Abcourt Announces Increase to Loan Financing With Nebari to Accelerate Sleeping Giant Mine Development

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ROUYN-NORANDA, Quebec, Sept. 10, 2025 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to announce that it has entered into an amended credit agreement (the “Loan Agreement”) with Nebari Natural Resources Credit Fund II, LP (the “Lender” or “Nebari”) pursuant to which an additional USD$2,000,000 is made available as a loan to the Corporation (the “Upsized Loan”).

Pursuant to the Upsized Loan, the aggregate amount borrowed from the Lender is USD$10,000,000 (the “Principal Amount”), in two tranches of: (i) USD$8,000,000 on July 3, 2025 (“Tranche 1”); and (ii) USD$2,000,000 on the date hereof (“Tranche 2”). Other than the addition of Tranche 2, no other material changes have been made to the original loan agreement between the Corporation and Nebari. Please see Abcourt’s news release dated July 3, 2025 for further details regarding the original loan agreement and Tranche 1.

Abcourt expects to use the proceeds from the Upsized Loan to accelerate the development of its Sleeping Giant Mine. In the coming months, this will involve adding a third underground diamond drill to increase the expansion of the mineral resources at Sleeping Giant and accelerating phase 2 at the sleep camp.

Pascal Hamelin, President and CEO of Abcourt, commented: “The partnership with Nebari is great. We’re aligned in the successful development of the Sleeping Giant Mine and talking with mining knowledgeable individuals who understand the opportunities within our business are important. They immediately saw that by increasing the number of workers sleeping on site will reduce the transportation and offsite lodging cost as well as accelerating the development underground. ”

Steven Bowles, Managing Director of the Lender, commented: " Nebari is pleased to upsize our loan to Abcourt in support of advancing the development of its Sleeping Giant Mine. The team has an operational readiness plan which positions the project well to achieve its ramp-up objectives in a very favorable gold price environment."

In connection with the closing of the Upsized Loan, the Corporation issued 14,905,298 non-transferable warrants (the “Warrants”) to the Lender. Each Warrant is exercisable for one common share of the Corporation (a “Warrant Share”) at an exercise price of $0.093 per Warrant Share until July 3, 2028, subject to a pro-rata reduction if the Principal Amount is prepaid in whole or in part before July 3, 2026. In such case, a pro rata number of Warrants will have their term reduced to the later of July 3, 2026 and 30 days from the date of such Principal Amount reduction or repayment, in accordance with the policies of the TSX Venture Exchange (“TSXV”).

The Upsized Loan and the issuance of the Warrants are subject to the approval of the TSXV. The Warrants (and the Warrant Shares issuable upon the exercise thereof) are subject to a statutory hold period of four months and one day under applicable securities laws. These securities have not been, nor will they be, registered under the U.S. Securities Act, or any state securities law, and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration or an exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The Lender is at arms-length to the Corporation.

ABOUT ABCOURT MINES INC.

Abcourt Mines Inc. is a Canadian development 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.

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 Upsized Loan and the 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 www.sedarplus.ca. Although Abcourt believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, 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. 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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