Abcourt Appoints a New Director and Grants Stock Options

ROUYN-NORANDA, Québec, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. ("Abcourt" or the "Corporation") (TSX Venture: ABI) announces it has appointed Jasmine Hinse as director of the Corporation, in replacement of Renaud Hinse, who died in June 2023.

Jasmine Hinse has a Bachelor's degree in Law and a Notarial Law diploma from Laval University and she was member of the Barreau du Quebec from 2004 until she retired in 2020. She has also completed the university certification program in corporate governance from the College of Corporate Directors of Laval University. From 2006 to 2020, she held the position of Director of Corporate Legal Affairs at Fondaction, the Development Fund of the Confederation of National Trade Unions for cooperation and employment. Previously, from 2000 to 2006, she held the following positions at the Caisse de dépôt et placement du Québec: Deputy Secretary General at the General Secretariat and Legal Advisor for a real estate subsidiary. Until 2000, Ms Hinse practiced as a notary in a firm established in Val-d'Or.

The Board of Directors of Abcourt has also granted an aggregate amount of 17,500,000 common share purchase options to its directors and officers and to employees and some consultants, of which 13,300,000 options to the directors and officers and 1,800,000 to persons performing investor relations activities. The options were granted at an exercise price of $0.05 and will expire on August 23, 2028. The options were granted pursuant to the Stock Option Plan of Abcourt, which was modified by the Board of Directors to increase the maximum number of common shares that can be issued upon exercise of options to 42,810,000, representing 10% of the outstanding common shares of Abcourt. This amendment to the stock option plan is subject to the approval of the TSX Venture Exchange.

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.

To know more about Abcourt Mines Inc., please visit our web site at www.abcourt.ca and consult our filings under Abcourt's profile on www.sedar.com.

The TSX Venture Exchange and its regulatory service provider (as defined in the policies of the TSX Venture Exchange) assumes no responsibility for the adequacy or accuracy of this press release.