Abcourt Mines Inc.

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Who's president and chief executive of Abcourt Mines. Good afternoon everyone. Oh, OK. So good afternoon everyone. Thanks for, attending my presentation. today I'll be talking about a property in northern Quebec. it's a gold asset Abcor 100% owned by Abcorp. I'm Pascal Hamlin, the VP, sorry, the, the QP, the QP for the company. I'm the CEO 35 years as a mining engineer building mines and operating mines in the, in Ontario and in Quebec. So why invest in Abcor? Pretty straightforward. We're a gold producer, emerging gold producer. We're in development. We turned on the mill, last summer. We're ramping up production right now with the labor force. It's fully permitted. we're on the power grid. We have the power allocated to us. We're already paying our, hydroelectric bills. so right now what's on the critical path is hiring miners, training them. we all have the technical staff. Everybody's on the payroll. I have 143 employees working right now at the site, and, right now it's a matter of training the miners and developing the drift towards, the stops. It's an underground mine, narrow vein, high grade. we also have, this is not a single asset, company, we have 15 assets in our portfolio and we had a discovery in 2024. I'll talk about that at the end and it's all within all these properties are all within trucking distance from the mill, less than 2000. The board of director, well versed, our chairman Nizin, Mokadem, is the founder of, Aya Gold and Silver. he joined Abco in, summer 24 through a private placement. He owns 15% of the company. We also have another director who owns close to 20%. and we're all, Francophone and we're all. you know, we have capital market, legal, accounting, and mining. The management the management team, we all live in Quebec. We're all driving distance from the mine. I live in Valdor myself. I'm, 1 hour 50 minutes from the mine site. Robert Gano, my VP exploration, lives also in Valdor. We're in the mining camp. We know, we know people in the camp. We meet them at the grocery. We know the consultant. We know the, the, the suppliers. So it helps when you, when you need to look for a specific, piece of equipment. Capital structure, like I said, 37% of the company is owned by management and directors. The high net worth investors are business people that live, within, within the camp. So for example, we have a mining contractor who bought 6% of the company. We have a diamond drilling contractor who bought 3% of the company. So the, the orange are people that are that like the asset because Sleeping Giant is a well known asset. So a lot of people, they believe in it, so they, they participated in, in previous, private placement. We have analyst coverage. one has a pricing target. Core Capital from Vancouver issued a price target of 27 cents. today we're sitting at 10 cents, so there's upside potential with this company. We're cashed up. The reason is we have financial partners. we have Glencore. Glencore participated in the debt financing with us, in January 26 $30 million US. What they want is, metal. They want sulfur. They want sulfide. They want gold, silver, zinc, copper. We have all that in our portfolio. it's pretty, pretty good interest, you know, SORF plus 2.5, and they have the right to participate in all future financing, so I have a big brother now. the off-take agreement with the Glencore, there's no discount. for the gold and silver, it's a 5 day rolling average of the London closing price, the, the afternoon closing, so there's no discount on the beside the, the rolling average for the week. Nebari came in before Nebari came in in July 25, and they're the one that allowed us to put the mine in production, a little bit more expensive, but they were also taking more risk in July when they signed the agreement in June 25. Glencore, facility will replace Nebari in December 26th, so Nebari would be paid off in December. Our project portfolio all in Quebec, The were Valdor. If you see Valdor, it's a little bit smaller here, but it's it's 1 hour 45 minutes from the mine site. the Sleeping Giant is a big star number one. It's on the, it's on the highway. It's on the power grid. Huh, oh, sorry, yeah, but the Glencore mill, the Glencore smelter is in Roynarenda, so Glencore is already in the camp too. They have the Glencore smelter in Raynarenda, and they have a zinc concentrator in Matagamy just north of the Sleeping Giant. what I'm gonna talk a little bit later is, the Flaudan Cartwright discovery. That one is 6 kilometers from the highway. We did the discovery in 2024. after we made the discovery, there was consolidation around us. All the claims got purchased and purchased from smaller prospector. So now we have, it was a Niku Ele up until March, and now it's a view. And Nico sold that property to your early March. So if your is gonna do a 20,000 m drill campaign directly beside us, you'll see why. So first of all, Sleeping Giant, because I have, like I mentioned, I have 143 employees. 140 of them works at Sleeping Giant. That's our energy. This is where our energy goes for the next, the next year until we're cash flow positive. So it's an 800 deposit, 340 tons a day average, 6 year life. That's if we don't find anything else. I'm already drilling, so this is based from a technical report we did in 2022. So and we have been drilling since, so we have an updated model that we're continuing, update with additional drilling. In 2027 we're gonna res we, we will do a resource update, but right now there's no rush for us. The, the focus is on ramping up production and generating cash flow. one thing to know, 340 tons a day, that's 40% capacity in the mill, so that mill is permitted for 950 tons a day, and, we have custom milling permits so I can process material from third party. So what it would look like at $4000 and $4000 dollar goals, so it's called m xyz because we're outside the sensitivity chart of our technical report. So you're looking at margins of around $100 million per year for six years, $600 million. The NPV probably around, if you bother doing an NPV on this, you're looking at probably 450 US for a mine like this and we're at $100 million US market cap right now. So this is our production ramp up we're we just disclosed the number from the the quarter we just ended March 31st we produce close a little bit over 1200 ounces, for the quarter ending, March 31st. So some historical fact, it was a million ounces was already, extracted from that deposit at 10.3 g. Recovery in the mill over 96% is very efficient mill, it's a cyanide leaching circuit, CIP, The, we have, we have the 50 men sleep camp, already built, but we commissioned an additional 36 room, Monday. So now it's in place too. for the environmentals in place, the environmental bond, we have the collateral sitting at, at the bank and the insurance, bond for the remaining of the environmental collateral, and we're on the power grid. The upside, where do we see upside? The green is the mine plan. So the next 6 years, the 180,000 ounces of gold that we're gonna be mining the next 6 years are the, the green, the green shape. Those are the stops, those are the finest. The gray is what was mined historically, that million ounces. The red dots are all drill intercept over 25 g, but they're not in the resource estimate because the drill spacing is too far apart. You need to be within 75 m to call, to be called inford. So these are, these drill spacing are over 75 m. That's why they're, they're drill targets. They're nice drill intercept over 25 g, but you need to put a hole beside it, so it, it needs drilling, but you can see the upside and going down that depth to the east, this is a section view looking north. And the, the red line, the red vertical line is our shaft. This is shaft access. The shaft can hoist 1500 tons a day, so it's not a bottleneck. The bottleneck are the mining fronts underground and the size of the stoves. We're, we're dealing with 30 centimeter stope, so I could fill the middle 800 tons a day, but I'll ship 3 g material. Our goal is to keep the rock underground, ship or to surface. This is a geology model. 98% of the resources are above shaft bottom, so it means minimal capex to access the ore. So all we have to do is drive the lateral drift towards the ozone. this is technical note, so you just state here, I highlighted in, in yellow what's what's considered inferred. It's 75 m and indicated you need to have 3 holes minimum within, 30 m, and we drill even further for mining. So for mining we target 10 m drill spacing. The mining lease, it's, the red polygon is the mining lease. We're fully permitted licensed to do all mining activities. We have surface right and underground rights. The black polygon is our underground mining titles. So for us, if we discover something, we already have drill intercept at 10 g here. So if we find something there. We need to apply for the for the mining lease to get the surface right but we own we own the mineral rights on the ground, so we have lots of room to the east where the the down plunge is heading. Now, the, the, the Cartwright deposit where I told you we had a a discovery in 2024. There was a head frame there in 1939, the worst time of the world, of the year, of the, probably the century to start a mine, a gold mine, beginning of the war. So in Canada, all the, all the miners were transferred to copper mines, nickel mines. To start a gold mine in 1939, that was not good timing, so it went forgotten. actually, even the, the Quebec government data, there's a very good database in, within the Quebec government that was this deposit was a one pager from a 1948 mining report and it was not even in French, so it gives you, so we had a big wildfire over there in that region in 2023, so. The, the lumber company, opened up the area, rebuild the road, so we had a road right beside the deposit and. Back in 24, early 24, we're looking to invest money at Sleeping Giant, so I asked my VPX, can we, can we divest any asset, you know, could we sell anything to, to another company so we can fund Sleeping Giant? But when we made that discovery, we said, well, I guess that's no longer for sale, so it's not, it's not for sale anymore. we did a channel that you see the channel there? It's a sulfide ore 22 g over 7 m. So the first thing I went there, I said, well, the vein is going in the in the forest. So he says yes, so we asked for another permit to expand the stripping. And you don't see it very well here, but it's a sulfide. It's a disseminated pyrite, and the gold is associated with that. There's no quartz. It's it's a sulfide ore. So we asked for a permit. That's a picture from early October 24. We exposed the vein even more, The one channel was 10 g over 12 m. This one here. And then now in 2025 we completed all the channels and we got 300 m now of exposed vein 15 to 20 m wide. The average grade of all these channels, this is like if we did a technical report, it would be small tonnage, 300 m times maybe 20 m deep, but this is measured resource. We've got channels every like we have 1 m assay for every channels, every channel's every 15 m. And the average grade is 5 g, so we have, we have resource at 5 g. Right on surface So what we did is we did a geophysics survey in January. Well, we did it in November 25, we released it to the market and now we have a target that is 2 kilometer long. That's, that's public domain, what you saw the stripping the 300 m is this year. You see this here, this is our claim boundary, so it's 100% owned by AbCorp. This is, to the right to the east. It belongs to Vor now. Soy is doing a drill campaign right here, right adjacent to us. They call it Kennebick. They don't wanna give us marketing, so they call it differently, but it's the same vein. It's the Cartwright, so they themselves, they call it Kennebick. We call it Cartwright, but it's the same zone. it goes, so we have targets now 2 kilometers long, so we began a drill campaign at the end of January. We're gonna be drilling 20,000 m this year, one rig for the full year, and, we're gonna issue drill results. As we progress, we already have, I think, 8 holes in the assay lab in Valor. And if this becomes a mine one day, it's 138 kilometers by forestry roads to our sleeping giant mill. So, but if like right now it seems to look pretty big, so if it's big we're not gonna truck the material we're gonna build a concentrator there. this is again side notes, technical notes, so 2026 pretty straight sto, straightforward story grow the production at Sleeping Giant to 2500 ounces per month, so 30,000 ounces a year. we're already achieved the 3000 m per month. We got that in March, so now I'm targeting 4000 m. We want to declare commercial production Q3. And advanced cartwright in the meantime, custom milling, we have the permit for custom milling. So now we're looking for customer like we're looking for a client that has, material to process. But we have a very clean tilling facility, so if you have arsenal pyrite, forget it. so again, near term producer growing the resource, within the Sleeping giant camp. any questions from the room? Alright, just a quick one then from, from me, you're doing the 20 kilometers of, of drilling. When do you expect that will be in an MRE type form? Is that early next year? probably first half of 2026, 20207, usually like people try to have that ready for PDAC, so probably around there. OK, exciting. The, the geologists are, were already updating the geology model as we speak. Fantastic. One question now. You have a very large number of shares outstanding. Are you thinking of a reverse split one day? It's gonna be in discussion for sure. You saw, you saw the capital structure, it's leading to a 10 to 1%, but we're gonna announce that when we're ready like. The officers and directors, we own the company 37%. So it's gonna be, you know, and the AGM after shareholders don't vote. So if we vote. It's gonna go through. And you know we wanna make sure that we're in commercial production the market sees that. There's no shorting possible, you know, that's the other thing we need to watch for on the, on the TSX, so, And we have that that's why we also announce a share buyback first we announced that, 2 or 3 weeks ago. So, Glencore and Nearry allowed us because there's, there's language in the credit agreement. I cannot use, allocate capital to direct to the shareholders, but they're already allocating some amounts to cancel shares. So if someone wants to short it down to 9 cents, we'll cancel them. Great. Thank you very much, Pascal. Thank you.