Abcourt Announces Private Placement Extension and Results of the Special Meeting of Shareholders - Seite 2

Following the Meeting, Abcourt issued 7,648,312 additional Units to SARL MF, an entity controlled by François Mestrallet. As a result, François Mestrallet became a Control Person of the Corporation.

Please refer to the Corporation’s management information circular dated March 22, 2024 and the Corporation’s news releases dated March 26, 2024 and April 23, 2024 for further details.

Early Warning Report

These 7,648,312 Units were issued in consideration for an amount of $382,415 which had been held in escrow pending disinterested shareholders approval and which is part of a total investment of $1,000,000 representing 20,000,000 Units at a price of $0.05 per Unit, made by François Mestrallet in the context of the Offering (the “Investment).

Prior to the Investment, Mr. Mestrallet held, together with his associates and affiliates, 91,949,000 Shares, 32,500,000 warrants to purchase Shares and 1,500,000 stock options, which represented 18.6% of the 494,778,759 Shares then issued and outstanding on a non-diluted basis (23.8% assuming the exercise of the convertible securities).

As of the date hereof, Mr. Mestrallet holds, together with his associates and affiliates, 112,349,000 Shares, 52,900,000 Warrants and 1,500,000 stock options, which represent 20.44% of the 549,461,759 Shares currently issued and outstanding on a non-diluted basis (27,6% assuming the exercise of the convertible securities).

Mr. Mestrallet participated in the Private Placement to support the short and medium-term growth of the Corporation. He intends to hold his securities for investment purposes and may, depending on certain circumstances, including market conditions, increase or decrease his beneficial ownership of or control over the Corporation's Shares, warrants or other securities.

The Form 62-103F1 - Required Disclosure under the Early Warning Requirements associated with this news release can be obtained from the Corporation's profile on SEDAR+ at www.sedarplus.ca. To obtain a copy of the report, please contact Pascal Hamelin, President and CEO of Abcourt, at [phone] or [e-mail].

ABOUT ABCOURT MINES INC.

Abcourt Mines Inc. is 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.

Abcourt’s head office is located at 475 de l’Église Avenue, Rouyn-Noranda, QC J0Z1Y0

For further information, please visit our website at www.abcourt.ca and consult our filings under Abcourt's profile on www.sedarplus.ca, or contact: