Azincourt Uranium Inc.: Return of Capital by Way of Distribution of Securities

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 11, 2014) - Azincourt Uranium Inc. (the "Company") (TSX VENTURE:AAZ) -

Further to the Company's news release of September 4, 2014 pertaining to the closing of the sale by the Company of its Peruvian uranium assets to Macusani Yellowcake Inc. ("Macusani") (TSX VENTURE:YEL), the Company announces the record and distribution dates for the Company's proposed return of capital by way of a distribution of the 68,350,000 common shares of Macusani held by the Company (the "Macusani Shares").

A consulting fee is payable to Haywood Securities Ltd. by the Company in connection with the transaction, which Haywood has agreed to receive in shares of Macusani, amounting to 3,335,000 Macusani Shares. The balance of the 65,015,000 Macusani shares is to be distributed to the Company's shareholders pursuant to the TSX Venture Exchange's due bill trading policy. Pursuant to that policy, the Company announces that:

1. the Record Date to determine shareholders of the Company entitled to receive Macusani Shares is September 17, 2014;
2. the due bill trading date will be September 15, 2014 (two trading days prior to the Record Date);
3. the payment or Distribution Date will be Friday, October 3, 2014;
4. the ex-distribution date will be October 6, 2014 (the next trading day following the Distribution Date); and
   
5. the due bill redemption date will be October 8, 2014 (the second trading day following the ex-distribution date).

For clarification, "due bills" will represent the Macusani Shares that the Company's shareholders will be entitled to receive. The due bills will be deemed to attach to the Company's common shares two trading days prior to the Record Date, and will continue to attach to the Company's shares until the end of the Distribution Date. Accordingly, the Company's shares will trade on a "due bill" basis from September 15, 2014 until close of trading on October 3, 2014 (the "Due Bill Period"). This means that persons who sell their Company shares during the Due Bill Period shall also sell their entitlement to the distribution to the purchasers of such shares. The Company's shares will commence trading on an ex-distribution basis (i.e. without an attached "due bill" entitlement to the distribution) from the opening of trading on October 6, 2014 (i.e. the next trading day after the Distribution Date). The due bills will be redeemed on October 8, 2014 once all trades with attached due bills entered during the Due Bill Period have settled.

The Company is expected to have 49,473,088 common shares outstanding on the Record Date, such that for each common share of the Company held, a shareholder can expect to receive approximately 1.31415 Macusani Shares. No fractional Macusani Shares will be issued, and will instead be rounded to the nearest whole number.

Notwithstanding the return of capital, the Macusani Shares will remain subject to a four month hold period expiring January 5, 2014.

ON BEHALF OF THE BOARD OF DIRECTORS

Terrence K. O'Connor, CEO

Neither 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.