SASKATOON, SASKATCHEWAN--(Marketwired - May 20, 2014) - AZINCOURT URANIUM INC. ("Azincourt" or "the Company") (TSX VENTURE:AAZ), is pleased to announce the filing of an updated NI 43-101 report for the Company's advanced exploration projects in Peru, owned by its wholly-owned Peruvian subsidiary Minergia SAC. The report was prepared for purposes of complying with the disclosure requirements of NI 43-101, but does not contain any new material information concerning the Company's Peruvian properties that has not been previously disclosed.
The report dated May 14, 2014 entitled: "Updated Technical Report of the Macusani and Muñani Uranium Exploration Projects, Department of Puno, Perú" was completed by William R. Henkle Jr of Henkle and Associates and has been filed under Azincourt's corporate profile on SEDAR (www.sedar.com). The technical report restates the updated resource estimate completed in 2011 on the Macusani projects and provides an evaluation of the Muñani project with proposed exploration work for both project areas to advance these prospective projects. Work planned for the advanced Macusani projects aims to enhance the quality of the resource and expand the deposit' footprints, while work proposed at Muñani will assess the prospectivity of this green-field exploration project through initial drill testing.
Azincourt acquired Minergia SAC from Vena Resources Inc. and Cameco Corporation in November 2013 (see News Release dated November 22, 2013). Exploration work on the Macusani concessions is expected to be restarted in 2014.
Azincourt and Macusani Yellowcake Inc. signed a non-binding letter of intent in April 2014 which contemplates that Macusani Yellowcake will acquire all of Azincourt's uranium properties in Peru by the purchase of held in Minergia in exchange for Macusani Yellowcake common shares and joint Azincourt and Macusani Yellowcake management and board involvement (see News Release dated April 17, 2014). Due diligence is currently on-going.
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 on behalf of the company by Ted O'Connor, P.Geo. President and CEO of Azincourt Uranium Corp., a qualified person.
About Azincourt Uranium Inc.
Azincourt Uranium Inc. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Vancouver, British Columbia. Azincourt has advanced exploration projects and uranium resources in southeastern Peru and the PLN exploration project joint venture with Fission 3.0 in northern Saskatchewan.
ON BEHALF OF THE BOARD OF AZINCOURT URANIUM INC.
Ted O'Connor, CEO and President
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.