On Friday 05 01, 2026 at 7:00AM ET Abasca Resources to Participate in Core Days 2026 and Closes $2.5 Million Private Placement
On Friday 05 01, 2026 at 7:00AM ET
Abasca Resources to Participate in Core Days 2026 and
Closes $2.5 Million Private Placement
Highlights
Abasca to participate in Core Days 2026 in La Ronge, Saskatchewan, May 11-13, 2026, reinforcing the Company's long-
standing engagement with Northern Saskatchewan communities
Closed $2.5 million non-brokered private placement, comprising 9,000,000 flow-through common shares at $0.25 and
1,250,000 non-flow-through common shares at $0.20
Flow-through proceeds will fund Canadian exploration expenses on the Key Lake South Project, which hosts the Loki
Flake Graphite Deposit (Figure 1)
SASKATOON, SK / ACCESS Newswire / May 1, 2026 / Abasca Resources Inc. ("Abasca" or the "Company") (TSXV:ABA)
is announcing that it will be presenting at the annual Core Days conference, taking place May 11-13, 2026, in La Ronge,
Saskatchewan. Core Days brings together industry, government, and Northern Saskatchewan communities to advance dialogue
on responsible resource development and shared regional prosperity-an alignment that reflects Abasca's ongoing commitment to
the communities in which it operates.
The Company also announces the closing of its previously announced non-brokered private placement for aggregate gross
proceeds of $2.5 million.
A Continued Commitment to Local Education and Workforce Development
Abasca is committed to supporting Saskatchewan's northern communities, including La Ronge. As part of this commitment, the
Company has previously provided a geologist to review the geology curriculum for the Mining Engineering Technician Program
at Northlands College, as well as geological support to assist the Saskatchewan Precambrian Core Lab - both of which are key
support of the Core Days Conference. These efforts reflect Abasca's ongoing dedication to local workforce development,
geological education, and the broader northern community.
"Engaging with local communities and supporting the next generation of mining professionals has always been a core value of
our group. Seeing how programs in La Ronge have evolved into a major annual event like Core Days is a point of great pride for
us, and we remain committed to that legacy. We look forward to providing an update at the conference, which is open to all who
wish to attend and hear directly about progress at the Loki Flake Graphite Deposit," said John Shmyr, Vice President of
Engagement and Communication of Abasca.
Non-Brokered Private Placement
The Company also announces that it has closed the non-brokered private placement (the "Offering") previously announced on
April 14, 2026. Pursuant to the Offering, the Company has issued 9,000,000 flow-through common shares of the Company (the
"FT Shares", and each common share of the Company, a "Common Share") at a price of $0.25 per FT Share to raise gross
proceeds of $2,250,000; and 1,250,000 non-flow-through Common Shares (the "NFT Shares") at a price of $0.20 per NFT Share
to raise gross proceeds of $250,000.
Insiders of the Company, including certain directors and officers, participated in the Offering, including Brian McEwan, the
Company's Vice President, Exploration and Development who subscribed for 60,000 FT Shares, and John Shmyr, the Company's
Vice President, Engagement and Communications who subscribed for 20,000 FT Shares. In addition, 9169601 Canada Inc.
("9169601"), a corporation 100% of the common shares (including joint ownership) and 100% of the preferred shares are held by
Dawn Zhou, Director, President and CEO of the Company, subscribed for 3,810,000 FT Shares. Canada DBD Management Inc.
("Canada DBD"), a corporation the shares of which are solely owned by Ms. Zhou, subscribed for 3,800,000 FT Shares. Messrs.
McEwan and Shmyr, 9169601 and Canada DBD are each a "related party" to the Company within the meaning of Multilateral
Instrument 61-101 - Protection of Minority Security Holders in Special Transactions of the Canadian Securities Administrators
("MI 61-101") and their participation in the Offering each constituted a "related party transaction" under MI 61-101. The
Company is exempt from the formal valuation requirement pursuant to subsection 5.5(b) of MI 61-101 on the basis that the
Common Shares are listed on the TSX Venture Exchange (the "TSX-V"). The Company is also exempt from the minority
approval requirement pursuant to subsection 5.7(1)(b) of MI 61-101 on the basis that: (i) the Common Shares are listed on the
TSX-V; (ii) at the time the transaction was agreed to, neither the fair market value of the FT Shares distributed under the Offering
nor the consideration to be received for those FT Shares, insofar as the transaction involves the related parties, exceeds
$2,500,000; (iii) the Company has more than one independent director; and (iv) at least two-thirds of the independent directors of
the Company approved the Offering.
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 Income Tax Act (Canada) (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,
as "flow-through critical mineral mining expenditures" (as defined in the Tax Act). The gross proceeds from the issuance of the
NFT Shares are to be spent on general and administrative expenses.
All Common Shares issued and sold under the Private Placement are subject to a hold period expiring on August 31, 2026
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.
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 and Development 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 uranium 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
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 ("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", "estimate", "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 preparation of a preliminary economic assessment for the Loki Deposit, the de-risking of
the Loki Deposit the advancement of the Loki Deposit to the development stage and the acceleration of the Company's path
towards its production goals. 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; fluctuations 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 contractors 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
SOURCE: Abasca Resources Inc.