Abcourt Reports First Quarter Operations Update For The Sleeping Giant Mine Development

2025-10-14 07:01:51

(MENAFN- GlobeNewsWire - Nasdaq) ROUYN-NORANDA, Canada, Oct. 14, 2025 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“ Abcourt ” or the“ Corporation ”) (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to present its first quarter operations report for the development of the Sleeping Giant Mine located in the Eeyou Istchee region of Quebec.

Abcourt began to process materials in mid-August at its 100% owned Sleeping giant Mill from the underground mine directly underneath the mill. Between mid-August and the end of September, Abcourt began to fill the mill's circuit with gold. The circuit consists of leach tanks filled with pulps and carbons. This is where the chemical reaction takes the gold out of the pulp. The long-term goal is to recover 95% of the gold coming in the circuit. Over time, the gold in the circuit will stabilize and the quantity of gold coming into the circuit will be very similar to the gold being shipped to the market with a 95% recovery.

Underground, starting in July, Abcourt began the development of drifts and rehabilitated already developed drifts to access the production stopes planned in the preliminary economic assessment for the coming years. In August, production began from the first stope. Abcourt plans to produce from three stopes within the coming 12 months. The material hoisted to surface and delivered to the mill during the quarter came from development areas, remnant areas, and the first stope.

On surface, Abcourt built phase 1 of the sleep camp and kitchen during the quarter. They were commissioned on September 2^nd. Abcourt also executed civil construction work at the tailing facility in preparation for the Winter and the preparation for the next lift planned in cell 2A for the Summer 2026.

Pascal Hamelin, President and CEO states:“I am very proud of what we accomplished in the first three months of the development phase of our project. The operating team was ready to immediately start when we completed the funding with Nebari in early July. Many small projects, too numerous to list, were all initiated in the last quarter to allow the start of underground drift development, begin the processing of gold in the mill, and finally, pour a first dore bar before the end of the quarter. It takes full commitment from all the employees to achieve these milestones. The goal in the coming quarters is to continue the ramp up toward full commercial production status.”

First Quarter Summary

	Q1 Results	YTD Results
Diamond Drilling (m)	6,467	6,467
Underground Rehabilitation (m)	1,703	1,703
Underground Development (m)	71.1	71.1
Tonnes Milled (tonnes)	3,511	3,511
Mill Head Grade (g/t)	5.88	5.88
Ounces Milled (oz)	664	664
% Recovered	94.9%	94.9%
Ounces Produced (oz)	630	630
Ounces Sold (oz)	26	26

The gold inventory in the circuit at the end of the quarter was 604 ounces.

The silver ounces in the circuit are not assayed.

The silver ounces are recovered with the gold at the refinery and sold with the gold to the market.

Figure 1: gold bar from Sleeping Giant Mine

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 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 and view our filings under Abcourt's profile on

Pascal Hamelin President and CEO T : (819) 768-2857 Email: ...		Dany Cenac Robert, Investor Relations Reseau ProMarket Inc. T : (514) 722-2276, poste 456 Email : ...

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 . 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.

A photo accompanying this announcement is available at

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