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#1 Posted : Tuesday, December 22, 2020 1:36:56 PM(UTC)

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Abcourt's directors have approved a $1.6M exploration program on the sleeping giant, discovery and flordin gold properties

Sleeping Giant mine, vein 8 At the Sleeping Giant mine, the objective is to explore the upper part of vein 8 by diamond drilling.A total of 6,000 meters is planned. In the past, vein 8 was mined from level 485 m to level 975 m,where the vein is relatively closer to shaft No 2. The production totalled 628,000 tonnes with gradeof 12.12 g/t Au. Some lateral extensions were left as shown by several intersections shown on thevertical projection of the plan attached.On the upper levels, with a 32o to 45o dip the vein moves away from shaft No 2 as it goes up. In thepast, with low gold prices, the exploration and mining of this part of vein 8 was not consideredfeasible.With the current gold price ($1,500 US or $2,000 CDA) our mine geologist considers the upper partof vein 8 as a very nice exploration target with a potential of 1,3 M tonnes of mineralization with agrade of about 12 g/t of gold. Discovery Project The Discovery property covers the Cameron deformation corridor in the western extension of theFlordin property held 100% by Abcourt and the Cameron Shear property held 50% by Jien CanadaMining Ltd and 50% by Abcourt Mines Inc. The property was acquired from Deloitte RestructuringInc. on February 23, 2016. There is no royalty to pay.The Discovery property is located 60 km to the north-west of the Lebel-Sur-Quévillon municipality,Quebec, Canada. It is located on the SNRC 32F/06 map and straddle the Desjardins and Bruneautownships border line. The property is located on the Lac Simon Algonquin land of category III. Itconsists in 83 mining titles (CDC) totaling 4,165.7 hectares.The gold mineralization on the Discovery property is found in veins. It is made up of 1 to 5%pyrrhotite and pyrite associated with quartz-ankerite. Walls are sometimes albitized and silicified.The sulfides are disseminated or injected in irregular or tension fractures. Several drilling programs were done and mineral resources were calculated in the past, but asadditional holes were drilled after the calculation of resources, Abcourt does not believe that theseresources are suitable for disclosure.Most of the drilling in the past was done to outline several veins or mineralized zones from surfaceto a depth of about 300 meters. The 2019 drilling program is planned to find the depth extension ofthis mineralized zone. Flordin Project The Flordin property consists in twenty-five (25) mining titles in the Desjardins and Franquettownships located about 40 km to the north of the Lebel-Sur-Quévillon municipality. There is noroyalty to pay. The property was acquired from Deloitte Restructuring Inc. on February 23, 2016.The property covers the Cameron deformation corridor over almost 4 km in the eastern extensionof the Discovery property, held 100% by Abcourt and the Cameron Shear property held 50% byJien Canada Mining Ltd and 50% by Abcourt Mines Inc. as mentioned previously.The approximate UTM coordinates of the main showing are 358,740 E and 463,840 N (zone 18).The property is located in the Lac Simon Algonquin category III territory.Mineralization extends over a distance of 3 Km. In the past, several holes were drilled and aresource calculation was done by InnovExplo in 2011, but Abcourt does not consider thesecalculations as current and does not believe they are suitable for publication.In 1987-1988, a ramp was excavated in zone B and two bulk samples were taken. The bulksample mineralization was treated at the Bachelor mill and the following results were obtained: 5,174 tonnes at 2.51 g/t Au in 1987 (Sullivan/Bachelor) 4,053 tonnes at 4.25 g/t Au in 1988 (Cambior/Bachelor)The objective of the 2019 drilling campaign is to outline at depth some of the best goldintersections obtained previously in the 2010 and 2011 drilling by NAP Quebec Inc.On the Discovery and Flordin properties, it is planned to drill about 10,000 meters.

Check the full copy of the press release here

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