Abcourt Provides Sleeping Giant Project Development Update
ROUYN-NORANDA, Quebec, Sept. 09, 2025 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to provide an update on the ramp-up activities at the Sleeping Giant Project in Eeyou Istchee, Québec.
Pascal Hamelin, President and CEO of Abcourt, commented: “We are progressing very well with the project by now having the mill circuit with a full inventory. We are now increasing the gold inventory in the mill circuit. The next phase in the development of the project will be to start delivering gold bars to the market in a high gold priced environment. In the coming months, the plan is to ramp up operating the mill 40 hours per week at a rate of 30 tonnes per hour. Once we reach that level, we will increase production to 80 hours per week at the same rate of 30 tonnes per hour. Last week, we also reached an important milestone by commissioning our sleep camp. We will be able to attract more talents on our team to reach the goal of eventually produce 30,000 ounces annually.”
August Activities
- Commission the crushing and grinding circuit of the mill;
- Fill all the required tanks in the leach circuit of the mill;
- Complete the 50 rooms camp and kitchen installation;
- Start to use the tailing facility to store the pulps from the mill;
- Hire miners to operate the mine 7 days per week on two shifts.
September Outlooks
- Increase the underground development toward a first milestone of 5,000 tonnes of ore per month in the coming months. Afterward, the next goal will be to reach a steady state of 10,000 tonnes per month, as indicated in the 2023 PEA.
- Start to pour gold dore.
- Request the construction permit to expand the sleeping capacity from 50 to 100 rooms in the camp.
- Increase from two to three the diamond drills underground.
The Corporation will be attending the Mining Forum Americas 2025, from September 14 to 17, 2025, at the Broadmoor Hotel & Resort in Colorado Springs, USA, to present its achievement to the mining investment world.
Modification to the Exercise Price of Stock Options Granted on August 28, 2025
Abcourt informs that the Board of Directors of the Corporation has amended the exercise price of the 21,600,000 common share purchase options to its directors and officers, employees and consultants, announced by press release dated August 28, 2025. The amended exercise price per common share was fixed at $0.08 instead of $0.07.
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 www.abcourt.ca and view our filings under Abcourt's profile on www.sedarplus.ca.
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Pascal Hamelin President and CEO T : (819) 768-2857 Email: phamelin@abcourt.com |
Dany Cenac Robert, Investor Relations Reseau ProMarket Inc. T : (514) 722-2276, poste 456 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 expected use of the proceeds from the Financing Facility 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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