Abcourt Establishes Surety Facility Resulting IN Balance Sheet Improvement
For immediate release
TSX Venture: ABI.V
ABCOURT ESTABLISHES SURETY FACILITY RESULTING IN BALANCE SHEET
IMPROVEMENT
Rouyn-Noranda, Canada, November 27, 202 3 - Abcourt Mines Inc. (“Abcourt” or the
“Corporation”) (TSX Venture: ABI) is pleased to announce that in collaboration with Purves
Redmond Limited and a Canadian Insurance Company, the establishment of a Surety
Facility(“Facility”) with respect to its Sleeping Giant and Elder environmental bonds totaling
C$5,867,786. The Facility requires the Company to provide a Letter of Credit secured by cash
collateral of C$2,933,893 and pay an annual fee.
The Facility allows Abcourt to withdraw funds of C$5.9 million from the Ministry of Natural
Resources and results in a net improvement to Abcourt’s cash position of C$2,9M. This additional
financial flexibility will be beneficial in the short term while Abcourt begins to sell gold to the market
from the processing of mineralized materials from Pershing-Manitou deposit in the Sleeping Giant
mill.
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is a Canadian gold exploration company 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 webs ite at www.abcourt.ca and consult our filings under
Abcourt's profile on 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 is not limited to, statements
concerning the timing, review, completion and filing of the Required Documents as well as the
duration 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 those 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 ne eded 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 development 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.