Abcourt Processes the First Tonnes of Mineralized Material in Its Mill at the Sleeping Giant Mine

ROUYN-NORANDA, Quebec, Nov. 22, 2023 (GLOBE NEWSWIRE) — Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) is pleased to announce the start-up of the Sleeping Giant Mill. The first tonnes from the Pershing-Manitou deposit began to be processed on Tuesday, November 21. On September 14, Abcourt began the restart work at the Sleeping Giant Mill to process material from the Pershing-Manitou project.

Abcourt begins the processing with the bulk sampling of 5,000 tonnes of material from the Pershing-Manitou deposit. This sample was extracted from the mineral resources of the Pershing-Manitou deposit. During the processing campaign for the 5,000 tonnes of Pershing-Manitou, an independent firm specialized in metallurgy will supervise the milling campaign and reconcile the milled grades with the grades of the extracted mineral resources. Abcourt plans to process between 600 and 800 tonnes per week initially, and gradually increase the weekly tonnage. Subsequently, Abcourt will process 400 tonnes of ore remaining in the surface silo of the Elder mine in order to clean and evacuate the potentially high-grade material from the Pershing-Manitou deposit out of the grinding circuit.

Finally, Abcourt will begin processing material coming directly from the Sleeping Giant mine after processing the 400 tonnes from the Elder mine. During the coming months, Abcourt’s objective is to carry out definition and exploration drilling to prepare an updated mineral resources estimate, and subsequently, complete an economic pre-feasibility study (PFS). While we advance preparations for the PFS, Abcourt will feed the mill with mineralized material from the 4 upper levels of the underground mine.

QUALIFIEDS PERSONS

Mr. Pascal Hamelin, ing, President and Chief Executive Officer of Abcourt, has verified and approved the technical information contained in this press release.

ABOUT ABCOURT MINES INC.

Abcourt Mines Inc. is a Canadian gold exploration company with properties strategically located in northwestern Quebec, Canada. Abcourt 100% owns the Sleeping Giant mill and mine where it concentrates its activities. The Sleeping Giant mine has a mining lease, as well as environmental certificates of authorization to extract up to 750 tonnes per day from its underground mine.

For further information, please visit our website at www.abcourt.ca and consult our filings under Abcourt’s profile on www.sedarplus.ca, or contact:


Cautionary Statement on Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Such forward-looking information includes, but is not limited to, statements concerning the timing, review, completion and filing of the Required Documents as well as the duration of the MCTO. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation’s public documents filed on SEDAR+ at www.sedarplus.ca. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.


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