Progress report on the work carried out at the Sleeping Giant mine


Rouyn-Noranda, Quebec, Canada – The press wire – September 13, 2021

Mines Abcourt inc. (TSXV: ABI) (Berlin: AML-BE) and Frankfurt Stock Exchanges: (FSE:LAB-FF) (“Abcourt“or the company), Mines Abcourt reports on the progress of the work carried out at the Sleeping Giant mine.

Rehabilitation and development work at the Sleeping Giant mine is continuing but at a slower pace than expected due to a labor shortage. A recurring request from potential candidates concerns accommodation. To meet this need, various measures have been put in place.

In order to provide accommodation, the corporation owns 3 mobile homes divided into bedrooms and has converted two offices into bedrooms in Sleeping Giant’s office. This initiative enabled us to hire 13 minors. The Corporation has two other mobile homes which will be converted into 4 apartments (2 bedrooms each) to accommodate additional workers. We continue to innovate to find ways that will allow us to hire the workers we need.

As it is easier to recruit mechanics, welders and electricians at Elder due to a larger population pool around Rouyn-Noranda, we will repair at Elder the Sleeping Giant mobile equipment, namely locomotives, cars , loaders, slip winches, etc. faster and more efficiently. In addition, the space now used for the mine store will be converted into a welding shop. A new building will be constructed for a new mining store.

To broaden our recruiting base, we pay an allowance to those who come from remote areas. At the Elder mine, we have about 20 employees who benefit from this allowance. It is also available to Sleeping Giant employees.

Our human resources manager, Stéphane Mercier, focuses on recruiting new employees. You can call him at (819) 768-2857, or send an email to [email protected].

DEVELOPMENT

The development work is directed in priority towards important mineral resources. The goal is to produce ore as quickly as possible. Currently, most of the work is done on levels 235 and 295. Over the next few months, it will be necessary to recruit additional miners and open levels 355, 415 and 485.

In recent months, definition drilling has been carried out to prepare site plans. At level 235, in zone 3, the indicated resources according to the Nile 43-101 are of the order of 16,000 tonnes with a grade close to 11g / t gold. About twenty holes drilled in this sector have located an extension of this zone, at least as important as that known, according to our geological engineer. The test results will be published when the usual control tests are performed.

ABOUT ABOURT MINES INC.

Mines Abcourt Inc. is a Canadian gold producer and exploration company with properties strategically located in northwestern Quebec, Canada. The Elder property has gold resources (2018). Abcourt is currently focused on operating the Elder mine and developing the Sleeping Giant mine.

In 2016, Abcourt acquired the Sleeping Giant mine and plant, located halfway between Amos and Matagami, in Abitibi, Quebec, in the territory covered by the Plan Nord of the Government of Quebec. The plant has a capacity of 700 to 750 tons per day. A mineral resource assessment, according to NI 43-101 was prepared by Mr. Valère Larouche, consulting engineer in geology. It was deposited on Sedar on May 13, 2019. Measured mineral resources total 10,900 tonnes grading 12.20 g / t gold and indicated resources total 475,625 tonnes grading 11.20 g / t Golden. Inferred resources are 93,100 tonnes grading 11.85 g / t gold. An NI 43-101 feasibility study was completed in July 2019 by PRB Mining Services Inc. The probable reserves according to MI 43-101 were estimated at 339,221 tonnes with a grade of 7.9 g / t gold.

A resource estimate for the Abcourt-Barvue property was prepared in accordance with NI 43-101 by Jean-Pierre Bérubé, geological engineer in 2014. This estimate indicated 8,083,000 tonnes of measured and indicated resources with a grade of 55. 45 g / t silver and 3.06% zinc. A feasibility study was carried out in 2007, according to the NI 43-101 standard by Roche / Genivar. And an update was made to NI 43-101 by PRB Mining Services Inc. in 2018. Proven and Indicated resources total 8,074,162 tonnes grading 51.79 g / t silver and 2, 83% zinc, of which 6,589,361 (81.6%) tonnes can be mined in the open pit and 1,454,801 (18.4%) tonnes can be mined underground.

This press release was prepared by Mr. Renaud Hinse, engineer and president of Mines Abcourt inc. Mr. Hinse is a “qualified person” under NI 43-101. Mr. Hinse has approved the contents of the disclosure in this press release.

For the long term in gold, the Company has prepared an exploration program of $ 2M, mainly for the Sleeping Giant mine where important gold mineralization targets have not yet been explored.

To learn more about Mines Abcourt Inc. (TSXV: ABI), please visit our website at www.abcourt.com and consult our files under Abcourt’s profile on www.sedar.com

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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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