Azincourt Uranium Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 14, 2016) -

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Azincourt Uranium Inc. (the "Company") (TSX VENTURE:AAZ) announces its intention to carry out a non-brokered private placement of up to 5,000,000 Units at a price of $0.05 per Unit for gross proceeds to the Company of up to $250,000 (the "Offering").

Each Unit will consist of one common share and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share for a period of two (2) years at a price of C$0.05 per common share.

The proceeds of the Offering will be used for general working capital purposes.

All securities issued under the Offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws.

Closing of this Offering is subject to the receipt of all necessary regulatory approvals including that of the TSX Venture Exchange.

ON BEHALF OF THE BOARD OF AZINCOURT URANIUM INC.

J. Ian Stalker, Chairman

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