Azincourt Uranium Acquires Advanced Peruvian Company

Azincourt Uranium Inc. (TSXV:AAZ) entered into definitive share purchase agreements dated November 20, 2013 with Cameco Corporation and Vena Resources Inc. for the acquisition of 100% of the issued shares of Minergia S.A.C., a private Peruvian company. Minergia owns 100% of the rights and interests in the advanced stage Macusani and early stage Muñani uranium exploration projects in the Puno department of south-eastern Peru.

As quoted in the press release:

Acquisition Summary

• Azincourt to purchase 100% of Minergia from Cameco and Vena for total consideration of $2 million in cash and Azincourt shares.
• Over $12 million spent by Minergia on project exploration work between 2007-2011.
• Minergia has defined 18 million lbs U3O8 current mineral resources (measured and indicated) and 17 million lbs U3O8 inferred,to September 2011.
• Exploration and processing work by Minergia and others in the Macusani region suggests potential for future low cost production.
• Additional targets exist on the projects and Azincourt is committed to advancing the resources, targets and to developing the Macusani region.
• Vena’s Chairman and CEO, Juan Vegarra to join Azincourt board as an independent director.

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