Mr. Renaud Hinse reports

EXCELLENT OPERATING AND FINANCIAL RESULTS FOR ELDER MINE FOR THE THREE-MONTH AND SIX-MONTH PERIODS ENDED DECEMBER 31, 2017

Abcourt Mines Inc. has released operating and financial results for its Elder mine for the three-month and six-month periods ended Dec. 31, 2017.

Highlights:

• In Q2, 4,225 ounces of gold were sold at an average price of $1,627 ($1,281 (U.S.)), with revenues of $6,873,133;
• Sales for the half ended Dec. 31, 2017, of 6,509 ounces of gold at an average price of $1,627 ($1,289 (U.S.)), for total revenue of $10,589,947;
• Net income of $784,748 for the quarter and $510,929 for the half;
• Gross profit of $1,023,283 for the quarter and $886,014 for the half;
• A substantial increase in tonnes treated at Sleeping Giant mill, an increase of 42 per cent over the previous quarter;
• Average production cash costs (1) for the quarter were $1,293 ($1,018 (U.S.)) per ounce, a decrease of 5 per cent over the same quarter of the previous year, which were $1,358 ($1,020 (U.S.)) per ounce. In 2017, important maintenance costs to the Sleeping Giant mill resulted in an upward impact on the average production cash costs (1);
• All-in sustaining costs (1) of $1,526 ($1,202 (U.S.)) per ounce, a decrease of 15 per cent over the all-in sustaining costs (1) for 2017, which were $1,810 ($1,387 (U.S.)) per ounce;
• Abcourt reached its production-cost-reduction objectives;
• The operating cash flow was $1,187,150 for the six-month period ended Dec. 31, 2017;
• Cash balance at the end of the quarter was $3,346,810, including net proceeds of $995,212 related to a private financing completed on Dec. 21, 2017, and amounts receivables of $1,160,723, mainly from the sale of gold;
• A surface drilling program was started in September on the Elder property. Several good intersections were cut. This program was continued to the end of December. Additional exploration and definition drilling is planned for 2018;
• In 2018, about 8,000 metres of drilling are planned on the Aldermac, Discovery and Dormex properties;
• Abcourt is focusing on increasing production from Elder to 12,000 tonnes per month. The new work schedule introduced at the end of November, 2017, increased the working hours per month and will help reach the company's production goal;
• Abcourt maintains its goal to increase the overall profitability of the company with a close control on Elder mine and Sleeping Giant mill production costs and by improving the Elder mine production grade.

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. Abcourt is focusing on the exploitation of the Elder mine. The Abcourt-Barvue property has silver-zinc resources (2014).

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

(1) Non-international financial reporting standards (IFRS) performance measures.

In this press release, the terms average production cash costs and all-in sustaining costs are used, which are non-IFRS performance measures, and may not be comparable with similar measures presented by other companies. The company believes that, in addition to conventional measures prepared in accordance with IFRS, the company and certain investors use this information to evaluate the company's performance. Accordingly, these non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. For full disclosure and reconciliation of these measures, refer to the non-GAAP (generally accepted accounting principles) financial performance measures section contained in management's discussion and analysis for the second quarter of 2018.

We seek Safe Harbor.