Abcourt Presents Operations Update for January 2026 in the Development of the Sleeping Giant Mine
ROUYN-NORANDA, Quebec, Feb. 18, 2026 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to provide an update on the development work completed in January 2026 at the Sleeping Giant Mine, located in the Eeyou Istchee region of Québec.
In January, Abcourt continued to actively advance the stopes development at the Sleeping Giant Mine while significantly strengthening its operational capacity. During the month, 25 new employees joined the team, supporting the acceleration of underground and mill activities. The Corporation now employs more than 125 people, in addition to numerous contractors. Operations delivered an exceptional performance, marked by record production driven by higher processed tonnage and ore grades exceeding those of all previous months. These results reflect both the team’s growing operational efficiency and the asset’s potential, positioning the Corporation favorably for the continued ramp-up of operations.
As we begin the year, Abcourt wishes to share a list of projects planned for 2026 to support the Corporation’s growth objectives. Below is the list of projects scheduled for 2026.
2026 Projects
- Progressive ramp-up of the first long-hole stopes to support the acceleration of the production profile
- Replacement of certain hoist components in preparation for the development and mining of deeper zones
- Expansion of camp accommodation capacity to support the intensification of operations
- Lifting and technical upgrading of the tailings management facility
- Increased geological drilling at the Sleeping Giant Mine to extend mine life
Loïc Bureau, Chief Operating Officer, commented: “Since stepping into the role of Chief Operating Officer, I had the opportunity to witness firsthand the strong commitment of our teams. The significant addition of personnel in January will support all of our operations in the months ahead and contribute to the acceleration of our production rate.”
Monthly Summary of Key Elements
| August | September | October | November | December | January | Total YTD (2025-2026) |
|
| Diamond drilling (m) | 2,360 | 1,906 | 1,666 | 1,726 | 1,180 | 1,537 | 12,576 |
| Underground rehabilitation (m) | 350 | 543 | 61 | 682 | 160 | 127 | 2,733 |
| Underground development (m) | 9,1 | 53 | 82 | 94 | 114 | 84 | 445 |
| Tonnes milled (tonnes) | 1,072 | 2,439 | 2,563 | 1,346 | 1,743 | 2,759 | 11,922 |
| Mill Head Grade (g/t) |
5.66 | 5.98 | 6.0 | 7.2 | 5.7 | 7.3 | 6.35 |
| Ounces Milled (oz) |
195 | 469 | 497 | 311 | 317 | 644 | 2,433 |
| % Recovered | 100% | 92.8% | 95.6% | 95.8% | 97.2% | 97.2% | 96.1% |
| Ounces Produced (oz) |
195 | 435 | 475 | 298 | 308 | 626 | 2,337 |
| Ounces Poured (oz) |
0 | 26 | 124 | 425 | 288 | 374 | 1,237 |
- The gold inventory in the circuit at the end of the month of January was 1106 ounces.
- The silver ounces in the circuit are not assayed.
- The silver ounces are recovered with the gold at the refinery, delivered to the Mint and sold with the gold to the market.
Summary Description of 2026 Projects
Progressive ramp-up of the first long-hole stopes to support the acceleration of the production profile
During the first months following the start-up of the Sleeping Giant Mine, production was mainly ensured by a room-and-pillar type stope.
Ongoing work, focused on the development and rehabilitation of access drifts and sublevels, will enable the progressive commissioning of multiple long-hole stopes, which is expected to result in a meaningful increase in gold production based on current projections.
Replacement of certain hoist components in preparation for the development and mining of deeper zones
During summer 2026, scheduled shutdown to replace the motors, the hoist speed controller, and the operator cabin. The new motors will increase production capacity, while the upgraded controller will improve operational efficiency and precision, in addition to enabling significant electrical energy savings. Finally, the new operator cabin will enhance comfort and contribute to improved health and safety conditions for operators.
Expansion of camp accommodation capacity to support the intensification of operations
Abcourt completed the construction of a 50-room camp, including kitchen facilities, in a first phase during the fall of 2025. A second phase is planned for spring 2026, with the addition of 36 rooms and the expansion of the kitchen. A third phase is scheduled for summer 2026, which will include 37 additional rooms.
Lifting and technical upgrading of the tailings facility
Geotechnical drilling and the installation of monitoring instruments are planned for the summer and will enable the optimization of long-term tailings facility management while meeting the highest industry standards.
Increased geological drilling at the Sleeping Giant Mine to extend mine life
Launch of Phase 2 of the deep mine exploration and development program aimed at increasing mineral resources.
Qualified Person
Loïc Bureau, Eng, Chief Operating Officer of the Corporation, has verified and approved the technical information contained in this press release.
Mr. Bureau is a Qualified Person under Regulation 43-101.
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.
For more information about Abcourt Mines Inc., please visit our website at www.abcourt.ca and view our filings under Abcourt's profile on www.sedarplus.ca
| Pascal Hamelin | Dany Cenac Robert |
| President and CEO | VP, Communications and Corporate Development |
| T : (819) 768-2857 | T : (514) 722-2276, poste 456 |
| Email: phamelin@abcourt.com | Email : ir@abcourt.com |
FORWARD-LOOKING STATEMENTS
Certain information contained in this news release may constitute "forward-looking information" within the meaning of Canadian securities legislation. Generally, forward-looking information can be identified by using forward-looking terminology, such as "plans", "aims", "expects", "projects", "intends", "anticipates", "estimates", "could", "should", "likely", or variations of such words and phrases or statements specifying that certain acts, events or results "may", "should", "will" or "be achieved" or other similar expressions. Forward-looking statements, including the expectation of the Corporation with respect to the availability, timing and terms of advances under the Debenture; the terms and duration of the proposed offtake arrangements; the anticipated use of proceeds of the Debenture, including the repayment of existing indebtedness; the Corporation’s ability to advance and increase drilling and development activities at the Flordin-Cartwright and Sleeping Giant properties; and the receipt of the final approval of the TSXV, are based on Abcourt's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause Abcourt's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements or information. Forward-looking statements are subject to business and economic uncertainties and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risk factors set forth in Abcourt's public filings, which are available on SEDAR+ at www.sedarplus.ca. There can be no assurance that these statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Although Abcourt believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on such statements. Except as required by applicable securities laws, Abcourt disclaims any intention or obligation to update or revise any such forward-looking statements or information, whether as a result of new information, future events or otherwise.
Neither the 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.
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