ROUYN-NORANDA, Quebec, April 04, 2023 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) is pleased to announce that the cleanup of its Sleeping Giant mill has continued with the recovery and sale of 2,394 ounces of gold during the quarter ended March 31, 2023.

Abcourt commissioned a firm specializing in gold processing plant cleaning in August 2022. This firm began cleaning the plant in September and concluded the gold recovery process in February 2023. The recovered material was sent to a specialized refinery. Gold recovery will continue from this refinery during the months of April and May 2023 for Abcourt.

Abcourt recovered the gold that had been stored for decades in the circuit of the Sleeping Giant Mill. It should be noted that the plant began operations in 1988 and that more than 3,000,000 tonnes of ore with a grade greater than 10 g/t Au were processed between 1988 and 2014.

Currently, an independent firm is carrying out a preliminary economic assessment (PEA) on the Sleeping Giant Mine based on the Mineral Resource Estimate (MRE) published in December 2022. See the press release published on December 13, 2022 as well as the NI 43-101 technical report and Mineral Resource Estimate for the Sleeping Giant Mine filed on SEDAR on January 25, 2023 for further information. Abcourt plans to publish this PEA in the coming weeks.

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.

Mr. Hamelin is a qualified person under NI 43-101.

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.

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:

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 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.