AZINCOURT ENERGY CORP. announced that drilling has commenced for the winter 2022 exploration program at the East Preston uranium project, located in the western Athabasca Basin, Saskatchewan, Canada. Full Force Drilling Ltd. is providing two diamond drill rigs and conducting the drilling program, under the supervision of TerraLogic Exploration Inc. The first drill rig is operational, and the second rig should commence within days.

TerraLogic Exploration Inc. is executing the winter 2022 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 in last season's abbreviated drill program, elevated uranium levels were obtained.

This drill program will continue to evaluate the G zone to the south and assess the K-H-Q trend. The program may be modified, and drill holes adjusted at any time as results warrant. The 73-km winter road to access the property and campsite is complete and camp construction is in the final stages.

Accurate Industries will maintain the winter access road and facilitate transport of fuel and supplies to camp for the duration of the program. Discovery Mining Services will maintain, staff, and manage the exploration camp at Snoop Lake for the duration of the program. The program is expected to continue until mid to late March.

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 H and Q-Zones (K-H-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.