ROUYN-NORANDA, Quebec, July 16, 2026 (GLOBE NEWSWIRE) -- Abcourt Mines Inc- ("Abcourt" or the "Company") is pleased to present a major, unaudited operational update for the fourth quarter (Q4) ending June 30, 2026, as well as the year-to-date consolidated results for its Sleeping Giant gold mine, located in Abitibi, Quebec.
Q4 2026 Operational Highlights (Quarter ended June 30, 2026):
- Strong acceleration in mill processing: A total of 11,891 tonnes of ore was processed during Q4, representing an impressive 160% increase compared to the previous quarter (7,445 tonnes in Q3). The month of June marked a historical peak for the year with 5,229 tonnes milled.
- Ongoing gold production: Gold production in Q4 amounted to 720 ounces produced (with 646 ounces poured), bringing the annual cumulative total to 3,628 ounces produced (including 2,647 ounces poured for the fiscal year).
- Underground development up 180%: Underground mine development reached a record 554 meters in Q4 (including 215 meters in the month of June alone), compared to 307 meters in Q3.
- Intensification of exploration drilling: Diamond drilling totaled 11,059 meters in Q4, representing a 155% increase compared to Q3, demonstrating the sustained effort to expand the mine's resources.
- Start of the first Long Hole stope: The drill is currently operating in the mine, allowing the start of long hole stope extraction.
Detailed Operational Data - 2025-2026 Fiscal Year
The following table presents the monthly and quarterly evolution of mill activities and underground operations at the Sleeping Giant mine:
- Processing Plant Operations
| Period | Tonnes Milled | Grade (g/t Au) | Ounces Fed | Recovery Rate (%) | Ounces Produced | Ounces Poured | |
| July 2025 | 0 | 0 | 0 | 0.00: | 0 | 0 | |
| August 2025 | 1 072 | 5.66 | 195 | 100.00: | 195 | 0 | |
| September 2025 | 2 439 | 5.98 | 469 | 92.80: | 435 | 26 | |
| TOTAL-Q1 (09/30/25) | 3 511 | 5.88 | 664 | 94.90: | 630 | 26 | |
| October 2025 | 2 563 | 6 | 496.8 | 95.60: | 475 | 124 | |
| November 2025 | 1 346 | 7.2 | 311 | 95.80: | 298 | 425 | |
| December 2025 | 1 743 | 5.7 | 317 | 97.20: | 308 | 288 | |
| TOTAL-Q2 (12/31/25) | 5 652 | 6.2 | 1 124.8 | 96.10: | 1 081 | 837 | |
| January 2026 | 2 759 | 7.3 | 644 | 97.20: | 626 | 374 | |
| February 2026 | 1 803 | 5.7 | 328 | 97.00: | 318 | 398 | |
| March 2026 | 2 883 | 3 | 278 | 91.00: | 253 | 366 | |
| TOTAL-Q3 (03/31/26) | 7 445 | 5.2 | 1 250.0 | 95.80: | 1 197 | 1 138 | |
| April 2026 | 2 872 | 1.8 | 162 | 87.00: | 141 | 282 | |
| May 2026 | 3 790 | 2 | 239.8 | 90.10: | 216 | 189 | |
| June 2026 | 5 229 | 2.3 | 393 | 92.40: | 363 | 175 | |
| TOTAL-Q4 (06/30/26) | 11 891 | 2.1 | 794.8 | 90.60: | 720 | 646 | |
| Cumulative (YTD) | 28 499 | 4.18 | 3 834.0 | 94.60: | 3 628 | 2 647 | |
Production Variance Analysis:
- Milled Tonnage (Q4 vs Q3): +160% in mill throughput capacity, driven by the ongoing training of the underground workforce.
- Average Grade: The average grade for the fiscal year stands at 4.18 g/t Au. The decrease in Q4 (2.1 g/t) reflects the processing of lower-grade development zones, typical of a transitional expansion phase in underground workings.
- Ounces Produced (Q4 vs Q3): 60 % of Q3 production, directly correlated with the lower grade during these three months, though partially offset by the increased mill throughput.
- Underground Operations and Development
| Period | Diamond Drill (m) | Gallery Rehabilitation (m) | Underground Development (m) | |||
| T1 | 6 467 | 1 703 | 71.6 | |||
| T2 | 4 572 | 903 | 290 | |||
| T3 | 7 153 | 455 | 307 | |||
| T4 | 11 059 | 1 052 | 554 | |||
| Variations T4 vs T3 | 155: | 231: | 180: | |||
| Total YTD | 29 251 m | 4 113 m | 1 222.6 m | |||
Underground mine development experienced a major leap in Q4 with 554 meters completed (a 180% increase compared to Q3). Gallery rehabilitation also showed a marked increase of 231% (1,052 m compared to 455 m in Q3), which will help improve the number of available working faces in the future.
A message from Management:
"This fourth quarter demonstrates the success of our ramp-up phase at Sleeping Giant," states Pascal Hamelin, President and CEO of Abcourt Mines. "Despite temporarily lower grades this quarter, due to mine plan sequencing, mill efficiency and daily throughput have reached new heights. With over 11,000 meters of drilling and 1,052 meters of rehabilitated galleries during the last quarter, we are laying solid foundations for the upcoming fiscal year."
Qualified Person: Pascal Hamelin, P. Eng., President and Chief Executive Officer of the Company, has reviewed and approved the technical information contained in this press release. Mr. Hamelin is a Qualified Person under National Instrument 43-101.
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 further information about Abcourt Mines Inc., please visit our website at www.abcourt.ca and the documents filed under our profile on the SEDAR+ website at www.sedarplus.ca
Pascal HamelinDany Cenac Robert
President and CEOVP Communication and Corporate Development
T: (819) 768-2857 T: (514) 722-2276, poste 456
Email: phamelin@abcourt.com Email: ir@abcourt.com
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 acts, events, or results "could", "should" occur, "will occur", or "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 and uncertainties, as well as 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.
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