Ms. Dawn Zhou reports

ABASCA RESOURCES ENGAGES UNDERSTOOD MINERAL RESOURCES LTD. TO COMPLETE FLAKE GRAPHITE RESOURCE ESTIMATE OF ITS LOKI FLAKE GRAPHITE ZONE AND GRANTS STOCK OPTIONS

Abasca Resources Inc. has engaged an independent mineral resource consulting firm, Understood Mineral Resources Ltd. (UMR), to complete a flake graphite resource estimate of its Loki flake graphite zone on its 100-per-cent-owned Key Lake South (KLS) project. UMR has extensive experience in modeling structurally controlled resources that are supported and guided by geostatistical analyses.

Brian McEwan, vice-president of exploration, stated: "We are thrilled to have understood mineral resources work on the flake graphite resource estimate at the Loki zone. Their deterministic and probabilistic resource modeling approach will be a valued asset. The first lab results received from Abasca's summer 2024 drill program have been very encouraging, and we are excited to continue our work on the Loki zone in the upcoming 2025 winter drilling program."

The company is also pleased to announce the grant of 3.05 million incentive stock options to its directors and officers, with each option entitling the holder to purchase one common share of the company for a period of five years at an exercise price of 15 cents per share.

For more information on the Loki flake graphite zone and an overview of the Key Lake South project, please visit the company's website.

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 Resources is a Canadian mineral exploration company that is primarily engaged in the acquisition and evaluation of mineral exploration properties. The company owns the Key Lake South project (KLS), a 100-per-cent-owned 23,977-hectare uranium exploration project. KLS is located in the Athabasca basin region in Northern Saskatchewan, Canada, 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). Abasca is headquartered in Saskatoon, Canada, and its shares are listed on the TSX Venture Exchange (TSX-V: ABA).

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