Azincourt Energy Purchases Lithman West Extension Lithium Project

Azincourt Energy(TSXV: AAZ) is pleased to announce with its joint venture partner New AgeMetals(TSX.V: NAM) the acquisition of the Lithronewest Extension Project, which covers an area of 2,725 hectares and land facilities are located 9.5 km west of the world-class Tanco mining area.

The new Lithman Western Expansion project connects the company's current LithmanWest project on the western and southern borders, and the combined LithmanWest project now totals approximately 3,741 hectares. The New Era / Acincourt controls more than 12,000 hectares (30,000 acres) of lithium exploration assets in the heart of the Winnipeg oil field in Manitoba.

The site is characterized by the Lake Bernik Formation, a geological cell/stratum, and hosts several other lithium-containing crystalline rocks in the Tanco pegmatite and the Bird River green belt. Now, LithmanWest covers the Bernic Lake group with a continuous length of more than 12 kilometers.

Here are several known pegmatite exposures in the Lithman West Expansion Project area. The pegmatites in the southern part of the project area are associated with the Shatford Lake pegmatite group (one of the ten pegmatites in the Winnipeg pegmatite field). The Silverleaf pegmatite from the LithiumOne project is also part of the Shatford Lake pegmatite group, one of several pegmatites containing palladium-containing pegmatites in the pegmatite group.

"This is another key addition to our portfolio at Manitoba," said President and CEO Alexklenman. "This is very promising with the known lithium-containing crystalline rocks and huge exploration upside space. In the next few months, we are entering a very busy time and conducting detailed mapping, sampling and drilling. We are eager to build our story and deliver, "continued Mr. Kleinman.

The LithmanWest acquisition and tender focused on covering all the synvolcanic intrusion units(metalloids and diploids) of the main rock unit at the Tanco pegmatite in the east of the project. The LithmanWest extension covers the rest of the Bernic Lake group west of the Tanco pegmatite.

The Tanco pegmatite is believed to be located at the edge of the fold. This pleated axis plane trace runs through these two projects, so the potential of the area to accommodate a pegmatite, such as the Tenco pegmatite, is an exploration target for LithmanWest and LithmanWest expansion. There are also several axial planes of pleats in the project area.

Lithman West Extension work permit has been applied for surface exploration in Manchester Province. Once the permit has been approved, field staff will be mobilized. The exploration of the Lithman Western Extension Project will include exploration and sampling of known surface pegmatites and their surrounding areas, with the aim of identifying and identifying new drilling targets.

he recent project acquisition has made the NewAgeMetal/Azincourt joint venture the largest creditor of the Winnipeg RiverPegmatite oil field. Currently, the joint venture has seven projects for the exploration of lithium-containing pegmatites in Weijing Iwata.

Terms

In addition to the original joint venture agreement with New Age Metals, Azincourt also promised to increase exploration spending by US$ 250,000 during the cooperation period and increase the exploration budget by US$ 100,000 in 2018. As part of the terms of the deal, New Age Metals will also receive an additional 250,000 Azincourt shares. For the full terms of the existing agreement, please refer to the Azincourt press release issued on January 15, 2018.

Update of work plan

Immediate exploration work will focus mainly on the lithium 1 and lithium 2 projects, and field plans include mapping of known pegmatite outcrops. The company plans to start sampling specific areas in the coming weeks before it begins drilling in June.

The initial drilling plan will include at least 3,000 meters of diamond drilling, mainly in the Lithium1 project containing lithium Silverleaf pegmatites and the Lithium2 project containing lithium Eagle and FD5Pegmatites.

The samples collected in Eagle pegmatite in 2016 returned Li2O with a content of 0.02 <UNK> to 3.04 %, and the content of Li2O in FD5 pegmatite was as high as 2.08 %. Selected samples will be concentrated in the Eagle and FD5 pegmatites of LithiumTwo and Silverleaf pegmatites of LithiumOne. In the 2016 exploration plan, the sample value of Li2O will be as high as 4.33 %.

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