RESULTS OBTAINED IN The Exploration Holes Drilled in the Fall of 2018 on the Discovery, Flordin, Aldermac and Abcourt-Barvue Properties

2019-03-20 / @thenewswire

(TheNewswire)

Rouyn-Noranda, Québec / TheNewswire / Canada, March 20, 2019 - Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) (“Abcourt” or the “Mines Abcourt inc.) announces the results of a surface drilling program completed in the Fall of 2018. Twenty-one holes totaling 4,835 meters were drilled on different properties. Several good values were obtained. See below:

Discovery Project:

The property covers the Cameron deformation corridor in the western extension of the Flordin property held 100% by Abcourt and the Cameron Shear, held 50% by Jien Canada Mining Ltd and 50% by Abcourt Mines inc., as Mines Aurbec inc. had earned 50% in this property before going bankrupt. Abcourt purchased all the assets of Mines Aurbec inc., including its interest in the Cameron Shear property.

The objective of the 2018 drilling program was to outline extensions to some of the best gold intersections obtained in the NAP Québec drilling campaigns of 2010 and 2011. Twelve (12) NQ holes, for a total of 2,757 meters were drilled between sections 400W and 1470E, covering zones “B” and “30”.

The Discovery property is located 35 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 Bruneau townships border line. The property is located on the Lac Simon Algonquin land of category III. It is owned 100% by Mines Abcourt Inc. It consists in 83 mining titles (CDC) totaling 4,165.7 hectares.

Several drilling programs were done and mineral resources were calculated in the past, but as several additional holes were drilled after the calculation of resources, Abcourt does not believe that these resources are suitable for disclosure.

Click Image To View Full Size

Location of the 2018 drill holes (yellow circles) and historical holes (green circles) as shown on

the interactive map of the MERN on a photo satellite base from the Google Earth software.

The table below shows the best results obtained in the 2018 drilling campaign. The length of the intersections in the core do not represent the true width of the zone. The true width of veins is about half the core length. These intersections are not all connected with zone B. Some may be in parallel zones.

------------------------------------------------ |Hole No.|From |To |(m) |Au |Targeted | | | | | | (g/t)|zone | |----------------------------------------------| |D18-215 |121.10|122.10|1.00|2.06 |30 - 600 E | |----------------------------------------------| |D18-217 |151.30|152.30|1.00|2.10 |30 - 1200 E| |----------------------------------------------| |D18-218 |75.65 |78.45 |2.80|4.37 |30 - 1200 E| |----------------------------------------------| |D18-223 |399.15|401.00|1.85|5.29 |B - 30 E | |----------------------------------------------| |" |414.10|416.25|2.15|5.90 |B - 30 E | |----------------------------------------------| |D18-224 |162.40|165.85|3.45|6.35 |B - 30 E | |----------------------------------------------| |" |200.00|202.00|2.00|38.20 |B - 30 E | |----------------------------------------------| |" |200.00|201.00|1.00|76.00 |B - 30 E | ------------------------------------------------

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.

Flordin project

The Flordin property consists in twenty-five (25) mining titles in the Desjardins and Franquet townships located about 40 km to the north of the Lebel-sur-Quévillon municipality. There is no royalty to pay. The property was acquired from Deloitte Restructuring Inc on February 23, 2016. Six holes were drilled for a total of 977 meters.

The property covers the Cameron deformation corridor over almost 4 km in the eastern extension of the Discovery property, held 100% by Abcourt and the Cameron Shear property held 50% by Jien Canada Mining Ltd and 50% by Abcourt Mines Inc as explained 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 resources calculation was done by InnovExplo in 2011, but Abcourt do not consider these calculations 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 bulk sample 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 2018 drilling campaign was to outline at depth some of the best gold intersections obtained previously in the 2010 and 2011 drilling by NAP Quebec inc.

Click Image To View Full Size

Central part of the Flordin property showing the historical drilling (green circles) and the 2018 drilling (red circles).

The best results are as follows:

-------------------------------------- |Hole No.|From |To |(m) |Au (g/t)| |------------------------------------| |FL18-253|123.00|126.15|3.15|1.95 | |------------------------------------| |FL18-254|38.25 |40.35 |2.10|6.49 | |------------------------------------| |" |47.70 |51.20 |3.50|22.63 | |------------------------------------| |FL18-255|81.00 |82.00 |1.00|2.94 | --------------------------------------

Hole FL18-254 was aimed at finding an extension along dip of a gold value of 103.7 g/t Au over 1.0 meter in hole FL11-251. The latter is located between the Flordin zone and the Cartwright showing where NAP Quebec drilled short holes on several sections, 50 meters apart. True width is about 70% of core length.

The FL18-254 hole intersected two gold zones. The first one, from 38.25 to 40.35 meters is located in the bottom part of a sheared basalt associated with a silicified and hematized zone that may contain up to 3% pyrite. The second zone, from 47.7 to 51.2 meters, is also located in the sheared basalt, with ankerite-hematite alteration and 8% of disseminated fine pyrite. This sector is the most promising of the 2018 drilling by Abcourt.

The high grade found in hole FL18-254, that is 6.49 g/t Au over 2.1 meters and 22.63 g/t Au over 3.50 meters, confirm the excellent results given by hole FL11-251, that is 7.98 g/t Au over 2.10 meters and 103.10 g/t Au over 1.0 meter drilled in 2011. Even if these values are not connected, this sector indicates a good potential for several reasons:

Results in hole FL18-254 are the most encouraging found since 2011 on the Flordin property;

The pyrite mineralization is found in a strongly altered zone with ankerite and hematite;

The Gold enrichment zone is not associated with quartz-carbonate veinlets in the basalt shear zone. The latter is sometimes magnetic;

The structure is open laterally and at depth.

QUALITY CONTROL QA/QC

To have more representative statistics, the QA/QC assays done for the Discovery and Flordin projects were combined. These properties are in the same deformation corridor with the same geological units. It is therefore probable that the gold mineralization is contemporary for both projects. The Mississauga Agat Laboratory is accredited ISO 17025 by the Canadian Council of Standards and is independent of Abcourt Mines Inc.

Out of the 491 samples assayed for the 2018 drilling program, forty-four (44) of them were blanks, standards or duplicates, representing 10% of assays done for QA/QC.

ABCOUT-BARVUE PROPERTY

The Quebec Mining Law requires a minimum of exploration work to be done on the mining concessions every year to keep them.

One 360-meter hole was drilled on the Abcourt-Barvue mining concession to comply. The best intersection, from 251.0 to 259.5 meters, for 8.55 meters gave 28.55 g/t of silver and 1.29% zinc. The true width is 7.25 meters. The assays were done at the Agat Laboratory in Toronto. Assays done on standard samples used by the Agat Laboratory have not shown any significant discrepancy.

ALDERMAC PROPERTY

Two holes, for a total of 792 meters, were drilled on the Aldermac property. This property covers 303 hectares.

The first hole cut a new copper zone, giving 0.22 g/t of gold, 28.41 g/t of silver and 2.06% Cu over 6.4 meters. The true width of the zone is probably equal to the length of the intersection. Additional drilling in this area is justified.

The second hole was drilled to check a magnetic anomaly. There was no significant value in the core.

Assays were done by the Agat Laboratory in Toronto. Assays on standard samples by the Agat Laboratory did not show any significant differences.

STRATEGY AND OUTLOOK

Currently, the Company is focussing on stabilizing and increasing the Elder production. Our objective is to produce 12,500 tonnes per month of gold mineralization.

To reduce the operating cost per tonne treated, we wish to use the full capacity of the Sleeping Giant mill by treating custom ore.

For the long-term, in the gold sector, the Company has started a drilling program on the Discovery and Flordin gold properties where substantial gold mineralization is found.

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 an updated gold resources (2018) and an updated P.E.A. study (2018). 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.

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 recently filed. Some custom milling is now being done.

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 Person” 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 on the date of this news release.

For more information, please contact:

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