Abasca Resources Announces Exploration Update at its Loki Deposit and Non -Brokered Private Placement of up to $2.5 Million
NEWS RELEASE
Abasca Resources Announces Exploration Update at its Loki Deposit and Non -Brokered Private
Placement of up to $2.5 Million
Abasca Resources Inc. – News Release 2025-08 September 8, 2025
#208 – 311 4th Avenue North, Saskatoon, SK S7K 2L8 Page 1 of 6
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
Abasca Resources Announces Exploration Update at its Loki
Flake Graphite Deposit and Non-Brokered Private Placement
of up to $2.5 Million
September 8, 2025 – Saskatoon, Saskatchewan: Abasca Resources Inc. (“Abasca” or the “Company”) (TSX
V: ABA) is pleased to announce the completion of geohydrological and geotechnical drilling work as part of
its 2025 summer program at its 100% owned Key Lake South Project (KLS ) (see Figure 1 ). Th is drilling
consisted of six sonic drillholes totaling of 235 m and four diamond drillholes totaling 868 m in and around
the Loki Flake Graphite Deposit (the “Loki Deposit ”), as detailed in Table 1 and Figure 2 . The material
collected, core logging, lab analysis and on-going monitoring data collection are part of the environmental
baseline study initiated in the spring of 2025 to support the design of an open-pit, tailings planning and
Environmental Impact Assessment (EIA). Drillcore recovered from the diamond drilling will also be used for
mineral resource estimates and metallurgical testing. The remainder of the 2025 summer program will now
focus on in-fill drilling on the main pit -constrained inferred resource area at the Loki Deposit (Figure 2) to
support an upgrade of the mineral resource estimate.
Dawn Zhou, President and CEO, stated “Abasca is delighted with the progress of the environmental baseline
study and geotechnical data collection following the 2025 winter resource expansion drilling and the
initiation of summer resource upgrade drilling. The Company will continue the environmental baseline
study, metallurgical test ing and other tasks while completing resource drilling for the Loki Deposit to
advance toward the development stage on an expeditious timeline”.
“The Loki Deposit continues to provide consistent results with drillcores from the geotechnical drilling in the
Deposit being similar to that intersected in the 2024 summer drill program . These intersections of strong
graphite mineralization confirm our model and provide confidence in continuing to develop this critical
mineral resource. As we complete the in-fill program, we look forward to planning additional programs to
test this mineralized trend toward the southwest” commented Brian McEwan, Vice-President of Exploration.
The Company is also announcing a non -brokered private placement (the “ Private Placement ”) of $ 2.5
million which would be comprised of the sale of up to 15,625,000 common shares of the Company (the “FT
Shares”) at a price of $0.16 per FT Share, with each FT Share to be issued as a “flow -through share” (as
defined in the Income Tax Act (Canada) (the “Tax Act”)).
The gross proceeds received from the Private Placement will be used for exploration activities on the
Company’s KLS Project, including the summer in-fill drilling. The gross proceeds from the issuance of the FT
Shares are intended to be used to incur “Canadian exploration expenses” (as this term is defined in the Tax
Act) that the Company may renounce pursuant to the Tax Act as “flow-through mining expenditures” (as this
term is defined in the Tax Act) or, if the Company determines in its sole discretion, a s “flow-through critical
mineral mining expenditures” (as defined in the Tax Act).
NEWS RELEASE
Abasca Resources Announces Exploration Update at its Loki Deposit and Non -Brokered Private
Placement of up to $2.5 Million
Abasca Resources Inc. – News Release 2025-08 September 8, 2025
#208 – 311 4th Avenue North, Saskatoon, SK S7K 2L8 Page 2 of 6
In connection with the Private Placement, the Company may pay cash finder’s fees equal up to 6.0% of the
gross proceeds raised from investors introduced to the Company by finders (“ Finders”) and issue share
purchase warrants (“Finder’s Warrants”) equal up to 6.0% of the number of FT Shares acquired by investors
introduced to the Company by Finder s in accordance with the policies of the Exchange. Each Finder’s
Warrant would entitle the holder to purchase a common share of the Company at a price of $0.20 per share
for a period of two years.
All securities issued and sold under the Private Placement will be subject to a hold period expiring four
months and one day from the date of closing of the Private Placement. Closing of the Private Placement is
subject to the Company’s receipt of Exchange approval.
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-25-076 445066 6329999 556 35 -90 174
KLS-25-076S 445073 6330001 556 35 -90 27
KLS-25-077 444895 6330794 566 35 -90 241
KLS-25-077S 444895 6330794 566 35 -90 50
KLS-25-078S 445937 6330440 561 35 -90 41
KLS-25-079 445592 6330304 554 35 -90 255
KLS-25-079S 445571 6330353 555 35 -90 45
KLS-25-080S 446169 6329824 541 35 -90 30
KLS-25-081 446015 6330049 547 35 -90 198
KLS-25-081S 446022 6330052 545 35 -90 42
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.
NEWS RELEASE
Abasca Resources Announces Exploration Update at its Loki Deposit and Non -Brokered Private
Placement of up to $2.5 Million
Abasca Resources Inc. – News Release 2025-08 September 8, 2025
#208 – 311 4th Avenue North, Saskatoon, SK S7K 2L8 Page 3 of 6
Figure 1: Map of the Key Lake South Project area showing the location of the Loki Flake Graphite Deposit in
and the priority target areas for uranium exploration along prospective graphitic corridors.
NEWS RELEASE
Abasca Resources Announces Exploration Update at its Loki Deposit and Non -Brokered Private
Placement of up to $2.5 Million
Abasca Resources Inc. – News Release 2025-08 September 8, 2025
#208 – 311 4th Avenue North, Saskatoon, SK S7K 2L8 Page 4 of 6
Figure 2 : Map of the Loki Flake Graphite Deposit area showing the 2025 geotechnical drillhole locations
(dark green circles). Summer in-fill program is planned to be completed within the pit -constrained inferred
resource area (grey).
NEWS RELEASE
Abasca Resources Announces Exploration Update at its Loki Deposit and Non -Brokered Private
Placement of up to $2.5 Million
Abasca Resources Inc. – News Release 2025-08 September 8, 2025
#208 – 311 4th Avenue North, Saskatoon, SK S7K 2L8 Page 5 of 6
Qualified Person
The technical information in this news release has been reviewed and approved by Brian McEwan, P.Geo, a
Qualified Person as set out in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr.
McEwan is the Vice-President of Exploration of Abasca.
About Abasca Resources Inc.
Abasca is a mineral exploration company that is primarily engaged in the acquisition and evaluation of
mineral exploration properties. The Company owns the Key Lake South Project (KLS), a 23,977 -hectare
exploration project located in the Athabasca Basin Region in northern Saskatchewan, approximately 15 km
south of the former Key Lake mine and current Key Lake mill. The project possesses geological similarities
and along strike of past Key Lake Mine with prospective conductors of over 50 km for potential ura nium
mineralization. KLS is also host to the Loki Flake Graphite Deposit comprising a total inferred resource of
11.31 Mt at 7.65 % Cg. Please refer to the technical report dated May 29, 2025, with an effective date of April
10, 2025 and titled “Technical Report on the Key Lake South Project with Initial Mineral Resource Estimate
for the Loki Flake Graphite Deposit, Saskatchewan, Canada” filed under the Company’s profile on the
SEDAR+ website for further information about the resource estimate.
On behalf of Abasca Resources Inc.
Dawn Zhou, M.Sc, CPA
President, CEO and Director
For more information visit the Company’s website at https://www.abasca.ca or contact:
Abasca Resources Inc.
Email: [email protected]
Telephone: +1 (306) 933 4261
NEWS RELEASE
Abasca Resources Announces Exploration Update at its Loki Deposit and Non -Brokered Private
Placement of up to $2.5 Million
Abasca Resources Inc. – News Release 2025-08 September 8, 2025
#208 – 311 4th Avenue North, Saskatoon, SK S7K 2L8 Page 6 of 6
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press
release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities
in the United States of America. The securities have not been and will not be registered under the United
States Securities Act of 1933 (the “ 1933 Act”) or any state securities laws and may not be offered or sold
within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act
and applicable state securities laws, or an exemption from such registration is available.
Forward-Looking Information
This press release may contain certain forward -looking information and statements (“ forward-looking
information”) within the meaning of applicable Canadian securities legislation that are not based on
historical fact, including without limitation statements containing the words "believes", "anticipates",
"plans", "intends", "will", "should", "expects", "continue", "es timate", "forecasts" and other similar
expressions. Forward -looking information reflects management’s current beliefs with respect to future
events and is based on information currently available to management. Forward -looking information
contained in this press release includes, but is not limited to , statements relating to the mineral resource
estimate for the Loki Deposit, the advancement of the Loki Deposit to the development stage and the in-fill
drilling to upgrade the mineral resource estimate . Readers are cautioned to not place undue reliance on
forward-looking information. Actual results and developments may differ materially from those
contemplated by these statements. Abasca undertakes no obligation to comment on analyses,
expectations, or statements made by third -parties in respect of Abasca, its securities, or financial or
operating results (as applicable). Although Abasca believes that the expectations reflected in forward -
looking information in this press release are reasonable, such forward-looking information has been based
on expectations, factors, and assumptions concerning future events which may prove to be inaccurate and
are subject to numerous risks, uncertainties and factors, certain of which are beyond Abasca’s control,
including the impact of general business and economic conditions; risks related the exploration activities to
be conducted on KLS, including risks related to government and environmental regulation; actual results of
exploration activities; industry conditions, including uranium and graphite price fluctuations, interest and
exchange rate fluctuations; the influence of macroeconomic developments; business opportunities that
become available or are pursued; title, permit or license disputes related to KLS; litigation; fluct uations in
interest rates; and other factors. In addition, the forward -looking information is based on several
assumptions which may prove to be incorrect, including, but not limited to, assumptions about the
availability of qualified employees and contrac tors for the Company’s operations and the availability of
equipment. The forward-looking information contained in this press release are expressly qualified by this
cautionary statement and are made as of the date hereof. Abasca disclaims any intention and has no
obligation or responsibility, except as required by law, to update or revise any forward -looking information,
whether as a result of new information, future events or otherwise.