Charland
Subject: Press Release
PLAIN TEXT:
As requested :
FOR IMMEDIATE RELEASE
TSX Venture { –} ABI.V January 4, 2017
Abcourt Announces the Closing of a Private Placement of Units and
Flow-Through Shares for a Total of $ 533,550
___________________________________________________
Mont-St-Hilaire, Quebec, Canada, January 4, 2017
Mr. Renaud Hinse, President and Chief Executive Officer of Abcourt Mines
Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF)
("Abcourt" or the "Company") announces that the Company closed a
non-brokered private placement for an amount of $533,550 (the "Private
Placement"). The Private Placement consisted in the sale of 168 units at a
price of $850 each and of 3,907,500 flow-through shares at a price of $0.10
per flow-through share. Each unit is comprised of one Class B share (a
"common share") of the Company at a price of $0.085 per common share and of
one-half common share purchase warrant (a "Unit"). Each full warrant will
entitle the holder thereof to purchase one common share of the Company at a
price of $0.10 over a period of 12 months from the date of closing. The
Company will issue a total of 1,680,000 common shares, 3,907,500
flow-through shares and of 840,000 warrants pursuant to the Private
Placement.
The proceeds from the subscriptions of Units sold pursuant to the Private
Placement will be used by the Company to pay the issue expenses and to
increase its working capital. The proceeds from the subscriptions of
flow-through shares will be used to incur exploration expenses, mainly
surface drilling, on mining properties of Abcourt (Aldermac, Harricana,
Dormex, etc{
…}). Harricana and Dormex properties are close to the Sleeping
Giant Mine.
Certain related parties to Abcourt (the "Related Parties") have participated
in the Private Placement:
dot Mr. Renaud Hinse, director and chief executive officer of Abcourt,
has purchased one Unit (representing 10,000 common shares and 5,000
warrants) and 350,000 flow-through shares. Decochib inc., a private company
controlled by Renaud Hinse, has subscribed 650,000 flow-through shares.
After the Private Placement, assuming the exercise of the warrants included
in the units purchased by Renaud Hinse, Renaud Hinse would hold, directly or
indirectly, or exercise control over approximately 17.48% of the Company's
common shares issued and outstanding.
dot Mr. Normand Hinse, director of Abcourt, has purchased 18 units
(representing 180,000 common shares and 90,000 warrants) and 347,000
flow-through shares. Systeme Electronique Rayco Ltee., a private company
controlled by Normand Hinse, has subscribed 60 units (representing 600,000
common shares and 300 000 warrants). After the Private Placement, assuming
the exercise of the warrants included in the units purchased, Normand Hinse
would hold, directly or indirectly, or exercise control over approximately
2.45% of the Company's common shares issued and outstanding.
dot Mr. Marc Filion, director of Abcourt, has purchased 2 units
(representing 20,000 common shares and 10,000 warrants) and 83,000
flow-through shares. After the Private Placement, assuming the exercise of
the warrants included in the units purchased by Mr. Filion, Marc Filion
would hold, directly or indirectly, or exercise control over less than 1% of
the Company's common shares issued and outstanding.
The securities issued to the Related Parties in the Private Placement
constitutes a "related party transaction" within the meaning of Regulation
61-101 respecting protection of minority security holders in special
transactions ("Regulation 61-101"). In its consideration and approval of the
Private Placement, the board of directors of Abcourt has determined that
such subscriptions to the Related Parties are exempt from the formal
valuation and minority approval requirements of Regulation 61-101 on the
basis that the fair market value of these subscriptions to the Related
Parties does not exceed 25% of the market capitalization of Abcourt, in
accordance with sections 5.5 and 5.7 of Regulation 61-101.
All of the securities of Abcourt issued under the Private Placement are
subject to a hold period of four months from the closing date, expiring on
May 1, 2017. The Private Placement is subject to the final approval of the
TSX Venture.
About Abcourt Mines Inc.
Abcourt Mines Inc. is a gold producer and a Canadian exploration company
with strategically located properties in northwestern Quebec, Canada. The
Elder property has gold resources (2012) and a positive P.E.A. study.
Abcourt is focusing on the exploitation of the Elder mine.
The Abcourt-Barvue property has silver{ –}zinc resources (2012). A feasibility
study was completed in 2007 by Roche / Genivar on the Abcourt-Barvue
project.
In 2016, Abcourt has acquired the Sleeping Giant mine and mill, located
half-way between Amos and Matagami, in Abitibi, Quebec, in the territory
covered by the Plan Nord of the Quebec government. The mill has a capacity
of 700 to 750 tonnes per day and the Sleeping Giant property has measured
and indicated historical resources of 306,000 tonnes with a grade of 12.3
grams of gold per tonne and 42,000 tonnes of inferred historical resources
with a grade of 12.4 grams of gold per tonne. Other advanced exploration
properties were also acquired, with, in aggregate, historical indicated and
measured resources totaling 403,210 ounces of gold and historical inferred
resources of 432,000 ounces of gold.
Historical resources in copper, zinc, gold and silver are found on the
Aldermac and Jonpol properties.
Work must be done to upgrade or verify the historical mineral resources as
current mineral resources.
A qualified person has not done sufficient work to classify the historical
estimate as current mineral resources, and the issuer is not treating the
historical estimate as current mineral resources.
To know more about Abcourt Mines Inc. (TSXV: ABI), please visit our web site
at www.abcourt.com and consult our filings under Abcourt's profile on
<http://www.sedar.com/> www.sedar.com.
This press release was prepared by Mr. Renaud Hinse, Engineer and President
of Abcourt Mines Inc. Mr. Hinse is a "Qualified Person" under the terms of
Regulation 43-101.
Forward-Looking Statements
This news release contains forward-looking statements that include risks and
uncertainties. When used in this news release, the words "estimate",
"project", "anticipate", "expect", "intend", "believe", "hope", "may" and
similar expressions, as well as "will", "shall" and other indications of
future tense, are intended to identify forward-looking statements. The
forward-looking statements are based on current expectations and apply only
as of the date on which they were made. Except as may be required by law,
the Corporation undertakes no obligation and disclaims any responsibility to
publicly update or revise any forward-looking statements or information,
whether as a result of new information, future events or otherwise.
The factors that could cause actual results to differ materially from those
indicated in such forward-looking statements include changes in the
prevailing price of gold, the Canadian-United States exchange rate, grade of
ore mined and unforeseen difficulties in mining operations that could affect
revenue and production costs. Other factors such as uncertainties regarding
government regulations could also affect the results. Other risks may be set
out in Abcourt' annual and periodic reports. The forward-looking information
contained herein is made as of the date of this news release.
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.
Marcelle Charland, administrative assistant
475, de l'Eglise, PO Box 459
Rouyn-Noranda, QC, J0Z 1Y0
<mailto:mcharland@abcourt.com> mcharland@abcourt.com
Tel. : (819) 768-2857
Fax : (819) 768-5475
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--->" alt=" " v:shapes="_x0000_s1026"></span><![endif]><span lang=EN-CA style='font-family:"Arial","sa
--->ns-serif"'>FOR<span style='letter-spacing:-.1pt'> IMMEDIATE</span> <span style='letter-spacing:-.1pt'>RELEASE</span></
--->span><span lang=EN-CA style='font-family:"Arial","sans-serif";font-weight:normal'><o:p></o:p></span></h1><p class=MsoB
--->odyText align=center style='mso-margin-top-alt:4.4pt;margin-right:24.05pt;margin-bottom:0cm;margin-left:289.4pt;margin
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--->t;line-height:102%;letter-spacing:-.1pt'>TSX</span></b><b><span lang=EN-CA style='font-size:11.0pt;line-height:102%'>
---><span style='letter-spacing:-.05pt'>Venture</span><span style='letter-spacing:.05pt'> </span>-<span style='letter-spac
--->ing:.15pt'> </span><span style='letter-spacing:-.15pt'>ABI.V</span><span style='letter-spacing:1.15pt'> January 4</spa
--->n>,<span style='letter-spacing:.05pt'> </span><span style='letter-spacing:-.05pt'>2017</span></span></b><span lang=EN-
--->CA style='font-size:11.0pt;line-height:102%'><o:p></o:p></span></p><p class=MsoBodyText style='margin-left:0cm;punctua
--->tion-wrap:simple'><b><span lang=EN-CA><o:p> </o:p></span></b></p><p class=MsoBodyText style='margin-left:0cm;punc
--->tuation-wrap:simple'><b><span lang=EN-CA><o:p> </o:p></span></b></p><p class=MsoBodyText style='mso-margin-top-al
--->t:.15pt;margin-right:0cm;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;punctuation-wrap:simple'><b><span lan
--->g=EN-CA><o:p> </o:p></span></b></p><p class=MsoBodyText align=center style='mso-margin-top-alt:0cm;margin-right:2
--->4.05pt;margin-bottom:0cm;margin-left:23.05pt;margin-bottom:.0001pt;text-align:center;punctuation-wrap:simple'><b><span
---> lang=EN-CA style='font-size:14.0pt;letter-spacing:-.1pt'>Abcourt</span></b><b><span lang=EN-CA style='font-size:14.0p
--->t;letter-spacing:.15pt'> </span></b><b><span lang=EN-CA style='font-size:14.0pt;letter-spacing:-.1pt'>Announces</span>
---></b><b><span lang=EN-CA style='font-size:14.0pt'> the<span style='letter-spacing:.05pt'> </span><span style='letter-sp
--->acing:-.05pt'>Closing</span><span style='letter-spacing:-.1pt'> </span><span style='letter-spacing:-.05pt'>of a</span>
---><span style='letter-spacing:.05pt'> </span><span style='letter-spacing:-.05pt'>Private</span><span style='letter-spaci
--->ng:2.45pt'> </span><span style='letter-spacing:-.05pt'>Placement</span><span style='letter-spacing:.05pt'> </span><spa
--->n style='letter-spacing:-.05pt'>of</span><span style='letter-spacing:.05pt'> </span><span style='letter-spacing:-.1pt'
--->>Units and Flow-Through Shares</span><span style='letter-spacing:-.05pt'> for a Total of $ 533,550<o:p></o:p></span></
--->span></b></p><p class=MsoBodyText align=center style='mso-margin-top-alt:0cm;margin-right:24.05pt;margin-bottom:0cm;ma
--->rgin-left:23.05pt;margin-bottom:.0001pt;text-align:center;punctuation-wrap:simple'><b><span lang=EN-CA style='font-siz
--->e:14.0pt;letter-spacing:-.05pt'>___________________________________________________<o:p></o:p></span></b></p><p class=
--->MsoBodyText align=center style='mso-margin-top-alt:0cm;margin-right:24.05pt;margin-bottom:0cm;margin-left:23.05pt;marg
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--->tyle='text-decoration:none'> </span></o:p></span></u></p><p class=MsoBodyText style='text-align:justify;punctuati
--->on-wrap:simple'><span lang=EN-CA style='font-size:11.0pt;letter-spacing:-.05pt'>Mont-St-Hilaire,</span><span lang=EN-C
--->A style='font-size:11.0pt;letter-spacing:-.5pt'> </span><span lang=EN-CA style='font-size:11.0pt'>Qu{� �}bec,<s
--->pan style='letter-spacing:-.45pt'> </span>Canada,<span style='letter-spacing:-.4pt'> January 4</span>,<span style='let
--->ter-spacing:-.35pt'> </span>2017<o:p></o:p></span></p><p class=MsoBodyText style='mso-margin-top-alt:.55pt;margin-righ
--->t:0cm;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;punctuation-wrap:simple'><span lang=EN-CA style='font-si
--->ze:9.5pt'><o:p> </o:p></span></p><p class=MsoBodyText style='margin-right:5.75pt;text-align:justify;punctuation-w
--->rap:simple'><b><span lang=EN-CA style='font-size:11.0pt'>Mr. Renaud Hinse, President and Chief Executive Officer of Ab
--->court Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) </span></b><span lang=EN-CA style=
--->'font-size:11.0pt'>("<b>Abcourt</b>" or the "<b>Company</b>") announces that the Company closed a non-brokered private
---> placement for an amount of $533,550 (the "<b>Private Placement</b>").{� �} The Private Placement consisted in
--->the sale of 168 units at a price of $850 each and of 3,907,500 flow-through shares at a price of $0.10 per flow-throug
--->h share. Each unit is comprised of one Class B share (a "<b>common share</b>") of the Company at a price of $0.085 per
---> common share and of one-half common share purchase warrant (a "<b>Unit</b>"). Each full warrant will entitle the hold
--->er thereof to purchase one common share of the Company at a price of $0.10 over a period of 12 months from the date of
---> closing. The Company will issue a total of 1,680,000 common shares, 3,907,500 flow-through shares and of 840,000 warr
--->ants pursuant to the Private Placement.<o:p></o:p></span></p><p class=MsoBodyText style='margin-right:5.75pt;text-alig
--->n:justify;punctuation-wrap:simple'><span lang=EN-CA style='font-size:11.0pt'><o:p> </o:p></span></p><p class=MsoB
--->odyText style='margin-right:1.5pt;text-align:justify;punctuation-wrap:simple'><span lang=EN-CA style='font-size:11.0pt
--->'>The proceeds from the subscriptions of Units sold pursuant to the Private Placement will be used by the Company to p
--->ay the issue expenses and to increase its working capital.{� �} The proceeds from the subscriptions of flow-thr
--->ough shares will be used to incur exploration expenses, mainly surface drilling, on mining properties of Abcourt (Alde
--->rmac, Harricana, Dormex, etc...).{� �} Harricana and Dormex properties are close to the Sleeping Giant Mine.<o:
--->p></o:p></span></p><p class=MsoBodyText style='mso-margin-top-alt:.5pt;margin-right:0cm;margin-bottom:0cm;margin-left:
--->0cm;margin-bottom:.0001pt;punctuation-wrap:simple'><span lang=EN-CA style='font-size:11.0pt'><o:p> </o:p></span><
--->/p><p class=MsoBodyText style='margin-right:1.5pt;text-align:justify;punctuation-wrap:simple'><span lang=EN-CA style='
--->font-size:11.0pt'>Certain related parties to Abcourt (the "Related Parties") have participated in the Private Placemen
--->t:<o:p></o:p></span></p><p class=MsoBodyText style='mso-margin-top-alt:.1pt;margin-right:0cm;margin-bottom:0cm;margin-
--->left:0cm;margin-bottom:.0001pt;punctuation-wrap:simple'><span lang=EN-CA style='font-size:11.0pt'><o:p> </o:p></s
--->pan></p><p class=MsoBodyText style='margin-left:41.0pt;text-align:justify;text-indent:-18.0pt;mso-list:l0 level1 lfo1;
--->punctuation-wrap:simple'><![if !supportLists]><span lang=EN-CA style='font-family:Symbol'><span style='mso-list:Ignore
--->'>{� �}<span style='font:7.0pt "Times New Roman"'> </span></span></sp
--->an><![endif]><span lang=EN-CA style='font-size:11.0pt'>Mr. Renaud Hinse, director and chief executive officer of Abcou
--->rt, has purchased one Unit (representing 10,000 common shares and 5,000 warrants) and 350,000 flow-through shares.{� &
--->#65533;} Decochib inc., a private company controlled by Renaud Hinse, has subscribed 650,000 flow-through shares.{� &#
--->65533;} After the Private Placement, assuming the exercise of the warrants included in the units purchased by Renaud H
--->inse, Renaud Hinse would hold, directly or indirectly, or exercise control over approximately 17.48% of the Company's
--->common shares issued and outstanding.<o:p></o:p></span></p><p class=MsoBodyText style='mso-margin-top-alt:.1pt;margin-
--->right:0cm;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;punctuation-wrap:simple'><span lang=EN-CA style='fon
--->t-size:11.0pt'><o:p> </o:p></span></p><p class=MsoBodyText style='margin-left:41.0pt;text-align:justify;text-inde
--->nt:-18.0pt;mso-list:l0 level1 lfo1;punctuation-wrap:simple'><![if !supportLists]><span lang=EN-CA style='font-family:S
--->ymbol'><span style='mso-list:Ignore'>{� �}<span style='font:7.0pt "Times New Roman"'> &n
--->bsp; </span></span></span><![endif]><span lang=EN-CA style='font-size:11.0pt'>Mr. Normand Hinse, director
--->of Abcourt, has purchased 18 units (representing 180,000 common shares and 90,000 warrants) and 347,000 flow-through s
--->hares.{� �} Syst{� �}me Electronique Rayco Ltee., a private company controlled by Normand Hinse, has sub
--->scribed 60 units (representing 600,000 common shares and 300 000 warrants).{� �} After the Private Placeme
--->nt, assuming the exercise of the warrants included in the units purchased, Normand Hinse would hold, directly or indir
--->ectly, or exercise control over approximately 2.45% of the Company's common shares issued and outstanding.<o:p></o:p><
--->/span></p><p class=MsoBodyText style='mso-margin-top-alt:.1pt;margin-right:0cm;margin-bottom:0cm;margin-left:0cm;margi
--->n-bottom:.0001pt;punctuation-wrap:simple'><span lang=EN-CA style='font-size:11.0pt'><o:p> </o:p></span></p><p cla
--->ss=MsoBodyText style='margin-left:41.0pt;text-align:justify;text-indent:-18.0pt;mso-list:l0 level1 lfo1;punctuation-wr
--->ap:simple'><![if !supportLists]><span lang=EN-CA style='font-family:Symbol'><span style='mso-list:Ignore'>{� �}
---><span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><
--->span lang=EN-CA style='font-size:11.0pt'>Mr. Marc Filion, director of Abcourt, has purchased 2 units (representing 20,
--->000 common shares and 10,000 warrants) and 83,000 flow-through shares.{� �} After the Private Placement, assumi
--->ng the exercise of the warrants included in the units purchased by Mr. Filion, Marc Filion would hold, directly or ind
--->irectly, or exercise control over less than 1% of the Company's common shares issued and outstanding.<o:p></o:p></span
--->></p><p class=MsoBodyText style='mso-margin-top-alt:0cm;margin-right:5.9pt;margin-bottom:0cm;margin-left:41.0pt;margin
--->-bottom:.0001pt;line-height:11.4pt;mso-line-height-rule:exactly;punctuation-wrap:simple'><span lang=EN-CA style='font-
--->size:11.0pt'><o:p> </o:p></span></p><p class=MsoBodyText style='mso-margin-top-alt:2.45pt;margin-right:1.5pt;marg
--->in-bottom:0cm;margin-left:5.0pt;margin-bottom:.0001pt;text-align:justify;punctuation-wrap:simple'><span lang=EN-CA sty
--->le='font-size:11.0pt'>The securities issued to the Related Parties in the Private Placement constitutes a "related par
--->ty transaction" within the meaning of Regulation 61-101 respecting protection of minority security holders in special
--->transactions ("Regulation 61-101"). In its consideration and approval of the Private Placement, the board of directors
---> of Abcourt has determined that such subscriptions to the Related Parties are exempt from the formal valuation and min
--->ority approval requirements of Regulation 61-101 on the basis that the fair market value of these subscriptions to the
---> Related Parties does not exceed 25% of the market capitalization of Abcourt, in accordance with sections 5.5 and 5.7
--->of Regulation 61-101.<o:p></o:p></span></p><p class=MsoBodyText style='mso-margin-top-alt:.05pt;margin-right:0cm;margi
--->n-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;punctuation-wrap:simple'><span lang=EN-CA style='font-size:11.0pt'>
---><o:p> </o:p></span></p><p class=MsoBodyText style='mso-margin-top-alt:2.45pt;margin-right:1.5pt;margin-bottom:0cm
--->;margin-left:5.0pt;margin-bottom:.0001pt;text-align:justify;punctuation-wrap:simple'><span lang=EN-CA style='font-size
--->:11.0pt'>All of the securities of Abcourt issued under the Private Placement are subject to a hold period of four mont
--->hs from the closing date, expiring on May 1, 2017. The Private Placement is subject to the final approval of the TSX V
--->enture.<o:p></o:p></span></p><p class=MsoBodyText style='margin-right:18.85pt;text-align:justify;punctuation-wrap:simp
--->le'><span lang=EN-CA style='font-size:11.0pt'><o:p> </o:p></span></p><p class=MsoNormal><b><span lang=EN-CA style
--->='font-family:"Arial","sans-serif";color:black'>About Abcourt Mines Inc. <o:p></o:p></span></b></p><p class=MsoNormal>
---><span lang=EN-CA style='font-family:"Arial","sans-serif";color:black'><o:p> </o:p></span></p><p class=MsoNormal s
--->tyle='margin-bottom:12.0pt;text-align:justify'><span lang=EN-CA style='font-family:"Arial","sans-serif"'>Abcourt Mines
---> Inc. is a gold producer and a Canadian exploration company with strategically located properties in northwestern Queb
--->ec, Canada. The Elder property has gold resources (2012) and a positive P.E.A. study.{� �} Abcourt is focusing
--->on the exploitation of the Elder mine.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:12.0pt;text-align:
--->justify'><span lang=EN-CA style='font-family:"Arial","sans-serif"'>The Abcourt-Barvue property has silver-zinc resourc
--->es (2012). A feasibility study was completed in 2007 by Roche / Genivar on the Abcourt-Barvue project. <o:p></o:p></sp
--->an></p><p class=MsoNormal style='margin-bottom:12.0pt;text-align:justify'><span lang=EN-CA style='font-family:"Arial",
--->"sans-serif"'>In 2016, Abcourt has acquired the Sleeping Giant mine and mill, located half-way between Amos and Mataga
--->mi, in Abitibi, Quebec, in the territory covered by the Plan Nord of the Quebec government.{� �} The mill has a
---> capacity of 700 to 750 tonnes per day and the Sleeping Giant property has measured and indicated historical resources
---> of 306,000 tonnes with a grade of 12.3 grams of gold per tonne and 42,000 tonnes of inferred historical resources wit
--->h a grade of 12.4 grams of gold per tonne.{� �} Other advanced exploration properties were also acquired, with,
---> in aggregate, historical indicated and measured resources totaling 403,210 ounces of gold and historical inferred res
--->ources of 432,000 ounces of gold.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:12.0pt;text-align:justi
--->fy'><span lang=EN-CA style='font-family:"Arial","sans-serif"'>Historical resources in copper, zinc, gold and silver ar
--->e found on the Aldermac and Jonpol properties. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:12.0pt;te
--->xt-align:justify'><span lang=EN-CA style='font-family:"Arial","sans-serif"'>Work must be done to upgrade or verify the
---> historical mineral resources as current mineral resources. <o:p></o:p></span></p><p class=MsoNormal style='margin-bot
--->tom:12.0pt;text-align:justify'><span lang=EN-CA style='font-family:"Arial","sans-serif"'>A qualified person has not do
--->ne sufficient work to classify the historical estimate as current mineral resources, and the issuer is not treating th
--->e historical estimate as current mineral resources.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:12.0p
--->t;text-align:justify'><span lang=EN-CA style='font-family:"Arial","sans-serif"'>To know more about Abcourt Mines Inc.
--->(TSXV: ABI), please visit our web site at <span style='color:blue'>www.abcourt.com </span>and consult our filings unde
--->r Abcourt's profile on <a href="http://www.sedar.com/"><span style='font-family:"Calibri","sans-serif";color:black'>ww
--->w.sedar.com</span></a>.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:12.0pt;text-align:justify'><span
--->lang=EN-CA style='font-family:"Arial","sans-serif"'>This press release was prepared by Mr. Renaud Hinse, Engineer and
--->President of Abcourt Mines Inc.{� �} Mr. Hinse is a "Qualified Person" under the terms of Regulation 43-101.<o:
--->p></o:p></span></p><p class=MsoNormal><b><span lang=EN-CA style='font-family:"Arial","sans-serif";color:black'><o:p>&n
--->bsp;</o:p></span></b></p><p class=MsoNormal><b><span lang=EN-CA style='font-family:"Arial","sans-serif";color:black'>F
--->orward-Looking Statements<o:p></o:p></span></b></p><p class=MsoNormal><span lang=EN-CA style='font-family:"Arial","san
--->s-serif";color:black'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-CA style
--->='font-family:"Arial","sans-serif";color:black'>This news release contains forward-looking statements that include ris
--->ks and uncertainties. When used in this news release, the words "estimate", "project", "antic
--->ipate", "expect", "intend", "believe", "hope", "may" and simila
--->r expressions, as well as "will", "shall" and other indications of future tense, are intended to i
--->dentify forward-looking statements. The forward-looking statements are based on current expectations and apply only as
---> of the date on which they were made. Except as may be required by law, the Corporation undertakes no obligation and d
--->isclaims any responsibility to publicly update or revise any forward-looking statements or information, whether as a r
--->esult of new information, future events or otherwise.<o:p></o:p></span></p><p class=MsoNormal style='text-align:justif
--->y'><span lang=EN-CA style='font-family:"Arial","sans-serif";color:black'><o:p> </o:p></span></p><p class=MsoNorma
--->l style='text-align:justify'><span lang=EN-CA style='font-family:"Arial","sans-serif";color:black'>The factors that co
--->uld cause actual results to differ materially from those indicated in such forward-looking statements include changes
--->in the prevailing price of gold, the Canadian-United States exchange rate, grade of ore mined and unforeseen difficult
--->ies in mining operations that could affect revenue and production costs. Other factors such as uncertainties regarding
---> government regulations could also affect the results. Other risks may be set out in Abcourt' annual and periodic repo
--->rts. The forward-looking information contained herein is made as of the date of this news release.<o:p></o:p></span></
--->p><p class=MsoNormal><span lang=EN-CA style='font-family:"Arial","sans-serif";color:black'><o:p> </o:p></span></p
--->><p class=MsoNormal><span lang=EN-CA style='font-family:"Arial","sans-serif";color:black'>For more information, please
---> contact: <o:p></o:p></span></p><p class=MsoNormal><b><span lang=EN-CA style='font-family:"Arial","sans-serif";color:b
--->lack'><o:p> </o:p></span></b></p><p class=MsoNormal><b><span lang=EN-CA style='font-family:"Arial","sans-serif";c
--->olor:black'>Renaud Hinse, President and CEO </span></b><span lang=EN-CA style='font-family:"Arial","sans-serif";color:
--->black'><o:p></o:p></span></p><p class=MsoNormal><b><span lang=EN-CA style='font-family:"Arial","sans-serif";color:blac
--->k'>T</span></b><span lang=EN-CA style='font-family:"Arial","sans-serif";color:black'>: 819 768-2857 450 446-5511 <o:p>
---></o:p></span></p><p class=MsoNormal><b><span lang=EN-CA style='font-family:"Arial","sans-serif";color:black'>F</span><
--->/b><span lang=EN-CA style='font-family:"Arial","sans-serif";color:black'>: 819 768-5475 450 446-3550 <o:p></o:p></span
--->></p><p class=MsoNormal><span lang=EN-CA style='font-family:"Arial","sans-serif";color:black'>Email : </span><span lan
--->g=EN-CA style='font-family:"Arial","sans-serif";color:blue'>rhinse@abcourt.com <o:p></o:p></span></p><p class=MsoNorma
--->l align=center style='margin-bottom:12.0pt;text-align:center'><i><span lang=EN-CA style='font-family:"Arial","sans-ser
--->if"'><o:p> </o:p></span></i></p><p class=MsoNormal align=center style='margin-bottom:12.0pt;text-align:center'><i
--->><span lang=EN-CA style='font-family:"Arial","sans-serif"'>Neither TSX Venture Exchange nor its Regulation Services Pr
--->ovider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy o
--->r accuracy of this release.</span></i><span lang=EN-CA style='font-family:"Arial","sans-serif"'><o:p></o:p></span></p>
---><p class=MsoNormal><span lang=EN-CA style='font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoN
--->ormal><span lang=EN-CA style='font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal><b><spa
--->n style='font-family:"Monotype Corsiva";mso-fareast-language:FR-CA'>Marcelle Charland, administrative assistant<o:p></
--->o:p></span></b></p><p class=MsoNormal><span style='mso-fareast-language:FR-CA'>475, de l'Eglise, PO Box 459<o:p></o:p>
---></span></p><p class=MsoNormal><span style='mso-fareast-language:FR-CA'>Rouyn-Noranda, QC, J0Z 1Y0<o:p></o:p></span></p
--->><p class=MsoNormal><span style='mso-fareast-language:FR-CA'><a href="mailto:mcharland@abcourt.com"><span style='color
--->:blue'>mcharland@abcourt.com</span></a><o:p></o:p></span></p><p class=MsoNormal><span style='mso-fareast-language:FR-C
--->A'>Tel. : (819) 768-2857<o:p></o:p></span></p><p class=MsoNormal><span style='mso-fareast-language:FR-CA'>Fax&nbs
--->p;: (819) 768-5475<o:p></o:p></span></p><p class=MsoNormal><span style='mso-fareast-language:FR-CA'><img border=0 widt
--->h=177 height=89 id="Image_x0020_1" src="cid:image007.png@01D26699.D3075BF0"><o:p></o:p></span></p><p class=MsoNormal><
--->o:p> </o:p></p></div></body></html>
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