Azincourt Uranium is a uranium explorer focused on Canada’s Athabasca Basin – the world’s leading source of high-grade uranium. The company’s management team has a strong track record of success and is led by former Cameco Exploration Director, Ted O’Connor. Azincourt recently partnered with the Athabasca Basin’s leading exploration company, Fission Uranium, to explore the highly prospective Patterson Lake (PLN) property.
PLN lies in an under-explored area of the Athabasca Basin. It is immediately adjacent to Patterson Lake South – host to Fission’s recent major high-grade discovery. In addition, it is just 30 km south of the UEX/AREVA Anne and Collette uranium deposits near Shea Creek.
2. 2
This presentation does not constitute or form part of any offer for sale or solicitation
of any offer to buy or subscribe for any securities in Azincourt Uranium Inc. nor shall
it or any part of it form the basis of or be relied on in connection with or act as any
inducement to enter into any contract or commitment whatsoever. No reliance may
be placed for any purpose whatsoever on the information or opinions contained in
this presentation or on any other document or oral statement or on the completeness
accuracy or fairness of any such information and/or opinions. No undertaking,
representation, warranty or other assurance express or implied is made or given by
or on behalf of Azincourt Uranium Inc. or any of their directors, employees or
advisors, as to the accuracy or completeness of the information or opinions
contained in this presentation and, save in the case of fraud, no responsibility or
liability is accepted by any of them for any such information or opinions or for any
errors, omissions, misstatements, negligence or otherwise contained or referred to in
this presentation. The contents of this presentation have not been approved by an
authorized person.
DISCLAIMER
3. 3 URANIUM INVESTMENT HIGHLIGHTS
DEVELOPMENT PLAY: Macusani Project, South East Peru
NI 43-101 Resource with High Growth Potential
Shallow Depth, Heap Leachable (low production cost)
Low exploration and Acquisition Cost
Favorable Jurisdiction
Major Buyouts Suggest Strong Leverage
Regional Consolidation Plans
EXPLORATION PLAY: PLN Project, Athabasca Basin, Saskatchewan
Top global region for high-grade uranium
Year 2 Exploration program underway –Targeting Geophysics and Drilling
Shallow depth, high-grade PLS uranium discovery adjacent to the south
Industry-leading Operator (Fission 3.0 Corp.):
2 major discoveries in 3 years
Chief Geo, Ross McElroy instrumental in 4 of last 9 major discoveries
Announced as winner of PDAC 2014 explorer of the year award.
4. 4 PEOPLE
Ian Stalker - Chairman and Director
• Over 30 years experience in mining development and operations in Europe, Africa and Australia
• Former CEO of UraMin Inc. – acquired by AREVA in August 2007 for US$2.5 billion
• Former Vice President of Gold Fields Ltd., the fourth largest gold producer in the world at that time.
Ted O’Connor – President and CEO
• Over 22 years experience in the Exploration Industry including 20 years with Cameco Corporation
• Former Director, Corporate Development & Manager of Exploration New Business and Global Exploration
focused on acquisitions, new projects and strategic alliances
Dev Randhawa – Director
• CEO and Chairman of Fission Uranium Corp. and Fission 3.0 Corp
• Founded and grew Strathmore Minerals
Juan Vegarra – Director
• CEO & Chairman of Vena Resources an advanced, multi-commodity junior explorer focused in Peru
• Former Microsoft executive
5. 5 Global Demand
For Electricity to grow
76% by 2030
Nuclear Reactors Worldwide:
434 Operating Worldwide
72 Under Construction
173 Planned
309 Additional Proposals
Today’s Uranium Supply
Crunch:
85% of demand met by mining
15% from secondary sources
*Source: World Nuclear Association, April 1, 2014
Around The World: The Rise Of Nuclear Energy by 2030
ELECTRICITY: GROWING DEMAND
6. 6 THEATHABASCABASIN
A World-Class Uranium Mining District
World-Class District:
The largest, highest
grade uranium deposits in
the world. Grades 10x
world average.
Production History:
Uranium mining and
production for 40+ years
Stable Political Climate:
Pro-mining attitudes and
policies on both federal and
provincial government levels
Infrastructure:
Easy access to power,
water, roads and air
7. 7 OUR PARTNERAT PATTERSON LAKE NORTH (PLN)
- High-grade, shallow depth discovery
at Patterson Lake South (PLS)
- The Fission technical team has
made two major discoveries in the
Athabasca Basin and will operate the
exploration programs
- Ross McElroy, the company’s Chief
Geologist, President and COO, has
been instrumental in four of the last
nine major discoveries in the Basin
and is the winner of PDAC 2014
Explorer of the Year award
8. 8 PATTERSON LAKE NORTH (PLN)
- Western Athabasca Basin
- 100% Fission Uranium, staked in
2004 (27,000 ha)
- 5.7 km north of Patterson Lake
South (PLS)
- Fission spent ~$4.7M on prior
exploration at PLN
- Azincourt has a staged Option to
earn-in up to 50% over 4 years
9. 9 NORTH PLN YEAR 1 RESULTS & YEAR 2 PLANS
VTEM Max SURVEY RESULTS
- Previously unknown 8.5 km long N-
S conductor system
- Confirm NNW trending basement
conductor system
IFG MT Ground Follow-up
- 3 discreet conductors dipping west
YEAR 2 PLANS
- DC Resistivity Survey Underway
- Generate drill targets for testing this
Fall and Winter 2015
9
10. 10 PLN CENTRAL & SOUTH YEAR 1 RESULTS
NEW GROUND SURVEYS
Central Project Area
- SMLTEM Ground Survey
- 20 km Grid
- Conductor & structure
- Metasediments
- NW trend
Southern Project Area
- SMLTEM Ground Survey
- 10.5 km over 2 lines
- Sub-parallel trend to PLS
- Radon in lake water & sediment
sampling of southern lakes
DIAMOND DRILL PROGRAM
- 2000 m in 7 holes
- Conductor Targets confirmed
11. 11
A1 CONDUCTOR
- 4 holes completed to depth
- Similar lithology/structure &
alteration to PLS
- Remains highly prospective
- Requires additional drilling
A1B CONDUCTOR
- 2 holes lost in overburden
- Conductor not tested
- Remains highly prospective
A3 CONDUCTOR
- 1 hole to basement
- Intense basement
clay/chlorite alteration
- Remains highly prospective
PLN CENTRALAND SOUTH YEAR 1 DRILLING
12. 12
DC RESISTIVITY
- North Grid and Broach Grid on known
conductor systems to generate drill targets
DRILL EXISTING & NEW TARGETS
- Test targets from previous work
- A1 system to NW based on geochem
- Hodge Lake B Conductor
- Summer & Winter
- New target testing
- North Grid in Summer & Winter
- Broach Lake Grid in Winter
PLN CENTRALAND SOUTH YEAR 2 PLANS
13. 13 PROGRAM TIMING
Summer/Fall 2014:
DC Resistivity Surveys Broach and North Grids, on-going
Drilling of land-based targets this summer/fall
Winter 2014/15:
Drilling of prioritized land and lake-based targets
Possible EM surveys to refine and enhance targets, but minimal
$ 3 Million Year 2 commitment at PLN – primarily for drilling
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2
3
4
Proposed Plan for Year 2:
15. 15 AZINCOURT/MINERGIAMACUSANI PROJECTS
- >$12M spent on exploration (2006-2011)
with no active exploration for last 2 years
- 5 separate deposits (NI 43-101 compliant
resources updated May, 2014)
- ~32 M lbs contained U3O8 at ~300 ppm
(180 ppm cutoff)
- Exploration upside for existing resource
expansion and on additional targets
- Fracture-controlled and disseminated U+6
mineralization in rhyolite ignimbrite host
- Excellent leach characteristics using dilute
acid (YEL/Solex and others)
16. 16 AZINCOURT MINERGIAPLANS
Macusani Project
- Restart active exploration after 2 year hiatus
- Community Agreements
- Environmental Permitting
- Resource Expansion Drilling
- Refine Untested Targets and Drilling
- Commence Macusani Processing Work
- Compile & Critique historical work
- Consider Leach testing improvements
- Determine Potential Project Economics
Muñani Project
- Volcanic & sandstone-hosted U occurrences
- Restart active exploration
- Community Agreements
- Target Prioritization and Refinement
17. 17 PERUVIAN CONSOLIDATION PLANS
Letter of Intent (LOI) with
Macusani Yellowcake (YEL)
- YEL to acquire Minergia
- AAZ receives 68.35 M
shares in YEL
- Joint Board & Management
- Emerging District with over
95 M lbs contained U3O8
- Due Diligence underway
18. 18 CONSOLIDATION of EMERGING URANIUM DISTRICT
• Combined company will control one of the
largest undeveloped uranium projects in the
world
• Located on the Macusani Plateau, Puno,
Southern Peru: combined concessions will
cover over 949 km2
• District offers exceptional exploration
prospects, in addition to co-development
potential
• Excellent Infrastructure:
– Readily available supply of labour, water &
power
– Transport (major highway runs past
properties)
– Plentiful supply of sulphuric acid
• Good government and community relations
20. 20
THANKS
AZINCOURT URANIUM INC.
Azincourt Uranium Inc. is a Canadian public exploration stage
company based in Vancouver, B.C. The Company’s principal asset is an
option to earn up to a 50% interest in Fission Uranium Corp.’s
Patterson Lake North project in the Athabasca Basin in Saskatchewan.
For more information please visit our web site:
www.azincourturanium.com
Editor's Notes
Term Interest EarnedConsideration Work Obligation
12 months 10% $500,000 (paid)*$1,500,000
24 months 10% $750,000 $3,000,000
36 months 15% $1,000,000 $3,000,000
48 months 15% $2,500,000 $4,500,000
Total 50% $4,750,000 $12,000,000
