Results from the Annual Shareholders Meeting

(TheNewswire)

Rouyn-Noranda, Quebec – TheNewswire - March 31, 2021

Abcourt Mines Inc. (« Abcourt » or the « Corporation ») (TSXV: ABI) is pleased to announce the results of its Annual and General meeting of shareholders held on March 18, 2021.  The shareholders approved the appointment of Raymond Chabot Grant Thornton., Professional Chartered Accountants, as auditors of the Corporation and the election of the following directors: Daniel Adam, René Branchaud, Jean-Guy Courtois, Normand Hinse, Renaud Hinse, François Mestrallet and Nicole Veilleux. Me René Branchaud, new director, is partner of the law firm Lavery, de Billy L.L.P. of Montreal.  He is also director and secretary of Midland Exploration Inc., a Canadian mining exploration company listed on the TSX Venture Exchange and director and secretary of Genius Metals Inc., a Canadian mining exploration company listed on the Canadian Stock Exchange.

At the Board meeting that followed the shareholders meeting, the Board of Directors has appointed Renaud Hinse as President and Chief Executive Officer, Normand Hinse, as Chief Financial Officer and Julie Godard, lawyer, as Corporate Secretary and Jasmine Hinse as assistant corporate secretary.  Also, the following directors were reappointed on the Audit Committee:  Nicole Veilleux, Normand Hinse and François Mestrallet and Renaud Hinse, Normand Hinse and Daniel Adam were reappointed on the Environment, Human Resources and Health and Safety Committee.  A new remuneration committee was created, with the following independent members: René Branchaud, Nicole Veilleux and François Mestrallet.

This press release was prepared by Mr. Renaud Hinse, Engineer and President of Abcourt Mines Inc. Mr. Hinse is a “Qualified Person” under the terms of Regulation 43 101.  Mr. Hinse has approved the scientific and technical disclosure below.

ABOUT ABCOURT MINES INC.

Abcourt is a gold producer and a Canadian exploration company with strategically located properties in northwestern Quebec, Canada. The Elder property has gold resources. Abcourt is currently focusing on the exploitation of the Elder mine and on the development of the Sleeping Giant mine.  

In 2016, Abcourt acquired the Sleeping Giant mine and mill, located half-way between Amos and Matagami, in Abitibi, Province of Quebec. The mill has a capacity to treat 700 to 750 tonnes per day. An evolution of the mineral resources, according to Ni-43-101 was prepared by Mr. Valère Larouche, consulting engineer in geology. It was filed on Sedar on may 13, 2019.

Measured mineral resources total 10,900 tonnes with a grade of 12.20 g/t of gold and indicated resources total 475,625 tonnes with a grade of 11.20 g/t of gold. Inferred resources are 93,100 tonnes with a grade of 11.85 g/t of gold. A NI 43-101 feasibility study was completed in July 2019 by PRB Mining Services Inc. Probable reserves according to MI 43-101 have been estimated at 339,221 tonnes with a grade of 7.9 g/t of gold.

The Abcourt-Barvue property has silver–zinc reserves (2019). A NI 43-101 feasibility study was completed in 2007 by Roche / Genivar. An update was completed in July 2019 by PRB Mining Services Inc. A total of 8.07M tonnes are in proven and probable reserves with a grade of 51.79 g/t of silver and 2.83% zinc. About 81.6% of these reserves are mineable by open pit and 18.4% are mineable by underground operations. Inferred resources total 2.07M tonnes with a grade of 114.16 g/t of silver and 2.89% zinc.

For the long term in gold, the Corporation has prepared a $ 2M exploration programme, mainly for the Sleeping Giant mine where important targets of gold mineralization have not yet been explored.

To know more about Abcourt Mines Inc. (TSXV: ABI), please visit our web site at www.abcourt.com and consult our filings under Abcourt’s profile on www.sedar.com.

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Neither 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.

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