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Abasca Resources Announces Assay Results from the Summer 2025 Drill Program and Start of Winter Drilling at its Loki Flake Graphite Deposit

Drill Results Exploration Programs

NEWS RELEASE

Abasca Resources Announces Assay Results from the Summer 2025 Drill Program and Start of Winter

Drilling at its Loki Flake Graphite Deposit

Abasca Resources Inc. – News Release 2026-01 February 9, 2026

#208 – 311 4th Avenue North, Saskatoon, SK S7K 2L8 Page 1 of 12

Abasca Resources Announces Assay Results from the

Summer 2025 Drill Program and Start of Winter Drilling at its

Loki Flake Graphite Deposit

February 9, 2026 – Saskatoon, Saskatchewan: Abasca Resources Inc. (“Abasca” or the “Company”) (TSXV:

ABA) is pleased to release assay results from the in-fill drilling component of its summer 2025 program at its

Loki Flake Graphite Deposit (Loki Deposit) at its 100%-owned Key Lake South (KLS) Project (Figure 1, Figure

2). This component of the summer program was designed with the intent to upgrade the mineral resource

classification of the initial 11.31 Mt inferred flake graphite resource at 7.65 % Cg 1 which was derived

principally from the results of the 2024 summer drill program. The in-fill drilling was conducted in

conjunction with the geotechnical drilling completed at the beginning of the summer program (refer to the

Company’s release on September 8, 2025).

A total of 6,210 m over 27 holes was completed for in-fill drilling, resulting in graphite mineralization

intersections of up to 62.10 m at 9.43 % Cg (KLS-25-095). Locations and orientations of drillholes from the

in-fill program included in this release are listed in Table 1 and their assay results are shown in Table 2.

Assay Highlights

 KLS-25-095: 62.10 m at 9.43 % Cg, including 9.1 m at 14.18 % Cg

 KLS-25-097: 56.00 m at 9.49 % Cg, including 10.0 m at 12.93 % Cg and 7.0 m at 13.91 % Cg

 KLS-25-101: 49.70 m at 10.11 % Cg, including 7.0 m at 15.07 % Cg

 KLS-25-096: 47.80 m at 8.06 % Cg, including 10.0 m at 13.70 % Cg

 KLS-25-085: 46.72 m at 9.39 % Cg, including 9.0 m at 15.26 % Cg

The Company also announces the commencement of its 2026 winter drill program at KLS. The program has

three objectives: 1) continue to extend the Loki Deposit toward the southeast at 100 x 100 m grid-spacing,

2) geotechnical and hydrogeological drilling to support the Loki Deposit’s development, and 3) exploration

drilling at the Thor Zone.

Brian McEwan, Vice-President of Exploration commented “The assay results from the summer in-fill

program reaffirm the consistency of the graphite mineralization at the Loki Deposit. These results provide us

with even more confidence as we continue to develop this amazing resource in Saskatchewan’s north. We

will continue to focus our efforts on completing the technical field work that will support the next stages of

the project. At the same time, we are excited to conduct additional drilling at the Thor Zone that is parallel to

the Loki Deposit.”

Collected samples were sent to SRC Geoanalytical Laboratories in Saskatoon, Saskatchewan, an

independent laboratory accredited under ISO/IEC 17025:2017 for preparation and ICP-MS multi-element

analysis, boron by fusion as well as graphite content (% Cg) and total sulphur by LECO. Samples were

collected in accordance with industry-standard quality assurance / quality control practices and included

NEWS RELEASE

Abasca Resources Announces Assay Results from the Summer 2025 Drill Program and Start of Winter

Drilling at its Loki Flake Graphite Deposit

Abasca Resources Inc. – News Release 2026-01 February 9, 2026

#208 – 311 4th Avenue North, Saskatoon, SK S7K 2L8 Page 2 of 12

the insertion of blanks, standard reference materials, and repeats into the sample stream at regular

intervals. Samples were also collected for in-field and lab density measurements at regular intervals and

through the mineralized zones.

For more information on the Loki Flake Graphite Deposit and an overview of the Key Lake South Project,

please visit the Company’s website at https://www.abasca.ca.

Table 1: Locations and orientations of drillholes included in this release. Coordinates are in UTM NAD 83

Zone 13N and all lengths are measured in metres.

Drillhole ID Easting Northing Elevation Azimuth Inclination Total Length

KLS-25-077 444895 6330794 566 35 -90 241

KLS-25-078 445384 6330185 554 35 -60 362

KLS-25-079 445592 6330304 554 325 -90 255

KLS-25-080 445467 6330128 554 35 -60 347

KLS-25-081 446015 6330048 545 35 -90 198

KLS-25-082 445663 6330236 554 35 -60 184

KLS-25-083 445500 6330350 555 35 -60 191

KLS-25-084 445610 6330335 554 35 -60 143

KLS-25-085 445579 6330292 554 35 -60 189

KLS-25-086 445553 6330251 554 35 -60 230

KLS-25-087 445777 6330220 559 35 -60 164

KLS-25-088 445743 6330175 556 35 -60 200

KLS-25-089 445715 6330134 556 35 -60 218

KLS-25-090 445694 6330093 555 25 -60 233

KLS-25-091 445647 6330124 555 35 -60 251

KLS-25-092 445704 6330208 555 38 -60 192

KLS-25-093 445695 6330278 555 37 -60 138

KLS-25-094 445636 6330194 553 37 -60 215

KLS-25-095 445606 6330152 554 35 -60 256

KLS-25-096 445565 6330182 555 35 -60 296

KLS-25-097 445622 6330265 555 37 -60 200

KLS-25-098 445444 6330267 555 35 -60 260

KLS-25-099 445483 6330241 553 35 -60 299

KLS-25-100 445539 6330321 553 35 -60 191

KLS-25-101 445548 6330069 556 35 -60 345

KLS-25-102 445419 6330409 558 39 -60 164

KLS-25-103 445363 6330327 557 38 -60 248

NEWS RELEASE

Abasca Resources Announces Assay Results from the Summer 2025 Drill Program and Start of Winter

Drilling at its Loki Flake Graphite Deposit

Abasca Resources Inc. – News Release 2026-01 February 9, 2026

#208 – 311 4th Avenue North, Saskatoon, SK S7K 2L8 Page 3 of 12

Figure 1: Map of the Key Lake South Project area showing the location of the Loki Flake Graphite Deposit.

NEWS RELEASE

Abasca Resources Announces Assay Results from the Summer 2025 Drill Program and Start of Winter

Drilling at its Loki Flake Graphite Deposit

Abasca Resources Inc. – News Release 2026-01 February 9, 2026

#208 – 311 4th Avenue North, Saskatoon, SK S7K 2L8 Page 4 of 12

Figure 2: Map of the area around the Loki Flake Graphite Deposit area showing the drillhole locations from

this release as well as previous drillholes.

NEWS RELEASE

Abasca Resources Announces Assay Results from the Summer 2025 Drill Program and Start of Winter

Drilling at its Loki Flake Graphite Deposit

Abasca Resources Inc. – News Release 2026-01 February 9, 2026

#208 – 311 4th Avenue North, Saskatoon, SK S7K 2L8 Page 5 of 12

Table 2: Drillholes and their composited graphite intersections. All lengths are as measured downhole and

do not represent true thickness. Composite intervals are calculated using a 3.0 % Cg cut-off and may include

a maximum of 2.0 m internal dilution.

Drillhole ID From To Length Cg % S %

KLS-25-077 77.50 81.00 3.50 3.30 0.42

95.00 98.00 3.00 3.47 0.51

103.00 104.00 1.00 3.54 0.41

116.50 120.00 3.50 2.86 0.51

149.50 159.00 9.50 5.87 0.60

KLS-25-078 299.55 339.00 39.45 5.37 1.02

Including

304.00 306.00 2.00 13.05

308.00 309.00 1.00 11.20

KLS-25-079 172.65 218.70 46.05 8.47 1.52

Including

172.65 175.30 2.65 12.35

175.90 178.00 2.10 13.38

179.00 179.60 0.60 10.30

183.00 184.00 1.00 11.80

188.00 192.00 4.00 15.90

193.00 194.00 1.00 13.50

197.00 199.00 2.00 11.20

202.00 204.00 2.00 13.15

KLS-25-080 251.00 252.00 1.00 3.20 0.74

270.75 273.00 2.25 8.01 1.92

279.00 322.00 43.00 7.55 1.23

Including

279.00 282.00 3.00 14.50

287.00 292.00 5.00 15.38

316.00 317.00 1.00 10.20

320.00 322.00 2.00 14.80

KLS-25-081 58.00 59.00 1.00 3.10 0.60

98.00 123.00 25.00 8.20 1.31

Including

98.50 99.00 0.50 10.00

113.50 115.00 1.50 11.88

116.00 122.00 6.00 12.51

NEWS RELEASE

Abasca Resources Announces Assay Results from the Summer 2025 Drill Program and Start of Winter

Drilling at its Loki Flake Graphite Deposit

Abasca Resources Inc. – News Release 2026-01 February 9, 2026

#208 – 311 4th Avenue North, Saskatoon, SK S7K 2L8 Page 6 of 12

Drillhole ID From To Length Cg % S %

KLS-25-082 118.60 149.00 30.40 8.49 1.11

121.00 131.00 10.00 13.33

164.00 165.00 1.00 5.40 0.07

KLS-25-083 114.75 156.00 41.25 7.91 1.13

Including

116.00 117.00 1.00 11.10

117.50 122.00 4.50 12.34

123.00 125.00 2.00 11.20

129.00 131.00 2.00 13.25

142.00 143.00 1.00 15.40

KLS-25-084 71.00 115.40 44.40 8.57 1.12

Including

71.00 72.00 1.00 10.40

73.00 78.00 5.00 15.64

79.00 83.00 4.00 14.75

89.00 90.00 1.00 10.70

94.00 95.00 1.00 11.80

107.00 108.00 1.00 11.30

KLS-25-085 114.28 161.00 46.72 9.39 1.22

Including

115.00 118.00 3.00 13.77

120.00 129.00 9.00 15.26

135.00 136.00 1.00 10.30

138.00 140.00 2.00 11.15

141.00 142.00 1.00 14.80

150.00 151.00 1.00 13.90

KLS-25-086 167.50 193.00 25.50 7.82 1.44

Including

170.00 171.00 1.00 11.80

173.00 175.00 2.00 13.65

178.00 179.00 1.00 11.30

197.00 199.00 2.00 5.39 0.85

KLS-25-087 116.00 135.10 19.10 8.12 0.97

Including

116.00 118.00 2.00 13.95

NEWS RELEASE

Abasca Resources Announces Assay Results from the Summer 2025 Drill Program and Start of Winter

Drilling at its Loki Flake Graphite Deposit

Abasca Resources Inc. – News Release 2026-01 February 9, 2026

#208 – 311 4th Avenue North, Saskatoon, SK S7K 2L8 Page 7 of 12

Drillhole ID From To Length Cg % S %

119.00 121.00 2.00 12.30

122.00 123.00 1.00 12.50

125.00 127.00 2.00 13.00

KLS-25-088 148.50 165.00 16.50 10.68 1.70

Including

148.50 149.00 0.50 11.10

150.00 154.00 4.00 12.25

155.00 160.00 5.00 13.48

164.00 165.00 1.00 11.40

168.00 170.00 2.00 5.00 0.70

KLS-25-089 172.30 197.00 24.70 10.82 1.88

Including

172.30 173.00 0.70 13.60

175.00 189.00 14.00 13.68

195.00 196.00 1.00 11.30

KLS-25-090 191.25 213.00 21.75 9.66 1.51

Including

191.25 192.00 0.75 12.40

193.00 199.00 6.00 13.75

201.00 206.00 5.00 13.58

KLS-25-091 188.00 209.30 21.30 9.80 1.86

Including

188.00 190.00 2.00 12.35

193.00 194.00 1.00 12.90

196.00 198.00 2.00 12.30

199.00 203.00 4.00 15.30

207.00 208.00 1.00 12.70

KLS-25-092 131.20 154.00 22.80 9.11 1.55

Including

131.20 132.00 0.80 13.50

133.00 135.00 2.00 11.70

136.00 137.00 1.00 15.80

139.00 143.00 4.00 12.58

165.00 166.00 1.00 3.91 0.09

KLS-25-093 84.00 115.00 31.00 6.94 0.93

NEWS RELEASE

Abasca Resources Announces Assay Results from the Summer 2025 Drill Program and Start of Winter

Drilling at its Loki Flake Graphite Deposit

Abasca Resources Inc. – News Release 2026-01 February 9, 2026

#208 – 311 4th Avenue North, Saskatoon, SK S7K 2L8 Page 8 of 12

Drillhole ID From To Length Cg % S %

Including

84.00 85.00 1.00 10.10

87.00 88.00 1.00 12.00

90.00 94.00 4.00 12.10

122.00 123.00 1.00 3.20 0.15

KLS-25-094 147.50 187.50 40.00 9.25 1.56

Including

147.50 148.00 0.50 11.95

151.00 153.00 2.00 11.75

154.00 156.00 2.00 10.30

157.00 161.00 4.00 12.85

162.00 166.00 4.00 14.10

169.00 171.00 2.00 13.45

177.00 178.00 1.00 11.30

180.00 181.00 1.00 11.30

KLS-25-095 174.90 237.00 62.10 9.43 1.87

Including

174.90 184.00 9.10 14.18

194.00 199.00 5.00 13.96

200.00 201.00 1.00 10.10

204.00 207.00 3.00 11.83

208.00 210.00 2.00 11.40

211.00 215.00 4.00 13.25

222.00 223.00 1.00 11.20

228.00 229.00 1.00 11.80

KLS-25-096 197.60 245.40 47.80 8.06 1.45

Including

198.50 199.00 0.50 11.00

202.00 205.00 3.00 11.70

207.00 217.00 10.00 13.70

KLS-25-097 100.00 156.00 56.00 9.49 1.56

Including

100.00 104.00 4.00 11.38

105.00 109.00 4.00 10.38

111.00 121.00 10.00 12.93

127.00 130.00 3.00 10.80

134.00 141.00 7.00 13.91

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