Abasca Resources Announces Engagement of High Grade Mining Consulting Ltd. and Non-Brokered Private Placement of up to $3.0 Million

Executive Summary

• Abasca Resources Inc. engaged High Grade Mining Consulting Ltd., led by Gary Haywood, P.Eng., to provide strategic technical consulting for the Loki Flake Graphite Deposit and assist in preparing a Preliminary Economic Assessment (PEA).
• The company announced a non‑brokered private placement of up to 12 million flow‑through common shares at $0.25 per share, targeting gross proceeds of up to $3.0 million to fund exploration on the Loki Deposit.
• Finder’s fees of up to 6% of gross proceeds may be paid; all securities will be subject to a four‑month‑plus hold period and closing is contingent on TSX Venture Exchange approval.

Key Details

• Technical Consulting Engagement
• Consultant: High Grade Mining Consulting Ltd., led by Gary Haywood, P.Eng.
• Scope: Strategic technical consulting for the 100% owned Loki Flake Graphite Deposit; assistance with preparation of an upcoming Preliminary Economic Assessment (PEA).

• Haywood’s background includes VP Project Development at Fission Uranium Corp., VP Operations & COO at Golden Band Resources, and senior engineering roles at Cameco Corp.

• Private Placement

• Offering: Up to 12,000,000 common shares (“FT Shares”).
• Price per FT Share: $0.25.
• Structure: Flow‑through shares (eligible for Canadian tax deductions under the Income Tax Act).
• Gross proceeds target: $3.0 million.
• Use of proceeds: Exploration activities on the Loki Deposit, including incurring “Canadian exploration expenses” that may be renounced as flow‑through mining expenditures or critical mineral mining expenditures.
• Finder’s fees: Up to 6.0% of gross proceeds payable to finders who introduce investors.
• Hold period: Shares subject to a hold period expiring four months and one day after the closing date.

• Closing condition: Subject to receipt of TSX Venture Exchange approval.

• Qualified Person

• Technical information reviewed and approved by Brian McEwan, P.Geo., Vice‑President of Exploration (NI 43‑101 Qualified Person).

Notable Quotes

• “We are delighted to bring Gary Haywood and High Grade Mining Consulting on board at this pivotal time for Abasca. Gary's deep expertise in mine planning and his track record of successfully advancing projects in northern Saskatchewan make him an invaluable consultant to the Company.” – Dawn Zhou, President & CEO, Abasca Resources Inc.

All non‑material boilerplate, forward‑looking statements, and disclaimer text have been omitted for brevity.