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ABI.V ·

Abcourt files the Mineral Resource Update Technical Report for the Sleeping Giant Mine

Resource Estimates Technical Reports (NI 43-101)

For immediate release

TSX Venture: ABI.V

Abcourt files the Mineral Resource Update Technical Report for the Sleeping

Giant Mine

Rouyn-Noranda, Canada, January 25, 2023 - Abcourt Mines Inc. (“Abcourt” or the

“Corporation”) (TSX Venture: ABI) is pleased to announce that it has filed the Mineral

Resources Estimate (MRE) technical report in accordance with National Instrument 43-101 –

Standards of Disclosure for Mineral Projects (“NI 43-101“) on its 100% owned Sleeping Giant

Mine. The technical report entitled “NI 43-101 Technical Report and Mineral Resource Estimate

for the Sleeping Giant Mine, Quebec, Canada” and dated January 25, 2023 (with an effective date

of December 12, 2022) has been prepared for Abcourt by the firm InnovExplo from Val-d’Or. The

technical report is available on SEDAR (www.sedar.com) under Abcourt’s issuer profile.

The Abcourt’s news release dated December 13, 2022 (entitled “Abcourt Announces Mineral

Resource Update at the Sleeping Giant Mine”) summarized certain key results, assumptions and

estimates contained in the Technical Report filed today.

Qualified Persons

Mr. Pascal Hamelin, ing, President and Chief Executive Officer of the Corporation, has verified

and approved the technical information contained in this press release.

ABOUT ABCOURT MINES INC.

Abcourt Mines Inc. is an emerging 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

E: [email protected]

Dany Cenac Robert, Investor Relations

Reseau ProMarket Inc.,

T: (514) 722-2276, post 456

E: [email protected]

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 similar expressions. Forward-

looking statements, including the expectations 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 activity, performance or achievements of

Abcourt to be materially different from those expressed 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 risks factors set out in Abcourt’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 assumptions 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 .