Abcourt Launches a Drilling Campaign at the Polymetallic Site of the Former Barvue Mine, Barraute Sector in Abitibi-Témiscamingue

13:00 Uhr  |  GlobeNewswire

ROUYN-NORANDA, June 01, 2026 - Abcourt Mines Inc. ("Abcourt" or the "Company") (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to announce the launch of a new drilling campaign of approximately 2,000 metres at the site of the former Barvue silver and zinc mine, located in the Barraute sector of Abitibi-Témiscamingue.

The work, which will begin during the first week of June, is directly aligned with the Company's corporate strategy to enhance its premier silver assets following the recent dramatic increase in metal prices.

Drilling Objectives: Targeting Unexplored Deeper Potential

Past exploration work, as well as former open-pit and underground operations, never exceeded a vertical depth of 200 metres. Volcanogenic Massive Sulphide (VMS) deposits in Quebec are buried at varying depths. While some deposits outcrop near the surface, they often extend deep underground.

Geologically, we can compare the former Barvue mine to the Matagami zinc deposit; in this sense, the famous "Key Tuffite" is possibly the equivalent of the "Grey Tuff" found in descriptions of the geological units present at the Barvue mine. Note that the main zinc-copper-silver mines of the Matagami camp, such as Isle-Dieu, Bell-Allard South, Bracemac-McLeod, Perseverance, and Norita, are found at depths ranging from the surface to more than 1,200 metres deep.

The current campaign will consist of 4 drill holes of approximately 500 metres each. They will specifically aim to test silver-rich plunge extensions beneath the old pit, where mineralized axes of interest converge. This is the very first time these high-value targets will be tested at this depth.

A Rich History of Production

Historical production at the Abcourt-Barvue mine (located near Barraute, Abitibi) totals more than 5.6 million tonnes of ore extracted during two distinct periods:

• Open-Pit Period (1952-1957): Approximately 5.0 million tonnes were extracted with a grade of 38.74 g/t silver and 2.98% zinc.
  
  
• Underground Period (1986-1990): Nearly 632,000 tonnes were extracted by Abcourt Mines with a grade of 131.65 g/t silver and 5.04% zinc.
  
  

Combined Total Historical Production:

• Processed Ore: ~5,634,500 tonnes
• Zinc: ~320 million pounds
• Silver: ~6.7 million ounces
  
  

Historical Data: A Major Deposit (NI 43-101 Resources)

The last economic scoping study conducted by P. Bonneville and F. Baril in 2019 already highlighted the robustness of the asset. The following table compiles the historical resource assessment of the Barvue deposit:

Note: The 2019 scoping study used a silver price of $16.50 USD per ounce. With the current price exceeding $70 USD, the intrinsic value of these resource blocks benefits from a financial leverage effect nearly 4 times higher.

Project players:

The Barvue project benefits from a premier strategic alliance and world-class scientific technical expertise:

• An International Partner: The campaign is partially funded by a loan granted on January 30, 2026, by Glencore, one of the world's leading companies in the mining and commodities trading industries. Glencore will also provide major support through their recognized technical expertise.
  
  
• Renowned Technical Management (Dr. Mathieu Piché): The interpretation, planning, and execution of the work are entrusted to Dr. Mathieu Piché, PhD in Geology, who has been with Abcourt for 4 years. A world-renowned specialist in Volcanogenic Massive Sulphide (VMS) deposits, Dr. Piché has over 40 years of experience in mineral exploration.
  
  Dr. Piché dedicated his doctoral thesis to the study of Matagami massive sulphide deposits in Quebec, redefining the geological models that guided modern exploration waves in the sector. Furthermore, he is the designer and developer of the Normat geochemical exploration software, an avant-garde mathematical and geological tool used industry-wide to accurately identify hydrothermal alteration signatures associated with deep VMS deposits.
  
  

AT A GLANCE:

• 2,000 metres campaign targeting unexplored silver-rich zones under the former pit.
• Partnership with Glencore.
• Major economic leverage: historical study was based on silver at $16.50 USD/oz, compared to over $70 USD/oz today.
• Project leaders with globally recognized expertise.
  
  

Market Focus: Critical Minerals at the Heart of North American Geopolitical Priorities.

Zinc and Silver are no longer just industrial commodities. They are now officially classified as Critical and Strategic Minerals (CSM). As such, they are at the center of economic and national security priorities for the governments of Quebec, Canada, and the United States.

These three administrations are currently deploying massive efforts and subsidies to secure reliable local supply chains in North America, aiming to reduce strategic dependence on Asian markets.

• Zinc: Identified by government strategic plans as a top-tier metal for the green transition (decarbonized infrastructure, wind farms) and for the emergence of large-scale energy storage technologies.
  
  
• Silver: The most efficient electrical conductor on the planet. It is classified as an essential critical material by high-tech industries due to its mandatory and non-substitutable presence in solar photovoltaic panels, defense electronics, aerospace, and high-performance components for electric vehicles.
  
  

The tables below illustrate the upward trajectory of these two metals over the last three years:

Zinc Price Evolution (3 Years - USD/tonne)

Silver Price Evolution (3 Years - USD/ounce)

Figure 1: General Location of the Barvue Property

Figure 2: Location of BMAs and Mining Concessions, Barvue

Figure 3: Location of Drill Sites for the Upcoming Drilling.

Figure 4: Longitudinal View of the Mineralized Envelopes and Deep Target Projections

Pascal Hamelin, President and Chief Executive Officer, commented: "With the recent rise in the price of silver, the Company has decided to unlock the value of the Volcanogenic Massive Sulphide projects within its own property portfolio. We possess the internal expertise to successfully conduct exploration on our base metal projects, thanks to the presence of Dr. Mathieu Piché in our exploration department. In Mathieu, we can rely on the experience and competence of one of the best geologists in Canada for VMS exploration. This upcoming drilling campaign will mark the rebirth of a former silver-producing mining camp in the Abitibi."

Qualified Persons

Robert Gagnon, P.Geo., Vice President of Exploration of the Company, and Dr. Mathieu Piché, P.Geo., have reviewed and approved the technical information contained in this press release.

About Abcourt Mines Inc.

Abcourt Mines Inc. is a Canadian gold development company with properties strategically located in northwestern Quebec, Canada. Abcourt owns the Sleeping Giant mine and mill and the Flordin property, where it focuses its activities.

For more information about Abcourt Mines Inc., please visit our website at www.abcourt.ca and view our filings under our profile on the SEDAR+ website at www.sedarplus.ca.

FORWARD-LOOKING STATEMENTS

Certain information contained in this press release may constitute "forward-looking information" within the meaning of Canadian securities legislation. Generally, forward-looking information can be identified by the use of 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 actions, events, or results "could", "should", "will" occur, "will be achieved", or other similar expressions.

Forward-looking statements 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, 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 documents, available on SEDAR+ at www.sedarplus.ca.

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. 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 these statements. Unless required by applicable securities laws, Abcourt disclaims any intention or obligation to update or revise any of these 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 press release.

Figures accompanying this announcement are available at:

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