Mr. Pascal Hamelin reports

ABCOURT ANNOUNCES INCREASE TO LOAN FINANCING WITH NEBARI TO ACCELERATE SLEEPING GIANT MINE DEVELOPMENT

Abcourt Mines Inc. has entered into an amended credit agreement with Nebari Natural Resources Credit Fund II LP, pursuant to which an additional $2-million (U.S.) is made available as a loan to the corporation.

Pursuant to the upsized loan, the aggregate amount borrowed from the lender is $10-million, in two tranches of: (i) $8-million (U.S.) on July 3, 2025 (tranche 1); and (ii) $2-million (U.S.) on the date hereof. Other than the addition of tranche 2, no other material changes have been made to the original loan agreement between the corporation and Nebari. Please see Abcourt's news release dated July 3, 2025, for further details regarding the original loan agreement and tranche 1.

Abcourt expects to use the proceeds from the upsized loan to accelerate the development of its Sleeping Giant mine. In the coming months, this will involve adding a third underground diamond drill to increase the expansion of the mineral resources at Sleeping Giant and accelerating phase 2 at the sleep camp.

Pascal Hamelin, president and chief executive officer of Abcourt, commented: "The partnership with Nebari is great. We're aligned in the successful development of the Sleeping Giant mine and talking with mining knowledgeable individuals who understand the opportunities within our business are important. They immediately saw that by increasing the number of workers sleeping on site will reduce the transportation and offsite lodging cost, as well as accelerating the development underground. "

Steven Bowles, managing director of the lender, commented: "Nebari is pleased to upsize our loan to Abcourt in support of advancing the development of its Sleeping Giant mine. The team has an operational readiness plan, which positions the project well to achieve its ramp-up objectives in a very favourable gold price environment."

In connection with the closing of the upsized loan, the corporation issued 14,905,298 non-transferable warrants to the lender. Each warrant is exercisable for one common share of the corporation at an exercise price of 9.3 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 upsized loan and the issuance of the warrants are subject to the approval of the TSX-V. The warrants (and the warrant shares issuable upon the exercise thereof) are subject to a statutory hold period of four months and one day under applicable securities laws. The lender is at arm's-length to the corporation.

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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