Mr. Pascal Hamelin reports

ABCOURT ANNOUNCES A NON-BROKERED PRIVATE PLACEMENT FOR UP TO $3.0 MILLION TO ADVANCE THE SLEEPING GIANT PROJECT

Abcourt Mines Inc. proposes to complete a non-brokered private placement to raise gross proceeds of up to $3-million. The offering will consist of up to 54,545,455 units of the corporation at a price of 5.5 cents per unit. Each unit will consist of one common share of the corporation and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at a price of 10 cents for a period of 36 months following the closing date of the offering.

It is expected that the net proceeds from the offering will be primarily used to advance activities for development and exploration at the Sleeping Giant gold project in the Abitibi greenstone belt of Quebec and for working capital and general corporate purposes.

All securities issued in connection with the offering will be subject to a restricted period ending on the date that is four months plus one day following the date of their issuance, in accordance with Canadian securities laws.

Closing of the offering is expected to take place on or around June 27, 2023, and remains subject to certain conditions, including receipt of the approval of the TSX Venture Exchange.

About Abcourt Mines Inc.

Abcourt Mines is a Canadian exploration corporation with strategically located properties in northwestern Quebec, Canada. Abcourt owns the Sleeping Giant mill and mine where it concentrates its activities.

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