Mr. Pascal Hamelin reports

ABCOURT ANNOUNCES PROPOSED US$10M INCREASE TO DEBENTURE FINANCING WITH GLENCORE

Abcourt Mines Inc. has entered into a non-binding term sheet with Glencore AG (the lender) that will, once the transaction is completed, increase the aggregate principal amount of the senior secured debenture announced on Jan. 30, 2026, from $30-million (U.S.) to $40-million (U.S.).

A first tranche of $18,125,000 (U.S.) was made available to Abcourt on Jan. 30, 2026. Under the upsized debenture, the second tranche has been increased from $11,875,000 (U.S.) to $21,875,000 (U.S.) and its disbursement date has been accelerated from December, 2026, or January, 2027, to on or about Aug. 12, 2026.

No other material changes are proposed to the original senior secured debenture. Please see Abcourt's news release dated Jan. 30, 2026, for further details.

Abcourt intends to use the proceeds from the upsized debenture to (i) repay a $12-million (U.S.) secured credit facility with Nebari Natural Resources Credit Fund II LP, (ii) finance exploration work and capital expenditures at its Sleeping Giant and Flordin projects, and (iii) provide additional working capital.

Pascal Hamelin, president and chief executive officer of Abcourt, commented: "This increased support from Glencore confirms the value of our assets and secures our growth trajectory. By converting short-term debt into long-term liabilities, we optimize our financial structure with a significantly lower interest rate and an extended amortization period. This increased financial flexibility immediately frees up essential capital to support the sustained pace of our development at the Sleeping Giant mine. Accelerating this financing allows us to propel our exploration efforts and advance the development of our key projects: Sleeping Giant and Flordin. Abcourt now has a solid financial foundation to unlock the full value of its properties in Abitibi and generate sustainable returns for its shareholders."

In connection with the closing of the upsized debenture, the corporation will issue 46,943,333 non-transferable warrants to the lender. Each warrant will be exercisable for one common share of the corporation at an exercise price of 12 cents per warrant share.

The upsized debenture and the issuance of the warrants are subject to the approval of the TSX Venture Exchange. The lender is at arm's length to the corporation.

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, as well as the Flordin property, where it focuses its activities.

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