Mr. Jon Deluce reports

ABITIBI METALS ISSUES YEAR-END SHAREHOLDER LETTER AS COPPER HITS RECORD HIGHS

Abitibi Metals Corp. has provided a year-end update and shareholder letter from chief executive officer Jon Deluce, highlighting the company's strategic positioning amid historically strong copper and gold markets, its increased ownership and accelerated development pathway at the high-grade B26 copper-gold project in Quebec, and its broader exploration and growth plans entering 2026.

Dear shareholders, friends and colleagues,

As we close out 2025, I want to thank you, our shareholders, partners and colleagues, for your continued support during a year of significant progress at Abitibi Metals Corp.

This has been a transformational year for the company. We have evolved from an emerging explorer into a technically driven, well-capitalized copper-gold growth company with strong ownership in a high-grade asset, B26, located in one of the world's most prolific mining jurisdictions.

Strong execution across the business

Over the past 12 months, we have materially strengthened every pillar of our business:

• Delivered one of the highest-grade copper-gold intercepts in the Abitibi in recent years: 17.91 per cent CuEq (copper equivalent) over 6.3 metres, within 19.5 metres at 6.93 per cent CuEq;
• Secured a 50-per-cent interest in the B26 copper-gold project, with a clear path to 80-per-cent ownership;
• Raised $16.1-million through upsized, warrant-free bought-deal financings;
• Completed 21,828 metres of drilling in our expanded phase 3 program;
• Strengthened our management, geological and governance teams.

These achievements place Abitibi in a strong position heading into 2026, with key catalysts ahead and a supportive metals environment continuing to evolve in our favour.

Market conditions reinforce our strategy

The broader market backdrop is aligning well with Abitibi's copper-gold focus. Copper, gold and silver prices are at or near multiyear highs, driven by:

• Long-term structural supply deficits in copper;
• Accelerating demand from electrification, infrastructure and renewables;
• Renewed interest from major mining companies in acquisitions and exploration;
• A scarcity of advanced-stage projects, particularly in Quebec.

These trends validate our strategy of securing high-grade, scalable assets in politically stable jurisdictions like the Abitibi greenstone belt, one of the few regions globally offering grade, infrastructure and development readiness.

B26: building ownership, control and value

A defining milestone this year was our acquisition of a 50-per-cent interest in B26, along with a clear path to 80-per-cent ownership. A scoping study is under way to support early option exercise, targeted for Q1 2026 -- more than four years ahead of schedule.

We also achieved 100-per-cent ownership of the Beschefer gold project, further strengthening our portfolio and consolidated key land positions to maximize operational synergies in the district.

Abitibi's approach remains focused on maintaining control, driving value through technical execution and building a scalable platform for long-term growth.

Drilling success and discovery growth

Two thousand twenty-five was a standout year for exploration, with B26 returning some of the best intercepts in the company's history.

• Highlight intercept: 17.91 per cent CuEq (13.48 per cent Cu, 5.15 grams per tonne Au (gold)) over 6.3 metres, interpreted as high-grade, source-proximal mineralization;
• Stepout drilling confirmed strong lateral continuity, including 3.93 per cent CuEq over 11.0 metres;
• The phase 3 program was expanded to 21,828 metres on the strength of these results;
• Multiple new regional targets were identified, with the company's first regional drill program set to begin in Q1 2026.

Collectively, these results continue to support the view that B26 is part of a large, high-grade VMS system with strong discovery potential beyond the current resource envelope.

Strengthening the balance sheet

In 2025, we completed a series of successful bought deal financings, including a final upsized raise of $16.1-million, all without issuing warrants. These financings brought in high-quality institutional and strategic investors.

With this capital in place, we are fully funded for an aggressive 40,000-plus-metre drill program in 2026. Our financial position allows us to focus on execution and growth, while reducing dilution risk and increasing institutional visibility.

Team growth and governance

To support our transition into the next phase of growth, Abitibi made key additions to its leadership team:

• Appointed a new vice-president of exploration and EVP to lead geological and operational strategy;
• Expanded the senior management team to meet increased technical and operational demands;
• Welcomed Craig Parry to the advisory board, adding deep capital markets and global mining experience.

These additions ensure we have the capability and expertise needed to advance B26 and evaluate future opportunities with discipline.

Focused growth strategy

Our strategy remains consistent and deliberate:

• Advance high-quality copper-gold assets in top-tier jurisdictions;
• Maintain ownership, control and flexibility;
• Allocate capital with discipline and transparency;
• Expand awareness of Abitibi's valuation relative to peers;
• Build long-term value through technical excellence and responsible growth.

Every major decision this year was guided by these principles and they will continue to inform our work in 2026.

Looking ahead to 2026

With significant progress behind us, we are entering the new year with clear priorities and multiple near-term catalysts:

• Phase 4 drill program launching in January, with 40,000-plus metres planned:
  • Follow-up and stepout drilling at B26 targeting zone expansion and scale.
• First Abitibi-led regional exploration program focused on new discovery potential;
• Scoping study delivery and 80-per-cent ownership option exercise at B26;
• Updated mineral resource estimate at B26;
• Continued evaluation of district-scale targets and Beschefer gold project for additional growth.

Two thousand twenty-six will be a pivotal year as we continue to derisk and grow B26, pursue new discoveries, and translate technical success into long-term shareholder value.

Closing thoughts

This past year has validated our core thesis: In a tightening global market, high-grade copper-gold assets in secure jurisdictions are not just valuable, they are strategic.

We believe B26 is a company-making asset. It offers the scale, grade and development profile needed to anchor a long-term critical metals growth platform. As we advance the project, derisk the resource and expand the system, we are confident that its value will be increasingly recognized by the market.

On behalf of the entire Abitibi Metals team, thank you for your trust and continued support. We look forward to sharing our progress in the year ahead and delivering on the potential we have worked hard to build.

Wishing you and your families a joyful holiday season and a successful 2026.

Sincerely,

Jon Deluce

Chief executive officer

Abitibi Metals

About Abitibi Metals Corp.

Abitibi Metals is dedicated to acquiring and exploring mineral properties within Quebec, with a particular emphasis on high-quality base and precious metal assets that offer significant potential for growth and expansion.

The company's flagship B26 polymetallic project which has been optioned from SOQUEM, hosts a substantial and growing resource base.

• Indicated: 11.3 million tonnes at 2.13 per cent CuEq (1.23 per cent Cu, 1.27 per cent Zn (zinc), 0.46 g/t Au and 31.9 g/t Ag (silver));
• Inferred: 7.2 Mt at 2.21 per cent CuEq (1.56 per cent Cu, 0.17 per cent Zn, 0.87 g/t Au and 7.4 g/t Ag).

The B26 project is strategically located just five kilometres north of the formerly producing Selbaie mine. This proximity provides the project with ready access to all necessary infrastructure required for mine development

In addition to the B26 deposit, Abitibi's portfolio includes the Beschefer gold project, historical drilling has identified four notable, historical intercepts with a metal factor of over 100 grams per tonne gold highlighted by 55.63 g/t gold over 5.57 metres (BE13-038) and 13.07 g/t gold over 8.75 metres (BE12-014) amongst four modelled zones. These promising findings highlight the potential for further gold discoveries within the project area.

We seek Safe Harbor.