ROUYN-NORANDA, Canada, Aug. 07, 2025 (GLOBE NEWSWIRE) — Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to provide an update on the ramp-up activities at the Sleeping Giant Project in Eeyou Istchee, Québec.
Pascal Hamelin, President and CEO of Abcourt, commented: “We had a very good start of the project as soon as we completed the financing with Nebari in early July. We immediately started the installation of the sleep camp on site. The underground teams began the rehabilitation of the underground openings as well as preparing the mining of the first stope that began at the end of July. The mill and surface teams prepared the mill during the month of July to start processing material from underground in August. Finally, we also began the hiring process to increase the size of the development and mining crews. Overall, we’re all excited to start the development and ramp-up of the project.”
July Activities
- Built a surface stockpile between the mine and the mill of approximately 1,000 tonnes of ore.
- Began to blast the first stope underground in July.
- Started the construction of a 50 persons dormitory. In the coming days, we will complete the installation of the utilities feeding the dormitory. It’s planned to accept the first persons later in August. The delivery of the kitchen and rec room are scheduled in a few weeks. The 50-person dormitory is the first phase of a larger dormitory. Abcourt is in the permitting process for phase 2 to increase the capacity from 50 to 100 rooms. The current 50-person dormitory should be enough to accommodate up to 100 workers base on a 7 days in 7 days out, 24 hours a day schedule. Also, we will continue to lodge some workers in the city of Amos until we complete phase 2.
- Began the works on the tailing facilities. The tailing construction management will consist of a small team who will execute the construction every year from generally May until October. The new environmental Certificate of Authorization, received in the Spring 2025, for the pulp storage is good until 2032 at the proposed mining rate of 100,000 to 125,000 tonnes per year of ore.
August Outlooks
- Increase the underground activities to start feeding the mill,
- Commission the crushing plant,
- Commission the grinding and leaching circuits to fill the mill circuit.
Figure 1: Surface stockpile of ore
Figure 2: Installation of the 50-persons dormitory
Qualified Person
Pascal Hamelin, Eng, President and Chief Executive Officer of the Corporation, has verified and approved the technical information contained in this press release.
Mr. Hamelin is a qualified person under Regulation NI 43-101.
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is a Canadian exploration company with properties strategically located in northwestern Québec, Canada. Abcourt owns the Sleeping Giant mine and mill, as well as the Flordin property, where it focuses its development activities.
For more information about Abcourt Mines Inc., please visit our website at www.abcourt.ca and view our filings under Abcourt’s profile on www.sedarplus.ca
FORWARD-LOOKING STATEMENTS
Certain information contained in this news release may constitute “forward-looking information” within the meaning of Canadian securities legislation. Generally, forward-looking information can be identified by using forward-looking terminology, such as “plans”, “aims”, “expects”, “projects”, “intends”, “anticipates”, “estimates”, “could”, “should”, “likely”, or variations of such words and phrases or statements specifying that certain acts, events or results “may”, “should”, “will” or “be achieved” or other similar expressions. Forward-looking statements, including the expectation of the Corporation with respect to the expected use of the proceeds from the Financing Facility and the final approval of the TSXV, are based on Abcourt’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause Abcourt’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements or information. Forward-looking statements are subject to business, economic and uncertainties and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risk factors set forth in Abcourt’s public filings, which are available on SEDAR+ at www.sedarplus.ca. There can be no assurance that these statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Although Abcourt believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on such statements. Except as required by applicable securities laws, Abcourt disclaims any intention or obligation to update or revise any such forward-looking statements or information, whether as a result of new information, future events or otherwise.
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 release.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/958aa56f-2f3f-4af8-92a6-7566ee599333
https://www.globenewswire.com/NewsRoom/AttachmentNg/1fc6278b-38de-41ed-b29a-b8afad07cb16
