Gascoyne Resources Limited (“Gascoyne” or “Company”) (ASX: GCY) is pleased to report the latest assay results received from ongoing resource and exploration drilling at the Dalgaranga Gold Project in Western Australia.
Key Points:
Gascoyne Managing Director and Chief Executive Officer, Simon Lawson, said: “This round of assays is targeting and testing the extremities of the Never Never Gold Deposit system. We are looking to ascertain where the edges of this new system are for the upcoming MRE update.
We have another deep mineralised intercept with visible gold well below the current resource in DGRC1204-DT, with significant infill results within the deeper part of our upcoming resource update in DGRC1185-DT, there continues to be good widths and grades outside the resource to the south in DGRC1210 and at depth in DGDH033 and DGRC1194-DT illustrating that this mineralised system appears to be improving with depth, and to top that another solid high-grade hit, 10m @ 12g/t gold in the pre-collar of DGRC1183-DT. The deepest drill-hole assayed so far at Never Never returned an incredible 29m @ 11.09g/t gold from over 400m downhole and now we get 10m @ 12g/t from 237m in the same hole.!
To add to the growing high-grade Never Never system and the nearby high-grade prospects being discovered, the Company is drilling the deepest hole yet into Never Never targeting 550-600 metres down-plunge to test the depth extension. The Company is also drilling several high-priority high-grade targets in the near vicinity of Never Never and will provide an update as that work progresses. The exploration team is not resting on the Never Never discovery, but looking to take what has been learned and test other high-grade opportunities in and around the Dalgaranga mill as quickly as possible.”
Never Never is a new high-grade gold deposit which strikes and plunges to the west-south-west. The deposit was discovered while following up wide, high-grade drill intercepts from the earlier Gilbey’s North extension discovery immediately north of the Gilbey’s open pit at Dalgaranga. Due to the high-grade and apparent scale of Never Never, this deposit now represents the foundation of the Company’s new operating and growth plan.
Never Never is distinct from the Gilbey’s North discovery due to considerable differences in tenor, thickness of mineralisation, mineralogy, scale, orientation and host structure/rock-type. Despite these differences, due to the close spatial association of the two deposits, the Never Never and Gilbey’s North deposits are collectively known as the “Never Never Gold Deposit”.
Never Never is much higher grade than any of the previously defined ore bodies at Dalgaranga and appears to be far more structural, fold and/or shear-hosted as opposed to the more stratigraphic/shale- associated historically defined Gilbey’s series of gold deposits.
On 23 January 2023 Gascoyne released an updated Never Never Gold Deposit Mineral Resource Estimate of 303,100 ounces @ 4.64g/t gold (comprising 1.0Mt @ 2.45g/t for 86,500oz Au “Open Pit” (>0.5g/t Au) and 0.93Mt @ 7.22g/t for 216,600oz Au “Underground” (>2.0g/t Au)).
Figure 1: Long-section of the Never Never Gold Deposit with current resource estimation blocks (coloured by block grade).
Please Note: Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.
Click here for the full ASX Release
This article includes content from Gascoyne Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Harvest Gold offers investors a compelling opportunity to participate in early-stage exploration within Quebec’s prolific Abitibi Greenstone Belt – home to some of Canada’s richest gold deposits – through three strategically located and 100 percent owned properties, with a flagship asset positioned for significant discovery upside.
Harvest Gold (TSXV:HVG) is a Canadian junior exploration company advancing a portfolio of 100 percent owned, highly prospective gold projects in Quebec’s world-renowned Abitibi Greenstone Belt. With more than 200 million ounces of historical gold production, the Abitibi is one of the richest gold-producing regions globally. Harvest Gold’s properties – Mousseau, Urban Barry and LaBelle – are strategically situated in and around the Urban Barry Greenstone Belt, a rapidly emerging gold camp that has become the focal point of aggressive exploration and investment by major players like Gold Fields and Osisko Mining.
The Urban Barry Belt is particularly significant: it hosts the high-grade, multi-million-ounce Windfall gold deposit, which was developed by Osisko Mining and recently purchased by Gold Fields, as well as Bonterra’s Gladiator and Barry deposits. In a belt where land is increasingly consolidated by majors, Harvest Gold controls three of the few remaining independent, district-scale land packages, representing a rare opportunity for investors to gain early exposure in an area with proven geological endowment and high-value acquisition potential. With road access, nearby infrastructure and recent forest fires having cleared ground for new exploration, the conditions are optimal for discovery.
The company's strategy is further strengthened by its highly experienced leadership and technical team. CEO Rick Mark brings more than 40 years of business and management experience and has overseen multiple resource companies through peak valuations for 25 years. The technical team includes industry veterans such as Louis Martin, a two-time AEMQ “Discovery of the Year” award winner, and Warren Bates, former VP exploration for Pelangio, who was instrumental in the Blackwater discovery. This team brings deep expertise in structural geology, Quebec-focused exploration, and mine development.
Harvest Gold is backed by Crescat Capital, a prominent institutional investor with a strong track record of supporting early-stage discoveries. Crescat’s investment was driven by the endorsement of their strategic advisor, Dr. Quinton Hennigh, a globally recognized exploration geologist. His confidence in the company’s land positioning and geological model is a powerful validation of Harvest’s potential.
The Mousseau gold project is Harvest Gold’s flagship asset, encompassing 193 claims across 9,735.6 hectares in the northern Abitibi Greenstone Belt of Quebec. Located just 15 kilometers east of Lebel-sur-Quévillon, the property benefits from year-round road accessibility, offering critical logistical and cost advantages for exploration. It lies immediately adjacent to claims held by Gold Fields and Cartier Resources to the north and near significant land packages staked by renowned prospector Shawn Ryan to the south, placing Mousseau in the heart of one of the most geologically fertile and active regions in Canada.
At the geological level, Mousseau straddles two major structural corridors: the Morono Shear Zone and the Kiask River Deformation Zone. Both zones exhibit classic characteristics of shear-hosted gold systems, including multiple stacked quartz-sericite shear zones with widths ranging from under one meter to over 30 meters. The property already boasts 49 significant surface gold showings and a historical, non-NI 43-101 compliant gold resource at the Morono zone. New geological mapping, combined with geophysics and geochemical sampling, confirms a large, mineralized system with excellent continuity along strike and at depth.
In 2024, Harvest Gold completed a comprehensive high-resolution airborne magnetic survey over the entire property, revealing a network of previously unrecognized structural features and magnetic domains. These insights were critical in refining drill targets, particularly in underexplored zones that were newly exposed following the 2023 wildfires. Initial compilation and fieldwork has already validated several new high-priority gold targets in both the northern (Morono) and central (Kiask River) zones of the property.
Highlights from historical and recent data include:
The company’s 2025 exploration plan includes 5,000 meters of diamond drilling focused on these defined high-priority targets, with a fully scoped budget of $1 million, aiming to unlock the project's full potential as a large-scale, high-grade discovery.
Given its scale, geological architecture, infrastructure access and strategic neighbors, Mousseau is well-placed to evolve into a tier-one asset capable of attracting major partners or acquirers.
Acquired from EGR Exploration, the Urban Barry property comprises 6,879 hectares located west of the Osisko/Gold Fields Windfall property. The project spans 20 km of favorable strike length and sits along the southern margin of the Urban Barry Greenstone Belt.
Key advantages:
Staked in 2024, LaBelle covers 3,394 hectares and represents a 9 km southeast extension of the Kiask River Fault. It mirrors the geological setting of Mousseau, with similar NW-SE oriented shear zones and structural contacts between the Wilson Pluton and volcanic sequences.
Though early-stage, LaBelle offers:
With 25 years of leadership in Canadian public resource companies, Rick Mark previously helmed VMS Ventures, North American Nickel and Pancontinental Uranium, each achieving peak valuations of C$200 million.
A Quebec-focused geological consultant with more than 40 years of experience, Louis Martin is the former VP of exploration at Clifton Star Mining, where he led the team developing the Duparquet deposit. He is a multiple-time recipient of the AEMQ “Discovery of the Year” award.
Recently VP capital markets at Tutor Gold, Pat Donnelly is a former co-founder and president of First Mining Gold, where he executed eight M&A deals growing the company’s market cap from $30 million to $600 million.
Len Brownlie brings more than 30 years of executive leadership in mining exploration. He is the former president of Goldrush Resources and director of First Silver Reserve.
Christopher Cherry has more than 15 years of experience in corporate accounting and audit for public companies. He oversees Harvest Gold’s financial strategy and compliance.
Ed Zablotny boasts over 35 years in venture capital markets with expertise in trading, credit and regulatory compliance.
Warren Bates is a veteran geologist with 30+ years in gold and base metals exploration. He is the former VP of exploration at Pelangio Exploration and part of the Blackwater deposit discovery team.
Henry Awmack is the co-founder of Equity Exploration Consultants, with over 40 years of exploration experience. He was notably involved in early work on the Cobre Panama copper-gold deposit.
Neil Richardson is a geological consultant and the VP Explorations for Hudbay Minerals. He led the team behind the discovery and development of the Reed Mine while at VMS Ventures.
Finlay Minerals (TSXV:FYL,OTCQB:FYMNF) is a Vancouver-based explorer targeting copper, gold, and silver in British Columbia’s prolific Stikine Terrane. With a focus on porphyry and epithermal systems, the company leverages strong geological expertise, strategic partnerships, and disciplined capital use to drive discovery and development.
Finlay Minerals offers a compelling, de-risked exploration opportunity anchored by 2025 earn-in agreements with Freeport-McMoRan, one of the world’s largest copper producers. Freeport is actively funding the advancement of the PIL and ATTY projects in BC’s Toodoggone District, providing a non-dilutive path to unlock value from Finlay’s flagship assets.
With rising copper and gold prices and operations in one of the world’s safest and most resource-rich jurisdictions, Finlay offers investors exposure to significant upside through smart partnerships and disciplined exploration.
This Finlay Minerals profile is part of a paid investor education campaign.*
Click here to connect with Finlay Minerals (TSXV:FYL) to receive an Investor Presentation
Maritime Resources Corp. (TSXV: MAE) ("Maritime" or the "Company") is pleased to provide an update for the Hammerdown Gold Project, located in the Baie Verte mining district of Newfoundland and Labrador ("Hammerdown"), near the towns of King's Point and Springdale.
Highlights:
Additional grade control drilling south of the historic mine workings confirms the presence of a new orientation in mineralized trends with substantial gold grades and widths starting at surface
24.5 grams per tonne ("gpt") gold ("Au") over 13.9 metres ("m"), including 42.2 gpt Au over 8.0 m in drill hole HDGC-25-272
34.4 gpt Au over 2.5 m, 5.2 gpt Au over 2.9 m and 1.3 gpt Au over 7.0 m in drill hole HDGC-25-274
7.2 gpt Au over 13.5 m, including 12.7 gpt Au over 3.8 m in drill hole HDGC-25-276
1.7 gpt Au over 36.0 m, including 1.9 gpt Au over 15.4 m in drill hole HDGC-25-273
1.7 gpt Au over 23.0 m, including 25.1 gpt Au over 1.0 m in drill hole HDGC-25-271
53.9 gpt Au over 3.5 m in channel sample HDFN-CH-25-03 and 31.2 gpt Au over 3.2 m in channel sample HDFN-CH-25-02
"Following the successful grade control program completed earlier this year, additional drilling has targeted a new orientation in gold trends south of the historic underground mine workings. This north-south zone begins at surface and lies within the planned open pit footprint with results demonstrating high grade gold mineralization across significant widths and remains open at depth. This presents an attractive opportunity for early development and cash flow by now having all permitting completed for the Hammerdown Gold Project and our Pine Cove mill now fully operational. It also highlights the potential for additional mineral resources in the immediate area of the deposit," comments Garett Macdonald, President and Chief Executive Officer.
Discussion of Results
As part of the 2025 definition drilling program that refined the Hammerdown geological model, a high-grade ore shoot was identified with a structural orientation distinct from the rest of the deposit. This ore shoot was intersected in grade control drill holes HDGC-25-122 and HDGC-25-038 which intersected 12.0 gpt Au over 28.0 m and 43.6 gpt Au over 6.3 m respectively (Maritime Press Release Dated January 27, 2025). Historical mining immediately north of the area had indicated that the east-west trending Hammerdown vein system may be translated into a north-south direction due to shearing along the Wisteria/Rumbullion shear zone.
Channel sampling and six short diamond drill holes (totalling 292 m) were completed to test the orientation of the mineralized veins in the footwall within the proposed first year of open pit mining. Results from channel sampling included 31.2 gpt Au over 3.2 m in HDFN-CH-25-02 and 53.9 gpt Au over 3.5 m in HDFN-CH-25-03. Following up on these channel samples several drill holes were completed to test the depth extents of the mineralization including HDGC-25-272 that returned 24.5 gpt Au over 13.9 m, including 42.2 gpt Au over 8.0 m. A 10 m step-back drill hole, HDGC-25-273, returned 1.7 gpt Au over 36.0 m, including 1.94 gpt Au over 15.4 m and drill hole HDGC-25-271 that was drilled 10 m south of HDGC-25-272 returned 1.7 gpt Au over 23.0 m, including 25.1 gpt Au over 1.0 m. Additionally, drill hole HDGC-25-276 was drilled 10 m north of HDGC-25-272 intersecting the zone with 7.2 gpt Au over 13.5 m, including 12.7 gpt Au over 3.8 m.
Maritime completed trenching which revealed a change in the orientation of high-grade gold zones, providing new insights into local structural controls and the deformation of the mineralized system in the Wisteria area of the deposit. The mineralized veins mapped in trenching is represented by base metal rich quartz/sulphide veins and mineralized felsic intrusions along with low grade disseminated mineralization in the host rock that strikes north south rather than the general east-west trend defined in the remainder of the deposit.
The broader mineralized intersections reflect the disseminated nature of the mineralization in the sericite altered felsic/mafic host and felsic intrusions which also had not been adequately tested by the north south drilling in the area. Maritime noted the consistent high-grade nature of the vein intersection while drilling from both directions, although structurally disrupted and having been drilled from two directions the vein intersection consistently carried exceptionally high gold grades while the encompassing shear zone and quartz feldspar porphyries often carried broad intervals disseminated gold mineralization.
Figure 1. Outcrop in newly trenched area with high-grade vein orientated north-south
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Figure 2. Hammerdown Site Plan Map
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Figure 3. Cross Section 548907 N
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Table 1. Assay results for new drilling and channel sampling
| Hole | From | To | Length | Au gpt | Comments |
| HDFN-CH-25-01 | 1.50 | 2.00 | 0.50 | 3.33 | Channel Sample |
| HDFN-CH-25-02 | 6.50 | 10.00 | 3.50 | 31.18 | Channel Sample |
| HDFN-CH-25-03 | 2.30 | 5.50 | 3.20 | 7.76 | Channel Sample |
| And | 9.00 | 12.50 | 3.50 | 53.94 | Channel Sample |
| HDFN-CH-25-04 | 4.50 | 7.00 | 2.50 | 5.15 | Channel Sample |
| And | 11.50 | 12.50 | 1.00 | 8.09 | Channel Sample |
| HDFN-CH-25-05 | 0.00 | 0.50 | 0.50 | 95.76 | Channel Sample |
| HDFN-CH-25-06 | 0.00 | 0.20 | 0.20 | 168.59 | Channel Sample |
| HDGC-25-271 | 7.00 | 31.00 | 24.00 | 1.65 | |
| Including | 7.50 | 8.48 | 0.98 | 25.09 | |
| HDGC-25-272 | 11.07 | 25.00 | 13.93 | 24.54 | |
| Including | 17.00 | 25.00 | 8.00 | 42.23 | |
| HDGC-25-273 | 25.66 | 61.62 | 35.96 | 1.67 | |
| Including | 39.14 | 54.58 | 15.44 | 1.94 | |
| HDGC-25-274 | 14.35 | 17.21 | 2.86 | 5.18 | |
| And | 24.29 | 26.83 | 2.54 | 34.40 | |
| Including | 26.54 | 26.83 | 0.29 | 256.20 | |
| And | 44.95 | 52.00 | 7.05 | 1.31 | |
| HDGC-25-275 | 30.50 | 33.00 | 2.50 | 1.23 | |
| And | 37.00 | 40.00 | 3.00 | 1.09 | |
| HDGC-25-276 | 22.50 | 36.00 | 13.50 | 7.18 | |
| Including | 29.70 | 33.45 | 3.75 | 12.71 | |
| Lengths reported relative to core access are estimated to be approximately 70% true thickness | |||||
Table 2. Drill hole details for new trench and drilling
| Hole ID | Type | Easting | Northing | Elevation | Total Length | Azimuth | Dip |
| HDFN-CH-25-01 | Channel Sample | 554846.5 | 5489069.5 | 189.7 | 2.0 | 273.0 | 7 |
| HDFN-CH-25-02 | Channel Sample | 554845.8 | 5489068.5 | 190.0 | 11.0 | 271.0 | 2 |
| HDFN-CH-25-03 | Channel Sample | 554845.1 | 5489077.0 | 188.7 | 17.0 | 261.0 | 4 |
| HDFN-CH-25-04 | Channel Sample | 554845.1 | 5489082.7 | 188.6 | 12.5 | 250.0 | 5 |
| HDFN-CH-25-05 | Channel Sample | 554832.8 | 5489078.1 | 189.7 | 1.0 | 197.0 | 6 |
| HDFN-CH-25-06 | Channel Sample | 554832.2 | 5489078.2 | 189.7 | 1.0 | 170.0 | 2 |
| HDGC-25-271 | Drill hole | 554851.7 | 5489060.7 | 191.3 | 31.0 | 270.0 | -45 |
| HDGC-25-272 | Drill hole | 554856.8 | 5489070.0 | 191.5 | 46.0 | 270.0 | -45 |
| HDGC-25-273 | Drill hole | 554867.5 | 5489070.3 | 191.3 | 64.0 | 270.0 | -45 |
| HDGC-25-274 | Drill hole | 554862.5 | 5489060.2 | 191.7 | 61.0 | 270.0 | -45 |
| HDGC-25-275 | Drill hole | 554856.3 | 5489047.1 | 194.8 | 40.0 | 270.0 | -45 |
| HDGC-25-276 | Drill hole | 554863.0 | 5489076.8 | 191.4 | 49.0 | 271.0 | -45 |
Qualified Person
Exploration activities at the Hammerdown Gold Project are administered on site by the Company's Exploration Manager, Larry Pilgrim, P.Geo. In accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects, Larry Pilgrim, P.Geo. Exploration Manager, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this press release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration activities on its exploration projects.
Analytical Procedures
All samples assayed and pertaining to this press release were completed by Eastern Analytical Limited (EAL) located at Springdale, Newfoundland and Labrador. EAL is an ISO 17025:2005 accredited laboratory for a defined scope of procedures. EAL has no relationship to Maritime. Drill core samples are collected from NQ sized diamond drill core and sawn in half. The half core samples are delivered in sealed plastic bags to EAL by Maritime field crews where they are dried, crushed, and pulped. Samples are crushed to approximately 80% passing a minus 10 mesh and split using a riffle splitter to approximately 250 grams. A ring mill is used to pulverize the sample split to 95% passing a minus 150 mesh. Sample rejects are securely stored at the EAL site for future reference. A 30-gram representative sample is selected for analysis from the 250 grams after which EAL applies a fire assay fusion followed by acid digestion and analysis by atomic absorption for gold analysis. Other metals were analyzed by applying an acid digestion and 34 element ICP analysis finish. EAL runs a comprehensive QA/QC program of standards, duplicates and blanks within each sample stream.
About Maritime Resources Corp.
Maritime (TSXV: MAE) (OTC Pink: MRTMF) is a gold exploration and development company focused on advancing the Hammerdown Gold Project in the Baie Verte District of Newfoundland and Labrador, a top tier global mining jurisdiction. Maritime holds a 100% interest directly and subject to option agreements entitling it to earn 100% ownership in the Green Bay Property which includes the former Hammerdown gold mine and the Orion gold project. Maritime controls over 439 km2 of exploration land including the Green Bay, Whisker Valley, Gull Ridge and Point Rousse projects. Mineral processing assets owned by Maritime in the Baie Verte mining district include the Pine Cove mill and the Nugget Pond gold circuit.
On Behalf of the Board:
Maritime Resources CORP.
Garett Macdonald, MBA, P.Eng.
President and Chief Executive Officer
info@maritimegold.com
www.maritimeresourcescorp.com
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Caution Regarding Forward-Looking Statements:
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of National Instrument 51-102 - Continuous Disclosure Obligations. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects", "intends", "indicates" "plans" and similar expressions. Forward-looking statements include, but are not limited to, statements concerning the Hammerdown mineralization, its' metallurgical response, precious metal extraction based on the ongoing metallurgical testwork, sampling programs, the grade control drilling program, location and grade of underground workings and backfill material, construction elements planned for Hammerdown, production ramp up at Hammerdown, preparation of an updated technical report for Hammerdown, investments to be made to and plans for the Pine Cove mill, growth of the Company and the creation of long-term value for shareholders, exploration plans at the Company's properties, amongst other things, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. All forward-looking statements and forward-looking information are based on reasonable assumptions that have been made by the Company in good faith as at the date of such information. Such assumptions include, without limitation, the price of and anticipated costs of recovery of, base metal concentrates, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the use of ore sorting technology will produce positive results, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the ability of the Company to continue to be able to access the capital markets for the funding necessary to acquire, maintain and advance exploration properties or business opportunities; global financial conditions, including competition within the industry to acquire properties of merit or new business opportunities, and competition from other companies possessing greater technical and financial resources; difficulties in advancing towards a development decision and executing exploration programs on the Company's proposed schedules and within its cost estimates, whether due to weather conditions, availability or interruption of power supply, mechanical equipment performance problems, natural disasters or pandemics in the areas where it operates; increasingly stringent environmental regulations and other permitting restrictions or maintaining title or other factors related to exploring of its properties, such as the availability of essential supplies and services; factors beyond the capacity of the Company to anticipate and control, such as the marketability of mineral products produced from the Company's properties; uncertainty as to whether mineral resources will ever be converted into mineral reserves once economic considerations are applied; uncertainty as to whether inferred mineral resources will be converted to the measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied; government regulations relating to health, safety and the environment, and the scale and scope of royalties and taxes on production; and the availability of experienced contractors and professional staff to perform work in a competitive environment and the resulting adverse impact on costs and performance and other risks and uncertainties, including those described in each MD&A of financial condition and results of operations. In addition, forward-looking information is based on various assumptions including, without limitation, assumptions associated with exploration results and costs and the availability of materials and skilled labour. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, Maritime undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange ("TSX-V") nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
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Abcourt Mines Inc. (" Abcourt " or the " Corporation ") (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to announce that it intends to complete a non-brokered private placement of a secured convertible debenture of the Corporation (the " Debenture ") for gross proceeds of $3,000,000 (the " Debenture Offering ").
Debenture Offering
The Debenture will bear interest at the SOFR (Secured Overnight Financing Rate) plus 10%, per annum, and will mature four years following the date of issuance (the " Maturity Date "). The principal amount of the Debenture (the " Principal Amount ") will be convertible into common shares of the Corporation (each a " Share ") at a conversion price of $0.05 per Share during the first year, and at a conversion price of $0.10 per Share during the following years (the " Conversion Price ") any time prior to the close of business on the Maturity Date, at the option of the holder. All interest accrued on the Debenture will be payable in cash. The Corporation may prepay the Debenture at any time prior to the maturity date, without penalty.
It is expected that the Debenture will be purchased by François Mestrallet, director of the Corporation. As a result, the Debenture Offering will constitute a "related party transaction" within the meaning of Multilateral Instrument 61– 101 - Protection of Minority Security Holders in Special Transactions (" MI 61–101 ").
The Corporation intends to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the Debenture Offering as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the Debenture, exceeds 25% of the Corporation's market capitalization (as determined in accordance with MI 61-101). The Corporation did not file a material change report in respect of this transaction at least 21 days before the anticipated closing of the Debenture Offering, as details of such transaction was unknown at such time.
The Debenture Offering is expected to be completed on or around June 19, 2025 (the " Closing Date ").
Financing Facility
Concurrently with the closing of the Debenture Offering, the Corporation intends to close its previously announced secured financing facility (" Financing Facility ") with Nebari Natural Resources Credit Fund II, LP (the " Lender ") in an amount of US$8 million (" Principal Amount ") bearing interest at the SOFR (Secured Overnight Financing Rate) plus 12%, with a term of 36 months.
Under the terms of the Financing Facility, the Corporation will have the option, at any time after 365 days from the Closing Date, to prepay the Lender in full or in part, the outstanding Principal Amount subject to a minimum prepayment amount of $1,000,000. If, at such prepayment date, the Lender has not achieved an absolute return of at least 25% on the total Principal Amount prepaid as of the date of prepayment, the prepayment shall include a cash make-whole payment in such amount as to provide Lender with a 25% absolute return (the " Make Whole Amount ") on the Principal Amount prepaid.
Subject to the final approval of the TSX Venture Exchange (the " TSXV "), on the Closing Date, the Corporation will issue to the Lender 87,040,000 warrants (the " Warrants "). Each Warrant will be exercisable for one common share of the Corporation (a " Warrant Share ") at an exercise price of $0.0625 per Warrant Share, for a 36-month period.
The Warrants and any Warrant Shares issuable upon exercise thereof will be subject to a statutory hold period in Canada of 4 months and one day from the date of issuance of the Warrants. The Warrants and Warrant Shares will also be "restricted" securities under applicable U.S. securities laws.
At the Lender's election, funds raised from the exercise of Warrants may be used for prepayment of outstanding Principal Amount without application of the Make Whole Amount.
Equity Financing
The Corporation is pleased to announce that it also intends to close a tranche of non-brokered equity financing for gross proceeds of $1,000,000 on the Closing Date, consisting of the sale of units of the Corporation (the " Units ") at a price of $0.05 per Unit (the " Private Placement ").
Each Unit will consist of one common share of the Corporation (a " Common Share ") and one common share purchase warrant (a " Unit Warrant "). Each Unit Warrant will entitle the holder to purchase one Common Share at a price of $0.08 for a period of 36 months following the Closing Date.
In the event that, during the period ranging between 12 months and 36 months following the Closing Date, the volume-weighted average trading price of the common shares exceeds $0.12 per common share for any period of 20 consecutive trading days, the Corporation may, at its option, following such 20-day period, accelerate the expiry date of the Unit Warrants by delivery of notice to the registered holders (an " Acceleration Notice ") thereof and issuing a press release (a " Warrant Acceleration Press Release "), and, in such case, the expiry date of the Unit Warrants shall be deemed to be 5:00 p.m. (Montreal time) on the 30 th day following the later of (i) the date on which the Acceleration Notice is sent to Unit Warrant holders, and (ii) the date of issuance of the Warrant Acceleration Press Release.
The Corporation intends to use the net proceeds from the Debenture Offering, Financing Facility and Private Placement to restart the Sleeping Giant mine and mill as well as for the repayment of outstanding account payables, working capital and general corporate purposes.
The Debenture Offering, Financing Facility and Private Placement remain subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the final approval of the TSXV.
All securities issued in connection with the Debenture Offering, the Financing Facility and the Private Placement will be subject to a restricted period ending on the date that is four months plus one day following the date of their issuance.
The securities offered have not been, nor will they be, registered under the U.S. Securities Act, or any state securities law, and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration or an exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.
ABOUT Abcourt Mines Inc.
Abcourt Mines Inc. is a Canadian exploration 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 Cenac Robert, Investor Relations |
| President and CEO | Reseau ProMarket Inc. |
| T : (819) 768-2857 | T : (514) 722-2276, poste 456 |
| Email: phamelin@abcourt.com | Email : dany.cenac-robert@reseaupromarket.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 closing of the Debenture Offering, the Financing Facility and the Private Placement, the amount and expected use of proceeds raised under the Debenture Offering, the Financing Facility and the Private Placement, 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.
News Provided by GlobeNewswire via QuoteMedia
With a strategic foothold in British Columbia’s most prospective mining belts, Finlay Minerals is an emerging copper-gold-silver exploration company with a compelling investment story, backed by a 30-year technical legacy and disciplined approach to discovery.
Finlay Minerals (TSXV:FYL,OTCQB:FYMNF) is a Vancouver-based mineral exploration company focused on advancing copper, gold and silver projects in British Columbia’s premier mining districts, particularly within the richly mineralized and productive Stikine Terrane. The company’s strategic objective is to discover and develop high-quality porphyry and epithermal deposits through a combination of geological expertise, partner-funded programs, and disciplined capital deployment.
Founders John J. Barakso and Robert Brown at the PIL Property
Finlay’s value proposition is anchored in its 2025 agreements with Freeport-McMoRan – one of the world’s largest copper producers – which is actively funding the advancement of the PIL and ATTY projects in the Toodoggone District. These earn-in agreements provide a non-dilutive path to unlock value from Finlay’s flagship assets, while enabling the company to focus internal resources on regional-scale exploration at its SAY, JJB and Silver Hope properties.
The company benefits from a seasoned technical team with regional expertise and a deep understanding of the geologic architecture of British Columbia. New exploration initiatives, such as those along the Bear Lake Corridor, position Finlay for new discovery potential across multiple fronts. With metal prices trending higher and a favorable operating environment in Canada, Finlay Minerals offers exposure to copper and gold discoveries in one of the safest and most geologically endowed jurisdictions globally.
The 100 percent owned PIL property spans 13,374 hectares in the prolific Toodoggone mining district in British Columbia and was staked over 30 years ago by Finlay’s founders. It hosts multiple copper-gold-molybdenum porphyry and gold-silver epithermal targets within the 70 km regional porphyry corridor trend, situated near major deposits including Centerra Gold’s Kemess complex and the Amarc-Freeport AuRORA discovery. Notable targets on the property include PIL South (2.5 x 2.0 km soil geochemical anomaly with supported IP anomaly), Copper Ridge (soil anomaly 1.9 x 1.3 km) and Spruce (rock samples up to 18.4 percent copper). Historical drilling includes 72 holes totaling over 17,000 metres, with new targets emerging from recent geophysical and geochemical work. Past drilling includes intersections like 162.0 m of 0.1 percent copper, 0.05 grams per ton gold and 7.1 g/t silver at PIL South, highlighting the potential for bulk tonnage copper-gold systems.
Finlay has announced an earn-in agreement with Freeport-McMoRan, which may invest up to $25 million in exploration expenditures to earn 80 percent interest over six years, signaling high confidence in the PIL project's tier-1 potential. A broad and systematic exploration plan is in place for the 2025 season, involving surface sampling with updated analysis techniques, mapping and detailed geophysical surveys.
Covering 3,875 hectares, the 100 percent owned ATTY property, also in the Toodoggone District, lies directly north of the Kemess East and Underground deposits. It shares similar stratigraphy and alteration patterns and is interpreted to host an extension of the Kemess North trend. The property hosts eight epithermal and porphyry targets, including two main targets, the KEM and Wrich targets, which have been delineated through IP surveys and/or geochemistry, pointing toward porphyry centers. Thirteen holes totaling 3,971 meters have been drilled to date, but the main IP chargeability zone remains untested at depth. With similarities to the upper Kemess East deposit and structural alignment with the adjacent Joy project (Amarc/Freeport), ATTY is considered a high-priority drill target and is fully permitted for 2025. Finlay has announced an earn-in agreement with Freeport-McMoRan, which may invest up to $10 million in exploration expenditures to earn 80 percent interest over six years, signaling high confidence in the ATTY project's tier-1 potential.
The SAY property is a 100 percent owned, early-stage exploration project covering 26,202 hectares within the underexplored Bear Lake Corridor of the Stikine Terrane. Located 140 km north of Smithers, BC, it is accessible by helicopter with logging roads nearby. The project hosts structurally controlled high-grade copper and silver mineralization at the SPUR Target, which includes the AG Zone, East Breccia and Western Shear. Recent surface sampling returned exceptional grades such as 14.5 percent copper and 850 g/t silver from East Breccia, and 11.2 percent copper and 819 g/t silver from the AG Zone. Copper and silver exposures at the AG Zone have been observed over a 200 by 200 metre area. The mineralization occurs along a 4.3 km ridgeline with strong magnetic signatures, spatially related to local faults, intrusive dykes and breccias. The SHEL target, associated with molybdenum, adds porphyry-style upside. A property-wide mag survey and extensive surface sampling program is planned in 2025 to systematically evaluate the copper potential of the SAY property.
The fully owned JJB property spans 15,453 hectares and lies 4 km north of SAY within the same Bear Lake Corridor. Named after founder John J. Barakso, this grassroots property is in the early stages of exploration but offers significant blue-sky potential. The property shares the same tectonic setting as NAK and DUKE and will benefit from the technical momentum established at SAY. Logging roads and an airstrip are within 10 km of the JJB claims, providing nearby staging areas for this heli-access project. Systematic geological mapping and sampling, alongside airborne mag surveys, are planned to generate drill targets in the near term.
The Silver Hope property covers 21,322 hectares surrounding the historic Equity Silver mine in the Skeena Arch. This 100 percent owned asset hosts the Main Trend, a >2 km copper-silver-gold mineralized system extending from the Newmont owned, past-producing, Equity Silver mine. Historical drilling (over 41,000 m) has intersected broad mineralized zones, including 282 m @ 0.23 percent copper, 6.4 g/t silver and 0.01 g/t gold. Other notable intercepts include 133 m @ 0.30 percent copper and 7.6 g/t silver. The West Cu-Mo Porphyry target adds a large-scale copper-molybdenum opportunity to the mix, and the project is fully permitted for drilling.
Ilona Lindsay has over 15 years of experience with Finlay and is the daughter of company co-founder John J. Barakso. She has overseen corporate operations, financings and tenure management. Under her leadership, the company has transitioned toward institutional-grade exploration partnerships while maintaining fiscal discipline. She is also a director of the Barakso family companies.
A retired professional engineer with over 40 years of experience in porphyry and epithermal systems, Robert Brown co-founded Finlay and played a critical role in identifying and acquiring its land packages. He previously served as VP exploration for Great Panther Mining and worked with LAC Minerals. His technical vision continues to shape the company’s exploration direction.
Wade Barnes is a P.Geo. and Qualified Person (QP) with over 20 years of geological experience in BC. He was co-recipient of the AMEBC H.H. “Spud” Huestis Award for the discovery of Kemess East deposit in the Toodoggone. At Finlay, he leads technical execution and target development across the portfolio.
With over two decades of industry experience, including senior roles at Pretium Resources (Brucejack Mine) and Brixton Metals, Susan Flasha brings strong expertise in project evaluation and strategic growth.
A CPA with over 30 years in mining finance, Gord Steblin ensures sound financial governance and supports Finlay’s budgeting, reporting and fundraising activities. He serves as CFO for several other exploration-stage companies.