Mr. Renaud Hinse reports

ABCOURT MINES REPORTS FOURTH QUARTER AND ANNUAL FINANCIAL RESULTS

Abcourt Mines Inc. has released its operating and financial results for the fourth quarter and the period ended on June 30, 2017, with very good results.

Fourth quarter and annual highlights:

• 4,779 ounces of gold sold at an average price of $1,677 ($1,262 (U.S.)) in the fourth quarter with revenues of $8,013,482;
• Annual sale of 13,322 ounces of gold at an average price of $1,670 ($1,260 (U.S.)) for an annual revenues of $22,251,954;
• Cash costs of $1,386 ($1,043 (U.S.)) per ounce for the fourth quarter; for the annual fiscal period, cash costs were $1,531 ($1,173 (U.S.)); cash costs in the fourth quarter were as expected;
• Loss for the fiscal period of $906,486, or nil per share, mainly caused by the following exceptional elements:
  • An expense of $582,000 related to the issue of options to officers and directors, to replace expired options;
  • Interests totalling $336,910 resulting from new assessments by Revenue Quebec for years 2011 to 2014;
  • Costs to restart the Sleeping Giant mill at an estimated amount of about $500,000;
• In the fourth quarter, cash received from operating activities was $593,582; for the annual period, an amount of $850,981 in cash was used for operating activities;
• Abcourt ended the financial period with $1,289,470 in cash and $2,627,647 in receivables consisting mainly in amounts receivables from the sale of gold and silver;
• During the annual period, assets increased by an amount of $3,884,106 from $33,574,141 in 2016 to $37,458,247 in 2017; this growth is in accordance with the company's strategy of creating value for its shareholders;
• The gross profit realized over the fiscal period was $728,624;
• On Sept. 25 and Oct. 24, 2017, the company announced interesting results in diamond drill holes at the Sleeping Giant mine; these results are being used in the preparation of a new resource estimate which is being done now;
• Work is currently being done on the Sleeping Giant tailings pond; dikes are raised to increase the capacity of the pond; this additional capacity will be used to store tailings produced over the next two years;
• Abcourt has several gold assets of quality, which are the Elder and Sleeping Giant mines and several other properties with important gold mineralization; in zinc, there is the Abcourt-Barvue project with substantial minable zinc and silver resources, mainly by an open pit and the following satellite properties: Vendome, Jonpol and Aldermac.

Strategy and outlook

Currently, the company is focusing on stabilizing and increasing the Elder production. This involves preparing a new working schedule to increase production to at least 10,000 tonnes per month. Diamond drilling on surface has recently given good results and confirms existing resources.

Discussions are currently taking place to use the full capacity of the Sleeping Giant mill, with custom ore, thereby reducing the operating cost per tonne treated.

For the long-term growth in the gold sector, the company has recently started discussions with outside parties to accelerate the exploration on the Discovery and Flordin gold properties where substantial gold mineralization is found. These properties were acquired with the Aurbec assets.

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.

The Abcourt-Barvue property has silver zinc resources (2014).

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.

We seek Safe Harbor.