Mr. Pascal Hamelin reports

ABCOURT PROVIDES UPDATE ON MANAGEMENT CEASE TRADE ORDER

Abcourt Mines Inc. has provided an update with respect to the previously announced management cease trade order (MCTO) issued by the corporation's principal regulator, the Autorite des marches financiers (Quebec) (AMF), on Nov. 1, 2023.

The MCTO was issued in connection with the delay by the corporation to file its audited consolidated financial statements, and its management's discussion and analysis, as well as the chief executive officer and chief financial officer certificates for the year ended June 30, 2023 (the required documents), before the prescribed deadline of Oct. 30, 2023.

The corporation's board of directors and management confirm that they are working expeditiously to file the required documents as soon as they are available, on or about Nov. 17, 2023. As previously announced, pursuant to the MCTO, the CEO, the CFO and all the directors of the corporation may not trade in securities of the corporation until such time as the corporation files the required documents and the AMF revokes the MCTO. The MCTO does not affect the ability of shareholders to trade their securities.

The corporation is providing this default status report in accordance with Policy Statement 12-203 -- Respecting Management Cease Trade Orders (PS 12-203). Until such time as the corporation files the required documents and the MCTO has been revoked, the corporation intends to follow the provisions of the alternative information guidelines set out in PS 12-203, including the issuance of biweekly default status reports in the form of news releases.

Pursuant to the provisions of the alternative information guidelines specified in PS 12-203, the corporation confirms that, as of the date of this news release: (a) there have been no material changes to the information contained in the default announcement issued on Oct. 27, 2023, that would reasonably be expected to be material to an investor; (b) there have been no failures by the corporation to fulfill its stated intentions with respect to satisfying the provisions of the alternative reporting guidelines under PS 12-203; (c) there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the default announcement; and (d) there is no other material information concerning the affairs of the corporation that has not been generally disclosed.

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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