Ms. Dawn Zhou reports

ABASCA RESOURCES RELEASES ASSAYS CONFIRMING MULTIPLE INTERSECTIONS FROM ITS THOR GRAPHITE ZONE AND ANNOUNCES RESUMPTION OF IN-FILL DRILLING AT ITS LOKI FLAKE GRAPHITE DEPOSIT

Abasca Resources Inc. has released assay results from KLS-25-072, drilled into the Thor graphite zone during the winter 2025 drill program at its Loki flake graphite deposit at its 100-per-cent-owned Key Lake South (KLS) project. The drill hole successfully intersected three zones of graphite mineralization while testing up-dip mineralization in KLS-24-046 drilled in the summer of 2024. Two of the three mineralization zones having high grades, the primary zone with a total length of 40 metres and average grade of 8.57 per cent Cg was intersected at 145 metres and a second 32 m zone at 6.43 per cent Cg was intersected at 347 m. The location and orientation of the drill hole is listed in Table 1 and its assay results are shown in Table 2.

The company also announces that it has started its summer infill drill program at the Loki flake graphite deposit. The approximately 5,000 m program will focus on the main section of the deposit, drilled in the summer of 2024, at a spacing that can support an indicated resource estimate.

Brian McEwan, vice-president of exploration, commented: "The results from KLS-25-072 are very exciting! The presence of three zones in one hole that was drilled into a relatively unexplored conductor gives us a lot of hope for continued exploration at the Thor zone. With continued work at the Loki deposit, we are eager to follow-up on these exciting results in future programs."

Collected samples were sent to SRC Geoanalytical Laboratories in Saskatoon, Sask., an independent laboratory accredited under ISO/IEC 17025:2017 for preparation and ICP-MS multielement analysis, boron by fusion as well as graphite content (per cent Cg) and total sulphur by LECO. Samples were collected in accordance with industry-standard quality assurance/quality control practices and included the insertion of blanks, standard reference materials and repeats into the sample stream at regular intervals. Samples were also collected for in-field and lab density measurements at regular intervals and through the mineralized zones.

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 project (KLS), a 23,977-hectare 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 possesses geological similarities and along strike of past Key Lake mine with prospective conductors of over 50 km for potential uranium mineralization. KLS is also host to the Loki flake graphite deposit comprising a total inferred resource of 11.31 Mt (million tonnes) at 7.65 per cent Cg. Please refer to the technical report dated May 29, 2025 (with an effective date of April 10, 2025), titled: "Technical Report on the Key Lake South Project with Initial Mineral Resource Estimate for the Loki Flake Graphite Deposit, Saskatchewan, Canada," for further information about the resource estimate.

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