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File: Press Release MAY 21 2013.docx
FOR IMMEDIATE RELEASE
MINE DEVELOPMENT AT ELDER GOLD MINE IS PROGRESSING WELL
Mont-St-Hilaire, Québec, Canada, May 21, 2013
Mr. Renaud Hinse, President and C.E.O. of Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges
--->: AML-FF) (the "Company"), is pleased to report that mine development at Elder gold mine is progressing well followin
--->g the reception of a Certificate of Authorization from the Ministère du Développement durable, de l'Environn
--->ement et des Parcs on April 17 last.
We now have three stopes in production, two stopes in preparation and one old access drift being rehabilitated. Ore e
--->xtraction in May will total 4,000 to 5,000 tonnes. Production will be increased gradually with the objective of reachi
--->ng commercial production at the end of 2013 (12,500 tonnes per month).
A surface diamond drilling program of 5,000 meters has recently been started. We are planning to drill 2,200 meters on
---> the Elder property to upgrade inferred resources into indicated resources. In addition, a total of 2,800 meters will
--->be drilled on our Aldermac, Abcourt-Barvue, Jonpol and Vezza properties.
A NI 43-101 resources estimate, completed by Mr. Jean-Pierre Bérubé, P. Eng., was filed on SEDAR in May 2012
--->. It indicates 1,361,000 tonnes with a grade of 6.60 grams of gold per tonne in the measured and indicated categories
--->for a total of 289,000 ounces of gold and 638,000 tonnes with a grade of 5.70 grams of gold per tonne in the inferred
--->category for a total of 117,000 ounces of gold. Mineral resources are not mineral reserves and do not have demonstrate
--->d economic viability.
A positive Preliminary Economic Assessment report (PEA) on the Elder mine, completed by Roche Limited, Consulting Grou
--->p in November 2012, indicates a net present value before taxes (8%) of $81.8 million.
About Abcourt Mines Inc.
Abcourt Mines Inc. is an exploration and development company with strategically located properties in northwestern Que
--->bec, Canada. The Elder Mine with 43-101 gold resources, the Abcourt-Barvue Project with 43-101 silver-zinc ore reserve
--->s and resources and the Aldermac property with historical copper-zinc resources are all former producers. Abcourt is n
--->ow focused on bringing the Elder and Abcourt-Barvue projects back into production with Elder as the first priority. A
--->t the same time the company is working on other projects (Aldermac, Vezza, Jonpol and Vendome) to increase its mineral
---> resources inventory. A 43-101 resource calculation was completed in July, 2012, for the Elder Mine. A positive PEA re
--->port was prepared on Elder mine in the Fall of 2012 by Roche Limited, Consulting Group. A positive 43-101 feasibility
--->study was completed by GENIVAR in 2007 on the Abcourt-Barvue Project. In addition, mill equipment was purchased. To kn
--->ow more about Abcourt, please visit our web site at www.abcourt.com and SEDAR.
FORWARD-LOOKING STATEMENTS: Certain of the information contained in this news release may contain "forward-looking inf
--->ormation". Forward-looking information and statements may include, among others, statements regarding the future plan
--->s, costs, objectives or performance of Abcourt Mines Inc. (the "Company"), or the assumptions underlying any of the f
--->oregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "antici
--->pate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looki
--->ng statements. Forward-looking statements should not be read as guarantees of future performance or results, and will
---> not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achi
--->eved. Forward-looking statements and information are based on information available at the time and/or management's g
--->ood-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions a
--->nd other unpredictable factors, many of which are beyond the Company's control. These risks, uncertainties and assump
--->tions include, but are not limited to, those described under "Risk Factors" in the Company's amended and restated annu
--->al information form dated November 26, 2010 and could cause actual events or results to differ materially from those p
--->rojected in any forward-looking statements. The Company does not intend, nor does the Company undertake any obligatio
--->n, to update or revise any forward-looking information or statements contained in this news release to reflect subsequ
--->ent information, events or circumstances or otherwise, except if required by applicable laws.
This press release was prepared by Mr. Renaud Hinse, a qualified person, President of Abcourt Mines Inc.
For more information, please contact:
Renaud Hinse, President and CEO
T: 819 768-2857 450 446-5511
F: 819 768-5475 450 446-3550
Email : rhinse@abcourt.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
---> Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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