~*~Mining and Metals Du Jour~*~

[NYBob]

ABCOURT REPORTS HIS FOURTH QUARTER AND YEAR-END RESULTS
FOR 2019
_________________________________________________________________
Rouyn-Noranda, Québec, Canada, October 30, 2019

Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock
Exchanges: AML-FF)
(“Abcourt” or the “Mines Abcourt inc.) reports his results today for
the fourth quarter and fiscal year
ended on June 30, 2019.
All amounts are in Canadian dollars unless otherwise indicated.

https://abcourt.com/wp-content/uploads/2019/10/PR2019-10-30.pdf


Highlights :

• Fourth quarter revenues of $ 7.3 M from the sale of 4,137 ounces of
gold.
Best tonnage mined
at Elder mine with an average of 11 813 tonnes per month.

• Net loss in the fourth quarter of $ 2.5 M brought about by changes in
accounting procedures
and non-recurrent production interruptions.

• Revenues of $ 24.1 M for 2019 fiscal period.
Net profit of $ 161,561. Adjusted net profit of
$ 3.2 M.

• Update of Abcourt-Barvue feasibility study for silver-zinc project.

• Resources, reserves and feasibility study completed for
Sleeping Giant mine.

• Cash of $ 2.8 M.

• The Company has no long-term debt.
It finances itself with its operating revenues.

Recent developments:

• Drilling programs planned for Elder and Sleeping Giant gold mines and
on-going drilling
program for Abcourt-Barvue silver-zinc project.

• $ 728 000 recently raised by private placement for diamond drilling.

• Work started to reopen the Sleeping Giant mine.

We take advantage of the favorable gold price and the exchange rates of
the Canadian/US dollars to
move forward in our various projects and to increase the value of the
company for the benefit of
shareholders

Bottom Lines:
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.

We wish to use the full capacity of the Sleeping Giant mill by opening
the Sleeping Giant mine, to reduce
the operating cost per tonne treated.

For the long-term, in the gold sector, the Company had a drilling
program, in the Fall of 2019, on the
Abcourt-Barvue silver and zinc project and the Sleeping Giant gold
property 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 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.

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 and feasibility study was
recently completed.

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

https://abcourt.com/wp-content/uploads/2019/10/PR2019-10-30.pdf


http://abcourt.com/


https://abcourt.com/miningproperties/


https://investorshub.advfn.com/Abcourt-Mines-Inc-ABMBF-29448/


Is the next gold rush in Quebec?
3,235 views •Nov 5, 2019
Kitco NEWS
75.9K subscribers

https://www.youtube.com/watch?v=Hx8tt_0UUOs


Quebec is named the fourth best mining jurisdiction in the world
by the Fraser Institute, and miners in the area have just seen
the beginning, this according to Maxime Guilbault, partner at PWC.
“I think we’ve just seen, I won’t say the tip of the iceberg,
but there’s more.

All the mines that have been developed, around those mines,
in Abitibi for example, there’s a lot of potential,”
Guilbault told Kitco News on the sidelines of
the Xplor Mining Convention in Montreal.

http://abcourt.com/

https://abcourt.com/miningproperties/

https://investorshub.advfn.com/Abcourt-Mines-Inc-ABMBF-29448/

God Bless