Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI)is pleased to announce that it has filed the Mineral Resources Estimate (MRE) technical report in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“) on its 100% owned Sleeping Giant Mine. The technical report entitled “NI 43-101 Technical Report and Mineral Resource Estimate for the Sleeping Giant Mine, Quebec, Canada” and dated January 25, 2023 (with an effective date of December 12, 2022) has been prepared for Abcourt by the firm InnovExplo from Val-d’Or. The technical report is available on SEDAR (www.sedar.com) under Abcourt’s issuer profile.

The Abcourt’s news release dated December 13, 2022 (entitled “Abcourt Announces Mineral Resource Update at the Sleeping Giant Mine”) summarized certain key results, assumptions and estimates contained in the Technical Report filed today.

Qualified Persons

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

ABOUT ABCOURT MINES INC.

Abcourt Mines Inc. is an emerging gold producer and a Canadian exploration corporation with strategically located properties in northwestern Québec, Canada. Abcourt owns the Sleeping Giant mill and mine where it concentrates its activities.

For further information, please visit our website at www.abcourt.com, and consult our filings under Abcourt's profile on www.sedar.com, or contact:

FORWARD-LOOKING INFORMATION

Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “seeks”, “expects”, “estimates”, “intends”, “anticipates”, “believes”, “could”, “might”, “likely” or variations of such words, or statements that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “will be taken”, “occur”, “be achieved” or other similar expressions. Forward-looking statements, including the expectations of Abcourt’s management regarding the completion of the Transaction, are based on Abcourt’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Abcourt to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Forward-looking statements are subject to business and economic factors and uncertainties, and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risks factors set out in Abcourt’s public documents, available on SEDAR at www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Although Abcourt believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements and forward-looking information. Except where required by applicable law, Abcourt disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

The TSX Venture Exchange and its regulatory service provider (as defined in the policies of the TSX Venture Exchange) assume no responsibility for the adequacy or accuracy of this press release.

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