws.

Effective Dec. 23, 2025, the company implemented the previously announced share consolidation on the basis of one postconsolidation common share for six preconsolidation common shares. All references in this news release to common shares in the capital of the company are on a postconsolidation basis.

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 Harrier project, located in the Central mining belt of Labrador, and its East Preston uranium project, located in the Athabasca basin, Saskatchewan.

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