Abcourt Announces its Results for the Second Quarter ended December 31, 2023
For immediate release
TSX Venture: ABI.V
Abcourt Announces its Results for the Second Quarter ended December 31, 2023
Rouyn-Noranda, Canada, February 27, 2024 - Abcourt Mines Inc. (“Abcourt” or the
“Corporation”) (TSX Venture: ABI) announces its results for the three months ended December
31, 2023. All monetary values in this press release are expressed in Canadian dollars, unless
otherwise indicated. The financial statements and management report are available on SEDAR+.
Highlights for the Quarter ended December 31, 2023
• Investments of $1,571,293 in exploration and evaluation during the quarter ending
December 31, 2023.
• Cash of $1,251,445, compared to $963,974 as of June 30, 2023. Working capital of the
Company of $(4,611,593) compared to $(4,476,223) as of June 30, 2023.
• During the quarter, Abcourt completed a private placement. The Company issued a total
of 64,503,750 units at a price of $0.04 consisting of one common share and one warrant
for total gross proceeds of $2,580,150.
• On November 22, 2023, the Company announces the start-up of the Sleeping Giant mill
and the processing of the first tonnes from the Pershing-Manitou deposit.
• On November 27, 2023, the Company announces the conclusion of an agreement with
a Canadian insurance company to provide bonds to the Government of Quebec in
accordance with the requirements according to the restoration plans approved by the
Government of Quebec for environmental obligations for Elder and Sleeping Giant mine
sites totaling $5,867,786. Pursuant to the agreement, the Company provided a letter of
credit secured by a cash guarantee of $2,933,893 and the payment of an annual
premium.
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is a Canadian gold exploration Corporation with properties strategically located
in northwestern Quebec, Canada. Abcourt 100% owns the Sleeping Giant mill and mine where
it concentrates its activities. The Sleeping Giant mine has a mining lease, as well as environmental
certificates of authorization to extract up to 750 tonnes per day from its underground mine.
For further information, please visit our website at www.abcourt.ca, and consult our filings under
Abcourt's profile at www.sedarplus.ca, or contact:
Pascal Hamelin
President and CEO
T: (819) 768-2857
Dany Cenac Robert, Investor Relations
Reseau ProMarket Inc.,
T: (514) 722-2276, post 456
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This news release contains “forward- looking information” within the meaning of applicable Canadian
securities legislation based on expectations, estimates and projections as at the date of this news release.
Such forward-looking information includes, but i s not limited to, statements concerning the revocation of
the MCTO. Forward- looking information involves risks, uncertainties and other factors that could cause
actual events, results, performance, prospects and opportunities to differ materially from thos e expressed
or implied by such forward- looking information. Factors that could cause actual results to differ materially
from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain
required approvals; uncertainties relating to the availability and costs of financing needed in the future;
changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects;
other risks involved in the mineral exploration and develop ment industry; and those risks set out in the
Corporation’s public documents filed on SEDAR+ at www.sedarplus.ca. Although the Corporation believes
that the assumptions and factors used in preparing the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such information, which only applies as of the date of
this news release, and no assurance can be given that such events will occur in the disclosed time frames
or at all. The Corporation disclaims any intention or obligation to update or revise any forward- looking
information, whether as a result of new information, future events or otherwise, other than as required by
law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news
release.