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Abcourt Mines Inc. ("Abcourt" or the "Corporation") (TSX Venture: ABI) (OTCQB : ABMBF) announces its financial results for the second quarter ended December 31, 2025. All monetary values in this press release are expressed in Canadian dollars, unless otherwise indicated. Financial statements and management discussion and analysis are available on SEDAR+.
Summary of financial results
| (In dollars) | Three months ended December 31, | Six months ended December 31, | ||||||
| 2025 | 2024 | 2025 | 2024 | |||||
| Revenues | 4,889,149 | – | 4,889,149 | – | ||||
| Costs of sales | 5,312,911 | – | 11,452,215 | – | ||||
| Tax credit resources | (902,000 | ) | – | (2,031,518 | ) | – | ||
| Profit (loss) from mining operations | 478,238 | – | (4,531,548 | ) | – | |||
| Administration expenses | 760,871 | 654,908 | 2,177,729 | 1,430,665 | ||||
| Care and maintenance expenses | 221,626 | 1,163,598 | 250,914 | 2,051,031 | ||||
| Exploration and evaluation expenses | 101,678 | 593,593 | 351,746 | 1,094,753 | ||||
| Finance costs | 1,271,116 | (421,037 | ) | 2,238,259 | (284,532 | ) | ||
| Net loss and comprehensive loss | (1,140,348 | ) | (2,450,467 | ) | (8,659,953 | ) | (4,290,368 | ) |
| Basic and diluted net loss per share | (0.00 | ) | (0.00 | ) | (0.01 | ) | (0.01 | ) |
| (In dollars) | December 31, 2025 | June 30, 2025 | ||
| Cash | 2,026,439 | 2,578,587 | ||
| Total assets | 38,941,747 | 21,408,153 | ||
| Non-current liabilities | 28,361,492 | 14,175,891 | ||
| Shareholders' equity | 2,639,792 | (599,534 | ) | |
| Working capital (non-IFRS measurement) * | 8,345,038 | 2,952,725 | ||
| * Working capital is a non-IFRS measurement with no standardized meaning under IFRS. For further information, please see section "Non-IFRS Measure". | ||||
- During the quarter, Abcourt continued the development of mining operations at Sleeping Giant. Several expenses were incurred, including the development and rehabilitation of existing galleries to access production sites, the maintenance of facilities and equipment, and the hiring of personnel.
- Abcourt has completed the filing of the gold in circuit at the mill.
- On October 31, the Corporation announced a private placement for gross proceeds of $10 million.
- On December 22, 2025, the Company entered into a summary of binding terms with Glencore AG for senior debt financing of up to $30 million in principal and a production purchase agreement. The definitive agreements closed on January 30, 2026
Pascal Hamelin, President and CEO of Abcourt Mines, stated: "The continued development of the Sleeping Giant mine is progressing well, as demonstrated by the profit from mining operations generated during the quarter ended December 31, 2025. Various rehabilitation and development projects are ongoing and will increase the production rate in the coming months, paving the way for eventual commercial production."
Non-IFRS Measure
This press release presents working capital as a performance measure which is non-International Financial Reporting Standards (IFRS) performance measure. The Corporation believes that this measure provides investors with an improved ability to evaluate the performance of the Corporation. Non-IFRS measures do not have any standardized meaning prescribed under IFRS. Therefore, such measures may not be comparable to similar measures employed by other companies. This data may not be comparable to data presented by other companies. Non-GAAP financial performance measures should be considered together with other data prepared in accordance with IFRS.
The Corporation determines working capital as follows: current assets less current liabilities.
About Abcourt Mines Inc.
Abcourt Mines Inc. is a Canadian gold development company with properties strategically located in northwestern Québec, Canada. Abcourt owns the Sleeping Giant Mine and Mill, as well as the Flordin property, where it focuses its development activities.
For more information about Abcourt Mines Inc., please visit our website at www.abcourt.ca and view our filings under Abcourt's profile on www.sedarplus.ca
| Pascal Hamelin | Dany Cénac Robert |
| President and CEO | Vice-President, Communications and Corporate Development |
| T : (819) 768-2857 | T : (514) 722-2276, poste 456 |
| Email: phamelin@abcourt.com | Email : ir@abcourt.com |
FORWARD-LOOKING STATEMENTS
Certain information contained in this news release may constitute "forward-looking information" within the meaning of Canadian securities legislation. Generally, forward-looking information can be identified by using forward-looking terminology, such as "plans", "aims", "expects", "projects", "intends", "anticipates", "estimates", "could", "should", "likely", or variations of such words and phrases or statements specifying that certain acts, events or results "may", "should", "will" or "be achieved" or other similar expressions. Forward-looking statements, including the expectation of the Corporation with respect to the availability, timing and terms of advances under the Debenture; the anticipated use of proceeds of the Debenture, including the repayment of existing indebtedness; the Corporation's ability to advance and increase drilling and development activities at the Flordin-Cartwright and Sleeping Giant properties; and the receipt of the final approval of the TSXV, are based on Abcourt's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause Abcourt's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements or information. Forward-looking statements are subject to business and economic uncertainties and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risk factors set forth in Abcourt's public filings, which are available on SEDAR+ at www.sedarplus.ca. There can be no assurance that these statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Although Abcourt believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on such statements. Except as required by applicable securities laws, Abcourt disclaims any intention or obligation to update or revise any such forward-looking statements or information, whether as a result of new information, future events or otherwise.
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 release.
