Abitibi Metals Acquires Full Ownership of B26 Polymetallic Deposit & Establishes Selbaie Camp Consolidation Platform

• Abitibi Metals has entered into a definitive agreement to acquire Société québécoise d'exploration minière's (SOQUEM) remaining 20% interest in the B26 Polymetallic Deposit, bringing the company to 100% ownership of its flagship northwestern Quebec asset.
• Total initial consideration is approximately C$7 million, comprising C$5 million in cash and C$2 million in Abitibi Metals shares, with two further milestone payments of C$6 million each tied to the feasibility and construction decision stages.
• The B26 resource has grown 124% since Abitibi's initial option in 2023 and now totals 25.3 million combined tonnes of polymetallic mineralisation across the Indicated and Inferred categories.
• Abitibi has secured a 10-year right of first refusal on SOQUEM's Wagosic and Carheil properties within the Selbaie Camp, alongside a joint technical committee to evaluate shared infrastructure and processing opportunities across the assets.
• Abitibi is launching its largest drill programme in company history, concurrent with the transaction, with the B26 deposit remaining open both laterally and at depth.

About Abitibi Metals Corp.

Abitibi Metals Corp. (CSE: AMQ | OTCQB: AMQFF | FSE: FW0) is a mineral exploration and development company focused on advancing the B26 Polymetallic Deposit in the Selbaie Mining Camp of northwestern Quebec. The company's portfolio also includes the Beschefer Gold project, where historical drilling has identified four notable intercepts across four modelled zones, including 55.63 grams per tonne gold over 5.57 metres and 13.07 grams per tonne gold over 8.75 metres. 

Achieving Full Ownership of B26

The acquisition removes the joint venture structure in place since Abitibi's initial option agreement with Société québécoise d'exploration minière (SOQUEM) in 2023, giving the company complete authority over B26's future development. Full ownership simplifies governance, broadens financing and partnership options, and grants direct control over infrastructure planning and development timelines.

President and Chief Executive Officer of Abitibi Metals, Jon Deluce, said:

"Securing 100% ownership of B26 represents a transformative milestone for Abitibi Metals," 

Deluce acknowledged SOQUEM's contribution to building the asset to its current scale: 

"We are grateful to SOQUEM for their partnership and the foundational work they have done at B26. Without their exploration efforts and stewardship of the deposit, Abitibi would not be in the position it is today."

Transaction Structure

Abitibi will pay C$5 million in cash on closing, payable within 90 days and subject to reduction by an amount equal to 20% of any additional exploration expenditures attributable to SOQUEM's interest, along with C$2 million in Abitibi Metals shares, for a total initial consideration of approximately C$7 million. Two subsequent milestone payments of C$6 million each, split equally between cash and shares, are due at the feasibility study stage or within a maximum of 3 years post-closing, and at the construction decision stage or within a maximum of 5 years post-closing.

SOQUEM retains a 1% net smelter return royalty on B26, replacing the royalty arrangement from the 2023 joint venture agreement. Should Milestone 1 be missed, SOQUEM would receive an additional 1% net smelter return royalty and a 12% project interest; should Milestone 2 be missed, an additional 0.5% net smelter return royalty and a 6% project interest would apply. Abitibi holds the right to repurchase any additional net smelter return royalty for C$2 million.

Resource Base

B26 holds a resource of 12.96 million tonnes grading 2.08% copper equivalent in the Indicated category and 12.34 million tonnes grading 2.20% copper equivalent in the Inferred category, for a combined 25.3 million tonnes. Indicated grades include 1.19% copper, 1.16% zinc, 0.44 grams per tonne gold, and 30.8 grams per tonne silver; Inferred grades include 1.60% copper, 0.16% zinc, 0.68 grams per tonne gold, and 8.1 grams per tonne silver. The estimate was prepared by SGS Canada Inc. in accordance with NI 43-101 standards, with an effective date of November 2025.

The resource has grown 124% since Abitibi first optioned B26 in 2023. 

Deluce commented:

"Over the past two years, we have increased the B26 resource by 124%, assembled a highly experienced technical team, and established a clear roadmap toward development."

Selbaie Camp Consolidation

B26 is located 7 kilometres southeast of the formerly producing Selbaie Mine, whose existing infrastructure may support future development planning. Alongside the acquisition, Abitibi has secured a 10-year right of first refusal on SOQUEM's wholly-owned Wagosic and Carheil properties, which lie within or in close proximity to B26. A joint technical committee will be established to evaluate shared infrastructure and processing opportunities across the assets, with initial metallurgical test work on blended material from B26 and the Wagosic property representing one of the first steps.

Deluce outlined the camp-level rationale:

"Equally important, this agreement establishes a strategic framework for future consolidation opportunities across the Selbaie Camp. We believe B26 has the potential to become the cornerstone asset of a much larger regional development platform, and this transaction positions us to evaluate those opportunities from a position of strength."

Drilling Programme

Abitibi is concurrently launching its largest drill programme in company history, with active drilling already delivering high-grade results. The deposit remains open both laterally and at depth. Reflecting the ownership milestone, Deluce said: "With full ownership now secured, we have complete control over the future direction of the project and the ability to maximise value for our shareholders."

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