Abcourt Mines Inc. (TSX-V: ABI) (OTCQB: ABMBF) is pleased to announce that it has closed its previously announced transaction with Glencore AG to increase the aggregate principal amount of the senior secured debenture announced on January 30, 2026 from US$30,000,000 to US$40,000,000.

Under the original senior secured debenture, a first tranche in the amount of US$18,125,000 was made available to Abcourt on January 30, 2026.

Under the Upsized Debenture, the second tranche was increased from US$11,875,000 to US$21,875,000 and will be advanced in two instalments. The first instalment, in the amount of US$19,875,000, was advanced on the Closing Date. The remaining instalment, in the amount of US$2,000,000, will be advanced in October 2026.

No other material changes are proposed to the original senior secured debenture. Please see Abcourt’s news releases dated January 30, 2026 and August 6, 2026 for further details.

The Corporation used a part of the proceeds from the first instalment under the Upsized Debenture to repay a US$12,000,000 secured credit facility with Nebari Natural Resources Credit Fund II, LP. The Corporation intends to use the remainder of the proceeds from the Upsized Debenture to (i) fund exploration work and capital expenditures at its Sleeping Giant and Flordin projects and (ii) provide additional working capital.

The Upsized Debenture will mature on January 31, 2031 and bears interest until repayment in full at a rate equal to 1-Month SOFR plus 2.5% per annum.

In accordance with the terms of the Upsized Debenture, the Corporation entered into a security arrangement with Glencore to register a first ranking security, subject to certain permitted liens, on the universality of the Corporation’s movable and immovable property, corporeal and incorporeal, present and future, of any nature whatsoever and wheresoever situated, including real property interests, mining rights, inventory and equipment.

The Corporation issued 46,943,333 non-transferable warrants to Glencore on the Closing Date. Each Warrant is exercisable to acquire one common share of the Corporation at an exercise price of C$0.12 per Warrant Share until April 30, 2030.

The Warrants remain subject to the final approval of the TSXV. The Warrants and any Warrant Shares issuable upon exercise thereof are subject to a statutory hold period in Canada expiring on January 3, 2027. These securities have not been, nor will they be, registered under the U.S. Securities Act, or any state securities law, and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration or an exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.

ABOUT ABCOURT MINES INC.

Abcourt Mines Inc. is a Canadian gold development company with properties strategically located in northwestern Québec, Canada. Abcourt owns the Sleeping Giant Mine and Mill, as well as the Flordin property, where it focuses its development activities.