Mr. Dawn Zhou reports

ABASCA RESOURCES ANNOUNCES 2025 WINTER PROGRAM PLAN AND NON-BROKERED FLOW-THROUGH PRIVATE PLACEMENT OF UP TO $3.20 MILLION

Abasca Resources Inc. has discussed its 2025 winter program plan at its 100-per-cent-owned Key Lake South project (KLS), which includes approximately 5,000 metres of drilling to expand on the summer program's successful results. The drilling will continue at a 100 m by 100 m grid spacing to demonstrate the strike and depth extent of the Loki flake graphite zone. The company will also begin collecting field data for environmental baseline and hydrological studies.

Additional testing of the new parallel prospective zone to the north of the Loki zone will also be conducted during the program. The conductors in this area to the north of the Loki zone were identified as priority targets in 2015 and are relatively untested for both graphite and uranium mineralization.

Abasca is also planning a summer program to continue the methodical testing of prospective uranium targets at KLS. The property contains several target areas with over 40 km of untested conductors. In conjunction with the company's uranium exploration during the summer, it will also further its systematic delineation the Loki zone.

The company is also announcing a non-brokered private placement of $3.20-million which comprised the sale of up to 20 million units of the company (the FT units) at a price of 16 cents per FT unit, with each FT unit to comprise one common share of the company and one-half of a common share purchase warrant, with each warrant entitling the holder to purchase an additional common share for a period of two years at a price of 20 cents per warrant share (the warrant exercise price).

The gross proceeds received from the FT units will be used for exploration activities on the company's Key Lake South project (KLS).

In connection with the Financing, the company may pay finders' fees in cash equal up to 6.0 per cent of the gross proceeds raised from investors introduced to the company by finders and issue warrants equal up to 6.0 per cent of the number of units acquired by investors introduced to the company by the finder in accordance with the policies of the exchange.

All securities issued and sold under the offering will be subject to a hold period expiring four months and one day from their date of issuance.

Qualified person

The technical information in this news release has been reviewed and approved by Brian McEwan, PGeo, a qualified person as set out in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. McEwan is the vice-president of exploration at Abasca.

About Abasca Resources Inc.

Abasca is a mineral exploration company that is primarily engaged in the acquisition and evaluation of mineral exploration properties. The company owns the Key Lake South uranium project, a 23,977-hectare uranium exploration project located in the Athabasca basin region in Northern Saskatchewan, approximately 15 kilometres south of the former Key Lake mine and current Key Lake mill. The project also hosts the Loki flake graphite zone (Loki zone).

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