Abcourt Presents Operations Update for the Quarter ended March 31st, 2026, in the Development of the Sleeping Giant Mine

Operational Progress and Production Metrics

• The April 15, 2026 operations update confirms continued production growth at the Sleeping Giant Mine for the quarter ended March 31, 2026.
• Milling activity increased to 7,445 tonnes milled with a head grade of 5.2 g/t Au, yielding 1,197 ounces produced and 1,138 ounces poured.
• Recovery rates remain high at 95.8%, indicating stable mill performance following the ramp-up phase initiated in late 2024/early 2025.
• Workforce expansion continues with 143 employees on site, targeting 190 to support increased underground activity.

Validation of Financing Strategy

• The most recent news serves as a validation of the January 30, 2026 Glencore financing deal ($30M senior secured facility + 100% offtake).
• Production volumes (approx. 1,200 oz/month run rate) provide the revenue predictability required to service the SOFR + 2.5% debt and fund the NCIB buyback program.
• The transition to long-hole stoping was anticipated in previous updates (Feb/Mar 2026); therefore, this news is incremental rather than a surprise catalyst.

Sleeping Giant Mine

• Location: Abitibi Region, Quebec, Canada.
• Status: Development / Early Production. Mill is operational; underground mining transitioning to long-hole stoping.
• Infrastructure: 750 tpd fully permitted mill, surface camp (expanding to ~124 rooms), tailings facility.
• Production Guidance: Targeting steady-state production of approximately 30,000 oz Au annually based on PEA data.
• Resource Base: Measured & Indicated: 755,000 t @ 7.14 g/t Au; Inferred: 884,000 t @ 8.74 g/t Au (Dec 2022 estimate).