Abcourt hires Red Cloud for market-making services

Executive Summary

• Abcourt Mines Inc. reported its financial and operational results for the first quarter ended September 30, 2025.
• The company advanced development at its Sleeping Giant mine, including filling the mill circuit with gold, building phase 1 of the sleep camp and kitchen, and executing civil construction at the tailing facility.
• Abcourt engaged Red Cloud Securities Inc. (RCSI) to provide market-making services for its common shares on the TSX Venture Exchange, subject to exchange approval.

Key Details

• Financial Period: First quarter ended September 30, 2025.
• Operational Updates (Sleeping Giant Mine):
  • Began development of mining operations.
  • Incurred expenses related to the development of drifts and rehabilitation of already developed drifts to access planned production stopes.
  • Performed maintenance on installations and equipment.
  • Hired employees.
  • Began filling the mill's circuit with gold.
• Surface Construction:
  • Built phase 1 of the sleep camp and kitchen; commissioned on September 2.
  • Executed civil construction work at the tailing facility in preparation for winter.
  • Prepared for the next lift planned in cell 2A for the summer of 2026.
• Market Making Agreement:
  • Engaged Red Cloud Securities Inc. (RCSI) to provide market-making services.
  • Subject to approval of the TSX Venture Exchange.
  • Objective: Maintain a reasonable market and improve liquidity of common shares.
  • Compensation: No performance factors; RCSI will not receive shares or options as compensation.
  • Related Party Disclosure: Chad Williams, a director of Abcourt, is a significant shareholder of RCSI's parent company, making the transaction non-arm's length. Mr. Williams has removed himself from the delivery of these services.
  • RCSI Holdings: As of the date of the release, RCSI beneficially owns or controls 14,000 common shares and 9,891,805 securities convertible into common shares.
• Non-IFRS Measure: Working capital is presented as a performance measure (current assets less current liabilities).

Notable Quotes

• No direct quotes from the CEO or President were included in the provided text.