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Final Closing of Cash Paying Royalty on Caserones Copper Mine in Chile

  

TheNewswire – 03 September 2021 – Altus Strategies Plc (AIM:ALS) (TSXV:ALTS) (OTC:ALTUF) announces it has completed the second and final closing…

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TheNewswire - 03 September 2021 - Altus Strategies Plc (AIM:ALS) (TSXV:ALTS) (OTC:ALTUF) announces it has completed the second and final closing (“Final Closing”) of the recently announced agreement to acquire an effective 0.418% net smelter return royalty (“NSR”) interest on the producing Caserones Copper Mine (“Caserones”), located in the Atacama region of northern Chile (the “Acquisition”) (see Altus news releases dated 17 and 23 August 2021). Altus is acquiring the NSR interest for US$34.1 million through a strategic 50:50 partnership with NYSE American and TSX Venture exchanges listed, EMX Royalty Corporation (“EMX”). Altus and EMX have created a Special Purpose Vehicle (“SPV”) incorporated in Chile that is owned jointly by Altus and EMX. The SPV has now acquired an effective 0.836% NSR royalty for US$68.2 million. Altus has principally financed the Acquisition with a US$29 million acquisition loan facility agreement (“Facility”) provided by La Mancha Fund SCSp (“La Mancha”).

 

Highlights:

  • - Final Closing of Acquisition of a 0.418% NSR interest on Caserones copper mine in Chile

    - Payment of US$7.95M made for balance of 0.418% NSR interest

    - NSR interest is expected to generate cash flow of US$3.2M (post-tax) per year to Altus

    - Caserones has been operating since 2015 and has 17 years of mine life remaining

    - Acquisition part-financed by US$29M loan facility from major shareholder La Mancha

    - La Mancha holds a 35.08% interest in Altus and its Chief Executive is a Director of Altus

    - SPV owned by Altus and EMX to share revenues from a combined 0.836% NSR interest

    - Additional royalty transactions under review globally with a focus on gold and copper

 

Steven Poulton, Chief Executive of Altus, commented:

“We are delighted to announce the final closing of the Acquisition of a significant cash paying royalty on a long-life copper mine in a tier-1 mining jurisdiction. Altus has acquired an effective 0.418% NSR royalty interest on the Caserones copper mine in the Atacama region of Chile, for a cash consideration of US$34.1M. The NSR interest is expected to generate approximately US$3.2 million (post-tax) per year attributable to Altus. The Caserones mine is owned and operated by JX Nippon Mining & Metals Corporation of Japan and has an estimated 17 years of production remaining.

 

“The Acquisition of the NSR interest has been part-financed by a US$29 million acquisition bridge loan facility provided by La Mancha, our largest shareholder, which has recently established a US$1.4 billion mining investment fund. The provision of the facility underscores La Mancha’s commitment to the long-term growth of Altus and the quality of this Acquisition. We are also delighted to have formed a strategic relationship with NYSE American and TSX-V listed EMX Royalty Corp. to acquire the NSR through the creation of a Chilean SPV company. Our partnership with EMX is strengthened by Michael Winn, the Chairman of EMX, who is also a Non-Executive Director of Altus.

 

“In addition to our Acquisition, it is notable that TSX-listed Nomad Royalty Company Ltd, which has a market capitalisation of approximately C$440 million, has recently agreed to purchase a further 0.351% NSR royalty interest on the Caserones mine, increasing their total effective NSR interest to 0.631%. The Nomad transaction underscores the strength of investor interest in this high quality royalty.

 

“Following this Acquisition, Altus will receive significant quarterly royalty income and will have long-term exposure to copper. We expect the demand for copper to remain strong in the years ahead, as the global economy seeks to decarbonise in parallel with continued infrastructure development, urbanisation and wealth creation in emerging markets.

 

“Altus is currently assessing a number of other potential royalty acquisitions globally, alongside our on-going royalty generation programmes in Africa. I look forward to updating shareholders on these activities in due course.”

 

Final Closing of Caserones NSR

The SPV has agreed to purchase 43% of the issued and outstanding shares of an underlying royalty holder, Sociedad Legal Minera California Una de la Sierra Peña Negra (“SLM California”),  through a Share Purchase Agreement with the 16 shareholders of SLM California and thereby acquire indirect ownership of 43% of SLM California’s 1.944% NSR royalty interest in the Caserones property (i.e. a 0.836% NSR royalty interest, held as to 0.418% by Altus and 0.418% by EMX).

 

Under the First Closing announced on 23 August 2021, the SPV acquired 33% of SLM California for US$52.3 million, representing approximately 76% of the NSR being acquired by the SPV. The second and final closing of the remaining 10% of the shares of SLM California has now completed and the final consideration of US$15.9 has been paid by the SPV.

 

Altus expects the Caserones NSR will provide it with immediate and long-term cash flows, in line with its stated growth strategy.

 

Drawdown of Strategic Acquisition Facility from La Mancha

To finance the Acquisition, Altus has drawn down US$29 million from the Facility with La Mancha, which holds a 35.08% interest in the Company. The balance of the consideration is being funded from the Company’s existing cash on hand. Following the Acquisition, Altus has approximately GB£6.3 million / US$8.7 million of cash on hand. The amount drawn down, and interest accrued, under the Facility will be repayable on 17 February 2022.

 

The Facility bears annualised interest at a rate of the three-month United States Dollar (“USD”) London Inter-bank Offered Rate (“LIBOR”) plus 7% for the first three months, and USD LIBOR plus 9% thereafter. The Facility is senior secured against the shares of Altus Royalties Limited, a 100% owned subsidiary of the Company, of which the only material asset is the shareholding in the SPV. The Facility incorporates an automatic prepayment provision which applies to future cash proceeds from equity capital raised by Altus. Interest will be payable on a quarterly basis. No break fees, early repayment fees or other fees are payable by Altus to La Mancha, or to any other party, in connection with the Facility.

 

Caserones Royalty Background

Compania Minera Caserones (“CMC”) and SLM California originally staked the mineral claims that overlie the current Caserones deposit. The 2.88% Caserones NSR was created in a 2009 agreement (“Agreement”) between Minera Lumina Copper Chile S.A. as purchaser and CMC and SLM California as the vendors of the Caserones claims. SLM California and CMC own a 67.5% and 32.5% share of the 2.88% royalty respectively equating to an attributable 1.94% NSR interest for SLM California. Under the Agreement, the NSR interest will be reduced to 2% and 1% if the London Metal Exchange (“LME”) quoted copper price falls below US$1.25 and US$1.00 per pound respectively. The LME copper price is currently US$4.27/lb (as at 16 August 2021).

 

About the Caserones Mine

The Caserones mine is a large, open-pit porphyry copper-molybdenum deposit, located within a 17,000 hectare land package at an elevation of approximately 4,300m above sea level in the borough of Tierra Amarilla, in the Atacama region of northern Chile. The mine is approximately 15km from the border with Argentina, 162km southeast of the city of Copiapó and 800km north of the capital, Santiago.

 

Located at the southern end of the well documented Maricunga mineral belt, the geology of Caserones comprises an Early-Miocene porphyry system associated with a cluster of dacite porphyries and breccias intruding Palaeozoic granitic, volcanic, and metamorphic rocks. Caserones has a well-developed supergene enrichment profile of oxide copper and secondary chalcocite that overlies hypogene sulfide (chalcopyrite-molybdenite) mineralization.

 

The mine is owned and operated by Minera Lumina Copper Chile SpA, an indirect 100% owned subsidiary of JX Nippon Mining & Metals Corporation (“JX Nippon”) of Japan. It produces copper and molybdenum concentrates from a conventional crusher, mill and flotation plant, as well as copper cathodes from a dump leach, solvent extraction and electrowinning plant.

 

The mine has been in operation for five years, following a capital investment of approximately US$4.2 billion. It has a reported average waste to ore strip ratio of 0.47 and in 2020 reportedly produced 104,917 tonnes of copper and 2,452 tonnes of fine molybdenum in concentrates, as well as 22,056 tonnes of fine copper in cathodes. Caserones has 17 years of operation remaining under its current mine plan, along with excellent exploration potential. In a news release dated 9 November 2020, JX Nippon announced plans for “stepping up exploration efforts in areas around the mine” in an effort to expand production and further extend the mine life.

 

Qualified Person

The technical disclosure in this regulatory announcement has been approved by Steven Poulton, Chief Executive of Altus. A graduate of the University of Southampton in Geology (Hons), he also holds a Master's degree from the Camborne School of Mines (Exeter University) in Mining Geology. He is a Fellow of the Institute of Materials, Minerals and Mining and has over 20 years of experience in mineral exploration and is a Qualified Person under the AIM rules and NI 43-101.

 

For further information you are invited to visit the Company’s website www.altus-strategies.com or contact:

 

Altus Strategies Plc

Steven Poulton, Chief Executive

Tel: +44 (0) 1235 511 767

E-mail: [email protected]

SP Angel (Nominated Adviser)

Richard Morrison / Adam Cowl

 

Tel: +44 (0) 20 3470 0470

SP Angel (Broker)

Grant Barker / Richard Parlons

 

Tel: +44 (0) 20 3470 0471

Shard Capital (Broker)

Isabella Pierre / Damon Heath

 

Tel: +44 (0) 20 7186 9927

Yellow Jersey PR (Financial PR & IR)

Charles Goodwin / Henry Wilkinson

Tel: +44 (0) 20 3004 9512

E-mail: [email protected]

 

About Altus Strategies Plc

Altus Strategies (AIM: ALS, TSX-V: ALTS & OTCQX: ALTUF) is a mining royalty company generating a diversified and precious metal focused portfolio of assets. The Company’s differentiated approach of generating royalties on its own discoveries in Africa and acquiring royalties globally through financings and acquisitions with third parties, has attracted key institutional investor backing. The Company engages constructively with all stakeholders, working diligently to minimise its environmental impact and to promote positive economic and social outcomes in the communities where it operates. For further information, please visit www.altus-strategies.com.

 

Cautionary Note Regarding Forward-Looking Statements

Certain information included in this announcement, including information relating to future financial or operating performance and other statements that express the expectations of the Directors or estimates of future performance constitute "forward-looking statements". These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, the completion of planned expenditures, the ability to complete exploration programmes on schedule and the success of exploration programmes. Readers are cautioned not to place undue reliance on the forward-looking information, which speak only as of the date of this announcement and the forward-looking statements contained in this announcement are expressly qualified in their entirety by this cautionary statement.

 

Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. The forward-looking statements contained in this announcement are made as at the date hereof and the Company assumes no obligation to publicly update or revise any forward-looking information or any forward-looking statements contained in any other announcements whether as a result of new information, future events or otherwise, except as required under applicable law or regulations.

 

TSX Venture Exchange Disclaimer

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organisation of Canada accepts responsibility for the adequacy or accuracy of this release.

 

Market Abuse Regulation Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

 

Altus Strategies Plc / Index (EPIC): AIM (ALS) TSX-V (ALTS) OTCQX (ALTUF) / Sector: Mining

**END**

Copyright (c) 2021 TheNewswire - All rights reserved.

Today’s News

TDG Gold Corp. Signs Definitive Agreement To Acquire Advanced Stage “Nueva Esperanza” Silver-gold Project in the Maricunga Belt, Chile

WHITE ROCK, BC / ACCESSWIRE / October 13, 2021 / TDG Gold Corp (TSXV:TDG) (the "Company" or "TDG") is pleased to announce that it has entered into a binding,…

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WHITE ROCK, BC / ACCESSWIRE / October 13, 2021 / TDG Gold Corp (TSXV:TDG) (the "Company" or "TDG") is pleased to announce that it has entered into a binding, definitive agreement ("Agreement") between the Company and ASX-listed Kingsgate Consolidated Limited ("Kingsgate") for the acquisition of the advanced stage "Nueva Esperanza" silver-gold project, located in the Maricunga Belt of the Atacama Region of Northern Chile (the "Acquisition"). The Agreement supersedes the non-binding letter of intent announced June 29, 2021. (All dollar amounts are in Canadian Dollars unless specified otherwise.)

Nueva Esperanza
The Nueva Esperanza project is located in the northern half of the Maricunga Belt, 140 kilometres ("km") northeast of the city of Copiapo, which is a regional mining centre. It is situated at 4,000-4,200 metres ("m") elevation and encompasses three mining areas, Arqueros, Chimberos and Teterita, with permits for development and comes with associated water rights. On April 13, 2016, Kingsgate published a JORC prefeasibility study[1], including estimation of a mineral resource and mineral reserve titled "Nueva Esperanza Pre-feasibility Study" (see Kingsgate's announcement of the prefeasibility study on April 13, 2016).

In July 2020, the Nueva Esperanza project was granted Environmental Impact Assessment approval allowing the pre-development, construction and operation of the project (see Kingsgate's news release dated July 14, 2020).

TDG has completed extensive legal and technical due diligence reviews on the Nueva Esperanza project and concluded that the project offers an opportunity for significant value creation for TDG shareholders and other stakeholders, with the objective of transforming TDG into a silver-focused advanced exploration and development company.

As part of its due diligence, TDG commissioned Sue Bird, P.Eng. of MMTS (Moose Mountain Technical Services) to undertake an independent mineral resource estimate for the Nueva Esperanza project in accordance with NI 43-101. On July 08, 2021, TDG announced a current mineral resource estimate for the Nueva Esperanza supported by an independent NI 43-101 technical report.

Binding Agreement
Under the terms of the Agreement, the Acquisition is subject to certain closing conditions including, but not limited to, the concurrent equity financing being co-led by BMO Capital Markets and RBC Capital Markets (see TDG's news release of July 27, 2021), and the approval of the TSX Venture Exchange. Upon closing, the Acquisition would be transformative for TDG, creating a leading pure precious metals focused company with the ambition to rapidly advance both the Nueva Esperanza project in Chile and TDG's Shasta project in BC's Toodoggone Production Corridor to production decisions.

As a condition to the closing of the acquisition, TDG has agreed to raise a minimum of $35,000,000 in an equity financing (the "Concurrent Financing"). Further announcements will follow in due course regarding the financing arrangements.

Key Transaction Terms
Under the terms of the Agreement, in exchange for 100% ownership of Kingsgate's Chilean subsidiary that holds the Nueva Esperanza project, TDG will pay to Kingsgate the following consideration:

  • $25,000,000 cash on closing, subject to certain working capital and other adjustments.
  • 14.0% of TDG's outstanding common shares calculated on a post-closing basis (inclusive of any shares issued in a concurrent financing).
  • Up to $25,000,000 in future milestone payments, again subject to certain adjustments, of which up to $10,000,000 may be settled in TDG common shares at TDG's discretion, with the applicable milestones as follows:
    • a cash payment of $6,250,000 on or before the date that is three months following the date that TDG completes a feasibility study in respect of the Nueva Esperanza project;
    • at TDG's election, either a cash payment of $5,000,000 or the issuance of 10,000,000 common shares on or before the date that a construction decision is made in respect of the Nueva Esperanza project;
    • at TDG's election, either a cash payment of $5,000,000 or the issuance of 10,000,000 common shares on or before the first anniversary of the commencement of commercial production at the Nueva Esperanza project, as defined in the Agreement ("Commercial Production"); and
    • A cash payment of $8,750,000 on or before the second anniversary of Commercial Production.

In connection with the Agreement, the Company will enter into an investor rights agreement with Kingsgate (the "Investor Rights Agreement") to grant Kingsgate certain rights to be set out in the Investor Rights Agreement, including that:

  • So long as Kingsgate owns 10% or more of the issued and outstanding shares of TDG it will be entitled to designate one nominee to the Board of Directors of TDG.
  • For 24 months following closing of the Agreement, Kingsgate will have the right to participate in the issuance of securities offerings to maintain its percentage interest and/or to increase its percentage ownership interest to up to 19.9% of then outstanding shares of TDG.

The Acquisition is subject to TSX Venture Exchange (the "Exchange") review and approval as well as other conditions precedent, including the completion of the Concurrent Financing. Subject to receiving confirmed orders to the Concurrent Financing in the amount of at least $35,000,000 by October 31, 2021, and the payment by TDG of a non-refundable deposit to Kingsgate in the amount of $500,000, the outside date for the completion of the Acquisition will be November 30, 2021, which date may be extended to December 15, 2021, if factors outside the reasonable control of TDG have prevented closing before November 30, 2021.

About TDG Gold Corp.
TDG is a major holder of mineral claims and mining leases in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or earn-in agreement. TDG's flagship projects are the former producing, high-grade gold-silver Shasta, Baker and Mets mines, which are all road accessible, produced intermittently between 1981-2012, and have over 65,000 metres of historical drilling. In 2021, TDG proposes to advance the projects through compilation of historical data, new geological mapping, geochemical and geophysical surveys, and drill testing of the known mineralization occurrences and their extensions. The Company has entered into a binding agreement to acquire the Nueva Esperanza silver-gold advanced exploration and development project located in the Maricunga Belt of northern Chile, subject to closing conditions being satisfied. TDG currently has 70,867,903 common shares issued and outstanding.

ON BEHALF OF THE BOARD

Fletcher Morgan
Chief Executive Officer

For further information contact:
TDG Gold Corp.,
Telephone:+1.604.536.2711
Email: [email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words "ambition", "estimate", "concluded", "offers", "objective", "may", "will", "should", "potential" and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the completion of the proposed acquisition of the Nueva Esperanza project, the completion of concurrent equity financing, and the potential development of the Nueva Esperanza project and the Company's existing mineral properties, including the completion of feasibility studies or the making of production decisions in respect thereof. Although the Company believes that the expectations and assumptions on which the forward looking statements are based are reasonable, undue reliance should not be placed on the forward looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the completion of other conditions precedent to the Acquisition, including the receipt of regulatory approvals, the state of equity financing markets, and results of future exploration activities by the Company.

Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward looking statements, whether as a result of new information, future events or results or otherwise.

[1] JORC (Joint Ore Reserves Committee) standards are not in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and the prior mineral resource, mineral reserve and results of the study should therefore be treated as historical information and should not relied upon.

SOURCE: TDG Gold Corp.



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Today’s News

Xander Resources Announces Closing of Non-Brokered Private Placement and Grants Options

TheNewswire – October 13, 2021 – Xander Resources Inc. (TSXV:XND) (FSE:1XI) (OTC:XNDRF) (“Xander” or the “Company”) announces that, subject to…

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TheNewswire - October 13, 2021 - Xander Resources Inc. (TSXV:XND) (FSE:1XI) (OTC:XNDRF) (“Xander” or the “Company”) announces that, subject to the approval of the TSX Venture Exchange (the “Exchange”) it has closed its non-brokered private placement (the “Private Placement”) issuing an aggregate of 4,200,000 units (each a “Unit”) of the Company at a price of $0.10 per Unit raising gross proceeds of up to $420,000 (the “Proceeds”).

Each Unit consists of one common share (a “Share”) and one transferable share purchase warrant exercisable at $0.20 per Share for a period of two (2) years from the date of closing of the Private Placement.

Deepak Varshney, the President, CEO and a director of the Company, subscribed for 500,000 Units, Dwayne Yaretz, Corporate Secretary and a director of the Company subscribed for 50,000 Units and James Hirst, a director of the Company, subscribed for 100,000 Units.  As a result, the Private Placement is a related party transaction (as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”)).  The Company relied upon section 5.5(a) and 5.7(a) as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Private Placement exceeds 25 percent of the Company’s market capitalization (calculated in accordance with MI 61-101).

The Proceeds from the Private Placement will be used for exploration on the Company’s portfolio of properties and for general working capital.

All securities issued are subject to a four month hold period in Canada and the Exchange Hold Period.  No finder’s fees were paid in connection with the Private Placement.

The Company also announces that it has granted 470,000 incentive stock options to certain directors, officers and consultants, exercisable at $0.13 for a period of 5 years, in accordance with its stock option plan.

About Xander Resources Inc.

Xander Resources Inc. is a Canadian mineral acquisition and exploration company based in Vancouver, BC, Canada. Xander is exploring for commercially exploitable mineral deposits and is currently focused on deposits located in Val-d’Or, Quebec. Our flagship project is the Senneville Project in the Val-d’Or Mining Camp. The project comprises over 100 sq. km and is can be divided into two sections: Senneville East, which is gold-focused and contiguous and adjacent to significant gold projects including Probe Metals’ new discovery to the South and Monarch Mining’s project to the North, and Senneville West, which is lithium-focused and in close proximity to North American Lithium’s deposit, which has proven and probable reserves of 17.06 Mt grading 0.94% Li2O, and near an area undergoing intense exploration by companies including Sayona Mining, Great Thunder Gold and First Energy that the Quebec government is developing into a world-class lithium hub.

ON BEHALF OF THE BOARD OF DIRECTORS

Deepak Varshney, P.Geo., President and CEO
Telephone: (236) 607-5490
For more information please visit our website:
www.xanderresources.ca  
Email:
[email protected]  

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

Copyright (c) 2021 TheNewswire - All rights reserved.

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Today’s News

Azincourt Energy Receives DTC Eligibility

VANCOUVER, British Columbia, Oct. 13, 2021 (GLOBE NEWSWIRE) — AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTCQB: AZURF,…

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VANCOUVER, British Columbia, Oct. 13, 2021 (GLOBE NEWSWIRE) -- AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTCQB: AZURF, FSE: A0U2), is pleased to announce its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company (DTC). DTC is a subsidiary of the Depository Trust & Clearing Corp. (DTCC) that manages the electronic clearing and settlement of publicly traded companies in the United States.

Azincourt’s common shares are now fully DTC eligible and will continue to trade under the ticker symbol “AZURF” on the OTC Markets. Through an electronic method of clearing securities, DTC eligibility simplifies the process of trading and transferring the Company’s common shares between brokerages in the United States.

“With our OTCQB upgrade and now DTC eligibility, Azincourt shares are fully tradeable in the US,” says Alex Klenman, President and CEO. “As the uranium sector continues to pick up momentum and become more visible to investors, gaining full accessibility was an important goal of ours. We’re eager to broaden our audience in the US and now we’re in a strong position to do so,” continued Mr. Klenman.

About Azincourt Energy Corp.

Azincourt Energy 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 joint venture East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru.

ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.

“Alex Klenman”
Alex Klenman, President & CEO

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release includes “forward-looking statements”, including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Azincourt.  Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.  Such forward-looking information represents management’s best judgment based on information currently available.  No forward-looking statement can be guaranteed, and actual future results may vary materially.

For further information please contact:

Alex Klenman, President & CEO
Tel: 604-638-8063
[email protected]

Azincourt Energy Corp.
1430 – 800 West Pender Street
Vancouver, BC V6C 2V6
www.azincourtenergy.com


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