Abcourt Begins Geological Work ON the Discovery and Flordin Projects and Announces an Additional Subscription to the
For immediate release
TSX Venture: ABI.V
ABCOURT BEGINS GEOLOGICAL WORK ON THE DISCOVERY AND FLORDIN
PROJECTS AND ANNOUNCES AN ADDITIONAL SUBSCRIPTION TO THE
PRIVATE PLACEMENT CLOSED ON SEPTEMBER 27, 2022
Rouyn-Noranda, Canada, October 13, 2022 - Abcourt Mines Inc. (“ Abcourt” or the
“Corporation”) (TSX Venture: ABI) is pleased to announce the start of geological work on the
Discovery and Flordin gold projects. Abcourt commissioned the firm Innov-Explo to build the
geological models, add the results of the last 15 years to the historical resources of the two
projects, update the resources, and finally draw up a list of work to be done on the ground in 2023
to continue the growth of the resources. The Corporation is tar geting a resource update for the
second quarter of 2023.
The Discovery and Flordin deposits are located in northern Quebec, 35 km from the town of Lebel-
sur-Quévillon, and nearly 100 km from the Sleeping Giant Mill. The two deposits are separated
by 5 km along a shear zone. Abcourt owns 100% of the cell blocks forming part of the Discovery
and Flordin deposits.
Additional subscription to the private placement closed on September 27, 2022
The Corporation has accepted a subscription for 500,000 units o f Abcourt (each a "Unit") at a
price of $0.065 per Unit, for proceeds of $32,500 (the "Private Placement"). Each Unit consists of
one Class B share of the Corporation (each, a “Common Share”) a nd one common share
purchase warrant (each, a “Warrant”). Each warrant entitles its holder to purchase one common
share at a price of $0.15 until no later than 36 months after the date of issue of the warrant.
Abcourt will use the proceeds of the private placement for its working capital. No commission is
payable for this additional subscription to the private placement closed on September 27, 2022.
All securities issued pursuant to the private placement are subject to a hold period of four months
plus one day under applicable securities laws. The private plac ement remains subject to final
approval by the TSX Venture Exchange.
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is a gold producer and a Canadian exploration corporation with strategically
located properties in northwestern Québec, Canada. Abcourt owns the Sleeping Giant mill and
mine where it concentrates its activities.
For further information, please visit our website at www.abcourt.com , and consult our filings under
Abcourt's profile on www.sedar.com, 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
FORWARD-LOOKING INFORMATION
Certain information contained herein may constitute “forward-looking information” under Canadian
securities legislation. Generally, forward-looking information can be identified by the use of forward-looking
terminology such as “plans”, “seeks”, “expects”, “estimates”, “intends”, “anticipates”, “believes”, “could”,
“might”, “likely” or variations of such words, or statements that certain actions, events or results “may”, “will”,
“could”, “would”, “might”, “will be taken”, “occur”, “be achieved” or other si milar expressions. Forward-
looking statements, including the ex pectations of Abcourt’s management regarding the completion of the
Transaction, are based on Abcourt’s estimates and are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of activi ty, performance or achievements of
Abcourt to be materially different from those expres sed or implied by such forward-looking statements or
forward-looking information. Forward-looking statements are subject to business and economic factors and
uncertainties, and other factors that could cause actual results to differ materially from these forward-looking
statements, including the relevant assumptions and ri sks factors set out in Ab court’s public documents,
available on SEDAR at www.sedar.com. There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially from those anticipated in such
statements. Although Abcourt believes that the assump tions and factors used in preparing the forward-
looking statements are reasonable, undue reliance should not be placed on these statements and forward-
looking information. Except where required by applicable law, Abcourt disclaims any intention or obligation
to update or revise any forward-looking statement, whether as a result of new information, future events or
otherwise.
The TSX Venture Exchange and its regulatory service provider (as defined in the policies of the TSX
Venture Exchange) assume no responsibility for the adequacy or accuracy of this press release.