Mr. Pascal Hamelin reports

ABCOURT EXERCISES OPTION TO BUY-BACK 0.5% NSR ROYALTY AND INCREASES LOAN FINANCING WITH NEBARI

Abcourt Mines Inc. has exercised its option to reduce from 2.0 per cent to 1.5 per cent the net smelter return royalty on all metallic and non-metallic minerals mined or otherwise recovered on each of the Sleeping Giant and Dormex properties (the royalty) granted to Maverix Metals Inc. in accordance with the terms of a net smelter return royalty agreement entered into between the corporation and Maverix on Sept. 22, 2022.

The royalty rate was reduced by 0.5 per cent in consideration for a payment $2-million (U.S.) in cash (the first option). In accordance with the terms of the royalty agreement, Abcourt may, at any time prior to Sept. 22, 2028, elect to further reduce the royalty rate by another 0.5 per cent upon payment of an amount of $4-million (U.S.) to the holder of the royalty, thereby reducing the rate of the royalty to 1.0 per cent.

Abcourt also announces that it has entered into a second agreement to amend its 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. The proceeds of the upsized loan are being used for the exercise of the first option. No other material changes have been made to the loan agreement between the corporation and Nebari.

Pursuant to the upsized loan, the aggregate amount borrowed from the lender is $12-million (U.S.), in three tranches of: (i) $8-million (U.S.) on July 3, 2025 (Tranche 1); (ii) $2-million (U.S.) on Sept. 10, 2025 (Tranche 2); and (iii) $2-million (U.S.) on the date hereof (Tranche 3). Please see Abcourt's news releases dated July 3, 2025, and Sept. 10, 2025, for further details regarding the loan agreement.

In connection with the closing of the upsized loan, the corporation will issue 14,395,259 non-transferable warrants to the lender, each exercisable for one common share of the corporation at an exercise price of 9.6 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.

Pascal Hamelin, president and chief executive officer of Abcourt, commented: "We believe that reducing the NSR at Sleeping Giant mine will be perfect for the long-term plan of Abcourt. Over the next few years, it's important for us to unlock the full potential of Sleeping Giant mine."

Steven Bowles, managing director of the lender, commented, "Nebari is pleased to provide further support to Abcourt in its ramp-up of its Sleeping Giant mine and to assist its shareholders in unlocking more value from this project during this strong gold price environment."

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.

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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