Azincourt Uranium Closes C$1,650,000 Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES


Azincourt Uranium Inc. (the "Company") (TSX VENTURE:AAZ), announces that it has
closed its private placement (previously announced on March 13, 2014) and raised
an aggregate of $1,664,990.


The Company issued an aggregate of 4,302,970 flow-through common shares at $0.30
per share and 1,385,555 non-flow-through units ("Units") at $0.27 per Unit. Each
Unit consists of one common share and one-half of one share purchase warrant.
Each whole warrant entitles the holder to purchase one additional common share
on a non-flow-through basis at an exercise price of C$0.40 per share until
October 1, 2015.


The private placement was brokered by a syndicate of agents led by Secutor
Capital Management Corporation (collectively the "Agents"). The Agents received:
(i) an 8% cash commission; and (ii) 455,082 compensation options entitling the
Agents to purchase an equivalent number of common shares of the Company on a
non-flow-through basis at a price of $0.30 per share until October 1, 2015.


The President and CEO of the Company subscribed for a total of 44,444 Units
under the private placement (the "Insider Participation"). The Insider
Participation is exempt from the valuation and minority shareholder approval
requirements of Multilateral Instrument 61-101 - Protection of Minority Security
Holders in Special Transactions ("MI 61-101") based on that neither the fair
market value of such Insider Participation nor the consideration paid by such
person exceeded 25% of the Company's market capitalization. The Company has not
filed a material change report 21 days prior to the closing of the private
placement as participation of insiders had not been established at that time.


All of the securities issued under the private placement to subscribers and the
Agents are subject to statutory and TSX Venture Exchange imposed resale
restrictions expiring on August 2, 2014. 


The proceeds of the private placement will be used to accelerate the advancement
of the Company's exploration and drilling activities on its projects in Canada
and Peru and for general working capital purposes.


Additional information about Azincourt and its projects can be viewed on
Azincourt's website at www.azincourturanium.com.


ON BEHALF OF THE BOARD 

Terrence K. O'Connor, President, CEO

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 news release.


This press release is not an offer or a solicitation of an offer of securities
for sale in the United States. The common shares of Azincourt Uranium Inc. have
not been and will not be registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registration
or an applicable exemption from registration.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Azincourt Uranium Inc.
Mario Vetro
Corporate Development and Investor Relations
604 662-4955
[e-mail]
www.azincourturanium.com