VANCOUVER, Aug 16, 2013 - Azincourt Resources Inc. (TSX VENTURE:AAZ) (the "Company" or "Azincourt") announces that, in keeping with its focus on uranium exploration at the Patterson Lake North project and in light of the moderate results from operations to date, it has assigned all of its interests in an option to acquire the Forgold gold exploration property (the "Forgold Property") to an arm's length private mineral exploration company ("Privco") in consideration of Privco assuming all of Azincourt's obligations under its option agreement, and the grant to Azincourt of a 2.0% net smelter returns royalty upon Privco earning an interest in the Forgold Property.
The Forgold Property is comprised of 25 contiguous mineral claims located in the Iskut River District in northwestern British Columbia. The Company was granted an option in June 2011 to acquire a 100% ownership interest in the Forgold Property, subject to a 2.0% NSR. The Company has carried out an initial exploration program on this property, in accordance with a work program recommended under a technical report dated November 14, 2011 (as amended) and as described in the Company's prospectus dated January 31, 2012.
ON BEHALF OF THE BOARD OF DIRECTORS.
Ted O'Connor CEO and President
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VANCOUVER, Aug 16, 2013 - Azincourt Resources Inc. (TSX VENTURE:AAZ) (the "Company" or "Azincourt") announces that, in keeping with its focus on uranium exploration at the Patterson Lake North project and in light of the moderate results from operations to date, it has assigned all of its interests in an option to acquire the Forgold gold exploration property (the "Forgold Property") to an arm's length private mineral exploration company ("Privco") in consideration of Privco assuming all of Azincourt's obligations under its option agreement, and the grant to Azincourt of a 2.0% net smelter returns royalty upon Privco earning an interest in the Forgold Property.
