The Conversation (0)
Abcourt Mines Inc. ("Abcourt" or the "Corporation") (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to provide an update on development work completed in the quarter ended March 31st, 2026, at the Sleeping Giant Mine, located in the Eeyou Istchee region of Quebec.
In March, Abcourt continued hiring and training miners. Nine new employees joined the Abcourt team, bringing the total to 143 employees. The plan is to bring the total workforce to 190 employees in the coming months.
Operation Highlights
| Â | Q1 2025/09/30 | Q2 2025/12/31 | Q3 2026/03/31 | YTD |
| Diamond Drilling (m) | 6,467 | 4,572 | 7,153 | 18,192 |
| Underground Rehabilitation (m) | 1,703 | 903 | 455 | 3,061 |
| Underground Development (m) | 71 | 290 | 307 | 669 |
| Tonnes Milled (tonnes) | 3,511 | 5,652 | 7,445 | 16,608 |
| Mill Head Grade (g/t) | 5.9 | 6.2 | 5.2 | 5.7 |
| Ounces Milled (oz) | 664 | 1,125 | 1,250 | 3,039 |
| % Recovered | 94.9% | 96.1% | 95.8% | 95.7% |
| Ounces Produced (oz) | 630 | 1,081 | 1,197 | 2,908 |
| Ounces Poured (oz) | 26 | 837 | 1,138 | 2,001 |
The gold inventory in the circuit on March 31 was 907 ounces.
The development of the drifts leading to the next long-hole stopes remains the Company's priority. The first long-hole drill will be commissioned underground during the month of April and Abcourt anticipates the start of the first long-hole stopes in early summer 2026. Â
Figure 1: Long-Hole Drill, Back View
Figure 2: Long-Hole Drill, Front View
The work at the mining camp continued in March with the addition of a 37-room block, on top of the existing 50 rooms. This second phase in the mining camp construction was commissioned April 13th. The construction of the third block of rooms in the mining camp is scheduled to begin in early summer.
Pascal Hamelin, President and CEO, stated: "With the long-hole drilling beginning in the coming weeks, we expect to increase our tonnage by an additional 1,500 tonnes per month average per long-hole stope. Ultimately, we plan to have three long-hole stopes in operation at the same time while developing the next stopes. Also, I wish to congratulate the construction team at the mining camp for the safe execution of the second phase. It shows very clear commitment to execute this type of construction on time and the middle of the Canadian winter."
Gravimetric Geophysical Survey at Sleeping Giant
A gravimetric geophysical survey will soon be conducted across the entire Sleeping Giant property by the Val-d'Or-based firm Géophysique TMC. Approximately 750 measurement points will be used to cover the entire site.
The objective of this study is to identify the possible presence of significant mineralized zones at depth, which could correspond to massive sulfide deposits. This technology can detect anomalies up to approximately 2 kilometers below the surface, depending on conditions.
This survey is justified by recent observations of drill cores, which have revealed the presence of minerals such as sphalerite and chalcopyrite, often associated with gold. These observations suggest significant mineral potential linked to a deep volcanic source.
It is important to note that a survey of this scale has never been conducted on the property before, making it a first for Abcourt Mines. The results will allow for better targeting of future drilling and assessment of the deposit's potential at depth, with the aim of optimizing the next stages of exploration.
Qualified Person
Pascal Hamelin, Eng, President and Chief Executive Officer of the Corporation, has verified and approved the technical information contained in this press release.
Mr. Hamelin is a qualified person under Regulation 43-101.
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 President and CEO T : (819) 768-2857 Email:Â phamelin@abcourt.com | Dany Cenac Robert, VP Communications and Corporate Development T : (514) 722-2276, ext. 456 Email:Â ir@abcourt.com |
| Â | Â |
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 expected use of the proceeds from the Financing Facility and 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, economic and 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.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/57040fc4-7551-441f-8495-2514b3717ec6
https://www.globenewswire.com/NewsRoom/AttachmentNg/a801a611-64d2-415f-baba-a352f908b8b7
