Mr. Pascal Hamelin reports

ABCOURT CONFIRMS GRAVIMETRIC GOLD RECOVERY FROM HIGH-GRADE HORSE ZONE ON ITS FLORDIN PROPERTY

Abcourt Mines Inc. has released the results of a preliminary gravity concentration test conducted on mineralized material from the high-grade gold Horse zone.

Highlights:

• Release of gold by coarse grinding;
• Mineralization similarity between two samples separated by one kilometre;
• Induced polarization geophysical work is currently under way.

A 30-kilogram composite sample from channel 11 of the Horse zone (29 grams per tonne over four metres; see press release dated Oct. 24, 2024) was processed at the corporation's facilities. This made it possible to extract free gold by simple gravimetric concentration on a shaking table. The parameters set for this test made it possible to produce a coarse material of 15 kilograms, with a grain size of 212 microns (0.212 millimetre). The material was reduced by crushing and then coarsely ground to a homogeneous material of less than 212 microns. The material must remain coarse to obtain effective gravimetric concentration.

Knowing that the optimal release mesh for leaching tests is usually 75 microns, the material produced for this test is definitely coarse and simple to make. The 15-kilogram sample was then concentrated for the first pass on the shaking table in order to simulate the roughing step in the milling plant. This first stage of concentration uses the material found at the overflow of the rod mill, which is therefore still very coarse. This first concentrate contained almost exclusively pyrite with a small proportion of gangue, so the density of the material is high. The concentrate was then passed back on the shaking table for cleaning. This second stage of concentration made it possible to remove a large quantity of waste pyrite that is less dense than the gold material. Several gold grains that have simply been released by grinding are made easily visible at this stage. The gravimetric test carried out also allowed the company to confirm the fineness of the gold, which is often less than 100 microns. This observation was also made in thin sections and confirmed by the work of the firm Consultation GEOX (see press release dated Aug. 21, 2024).

A polishing of megascopic samples from the Horse zone was carried out. Polishing and binocular observation of the samples confirmed the presence of free gold at the edge and in pyrite relics. Note that the polishing of the 2023 core also confirms the similarity of the high-grade gold mineralization obtained in drilling and the Horse mineralized zone, which is located one kilometre east of the 2023 drilling.

The recent work undertaken by the corporation has confirmed the ease of gold recovery from the Cartwright zone. These results shall be validated by a recognized and independent external firm. This study will also allow the company to know the complete metallurgical balance of the mineralized material from the Cartwright zone.

Work in progress on the Flordin property:

The corporation has mandated MG Exploration to carry out line cutting. A total of 11 kilometres of line were cut. The grid was installed to fully cover the one-kilometre portion between the 2023 drilling and the recently stripped Cartwright zone. An induced polarization survey with 25 metres spacing and a depth of 200 metres is currently under way on the property. Geophysique TMC was mandated to carry out the induced polarization survey. The results of this strategic geophysical survey will be communicated as soon as they become available.

Pascal Hamelin, president and chief executive officer, commented: "With this recent work, we are already able to confirm the ease of gold recovery on our Flordin property. It is important for us to know, from the early exploration stages of our projects, whether the material is easily milled and profitable, in the context that we own and operate the only custom gold processing plant in the region."

Qualified person

Robert Gagnon, PGeo, the corporation's vice-president, exploration, has reviewed and approved the technical information contained in this press release.

About Abcourt Mines Inc.

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

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