Mr. Pascal Hamelin reports

ABCOURT COMPLETES AN INDUCED POLARIZATION SURVEY ON ITS FLORDIN PROPERTY BETWEEN THE CARTWRIGHT STRIPPING AND DRILLING COMPLETED IN 2023

Abcourt Mines Inc.'s induced polarization survey undertaken in early November on the Flordin property has been completed and results are now available.

Highlights:

• A first geophysical domain with high chargeability and resistivity associated with a high magnetic that is continuous over one kilometre, from the Cartwright stripping to the 2023 drilling; geophysical signature typical of the gold-bearing shear zones found in the Abitibi region;
• A second geophysical domain with high chargeability and lower resistivity associated with a magnetic trough south of the main access road;
• Historical drilling in the vicinity of the main anomalies contained in the two geophysical domains contains high gold grades (between five grams per tonne and 10 grams per tonne gold) and incomplete assays in the context of the current gold price.

At the end of October, 2024, Abcourt mandated MG Exploration to carry out line cutting. Eleven kilometres of line were cut. The grid fully covers the one-kilometre portion between the 2023 drilling and the recently stripped Cartwright zone. A high-resolution induced polarization survey targeting an investigation depth of 200 metres was conducted by Geophysique TMC. The results of this survey clearly demonstrate two different geophysical domains.

The first geophysical domain (Flordin gold trend) is continuous over one kilometre and clearly connects the recently stripped Cartwright zone to drilling completed in 2023, including hole FL-23-265, which intersected 14.79 grams per tonne gold over four metres (see press release dated Jan. 30, 2024). This geophysical domain is characterized by a zone of high magnetism corresponding to the basalt hosting the Cameron shear zone. All along the baseline that connects the two sectors of interest, there is a thin anomalous horizon in chargeability and is within the limits of a more extensive resistive level likely to mark the presence of altered and silicified rocks. This type of geophysical signature is often characteristic of the gold-bearing shear zones found in the Abitibi region. Historical drilling by NAP Quebec Mines Ltd. in this geophysical area has intersected high grades gold (five grams per tonne to 10 grams per tonne gold) and confirms the continuity of the mineralized zones contained between the Cartwright stripping and the 2023 drilling. Note that reverification work on the old drill core available is currently under way. Consultation of old drill logs suggests that mineralized intersections are not properly analyzed. This new geophysical survey will allow the company to better orient future drilling and maximize the results of these holes.

The second geophysical domain, located immediately south of the first domain, is characterized by a magnetic trough likely to mark a change in the nature of the underlying units. The bottom level of chargeability in this area is very high and that in resistivity, lower than that of the adjacent domain to the north (Flordin gold trend). Prospecting carried out last summer in this area made it possible to sample outcrops that are often anomalous in gold and strongly altered in silica-carbonate. Old holes drilled in 1982 by the Sullivan Mining Group in this area intercepted strong gold values (up to seven grams per tonne gold). Consultation of the drill logs also shows mineralized intersections with incomplete assays in the context of the current gold price. New drilling is planned in this area with high potential and which remains very little drilled so far.

Pascal Hamelin, president and chief executive officer, commented: "The results of this induced polarization survey are conclusive. These clearly demonstrate in the first area of interest, the continuity and continuation of high-grade gold mineralization over a distance of one kilometre, from the recently stripped area to the drilling completed in 2023. In addition, the confirmation of a second area of interest south of the baseline seems very promising. Drilling will be carried out shortly to test these anomalies."

Qualified persons

Robert Gagnon, Geo, vice-president, exploration, of Abcourt, and Joel Simard, PGeo, consulting geophysicist, have verified 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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