Abitibi completes phase 2 of B26 project option

Executive Summary

• Abitibi Metals Corp. completed the second phase of its option agreement with Soquem Inc., securing an additional 30% undivided interest to reach 80% ownership of the high-grade B26 copper-gold project in Quebec.
• The project will be advanced through a joint venture with Abitibi as the 80% operator and Soquem retaining a 20% participating interest, with all major decisions overseen by a joint management committee.
• The company announced a fully funded 40,000-metre drilling program for 2026 and a comprehensive technical evaluation program to advance the project toward economic studies and permitting milestones.

Key Details

• Option Exercise & Consideration: Early exercise of option agreement completed by fulfilling all earn-in metrics, including exploration expenditures and the issuance of 3,793,864 common shares.
• Joint Venture Structure: Abitibi holds 80% interest and acts as project operator/manager; Soquem retains 20% participating interest. Exploration programs, technical studies, and project budgets require joint management committee approval.
• 2026 Drilling Program: Fully financed 40,000-metre campaign planned to expand the current resource base, increase confidence via infill drilling, and test additional targets across the broader project area.
• Technical & Development Work: Comprehensive program includes metallurgical optimization, geotechnical and hydrogeological studies, environmental baseline work, and preliminary mine planning to support future economic evaluation and permitting.
• Resource Growth: 124% increase in the mineral resource estimate achieved in less than three years.
• Equity Incentive Grants: Granted 1.05 million incentive stock options to directors and officers (exercisable at $0.85 per share, 5-year term, vesting per company policy) and 1.1 million restricted share units (RSUs) to officers and directors (vesting equally over three years).
• Corporate Materials: Updated corporate presentation released outlining the 2026 exploration strategy, key project milestones, and development timelines.
• Qualified Person: Technical information reviewed and approved by Laurent Eustache, Geo, Executive Vice-President, per National Instrument 43-101.