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Abcourt Announces the Restart of the Sleeping Giant Mill

ROUYN-NORANDA, Quebec, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Company”) (TSX Venture: ABI) is pleased to announce it restarted to process gold on February 13th at its 100% owned Sleeping Giant mill. The mill operated at 20 tonnes per hour during this first week. Yesterday, the mill began to operate at its nominal rate of 32 tonnes per hour with the addition of the second ball mill. Abcourt plans to process between 600 and 800 tonnes per week initially, and gradually increase the weekly tonnage. The Company plans to complete the processing of the 5,000 tonnes bulk sample from the Pershing-Manitou deposit near the end of March.

Afterward, Abcourt plans to begin to process gold mineralized material from its Sleeping Giant mine.   During the coming months, our objective is to extract gold mineralized material from the 4 upper levels of the underground mine to feed the mill while definition and exploration drilling will be realized to prepare an updated mineral resources estimate, and subsequently, complete an economic pre-feasibility study.

Qualified Person

Mr. Pascal Hamelin, Eng, President and Chief Executive Officer of the Company, 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 Quebec, Canada. Abcourt owns the 100%-owned Sleeping Giant mill and mine where it concentrates its development activities. The Sleeping Giant property has a mining lease, as well as environmental certificates of authorization for the extraction of up to 900 tonnes per day from its underground mine.

For more information about Abcourt Mines Inc., please visit our website and view our filings under Abcourt's profile on www.sedarplus.ca.

Pascal Hamelin
President and Chief Executive Officer
T : (819) 768-2857
Courriel : phamelin@abcourt.com
Dany Cenac Robert, Investor Relations
Reseau ProMarket Inc.,
 T : (514) 722-2276, poste 456
Courriel : 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 expressions Similar. Forward-looking statements 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.


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