Mr. Pascal Hamelin reports

ABCOURT ACCEPTS $5.8M FINANCING OFFER FROM INVESTISSEMENT QUÉBEC

Abcourt Mines Inc. has accepted loan offers totalling $5.8-million in principal from Investissement Quebec, as an agent of the government of Quebec, consisting of a bridge loan of up to $1.3-million to finance tax credits related to resources for the fiscal year ending June 30, 2025 (loan No. 1), and a second bridge loan of up to $4.5-million to finance tax credits related to resources for the fiscal year ending June 30, 2026 (loan No. 2, and together with loan No. 1, the loans).

Pascal Hamelin, president and chief executive officer of Abcourt, commented: "We are very pleased to have Investissement Quebec as a financial partner in the development of the Sleeping Giant project. This partnership provides significant support to Abcourt during this important phase of the project's development towards commercial production."

The loans will bear interest at an annual rate equal to the prime rate plus 2.55 per cent, up to Dec. 31, 2026, for loan No. 1, and up to Dec. 31, 2027, for loan No. 2. The loans will be secured by a first-ranking security on refundable tax credits and an irrevocable support letter of credit representing 10 per cent of the loans. The loans will be disbursed upon the execution of the definitive agreements related to the loans and the security.

About Abcourt Mines Inc.

Abcourt Mines 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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