Abasca Resources Announces Assay Results from the Summer 2025 Drill Program and Start of Winter Drilling at its Loki Flake Graphite Deposit

SASKATOON, SK / ACCESS Newswire / February 9, 2026 / Abasca Resources Inc. ("Abasca" or the "Company") (TSXV:ABA) is pleased to release assay results from the in-fill drilling component of its summer 2025 program at its Loki Flake Graphite Deposit (Loki Deposit) at its 100%-owned Key Lake South (KLS) Project (Figure 1, Figure 2). This component of the summer program was designed with the intent to upgrade the mineral resource classification of the initial 11.31 Mt inferred flake graphite resource at 7.65 % Cg1 which was derived principally from the results of the 2024 summer drill program. The in-fill drilling was conducted in conjunction with the geotechnical drilling completed at the beginning of the summer program (refer to the Company's release on September 8, 2025). A total of 6,210 m over 27 holes was completed for in-fill drilling, resulting in graphite mineralization intersections of up to 62.10 m at 9.43 % Cg (KLS-25-095). Locations and orientations of drillholes from the in-fill program included in this release are listed in Table 1 and their assay results are shown in Table 2. Assay Highlights KLS-25-095: 62.10 m at 9.43 % Cg, including 9.1 m at 14.18 % Cg KLS-25-097: 56.00 m at 9.49 % Cg, including 10.0 m at 12.93 % Cg and 7.0 m at 13.91 % Cg KLS-25-101: 49.70 m at 10.11 % Cg, including 7.0 m at 15.07 % Cg KLS-25-096: 47.80 m at 8.06 % Cg, including 10.0 m at 13.70 % Cg KLS-25-085: 46.72 m at 9.39 % Cg, including 9.0 m at 15.26 % Cg The Company also announces the commencement of its 2026 winter drill program at KLS. The program has three objectives: 1) continue to extend the Loki Deposit toward the southeast at 100 x 100 m grid-spacing, 2) geotechnical and hydrogeological drilling to support the Loki Deposit's development, and 3) exploration drilling at the Thor Zone. Brian McEwan, Vice-President of Exploration commented "The assay results from the summer in-fill program reaffirm the consistency of the graphite mineralization at the Loki Deposit. These results provide us with even more confidence as we continue to develop this amazing resource in Saskatchewan's north. We will continue to focus our efforts on completing the technical field work that will support the next stages of the project. At the same time, we are excited to conduct additional drilling at the Thor Zone that is parallel to the Loki Deposit." Collected samples were sent to SRC Geoanalytical Laboratories in Saskatoon, Saskatchewan, an independent laboratory accredited under ISO/IEC 17025:2017 for preparation and ICP-MS multi-element analysis, boron by fusion as well as graphite content (% Cg) and total sulphur by LECO. Samples were collected in accordance with industry-standard quality assurance / quality control practices and included the insertion of blanks, standard reference materials, and repeats into the sample stream at regular intervals. Samples were also collected for in-field and lab density measurements at regular intervals and through the mineralized zones. For more information on the Loki Flake Graphite Deposit and an overview of the Key Lake South Project, please visit the Company's website at https://www.abasca.ca. Table 1: Locations and orientations of drillholes included in this release. Coordinates are in UTM NAD 83 Zone 13N and all lengths are measured in metres. Drillhole ID Easting Northing Elevation Azimuth Inclination Total Length KLS-25-077 444895 6330794 566 35 -90 241 KLS-25-078 445384 6330185 554 35 -60 362 KLS-25-079 445592 6330304 554 325 -90 255 KLS-25-080 445467 6330128 554 35 -60 347 KLS-25-081 446015 6330048 545 35 -90 198 KLS-25-082 445663 6330236 554 35 -60 184 KLS-25-083 445500 6330350 555 35 -60 191 KLS-25-084 445610 6330335 554 35 -60 143 KLS-25-085 445579 6330292 554 35 -60 189 KLS-25-086 445553 6330251 554 35 -60 230 KLS-25-087 445777 6330220 559 35 -60 164 KLS-25-088 445743 6330175 556 35 -60 200 KLS-25-089 445715 6330134 556 35 -60 218 KLS-25-090 445694 6330093 555 25 -60 233 KLS-25-091 445647 6330124 555 35 -60 251 KLS-25-092 445704 6330208 555 38 -60 192 KLS-25-093 445695 6330278 555 37 -60 138 KLS-25-094 445636 6330194 553 37 -60 215 KLS-25-095 445606 6330152 554 35 -60 256 KLS-25-096 445565 6330182 555 35 -60 296 KLS-25-097 445622 6330265 555 37 -60 200 KLS-25-098 445444 6330267 555 35 -60 260 KLS-25-099 445483 6330241 553 35 -60 299 KLS-25-100 445539 6330321 553 35 -60 191 KLS-25-101 445548 6330069 556 35 -60 345 KLS-25-102 445419 6330409 558 39 -60 164 KLS-25-103 445363 6330327 557 38 -60 248 Figure 1: Map of the Key Lake South Project area showing the location of the Loki Flake Graphite Deposit. Figure 2: Map of the area around the Loki Flake Graphite Deposit area showing the drillhole locations from this release as well as previous drillholes. Table 2: Drillholes and their composited graphite intersections. All lengths are as measured downhole and do not represent true thickness. Composite intervals are calculated using a 3.0 % Cg cut-off and may include a maximum of 2.0 m internal dilution. Drillhole ID From To Length Cg % S % KLS-25-077 77.50 81.00 3.50 3.30 0.42 95.00 98.00 3.00 3.47 0.51 103.00 104.00 1.00 3.54 0.41 116.50 120.00 3.50 2.86 0.51 149.50 159.00 9.50 5.87 0.60 KLS-25-078 299.55 339.00 39.45 5.37 1.02 Including 304.00 306.00 2.00 13.05 308.00 309.00 1.00 11.20 KLS-25-079 172.65 218.70 46.05 8.47 1.52 Including 172.65 175.30 2.65 12.35 175.90 178.00 2.10 13.38 179.00 179.60 0.60 10.30 183.00 184.00 1.00 11.80 188.00 192.00 4.00 15.90 193.00 194.00 1.00 13.50 197.00 199.00 2.00 11.20 202.00 204.00 2.00 13.15 KLS-25-080 251.00 252.00 1.00 3.20 0.74 270.75 273.00 2.25 8.01 1.92 279.00 322.00 43.00 7.55 1.23 Including 279.00 282.00 3.00 14.50 287.00 292.00 5.00 15.38 316.00 317.00 1.00 10.20 320.00 322.00 2.00 14.80 KLS-25-081 58.00 59.00 1.00 3.10 0.60 98.00 123.00 25.00 8.20 1.31 Including 98.50 99.00 0.50 10.00 113.50 115.00 1.50 11.88 116.00 122.00 6.00 12.51 KLS-25-082 118.60 149.00 30.40 8.49 1.11 121.00 131.00 10.00 13.33 164.00 165.00 1.00 5.40 0.07 KLS-25-083 114.75 156.00 41.25 7.91 1.13 Including 116.00 117.00 1.00 11.10 117.50 122.00 4.50 12.34 123.00 125.00 2.00 11.20 129.00 131.00 2.00 13.25 142.00 143.00 1.00 15.40 KLS-25-084 71.00 115.40 44.40 8.57 1.12 Including 71.00 72.00 1.00 10.40 73.00 78.00 5.00 15.64 79.00 83.00 4.00 14.75 89.00 90.00 1.00 10.70 94.00 95.00 1.00 11.80 107.00 108.00 1.00 11.30 KLS-25-085 114.28 161.00 46.72 9.39 1.22 Including 115.00 118.00 3.00 13.77 120.00 129.00 9.00 15.26 135.00 136.00 1.00 10.30 138.00 140.00 2.00 11.15 141.00 142.00 1.00 14.80 150.00 151.00 1.00 13.90 KLS-25-086 167.50 193.00 25.50 7.82 1.44 Including 170.00 171.00 1.00 11.80 173.00 175.00 2.00 13.65 178.00 179.00 1.00 11.30 197.00 199.00 2.00 5.39 0.85 KLS-25-087 116.00 135.10 19.10 8.12 0.97 Including 116.00 118.00 2.00 13.95 119.00 121.00 2.00 12.30 122.00 123.00 1.00 12.50 125.00 127.00 2.00 13.00 KLS-25-088 148.50 165.00 16.50 10.68 1.70 Including 148.50 149.00 0.50 11.10 150.00 154.00 4.00 12.25 155.00 160.00 5.00 13.48 164.00 165.00 1.00 11.40 168.00 170.00 2.00 5.00 0.70 KLS-25-089 172.30 197.00 24.70 10.82 1.88 Including 172.30 173.00 0.70 13.60 175.00 189.00 14.00 13.68 195.00 196.00 1.00 11.30 KLS-25-090 191.25 213.00 21.75 9.66 1.51 Including 191.25 192.00 0.75 12.40 193.00 199.00 6.00 13.75 201.00 206.00 5.00 13.58 KLS-25-091 188.00 209.30 21.30 9.80 1.86 Including 188.00 190.00 2.00 12.35 193.00 194.00 1.00 12.90 196.00 198.00 2.00 12.30 199.00 203.00 4.00 15.30 207.00 208.00 1.00 12.70 KLS-25-092 131.20 154.00 22.80 9.11 1.55 Including 131.20 132.00 0.80 13.50 133.00 135.00 2.00 11.70 136.00 137.00 1.00 15.80 139.00 143.00 4.00 12.58 165.00 166.00 1.00 3.91 0.09 KLS-25-093 84.00 115.00 31.00 6.94 0.93 Including 84.00 85.00 1.00 10.10 87.00 88.00 1.00 12.00 90.00 94.00 4.00 12.10 122.00 123.00 1.00 3.20 0.15 KLS-25-094 147.50 187.50 40.00 9.25 1.56 Including 147.50 148.00 0.50 11.95 151.00 153.00 2.00 11.75 154.00 156.00 2.00 10.30 157.00 161.00 4.00 12.85 162.00 166.00 4.00 14.10 169.00 171.00 2.00 13.45 177.00 178.00 1.00 11.30 180.00 181.00 1.00 11.30 KLS-25-095 174.90 237.00 62.10 9.43 1.87 Including 174.90 184.00 9.10 14.18 194.00 199.00 5.00 13.96 200.00 201.00 1.00 10.10 204.00 207.00 3.00 11.83 208.00 210.00 2.00 11.40 211.00 215.00 4.00 13.25 222.00 223.00 1.00 11.20 228.00 229.00 1.00 11.80 KLS-25-096 197.60 245.40 47.80 8.06 1.45 Including 198.50 199.00 0.50 11.00 202.00 205.00 3.00 11.70 207.00 217.00 10.00 13.70 KLS-25-097 100.00 156.00 56.00 9.49 1.56 Including 100.00 104.00 4.00 11.38 105.00 109.00 4.00 10.38 111.00 121.00 10.00 12.93 127.00 130.00 3.00 10.80 134.00 141.00 7.00 13.91 145.00 146.00 1.00 11.90 KLS-25-098 191.20 239.00 47.80 8.01 1.28 Including 192.00 199.00 7.00 14.03 200.00 201.00 1.00 14.90 202.00 208.00 6.00 14.77 235.00 236.00 1.00 11.70 237.00 238.00 1.00 11.40 KLS-25-099 217.05 243.00 25.95 8.39 1.20 Including 218.00 225.00 7.00 13.60 236.00 239.00 3.00 12.33 KLS-25-100 117.00 162.00 45.00 7.39 1.18 Including 117.00 119.00 2.00 11.10 120.00 122.00 2.00 14.40 136.00 141.00 5.00 13.04 146.00 147.00 1.00 10.80 160.00 161.00 1.00 10.20 KLS-25-101 250.00 251.00 1.00 3.27 0.27 270.00 272.00 2.00 8.34 0.88 276.30 326.00 49.70 10.11 1.66 Including 276.30 277.00 0.70 11.60 281.00 282.00 1.00 13.90 286.00 287.00 1.00 12.10 292.00 293.00 1.00 11.60 294.00 296.00 2.00 13.95 297.00 299.00 2.00 13.50 303.00 305.00 2.00 11.95 306.00 313.00 7.00 15.07 316.00 318.00 2.00 11.65 320.00 325.00 5.00 14.04 KLS-25-102 80.20 131.90 51.70 7.41 0.96 Including 83.00 87.00 4.00 12.90 91.00 93.00 2.00 15.05 102.00 107.00 5.00 11.74 117.00 118.00 1.00 10.10 KLS-25-103 175.00 229.00 54.00 7.41 1.34 Including 176.00 180.00 4.00 15.65 188.00 190.00 2.00 14.00 191.00 193.00 2.00 12.55 194.00 195.00 1.00 16.60 218.00 219.00 1.00 10.80 223.00 225.00 2.00 11.00 ____________________________ [1] Please refer to the technical report dated May 29, 2025, with an effective date of April 10, 2025 and titled "Technical Report on the Key Lake South Project with Initial Mineral Resource Estimate for the Loki Flake Graphite Deposit, Saskatchewan, Canada" filed under the Company's profile on the SEDAR+ website for further information about the resource estimate. Qualified Person The technical information in this news release has been reviewed and approved by Brian McEwan, P.Geo., a Qualified Person as set out in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. McEwan is the Vice-President of Exploration at Abasca. About Abasca Resources Inc. Abasca is a mineral exploration company that is primarily engaged in the acquisition and evaluation of mineral exploration properties. The Company owns the Key Lake South Project (KLS), a 23,977-hectare exploration project located in the Athabasca Basin Region in northern Saskatchewan, approximately 15 km south of the former Key Lake mine and current Key Lake mill. The project possesses geological similarities and along strike of past Key Lake Mine with prospective conductors of over 50 km for potential uranium mineralization. KLS is also host to the Loki Flake Graphite Deposit comprising a total inferred resource of 11.31 Mt at 7.65 % Cg. Please refer to the technical report dated May 29, 2025, with an effective date of April 10, 2025 and titled "Technical Report on the Key Lake South Project with Initial Mineral Resource Estimate for the Loki Flake Graphite Deposit, Saskatchewan, Canada" filed under the Company's profile on the SEDAR+ website for further information about the resource estimate. On behalf of Abasca Resources Inc. Dawn Zhou, M.Sc, CPA President, CEO and Director For more information visit the Company's website at https://www.abasca.ca or contact: Abasca Resources Inc. Email: [email protected] Telephone: +1 (306) 933 4261 Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release. Forward-Looking Statements This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Forward-looking information reflects management's current beliefs with respect to future events and is based on information currently available to management. Forward-looking information contained in this press release includes, but is not limited to, statements relating to the mineral resource estimate for the Loki Deposit, the high grade zones identified in the winter program adding to the mineral resource estimate and the advancement of the Loki Deposit towards the next stages of development. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. Abasca undertakes no obligation to comment on analyses, expectations, or statements made by third parties in respect of Abasca, its securities, or financial or operating results (as applicable). Although Abasca believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors, and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks, uncertainties and factors, certain of which are beyond Abasca's control, including the impact of general business and economic conditions; risks related the exploration activities to be conducted on KLS, including risks related to government and environmental regulation; actual results of exploration activities; industry conditions, including uranium and graphite price fluctuations, interest and exchange rate fluctuations; the influence of macroeconomic developments; business opportunities that become available or are pursued; title, permit or license disputes related to KLS; litigation; fluctuations in interest rates; and other factors. In addition, the forward-looking information is based on several assumptions which may prove to be incorrect, including, but not limited to, assumptions about the availability of qualified employees and contractors for the Company's operations and the availability of equipment. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. Abasca disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. SOURCE: Abasca Resources Inc. View the original press release on ACCESS Newswire