Mr. Pascal Hamelin reports

ABCOURT LAUNCHES A DRILLING CAMPAIGN AT THE POLYMETALLIC SITE OF THE FORMER BARVUE MINE, BARRAUTE SECTOR IN ABITIBI-TÉMISCAMINGUE

Abcourt Mines Inc. has launched a new drilling campaign of approximately 2,000 metres at the site of the former Barvue silver and zinc mine, located in the Barraute sector of Abitibi-Temiscamingue.

The work, which will begin during the first week of June, is directly aligned with the company's corporate strategy to enhance its premier silver assets following the recent dramatic increase in metal prices.

Drilling objectives: targeting unexplored deeper potential

Past exploration work, as well as former open-pit and underground operations, never exceeded a vertical depth of 200 metres. Volcanogenic massive sulphide (VMS) deposits in Quebec are buried at varying depths. While some deposits outcrop near the surface, they often extend deep underground.

Geologically, we can compare the former Barvue mine to the Matagami zinc deposit; in this sense, the famous Key Tuffite is possibly the equivalent of the Grey Tuff found in descriptions of the geological units present at the Barvue mine. Note that the main zinc-copper-silver mines of the Matagami camp, such as Isle-Dieu, Bell-Allard South, Bracemac-McLeod, Perseverance and Norita, are found at depths ranging from the surface to more than 1,200 metres deep.

The current campaign will consist of four drill holes of approximately 500 metres each. They will specifically aim to test silver-rich plunge extensions beneath the old pit, where mineralized axes of interest converge. This is the very first time these high-value targets will be tested at this depth.

A rich history of production

Historical production at the Abcourt-Barvue mine (located near Barraute, Abitibi) totals more than 5.6 million tonnes of ore extracted during two distinct periods:

• Open-pit period (1952 to 1957): approximately 5.0 million tonnes were extracted with a grade of 38.74 grams per tonne silver and 2.98 per cent zinc;
• Underground period (1986 to 1990): nearly 632,000 tonnes were extracted by Abcourt Mines with a grade of 131.65 g/t silver and 5.04 per cent zinc.

Combined total historical production:

• Processed ore: approximately 5,634,500 tonnes;
• Zinc: approximately 320 million pounds;
• Silver: approximately 6.7 million ounces.

Historical data: a major deposit (National Instrument 43-101 resources)

The last economic scoping study conducted by P. Bonneville and F. Baril in 2019 already highlighted the robustness of the asset. The attached table compiles the historical resource assessment of the Barvue deposit.

Project players

The Barvue project benefits from a premier strategic alliance and world-class scientific technical expertise:

• An international partner: The campaign is partially financed by a loan granted on Jan. 30, 2026, by Glencore, one of the world's leading companies in the mining and commodities trading industries. Glencore will also provide major support through their recognized technical expertise.
• Renowned technical management (Dr. Mathieu Piche): The interpretation, planning and execution of the work are entrusted to Dr. Piche, PhD in geology, who has been with Abcourt for four years. A world-renowned specialist in volcanogenic massive sulphide (VMS) deposits, Dr. Piche has over 40 years of experience in mineral exploration.
  • Dr. Piche dedicated his doctoral thesis to the study of Matagami massive sulphide deposits in Quebec, redefining the geological models that guided modern exploration waves in the sector. Furthermore, he is the designer and developer of the Normat geochemical exploration software, an avant-garde mathematical and geological tool used industry wide to accurately identify hydrothermal alteration signatures associated with deep VMS deposits.

At a glance:

• 2,000 metres campaign targeting unexplored silver-rich zones under the former pit;
• Partnership with Glencore;
• Major economic leverage: historical study was based on silver at $16.50 (U.S.)/ounce, compared with over $70 (U.S.)/oz today;
• Project leaders with globally recognized expertise.

Market focus: critical minerals at the heart of North American geopolitical priorities

Zinc and silver are no longer just industrial commodities. They are now officially classified as critical and strategic minerals (CSM). As such, they are at the center of economic and national security priorities for the governments of Quebec, Canada and the United States.

These three administrations are currently deploying massive efforts and subsidies to secure reliable local supply chains in North America, aiming to reduce strategic dependence on Asian markets.

• Zinc: Identified by government strategic plans as a top-tier metal for the green transition (decarbonized infrastructure, wind farms) and for the emergence of large-scale energy storage technologies.
• Silver: The most efficient electrical conductor on the planet. It is classified as an essential critical material by high-tech industries due to its mandatory and non-substitutable presence in solar photovoltaic panels, defence electronics, aerospace and high performance components for electric vehicles.

The attached tables illustrate the upward trajectory of these two metals over the last three years.

Pascal Hamelin, president and chief executive officer, commented: "With the recent rise in the price of silver, the company has decided to unlock the value of the volcanogenic massive sulphide projects within its own property portfolio. We possess the internal expertise to successfully conduct exploration on our base metal projects, thanks to the presence of Dr. Mathieu Piche in our exploration department. In Mathieu, we can rely on the experience and competence of one of the best geologists in Canada for VMS exploration. This upcoming drilling campaign will mark the rebirth of a former silver-producing mining camp in the Abitibi."

Qualified person

Robert Gagnon, PGeo, vice-president of exploration of the company, and Dr. Piche, PGeo, have reviewed and approved the technical information contained in this press release.

About Abcourt Mines Inc.

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

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