AAZ Azincourt Energy Corp

AZINCOURT URANIUM INC. ("Azincourt" or "the Company") (TSX VENTURE:AAZ) is
pleased to announce that work has now begun at its advanced-stage uranium
projects in the emerging uranium district of Macusani in south east Peru.




--  Azincourt acquired resources at Macusani defined by Minergia SAC as 35.6
    million lbs U3O8 (M&I+I) in September 2011 
--  SRK Consulting (US) Inc. (SRK) uranium experts now engaged to review
    previous public and confidential exploration and processing work on
    Macusani projects. 
--  Henkle & Associates now engaged to review the 2011 historical resource
    estimate to provide a more current estimate and identify further work.



Minergia Project Development Summary 



--  Minergia defined 18.2 million lbs U3O8 current mineral resources
    (measured and indicated) and 17.3 million lbs U3O8 (inferred) at
    September 2011. 
--  Uranium processing work and economic analysis by Minergia and others in
    the Macusani region suggests potential for low cost production. 
--  Additional high-profile targets already exist and Azincourt is committed
    to advancing the resources, targets and to developing the Macusani
    region as well as evaluating and prioritizing targets at Munani. 
--  Azincourt will reactivate Minergia's exploration and development work in
    Peru, engaging with local affected communities and commencing necessary
    permitting/agreements. 
--  Exploration drilling is planned to expand uranium resources along with
    in-fill drilling to enhance, update and upgrade resources this year.



Ted O'Connor, President and CEO of Azincourt, commented, 

"We are advancing Azincourt's Minergia projects to the next stage of the
development path. There has been a great deal of work completed by Minergia and
others that strongly suggests the Macusani uranium district is a potential
low-cost uranium producing region. We are starting the work necessary to prove
that."


SRK Technical Review Work

SRK Consulting (US) Inc. (Denver) has been retained to complete a Technical and
Economic Review of Minergia's Macusani Uranium Projects in Peru. SRK has started
to review internal technical work completed by Minergia between 2006 and 2013.
Public information from competitor companies as well as confidential internal
work focused on processing and leach test work of the Macusani mineralization
and resources will be reviewed to validate this historical work and propose
improvements and any additional work required to establish initial economic
parameters for Azincourt's Macusani deposits.


Of note, Macusani Yellowcake recently filed a Preliminary Economic Analysis
(PEA) for their Macusani uranium projects that highlights the low-cost uranium
production potential of this emerging uranium district, putting all-in operating
costs below $21/lb U3O8 (January 15, 2014 Report by GBM Minerals Engineering
Consultants Limited entitled: "Macusani Yellowcake Project, Macusani, Peru,
Preliminary Economic Assessment"). The Macusani Uranium District is a
geographically small area and Azincourt's uranium resources are located within
approx. 10 km radius of all other identified resources in the region.


Henkle & Associates Resource Estimate Work

Henkle & Associates completed Minergia's initial independent NI 43-101 resource
estimate filed in November 2010 ("Technical Report of the Macusani Uranium
Exploration Project", dated November 23, 2010), and the updated resource
estimate filed in November 2011 ("Updated Technical Report of the Macusani
Uranium Exploration Project", dated October 25, 2011). Both of these reports are
posted on SEDAR under the profile for Vena Resources Inc. (from whom Azincourt
acquired Minergia in January 2014). Henkle & Associates have been engaged to
review these resource models at variable cut-off grades to re-establish the
deposits' footprints in order to identify and highlight areas for in-fill
drilling to increase resource confidence and for resource expansion.


Peru Projects Highlights and Plans 

Macusani Project Key Details

More than $12,000,000 of exploration work has been conducted at the 4,900
hectare project. This includes 37,958 metres of exploration drilling in 232
diamond drill holes targeting anomalies generated through systematic
scintillometer surveying. Five individual target areas were drilled with the
bulk of the drilling concentrated on the Tantamaco prospect. 


The October 25, 2011 NI 43-101 compliant report calculated(i) in-place U3O8
resources of:




--  5.7 million pounds in the measured category 
--  12.5 million pounds indicated 
--  17.4 million pounds inferred



(i)See Table - Cut-off of 90.72 ppm (0.18 pounds/ton)

The Macusani uranium deposits are hosted in the uppermost Yapamayo member of the
Quenamari volcanics, a series of peraluminous alkaline ignimbritic rhyolite to
rhyodacite extrusive volcanic rocks up to 500 m thick. The Pliocene Quenemari
volcanics (ca. 6-21 Ma) filled a distinct caldera-like graben approximately 40
km's in diameter to form a present day plateau. All known uranium deposits and
most uranium occurrences are located near the northeastern edge of the caldera,
exclusively in the Yapamayo member. 


Mineralization at the Macusani project consists primarily of yellowish-green
hexavalent (U+6) minerals autunite and meta-autunite. Mineralization occurs
within brittle fractures and disseminated into the host volcanic rocks.
Disseminated mineralization also forms discrete subhorizontal lenses within
certain Yapamayo member volcanic flow units.


Munani Project Key Details

The Munani project covers an area of 9,600 hectares. Minergia has completed
regional and detailed scintillometer prospecting and Alpha Cup radon surveys
over the project area as well as detailed geological mapping, sampling and
limited trenching. Uranium mineralization has been found in both sandstone and
intermediate volcanic rock outcrops on the project. The Munani project has never
been drill tested, but targets have been established and prioritized for future
drilling.


Peru Project Plans

Azincourt's Peru projects have not seen active exploration drilling for the past
two years and have been essentially on care and maintenance due to depressed
uranium market conditions post-Fukushima. Azincourt has been working with the
existing Minergia team to develop a meaningful program and budget to restart
active exploration work in Peru. In addition to the work currently being
completed by SRK and Henkle & Associates, it is expected that supplementary work
will be planned based on their respective recommendations. The 2014 plans will
also include completing the necessary community agreements and all required
permitting work to recommence diamond drilling to evaluate existing targets on
the projects and to expand the existing uranium resources.


Qualified Person

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 compliant 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Azincourt Uranium Inc.
Mario Vetro
Corporate Development and Investor Relations
Direct: 604 662 4955
mario@azincourturanium.com
www.azincourturanium.com

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