Abcourt Announces the Re-Start of Mining Activities at The Elder Mine and the Re-Opening of The Sleeping Giant Mill

2020-04-16 / @thenewswire

(TheNewswire)

Rouyn-Noranda, Québec – TheNewswire - Canada, April 16th, 2020

Abcourt Mines Inc. (TSXV:ABI) (Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) (“Abcourt” or the “Mines Abcourt inc.) is pleased to announce the re-start of mining activities at the Elder mine following the addition of mines by the Quebec government to the priority list of services. The Sleeping Giant mill will be re-opened early next week.

We have prepared a management plan for sanitary measures according to the interim recommendations of prevention measures concerning the exploitation of mines by the National Institute of public health.

Following a first call-back to work, 75% of miners came in yesterday. We believe that those absent will come when they learn that the mine is open and that all sanitary recommendations are respected.

The re-start of mining operations will enable us to profit from the important increase in the price of gold in recent weeks

ABOUT ABCOURT MINES INC.

Abcourt Mines Inc. is a gold producer and a Canadian exploration company with strategically located properties in northwestern Quebec, Canada. The Elder property has gold resources (2018) and a positive P.E.A. study (2012). Abcourt is focusing on the exploitation of the Elder mine.

The Abcourt-Barvue property has silver–zinc reserves (2019). A feasibility study was completed in 2007 by Roche / Genivar. An update was completed in January 2019. A total of 8.07 M tonnes of proven and probable reserves with a grade of 51.79 g/t of silver and 2.83 % zinc are available to be mined. About 81.6 % of the tonnes are mineable by open pit and 18.4 % will be mined underground. The infered resources total 2.07 M tonnes with a grade of 114.16 g/t of silver and 2.89 % zinc.

In 2016, Abcourt acquired the Sleeping Giant mine and mill, located half-way between Amos and Matagami, in Abitibi, Quebec, in the territory covered by the Plan Nord of the Quebec government. The mill has a capacity of 700 to 750 tonnes per day. A NI 43-101 resource estimate was first completed. A feasibility study was recently completed and most of the resources were converted to proven and probable reserves. A surface drilling program is planned.

To know more about Abcourt Mines Inc. (TSXV: ABI), please visit our web site at www.abcourt.com and consult our filings under Abcourt’s profile on www.sedar.com.

This press release was prepared by Mr. Renaud Hinse, Engineer and President of Abcourt Mines Inc. Mr. Hinse is a “Qualified Persons” under the terms of Regulation 43‑101. Mr. Hinse has approved the scientific and technical disclosure.

FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward-looking statements. The forward-looking statements are based on current expectations and apply only as of the date on which they are made. Except as may be required by law, the Corporation undertakes no obligation and disclaims any responsibility to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include changes in the prevailing price of gold, the Canadian-United States exchange rate, grade of ore mined and unforeseen difficulties in mining operations that could affect revenue and production costs. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in Abcourt’ annual and periodic reports. The forward-looking information contained herein is made as of the date of this news release.

For more information, please contact:

--------------------------------------------------------------------------- | Renaud Hinse, President and CEO| Dany Cenac Robert, Investor Relations| | T : 819 768-2857 450 446-5511| Reseau ProMarket Inc., | | F : 819 768-5475 450 446-3550| T:(514) 722-2276 x456 | | Email:rhinse@abcourt.com | Dany.Cenac-Robert@ReseauProMarket.com| ---------------------------------------------------------------------------

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.