Mr. Pascal Hamelin reports

ABCOURT BEGINS A DRILLING CAMPAIGN TO ENHANCE THE MINING POTENTIAL AT DEPTH AT THE SLEEPING GIANT MINE

Abcourt Mines Inc. will undertake a drilling program to enhance the deep mining potential of the Sleeping Giant mine.

The 3-D model of the mineral resource estimate made by InnovExplo in December, 2022, shows the presence of several high-grade mineralized veins toward the lower levels of the mine.

The preliminary economic assessment carried out by InnovExplo in June, 2023, made it possible to optimize several production sites in the same sector. Several of these workings belong to the 785N zone located east of the mine at the bottom of level 785.

The 785N zone is made up of several parallel mineralized veins oriented north-south. The dip of these veins varies between 30 and 40 degrees toward the east. The development campaign for zone 785N will be carried out in three phases.

Phase 1: 3,500-metre drilling campaign from Level 785

The objective of this drilling campaign is to increase the level of confidence in the potential of the 106-785N-E340 stope by reducing the spacing between drilling to justify the development of access galleries to the stope.

The main mineralized intervals intercepted in the stope are:

• 64.7 grams per tonne gold over one metre in hole 66-1127A-11;
• 50.2 g/t Au over one metre in hole 66-1141-11;
• 52.9 g/t Au over 0.5 metre in hole 66-1022-10.

According to the preliminary economic assessment carried out by InnovExplo in June, 2023, the tonnes and grades of the 106-785N-E340 stope are estimated at 58,052 t at 13.8 g/t Au.

According to the mineral resource estimation of December, 2022, the 106-785N-E340 stope belongs to the inferred resource category.

Phase 2: reassessment of the potential of the upper part of zone 785N

By interpreting the 3-D model of the veins in the upper part of zone 785N, the company notices:

• A high local concentration of drilling holes in the central part;
• The presence of several interesting, mineralized intervals greater than 10 g/t gold;
• Several of these mineralized intervals are not included in the December, 2022, mineral resource estimation.

The second phase consists of optimizing the modelling of the veins in the upper part of the 785N zone and redoing it to reassess its economic interest.

Phase 2 will be done at the same time as phase 1.

Phase 3: definition drilling campaign

Definition drilling will be done from drilling bays, which will be developed at the same time as the access drifts to the production stope. Additional drift development work will be planned to cover the maximum area of the 785N zone by drilling.

Next steps:

• Rehabilitation and preparation work on the Level 785 access drift has begun to allow the installation of the drill.
• A night shift will be added from Oct. 15, 2024, to double the drilling rate.
• Abcourt is studying the possibility of adding a second drill for this campaign to continue its initial drilling program to define the production sites in accordance with the production start-up plan.

Pascal Hamelin, president and chief executive officer, commented: "With the addition of a second underground shift, we will be able to increase the pace at all levels, whether in drilling, interpretation, design, development and mining extraction. Drilling in the 785N zone will allow us to better define a zone with very high potential and test the lateral and extensions at depth of this high-grade zone."

Technical note

All technical information contained in this press release comes from the technical report of the of then mineral resources estimation made by InnovExplo in December, 2022 (MRE 2022), as well as the technical report of the preliminary economic assessment also made by InnovExplo in June, 2023 (PEA 2023).

Qualified persons

Mohamed Haithem Bennia, geo, superintendent geology of the Sleeping Giant mine, wrote, collected, verified and approved the technical information contained in this press release.

Pascal Hamelin, eng, president and chief executive officer of the corporation, has verified and approved the technical information contained in this press release.

Mr. Hamelin and Mr. Bennia are qualified persons under Regulation 43-101.

About Abcourt Mines Inc.

Abcourt is a Canadian gold exploration Corporation with properties strategically located in northwestern Quebec, Canada. Abcourt wholly owns the Sleeping Giant mill and mine, where it concentrates its activities. The Sleeping Giant mine has a mining lease, as well as environmental certificates of authorization to extract up to 750 tonnes per day from its underground mine.

We seek Safe Harbor.