Abcourt Mines builds ore stockpile at Sleeping Giant

Executive Summary

• Abcourt Mines reports successful ramp‑up of the Sleeping Giant project following financing closure in early July.
• Key construction milestones achieved in July include a 1,000‑tonne surface stockpile, first underground stope blast, and start of a 50‑person dormitory with utilities installation underway.
• August plans focus on increasing underground production, commissioning the crushing plant, and bringing grinding and leaching circuits online to feed the mill.

Key Details

• Financing: Project ramp‑up began after closing financing with Nebari in early July (details of the financing not disclosed).
• July Activities – Surface: Built a surface stockpile of ~1,000 t of ore between mine and mill.
• July Activities – Underground: First stope blasted; rehabilitation of underground openings commenced to prepare for mining.
• Dormitory Construction: Initiated construction of a 50‑person dormitory; utilities installation in progress with first occupants expected in August; phase‑2 permitting underway to expand capacity to 100 rooms.
• Worker Accommodation: Current dormitory sized for up to 100 workers on a 7‑day‑in/7‑day‑out schedule; additional staff will remain lodged in Amos until phase 2 is completed.
• Tailings Facility Work: Commenced tailings facility construction; management team will operate the facility annually from May–October. New environmental certificate of authorization (issued Spring 2025) permits pulp storage through 2032 at a mining rate of 100,000‑125,000 t/yr of ore.
• August Outlook – Production: Plan to increase underground activities to supply the mill with ore.
• August Outlook – Processing: Commissioning of crushing plant; commissioning of grinding and leaching circuits to integrate with existing mill circuit.

Notable Quotes

“We had a very good start of the project as soon as we completed the financing with Nebari in early July… Over all, we're all excited to start the development and ramp‑up of the project.” – Pascal Hamelin, President & CEO

Qualified Person: Pascal Hamelin, Eng., President & CEO, qualified under NI 43‑101.