Mr. Pascal Hamelin reports

ABCOURT OBTAINS ITS ENVIRONMENTAL CERTIFICATE OF AUTHORIZATION FOR CUSTOM MILLING AT THE SLEEPING GIANT MILL

Abcourt Mines Inc. has received its environmental certificate of authorization for custom milling of ore from off-site deposits at its Sleeping Giant mill.

This certificate of authorization allows Abcourt to begin commercial discussions with potential clients, accelerate the environmental authorization process and begin processing gold ore from mining companies that do not have a mill to extract gold from their ore. Building an ore processing complex to extract gold and store the pulp is a process that can takes several years and can costs several hundred million dollars. For many gold development companies, negotiating custom milling may be a faster and more cost-effective option.

According to the company's preliminary economic assessment for the Sleeping Giant mine published June 7, 2023, the Sleeping Giant mill will use less than 40 per cent of its capacity to process ore from the Sleeping Giant mine. The mill permitted daily throughput is 950 tonnes per day, and the average planned throughput is 340 tonnes per day in the PEA. In the long term, Abcourt's objective is to define additional mineral resources at the Sleeping Giant mine to maximize the use of its mill with ore from internal sources. In the short term, Abcourt will have the opportunity to process ore from other sites and thus benefit from additional revenue sources in addition to executing its business plan with production from Sleeping Giant.

Pascal Hamelin, president and chief executive officer, stated: "The Abitibi and Eeyou Istchee regions are rich in gold deposits that are too small to justify the initial investment of building a gold processing complex. Abcourt now offers an attractive alternative to accelerate the development of these deposits. In addition, this type of custom milling allows us to maximize the use of our mill, increase our revenue and the value of our asset, and finally allow us to evaluate the potential synergies with other deposits around us."

Qualified person

Pascal Hamelin, Eng, president and chief executive officer of the corporation, has verified and approved the technical information contained in this press release.

Mr. Hamelin is a qualified person under Regulation 43-101.

About Abcourt Mines Inc.

Abcourt Mines is a Canadian gold company developing the Sleeping Giant mine and in exploration for its other properties strategically located in northwestern Quebec, Canada. Abcourt owns the 100-per-cent-owned Sleeping Giant mine and mill and the Flordin exploration property, where it focuses its operations.

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