AZINCOURT ENERGY CORP. announced that the 2023 exploration program has been completed at the East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada. Drilling for the 2023 program at the East Preston Project commenced on February 2nd and was complete on March 8th.

In total 3,066 metres has been completed in 13 drill holes. After some initial startup delays due to extreme weather variations, two drill rigs were able to complete 12 drill holes and one abandoned due to drilling difficulties. Drilling was focused on the G, K, H, and Q zones with prior progress reported in a news release dated February 28th, 2023.

Demobilization of the drill equipment is complete, and the teardown of the camp is underway. Decommissioning of the road is expected to be complete by the first week in April. The winter 2023 drill program was executed by Terralogic Exploration Inc. 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.

Field activities were supervised by Laura Tennent, B.Sc., Geologist and Project Manager with TerraLogic Exploration. Increased program costs associated with road construction, fuel, supplies, and weather led to an overall reduction in planned meterage and the Joint Venture partners increasing the program budget to facilitate getting as much information as possible this field season. The priority of the drill program was to continue to evaluate the alteration zones and elevated uranium identified in the winter of 2022 with a focus on the G, K, H and Q Zones.

Drilling on the northeast trending G-Zone consisted of three holes to follow up 2022 results. Extensive hydrothermal alteration and evidence of east-west cross-cutting structures have been intersected along the southern portion of the zone. The alteration zone is highlighted with intervals of hydrothermal hematite alteration and extensive evidence for a steep east-west fault cross-cutting the main northeast trending structure and graphitic lithologies.

Elevated radioactivity was intersected in EP0045 and EP0047. On the north end of the K-Zone, three holes were completed. Drilling has intersected extensive structure and hydrothermal alteration, increasing the length of this alteration zone by 300 meters to 1500 meters long.

Extensive clay alteration within the structural zone is an indication of upgraded prospectivity and vectoring towards potential mineralization. Samples of clay alteration were analyzed by Short Wavelength Infrared Reflectance (SWIR, sometimes referred to as "PIMA") to confirm the clay species. All three holes contained illite and kaolinite clay species, with EP0049 also having dravite identified within the structural zone.