Ms. Dawn Zhou reports

ABASCA RESOURCES ANNOUNCES ENGAGEMENT OF HIGH GRADE MINING CONSULTING LTD. AND NON-BROKERED PRIVATE PLACEMENT OF UP TO $3.0 MILLION

Abasca Resources Inc. has hired High Grade Mining Consulting Ltd., led by veteran mining engineer Gary Haywood, PEng, to provide strategic technical consulting for the advancement of the company's 100-per-cent-owned Loki flake graphite deposit in Northern Saskatchewan. High Grade Mining Consulting will assist with the preparation of the upcoming preliminary economic assessment (PEA) for the Loki deposit.

Mr. Haywood brings decades of extensive experience in mine operations and project development, with a specific focus on Northern Saskatchewan. His previous roles include vice-president of project development at Fission Uranium Corp., where he played a key role in the development of the PLS project and vice-president of operations and chief operating officer at Golden Band Resources. Additionally, Mr. Haywood held senior engineering and operational roles with Cameco Corp. at the Eagle Point and McArthur River mines.

"We are delighted to bring Gary Haywood and High Grade Mining Consulting on board at this pivotal time for Abasca. Gary's deep expertise in mine planning and his track record of successfully advancing projects in Northern Saskatchewan make him an invaluable consultant to the company. His guidance will be instrumental as we derisk the Loki deposit and accelerate our path toward our production goals," commented Dawn Zhou, president and chief executive officer of Abasca.

Non-brokered private placement

The company is also announcing a non-brokered private placement of up to $3.0-million. The private placement will comprise the sale of up to 12 million common shares of the company at a price of 25 cents per FT share. Each FT share will be issued as a flow-through share (as defined in the Income Tax Act (Canada)).

The gross proceeds received from the private placement will be used for exploration activities on the company's Loki deposit.

The gross proceeds from the issuance of the FT shares are intended to be used to incur Canadian exploration expenses (as this term is defined in the tax act) that the company may renounce pursuant to the tax act as flow-through mining expenditures (as this term is defined in the tax act) or, if the company determines in its sole discretion, as flow-through critical mineral mining expenditures (as defined in the tax act).

In connection with the private placement, the company may pay cash finders' fees of up to 6.0 per cent of the gross proceeds raised from investors introduced to the company by finders.

All securities issued and sold under the private placement will be subject to a hold period expiring four months and one day from the date of closing of the private placement. Closing of the private placement is subject to the company's receipt of exchange approval.

For more information on the Loki flake graphite deposit 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 of 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, and titled "Technical Report on the Key Lake South Project with Initial Mineral Resource Estimate for the Loki Flake Graphite Deposit, Saskatchewan, Canada," filed under the company's profile on the SEDAR+ website, for further information about the resource estimate.

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