Mr. Pascal Hamelin reports

ABCOURT CLOSES US$10,000,000 INCREASE TO DEBENTURE FINANCING WITH GLENCORE

Abcourt Mines Inc. has closed its previously announced transaction with Glencore AG to increase the aggregate principal amount of the senior secured debenture announced on Jan. 30, 2026, from $30-million (U.S.) to $40-million (U.S.).

Under the original senior secured debenture, a first tranche in the amount of $18,125,000 (U.S.) was made available to Abcourt on Jan. 30, 2026.

Under the upsized debenture, the second tranche was increased from $11,875,000 (U.S.) to $21,875,000 (U.S.) and will be advanced in two instalments. The first instalment, in the amount of $19,875,000 (U.S.), was advanced on the closing date. The remaining instalment, in the amount of $2-million (U.S.), will be advanced in October, 2026.

No other material changes are proposed to the original senior secured debenture. Please see Abcourt's news releases dated Jan. 30, 2026, and Aug. 6, 2026, for further details.

The corporation used a part of the proceeds from the first instalment under the upsized debenture to repay a $12-million (U.S.) secured credit facility with Nebari Natural Resources Credit Fund II LP. The corporation intends to use the remainder of the proceeds from the upsized debenture to: (i) finance exploration work and capital expenditures at its Sleeping Giant and Flordin projects; and (ii) provide additional working capital.

The upsized debenture will mature on Jan. 31, 2031, and bears interest until repayment in full at a rate equal to one-month SOFR (secured overnight financing rate) plus 2.5 per cent per annum.

In accordance with the terms of the upsized debenture, the corporation entered into a security arrangement with Glencore to register a first-ranking security, subject to certain permitted liens, on the universality of the corporation's movable and immovable property, corporeal and incorporeal, present and future, of any nature whatsoever and wheresoever situated, including real property interests, mining rights, inventory and equipment.

The corporation issued 46,943,333 non-transferable warrants to Glencore on the closing date. Each warrant is exercisable to acquire one common share of the corporation at an exercise price of 12 cents per warrant share until April 30, 2030.

The warrants remain subject to the final approval of the TSX Venture Exchange. The warrants and any warrant shares issuable upon exercise thereof are subject to a statutory hold period in Canada expiring on Jan. 3, 2027.

About Abcourt Mines Inc.

Abcourt Mines is a Canadian gold development company with properties strategically located in northwestern Quebec, Canada. Abcourt owns the Sleeping Giant mine and mill, as well as the Flordin property, where it focuses its development activities.

We seek Safe Harbor.