Mr. Renaud Hinse reports

ABCOURT ANNOUNCES THE CLOSING OF A PRIVATE PLACEMENT OF UNITS AND FLOW-THROUGH SHARES FOR A TOTAL OF $533,550

Abcourt Mines Inc. has closed a non-brokered private placement for an amount of $533,550. The private placement consisted in the sale of 168 units at a price of $850 each and of 3,907,500 flow-through shares at a price of 10 cents per flow-through share. Each unit comprises one Class B share of the company at a price of 8.5 cents per common share and of one-half common share purchase warrant. Each full warrant will entitle the holder thereof to purchase one common share of the company at a price of 10 cents over a period of 12 months from the date of closing. The company will issue a total of 1.68 million common shares, 3,907,500 flow-through shares and of 840,000 warrants pursuant to the private placement.

The proceeds from the subscriptions of units sold pursuant to the private placement will be used by the company to pay the issue expenses and to increase its working capital. The proceeds from the subscriptions of flow-through shares will be used to incur exploration expenses, mainly surface drilling, on mining properties of Abcourt (Aldermac, Harricana and Dormex). The Harricana and Dormex properties are close to the Sleeping Giant mine.

Certain related parties to Abcourt have participated in the private placement:

• Renaud Hinse, a director and chief executive officer of Abcourt, has purchased one unit (representing 10,000 common shares and 5,000 warrants) and 350,000 flow-through shares. Decochib Inc., a private company controlled by Renaud Hinse, has subscribed 650,000 flow-through shares. After the private placement, assuming the exercise of the warrants included in the units purchased by Renaud Hinse, Renaud Hinse would hold, directly or indirectly, or exercise control over approximately 17.48 per cent of the company's common shares issued and outstanding.
• Normand Hinse, a director of Abcourt, has purchased 18 units (representing 180,000 common shares and 90,000 warrants) and 347,000 flow-through shares. Systeme Electronique Rayco Ltee., a private company controlled by Normand Hinse, has subscribed 60 units (representing 600,000 common shares and 300 000 warrants). After the private placement, assuming the exercise of the warrants included in the units purchased, Normand Hinse would hold, directly or indirectly, or exercise control over approximately 2.45 per cent of the company's common shares issued and outstanding.
• Marc Filion, a director of Abcourt, has purchased two units (representing 20,000 common shares and 10,000 warrants) and 83,000 flow-through shares. After the private placement, assuming the exercise of the warrants included in the units purchased by Mr. Filion, Mr. Filion would hold, directly or indirectly, or exercise control over less than 1 per cent of the company's common shares issued and outstanding.

The securities issued to the related parties in the private placement constitute a related party transaction within the meaning of Regulation 61-101 respecting protection of minority securityholders in special transactions. In its consideration and approval of the private placement, the board of directors of Abcourt has determined that such subscriptions to the related parties are exempt from the formal valuation and minority approval requirements of Regulation 61-101 on the basis that the fair market value of these subscriptions to the related parties does not exceed 25 per cent of the market capitalization of Abcourt, in accordance with sections 5.5 and 5.7 of Regulation 61-101.

All of the securities of Abcourt issued under the private placement are subject to a hold period of four months from the closing date, expiring on May 1, 2017. The private placement is subject to the final approval of the TSX Venture Exchange.

About Abcourt Mines

Abcourt Mines is a gold producer and a Canadian exploration company with strategically located properties in northwestern Quebec, Canada. The Elder property has gold resources (2012) and a positive preliminary economic assessment study; Abcourt is focusing on the exploitation of the Elder mine.

The Abcourt-Barvue property has silver-zinc resources (2012); a feasibility study was completed in 2007 by Roche/Genivar on the Abcourt-Barvue project.

In 2016, Abcourt has acquired the Sleeping Giant mine and mill, located halfway between Amos and Matagami, in Abitibi, Que., in the territory covered by the Plan Nord of the Quebec government.

This press release was prepared by Renaud Hinse, an engineer and president of Abcourt Mines. Renaud Hinse is a qualified person under the terms of Regulation 43-101.

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