Abcourt Intersects 0.5 g/t Gold Over 153 Metres Including 10.9 g/t Gold Over 2.1 Metres in Drilling on Its Flordin Property

Abcourt Mines Inc. (ABI) has reported results from the first phase of its drilling program on the Flordin property in Quebec, completing eight holes for a total of 2,330 metres within a planned 20,000-metre campaign. The most significant result came from hole FL-26-306 at the South Zone, which intersected 153 metres of 0.5 g/t gold from an unspecified collar depth. This interval included 2.1 metres of 10.9 g/t gold from 224.0–226.1 metres.

In the Cartwright and Stripping 25-2 areas, other holes returned sub-1 g/t gold intervals over modest lengths ranging from 5 to 29.5 metres. These zones featured narrow higher-grade "including" intercepts grading between 1 and 3.9 g/t over 1 metre. Two holes in the Stripping 25-2 area, FL-26-302 and FL-26-303, did not encounter significant values.

The company’s release noted "tens of metres of pyrite mineralization" visually in hole FL-26-306, describing an interconnected system spanning over 2 km and characterizing the intersection as a "major gold intersection."

Abcourt Mines Inc. (ABI) operates as a hybrid explorer and producer, with its Sleeping Giant mine currently ramping up operations. The company requires high-margin ore to achieve cash-flow positivity, while the Flordin project, which is in the grassroots-to-resource stage, represents a potential catalyst for long-term asset value if a major discovery is made.

The latest drill result from Flordin does not materially alter the project’s thesis. The assay represents a single broad, low-grade hole containing a narrow high-grade core. It does not change the existing mineral resource estimate of 134,700 ounces of measured and indicated resources at 2.38 g/t, nor does it significantly de-risk the project.

Market expectations appear to have already adjusted to the company’s exploration pace. The stock price had drifted from $0.12 to $0.08 over the preceding months, a decline that continued despite the April 2026 Flordin drilling updates, which included intercepts such as 12 m @ 1.7 g/t and 7 m @ 0.8 g/t. For a junior company with a massive share count and negative equity, only bonanza-grade or genuine resource-expanding intercepts would be considered material.

Abcourt Mines Inc. (ABI) is a Canadian junior gold producer and explorer operating within Quebec’s Abitibi Greenstone Belt. Its flagship asset is the 100%-owned Sleeping Giant mine, which resumed milling operations in mid-2025, resulting in gold pours and modest commercial sales. The site has a historic production record exceeding 1 million ounces of gold. A 2023 Preliminary Economic Assessment outlined a 5.8-year mine life with an average production of 30,100 ounces per year, though the mine remains years away from reaching that steady state.

The company’s exploration portfolio includes the Flordin project (100% interest, containing 134,700 ounces of Measured and Indicated resources), the Discovery project (100% interest, containing 177,700 ounces of Measured and Indicated resources and 303,700 ounces of Inferred resources), and the past-producing Barvue Ag-Zn mine, which holds historical Measured and Indicated resources of 8.08 million tonnes at 3.06% zinc and 55.45 grams per tonne silver.

Abcourt’s capital structure includes 1.19 billion shares outstanding and 1.98 billion fully diluted shares. The company carries significant debt, including a $30 million loan from Glencore and a $12 million loan from Nebari, alongside an offtake agreement for the Sleeping Giant mine. A going concern warning has been flagged despite recent liquidity improvements.