Mr. Pascal Hamelin reports

ABCOURT CLOSES US$ 8M LOAN FACILITY TO START SLEEPING GIANT MINE

Abcourt Mines Inc. has closed its previously announced secured financing facility with Nebari Natural Resources Credit Fund II LP in an amount of $8-million (U.S.) for a 36-months period.

Pascal Hamelin, president and chief executive officer of Abcourt, commented: "Closing this transaction with Nebari is a major step toward starting production at the Sleeping Giant mine. This investment of $8-million (U.S.) of non-dilutive capital offers us solid operational flexibility going forward and allows the company to develop the Sleeping Giant mine toward a commercial production status. I would like to thank Nebari for working with us to realize the opportunity in this high-grade gold mine. With this credit facility in place, Abcourt is well funded to start the Sleeping Giant mine."

Steven Bowles, managing director of the lender, commented: "Nebari is pleased to partner with Abcourt Mines as it restarts its Sleeping Giant mine. The depth of experience and level of preparedness of the Abcourt and Sleeping Giant teams give us the utmost confidence in their ability to bring the operation to its full potential and beyond."

In accordance with the terms of the comprehensive credit agreement entered into between the corporation and the lender, interest will accrue on the principal amount based on a floating rate per annum equal to the sum of: (i) the three-month term SOFR (secured overnight financing rate), as determined on the first date of each calendar month; and (ii) 12 per cent per annum, provided that, if the term SOFR is less than 4 per cent, it shall be deemed to be 4 per cent.

The financing facility may be repaid prior to maturity after the first year, subject to a minimum prepayment amount of $1-million (U.S.) and the payment of a make-whole payment to provide the lender with a 25-per-cent absolute return on the principal amount prepaid.

The corporation issued 87.04 million non-transferable warrants to the lender. Each warrant is exercisable for one common share of the corporation at an exercise price of 6.25 cents per warrant share until July 3, 2028, subject to a pro rata reduction if the principal amount is prepaid in whole or in part before July 3, 2026. In such case, a pro rata number of warrants will have their term reduced to the later of July 3, 2026, and 30 days from the date of such principal amount reduction or repayment, in accordance with the policies of the TSX Venture Exchange. The warrants remain subject to the final approval of the TSX-V.

The corporation also paid the lender an arrangement fee in the amount of $120,000 (U.S.) and, beginning the first full month after the closing date, will pay a monthly administration fee of $2,500 (U.S.) until all amounts owed under the financing facility have been paid in full.

The corporation has entered into security arrangements with the lender to register a first-priority senior security, subject to certain permitted liens, on the universality of the corporation's movable and immovable property, corporeal and incorporeal, present and future, of any nature whatsoever and wheresoever situated, including real property interests, mining rights, inventory and equipment.

With this financing facility in place, Abcourt will start the significant items needed to start producing gold in at the Sleeping Giant mine and mill, which, in the coming months, include:

• Build a sleep camp and kitchen at the mine site to lodge the workers;
• Continue the work in the tailing facilities to store the pulps for the coming years;
• Begin production in the upper level of the mine;
• Develop lower levels of mine to open new mining fronts.

The financing facility was previously announced on April 10, 2025, June 18, 2025, and June 26, 2025.

Finders' fees in an amount representing 1 per cent of the principal amount are payable in cash to an arm's-length third party in connection with the financing facility.

All securities issued in connection with the financing facility are subject to a restricted period under applicable securities laws, ending on the date that is four months plus one day following the closing date.

About Abcourt Mines Inc.

Abcourt is a Canadian development company with properties strategically located in northwestern Quebec, Canada. Abcourt owns the Sleeping Giant mine and mill, as well as the Flordin property, where it focuses its development activities.

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