Mr. Renaud Hinse reports

MINE DEVELOPMENT AT ELDER GOLD MINE IS PROGRESSING WELL

Mine development at Abcourt Mines Inc.'s Elder gold mine is progressing well following the reception of a certificate of authorization from the Ministere du Developpement durable, de l'Environnement et des Parcs last April 17, 2013.

The company now has three stopes in production, two stopes in preparation and one old access drift being rehabilitated. Ore extraction in May will total 4,000 to 5,000 tonnes. Production will be increased gradually with the objective of reaching commercial production at the end of 2013 (12,500 tonnes per month).

A surface diamond drilling program of 5,000 metres has recently been started. The company is planning to drill 2,200 metres on the Elder property to upgrade inferred resources into indicated resources. In addition, a total of 2,800 metres will be drilled on the Aldermac, Abcourt-Barvue, Jonpol and Vezza properties.

A National Instrument 43-101 resources estimate, completed by Jean-Pierre Berube, PEng, was filed on SEDAR in May, 2012. It indicates 1,361,000 tonnes with a grade of 6.60 grams of gold per tonne in the measured and indicated categories for a total of 289,000 ounces of gold, and 638,000 tonnes with a grade of 5.70 grams of gold per tonne in the inferred category for a total of 117,000 ounces of gold. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

A positive preliminary economic assessment report (PEA) on the Elder mine, completed by Roche Ltd. Consulting Group in November, 2012, indicates a net present value before taxes (8 per cent) of $81.8-million.

We seek Safe Harbor.