Abcourt Mines Inc.

Abcourt Mines Inc. is a Canadian mining company focused on becoming a near-term gold producer through the restart of its 100%-owned Sleeping Giant Mine and Mill in the Abitibi region of Quebec. The company controls approximately 500 km² of strategic landholdings across one of North America’s most productive gold belts and operates a fully permitted 950-tonne-per-day processing plant, along with established underground and surface infrastructure. Sleeping Giant has a strong production history - over 1.07 million ounces of gold were mined between 1987 and 2014 at an average grade of 10.29 g/t Au - and Abcourt is currently advancing development and processing activities toward commercial production.

In addition to Sleeping Giant, Abcourt holds a diversified asset base that includes the Flordin-Cartwright and Discovery gold deposits, both with recent NI 43-101 mineral resource estimates, as well as earlier-stage projects distributed across the district. Abcourt also controls several base-metal assets, including the Abcourt-Barvue and Vendôme zinc–silver deposits and the Aldermac copper project, providing long-term optionality in multiple commodity cycles.

Abcourt is publicly listed on the TSX Venture Exchange under the symbol ABI and strengthened its financial position in 2024–2025 through debt financing agreements with Nebari and Investissement Québec. The company’s strategy centers on leveraging the Sleeping Giant Mill as a regional processing hub, advancing high-grade underground mining, and expanding resources across its district-scale land package.

Abcourt Mines presents a unique opportunity centered on the near-term restart of the Sleeping Giant Mine, supported by a fully operational mill and positive economic fundamentals outlined in the 2023 Preliminary Economic Assessment (PEA). Using a US$1,800/oz gold price, the study reported an after-tax NPV5% of C$54.4 million and a 33.3% IRR, with average annual production of approximately 30,100 ounces over a 5.8-year initial mine life. With the start of stope production and mill commissioning in mid-2025, Abcourt is positioned to transition quickly into cash-flow generation, benefitting from high historical recoveries near 97% and existing infrastructure that reduces capital intensity.

The company’s exploration portfolio adds further upside. The 2024 gold discovery at Cartwright, east of the Flordin deposit, revealed a 200-metre mineralized corridor with channel samples averaging 6.5 g/t Au over 10 metres and supported by historical drilling from Cambior. This emerging discovery, combined with the established Flordin and Discovery resource bases, provides Abcourt with a significant pipeline of development-stage projects within trucking distance of the Sleeping Giant Mill.

Abcourt also maintains leverage to zinc, silver, and copper markets through substantial historical resources at Abcourt-Barvue and Vendôme and a past-producing copper asset at Aldermac. These projects offer long-term diversification and potential future development pathways. Operating in Quebec - one of the world’s top mining jurisdictions - with access to low-cost hydropower and strong provincial support, Abcourt is well positioned to advance its regional consolidation strategy and unlock value across its multi-asset portfolio.

Abcourt Mines is led by a management team with extensive experience in underground mining operations, exploration, and corporate finance. President and CEO Pascal Hamelin, a mining engineer with more than 30 years of mine development and operational expertise, oversees the restart of Sleeping Giant and the company’s broader strategic direction. He is joined by CFO Alain Lévesque, a CPA with three decades of experience in public mining companies, project startups, and financial structuring. Exploration strategy is led by Robert Gagnon, a geologist with over 25 years of experience, including leadership of Pershimex prior to its acquisition by Abcourt in 2023.

The company’s operational team is supported by General Manager Annie Migneault, who brings over 20 years of business management and operational leadership experience. Together, the management group provides strong technical and financial oversight as Abcourt advances multiple assets simultaneously.

Abcourt’s Board of Directors contributes over 200 combined years of mining, capital markets, legal, and governance expertise. Chairman Loïc Bureau, a geological engineer, leads a board that includes seasoned mining engineers, capital markets professionals, legal specialists, and senior executives with significant experience in project development. This collective expertise positions Abcourt with strong governance and strategic guidance as it ramps up production and develops its regional portfolio.

Abcourt Mines is pursuing a multi-layered growth strategy anchored by the restart of Sleeping Giant and supported by district-scale exploration and targeted resource expansion. The company’s immediate priority is increasing development and stope production to achieve steady-state throughput at the 950-tpd mill. Abcourt plans to reach approximately 2,500 ounces of gold production per month within 12 months of full ramp-up, transitioning to positive cash flow and advancing toward commercial production, targeted for 2026.

Resource expansion is central to the company’s long-term strategy. At Sleeping Giant, over 846 gold structures have been modeled from more than 1.19 million metres of drilling, with substantial high-grade zones remaining untested. Abcourt is conducting a sustained underground drill program, averaging 3,000 metres per month, aimed at upgrading inferred resources, extending mine life beyond the initial PEA horizon, and identifying new high-grade mineralized zones.

The company is also advancing the regional Flordin-Cartwright and Discovery deposits. These assets, each with NI 43-101 resource estimates, are positioned to become future satellite feed sources for the Sleeping Giant Mill. Continued surface exploration, geophysical surveys, and planned drilling campaigns are expected to refine these deposits and potentially outline new mineralized horizons along the Cameron Shear zone.

Beyond gold, Abcourt maintains optionality in zinc, silver, and copper markets through its Abcourt-Barvue, Vendôme, and Aldermac projects. While not immediate development priorities, these assets offer opportunities for future strategic partnerships or commodity-cycle-driven advancement. Collectively, the company’s strategy emphasizes responsible development, efficient use of existing infrastructure, and building a regional hub to support long-term, sustainable operations.

As of mid-2025, Abcourt Mines has strengthened its financial position through debt financing agreements totaling approximately C$16 million with Nebari and Investissement Québec. This funding has supported mine development, mill recommissioning, and early production activities at Sleeping Giant. The company reported approximately C$13 million in cash as of July 1, 2025, providing liquidity to progress near-term operational objectives.

The 2023 PEA outlined attractive economic parameters for Sleeping Giant, with an initial capital requirement of C$42 million and average annual cash flow of roughly C$30 million over the mine life at a US$1,800/oz gold price. The project’s all-in sustaining cost of US$1,120/oz places it within competitive cost tiers for underground gold operations in Quebec. Sensitivity analysis in the PEA suggests significant leverage to higher gold prices, including an after-tax NPV5% of C$90.6 million at US$2,100/oz.

Abcourt’s capital structure includes approximately 1.01 billion shares outstanding and a fully diluted count of 1.6 billion shares. The shareholder base is diversified, with 27% held by officers and directors, 34% by high-net-worth investors, and 2% by institutional shareholders, including NQ Investissement Minier. The company continues to evaluate future financing options to support its growth strategy, including potential debt facilities, equity raises, or non-dilutive partnerships tied to its advanced and base-metal assets.

Abcourt Mines Inc. is positioned to emerge as a near-term gold producer through the restart of the Sleeping Giant Mine and Mill, supported by significant existing infrastructure and a strong pipeline of exploration and development assets across Quebec’s Abitibi greenstone belt. With a fully permitted 950-tpd mill, ongoing underground development, and advancing production activities, the company is well placed to transition into cash-flow generation and extend mine life through continued resource conversion and exploration drilling.

Beyond Sleeping Giant, Abcourt controls multiple NI 43-101 compliant gold deposits, including Flordin-Cartwright and Discovery, as well as a broad portfolio of earlier-stage projects and base-metal assets that provide long-term optionality. The company’s experienced management team, supportive shareholder base, and strategic land position enable a disciplined and structured approach to district-scale development.

For investors seeking exposure to near-term gold production with substantial exploration upside, Abcourt offers a comprehensive portfolio anchored by a high-grade underground mine, robust infrastructure, and a long-term vision of establishing a central milling hub in one of Canada’s most prolific mining regions.