Ms. Dawn Zhou reports

ABASCA RESOURCES ENGAGES TETRA TECH TO COMPLETE PRELIMINARY ECONOMIC ASSESSMENT FOR THE LOKI FLAKE GRAPHITE DEPOSIT

Abasca Resources Inc. has engaged Tetra Tech Canada Inc. to complete a preliminary economic assessment for the Loki flake graphite deposit at the company's 100-per-cent-owned Key Lake South project located in Northern Saskatchewan.

The engagement of Tetra Tech, a leading global provider of consulting and engineering services, marks a significant milestone in advancing the Loki deposit from an exploration project toward a development-ready asset. The PEA will provide an initial evaluation of the project's economic potential, including capital and operating cost estimates, mine design, and metallurgical recovery processes.

Advancing the Loki flake graphite deposit

The PEA will incorporate an updated mineral resource estimate, which reflects the successful 2025 and 2026 drilling programs. These programs extended the delineated strike length of the Loki deposit from 500 metres to approximately 1,400 metres, providing a larger mineralized footprint to be included in the updated MRE that will underpin the PEA. The study, which will be used to identify additional exploration work, will also build upon the environmental baseline studies, metallurgical testing and geotechnical drilling data acquired over the previous year, as well as incorporate strategic input from High Grade Mining Consulting Ltd., led by Gary Haywood, PEng, who was recently engaged to oversee technical derisking and project strategy.

The study will include:

• Mineral resource estimate update: incorporate and model data from more than 50 infill and extension drill holes completed in 2025 and 2026, which were not included in the maiden MRE; the updated MRE, to be prepared by Understood Mineral Resources Ltd., will reflect the expanded strike length of the Loki deposit and support upgrades to higher resource classifications.
• Open-pit mine engineering: design of a starter pit for bulk sampling to support a flotation pilot plant during the advanced exploration phase, as well as a full-scale pit design from the optimization shell and life-of-mine production schedule;
• Mineral processing: incorporate all metallurgical testing completed on the project and to facilitate the site-specific process design flow sheet for producing high-grade flake graphite concentrates;
• Infrastructure: leverage the project's proximity to existing infrastructure that provides the project with highway access and grid power;
• Environmental studies, permitting and social/community impact: using work to date to describe the project's environmental setting, baseline data collection, site water management, permitting requirements, and socio-economic and community engagement;
• Economic analysis: provision of a capital cost estimate and operating cost estimate to support the production of a graphite concentrate on site.

"Engaging Tetra Tech is a pivotal step in our fast-track road map to production. Tetra Tech's extensive experience with Northern Saskatchewan projects and its global expertise in graphite processing make it the ideal partner to help us unlock the value of the Loki deposit. This PEA will provide the technical and economic framework required to advance the project into the feasibility stage and ultimately bring this critical mineral asset into production," said Dawn Zhou, president and chief executive officer of Abasca.

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 and development 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, 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 with and is along strike of the past-producing Key Lake mine and hosts over 50 km of prospective conductors for potential uranium mineralization. KLS is also host to the Loki flake graphite deposit comprising a total inferred resource of 11.31 million tonnes at 7.65 per cent graphitic carbon. Subsequent drilling programs in 2025 and 2026 have extended the strike length of the Loki deposit, and these results will be incorporated into the updated mineral resource estimate that will underpin the coming PEA. 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 current resource estimate.

We seek Safe Harbor.