Mr. Renaud Hinse reports

ABCOURT ANNOUNCES GOOD RESULTS FOR THE SECOND QUARTER ENDED ON DECEMBER 31, 2016

Abcourt Mines Inc. had good results for the second quarter ended on Dec. 31, 2016. Management is pleased to announce that the Sleeping Giant mill treated all the gold mineralization extracted from the Elder mine during the second quarter and the gold recovery was 95.7 per cent. Additional improvement work will be done in the mill during the next few months, but that should not affect substantially the operation. The company generated, in the second quarter, revenues from the sale of gold totalling $6-million and almost $10-million for the six-month period ending on Dec. 31, 2016. The average price received for gold was almost $1,700 per ounce sold.

The attached table is a summary of important figures concerning operating and financial results obtained for the first two quarters of the 2017 period.

Description                                    Three  months at          Three months at            Six months at
                                                 Sept. 30, 2016            Dec. 31, 2016            Dec. 31, 2016

Tonnes treated                                           18,714                   30,738                   49,452
Tonnes broken in stope                                   21,640                   18,842                   40,482
Extracted tonnes                                         23,398                   22,507                   45,905
Gold ounces produced                                      2 ,62                    3,566                    5,928
Gold recovery                                             96.1%                    95.2%                    95.7%
Revenues from the sale of
gold, silver and others                      $3,799,516 ($203/t)      $6,185,233 ($201/t)      $9,985,749 ($202/t)
Price of gold sold, per ounce                  $1,609 (US$1,208)        $1,734 (US$1,302)        $1,684 (US$1,264)
Average cash costs ($/ounce)                   $2,769 (US$2,079)        $1,358 (US$1,020)        $1,676 (US$1,258)
Sustaining costs ($/ounce)                         $952 (US$715)            $196 (US$147)            $366 (US$275)
All-in sustaining costs ($/ounce)              $3,721 (US$2,794)       $1,554 (US$ 1,167)        $2,042 (US$1,533)
Gold and silver ingots inventory                     $1,439,619               $  154,295               $  154,295 
Gold and silver in circuit inventory                 $1,542,996               $1,383,921               $1,383,921 
Total inventory                                      $2,982,615               $1,538,216               $1,538,216 
Loss and comprehensive loss                          $1,206,159               $  925,934               $2,132,093 
Mining taxes                                         $   34,000               $   53,425               $   87,425 
Deferred taxes                                       $  (10,000)              $  (22,248)              $  (32,248)
Cash at the end of period                            $2,168,900               $3,331,463               $3,331,463 

The company reports a loss of $925,934 for the second quarter and a loss of $2,132,093 for the six-month period. The Elder mine operations were maintained for the whole quarter. However, the tonnes extracted totalled only 22,507 for the quarter for an average of 7,500 tonnes per month. That is less than the company's current objective of 10,000 tonnes per month. To improve results, the company is currently assessing the possibility of changing the working schedule to increase production without affecting too much costs and its objectives. However, during the period from July to December, lower-grade mineralization was found in stopes, giving an average of four grams per tonne of gold compared with five grams per tonne gold in previous quarters. Following these bad results, the company's operating controls were reinforced and starting in the middle of February, the average grade at the mill averaged five grams per tonne gold. Presently, a drift on the fifth level is advancing in a zone giving five grams per tonne gold and will reach, within a month, a zone with high-grade values in three surface diamond drill holes; two of them averaged 19 grams per tonne of gold and a third one gave 16 grams per tonne of gold over widths of 1.5 metres to 2.1 metres. The company should reach this zone within a month.

The loss was increased significantly by non-recurrent items, such as the value of options granted to directors and management to replace expired options, calculated according to the Black & Scholes formula for an amount of $582,000, by interests for an amount of $259,618 charged by Revenu Quebec on revised assessments for the years 2011 to 2014 and by the starting cost of the Sleeping Giant mill, estimated at about $500,000, accounted for in operating mining expenses.

Please note that average cash costs were very high in the first quarter ($2,079 (U.S.) per ounce) due to the start-up of the Sleeping Giant mill and the small tonnage treated, but in the second quarter, they were only $1,020 (U.S.) per ounce.

About Abcourt Mines Inc.

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 (2014); a feasibility study was completed in 2007 by Roche/Genivar on the Abcourt-Barvue project.

In 2016, Abcourt 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; the mill has a capacity of 700 to 750 tonnes per day.

We seek Safe Harbor.