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Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF)
(“Abcourt” or the “Mines Abcourt Inc.) announces that a technical report NI 43-101 entitled

Feasibility Study on the Sleeping Giant Project was prepared by PRB Mining Services Inc. of Val-
d’Or, Quebec, Canada.

Here is a summary of this technical report(1):
General and History
The Sleeping Giant mine is located 80 km north of Amos in north-western Quebec, Canada. It is
accessible via road 109 that connects Amos to Matagami. This is a paved road and it passes less
than 1 km from the mine site. Material and services are available at competitive prices.
The mine was exploited from 1988 to 2014. It has been maintained dry since its temporary closing
in 2014 and no infrastructure has been taken out or added. Currently, the Sleeping Giant mill treats
ore from the Elder mine owned by Abcourt Mines Inc. and occasionally, some custom ore. The mill
capacity is 700 to 750 tonnes per day. The activated carbon process is used to recover gold.
Historically, the gold recovery on the Sleeping Giant ore, at that mill is 97.5%.
The tailings pond complies with all governmental regulations and the dykes and the quality of water
are checked every year by an external expert. The tailings pond has enough capacity to receive
the tailings from Elder and those from the Sleeping Giant mine as indicated in section 16 of the
technical report. The setting pond at the discharge of the tailings pond is used to treat the
discharged water according to the rules and to control the quality of the water.
Geology and Mineralization
The Sleeping Giant property is located in the central part of the north volcanic zone affected by
major E-W and NW-SE corridors of deformation. The geological units in the mine area consist of
basalt, andesite and volcano-sedimentary rocks. Mineralization is in disseminated sulfides, in
veinlets or in small massive bands parallel to bedding. The best veins contain four types of
sulfides: pyrite, pyrrhotite, chalcopyrite and sphalerite, which make up from 5 to 60% of the vein
fillings. Beside gold, the veins contain silver and small amounts of copper and zinc.

Note 1: For more information, see Sedar.

Mineral Resources
The mineral resources used in the feasibility study are extracted from a technical report prepared
by Mr. Valère Larouche entitled “Estimation des ressources minérales de la propriété Géant
Dormant”, May 2019. The Sleeping Giant ore body contains 10,900 tonnes of measured resources
grading 12.20 g/t of gold (4,300 ounces of gold) and 475,625 tonnes of indicated resources with a
grade of 11,20 g/t of gold (171,275 ounces of gold) and 93,100 tonnes of inferred resources
grading 11.85 g/t of gold (35,400 ounces of gold). Abcourt Mines inc. has identified some
substantial exploration targets on existing levels of the mine, ignored in the past. The company is
planning an important exploration program and hopes to increase considerably its resources and
Mineral Reserves
The mineral reserves are estimated at 339,221 tonnes grading 7.9 g/t of gold (85,690 ounces).
These mineral reserves are probable.
Mining Method
A mining plan has been prepared to extract 325,000 tonnes of reserves over a 4-year period
including one year of pre-production (25,000 tonnes) followed by the three years with an annual
production of 100,000 tonnes per year. The remaining 14,221 tonnes of reserves, not extracted by
this mining plan, will be extracted later in subsequent operations following additional exploration
and development work. There are good possibilities of extending the production period by doing
additional exploration work on the indicated resources excluded from the mining plan and on the
inferred resources and converting the latter into measured or indicated resources and eventually
into reserves.
The mineralization is typically in narrow veins. The dip varies between 30o and 80o. The mining
methods will be shrinkage and room and pillars. The long-hole method is not favored but will be
used where the other methods are not adequate.
Project Infrastructures
The access to the Sleeping Giant is facilitated by road 109 that passes through the property at less
than 1 km from the mine site. All surface installation necessary for the opening of the mine are

available on the site. The mill and tailings pond are functional. Electricity is provided by Hydro-
Quebec. Mine water is used for the mine and mill. Water from a well is used in lunch rooms, toilets

and showers. Telephone and internet services are provided by Telebec.
The process used in the mill to treat the gold ore is carbon in pulp. The mill capacity is 700 to 750
tonnes per day. This capacity is sufficient to treat the Elder and the Sleeping Giant ores.
Historically, the gold recovery in this mill has been 97,5%.
Environment, Permits, Social Impacts and Closing Plan
Mining leases and certificates of authorization are valid. Studies are done regularly to comply with
exigencies of the provincial and federal environmental laws and regulations. The waste rock is not
acid generating and do not leach heavy metals. The re-start of the Sleeping Giant mine will have a
positive economic impact on the region by creating about 100 jobs and by the local purchase of
material and services.

A closing plan was updated and filed with the ministry of “Energie et Richesses Naturelles du
Québec” in October 2018. The estimated cost of restoration and closing by Abcourt is $3.6M. An
amount of $4M has already been deposited in trust with the ministry of “Energie et Richesses
Naturelles du Québec”. Hence, no additional amount is needed and it is not necessary to include
this amount in the financial analysis.
Capital and Operating Costs
The capital cost for the pre-production of the Sleeping Giant mine is estimated at $4.6M, including
operating costs of $8.5M, royalties for $0.125M, capital expenditures of $3.4M, a working capital of
$1.3M and revenues of $8.7M. The pre-production period is 12 months. During the production
period, the sustaining costs are $2.7M including on going capital expenditures of $4.0M and a
refund of $1.3M in working capital.
Total operating costs during the production period are $52.4M for an average of $174.84 per tonne
treated. Royalty payment of $1.375M are not included in this amount.
Economic analysis
The economic analysis of this report is based on the engineering work done by PRB Mining
Services and on the information provided by Abcourt Mines Inc. The economic analysis is based
on a gold price of $1,200 US/oz and a rate of exchange of $1.25 CAN/US. The mining plan is for
325,000 tonnes of mineral reserves. Before taxes, a cash flow of $48.1M and a net present value
(NPV) at 8% of $39.4M and an internal rate of return (IRR) of 240% are indicated. The pay-back
period before taxes is 0.6 year. The project is more sensitive to revenues than operating and
capital costs.
After taxes, a cash flow of $30M, a net present value at 8% of $24.6M and an IRR of 184% are
indicated. The pay-back period is then 0.7 year. At the current prices of gold of $1.397 US/oz of
gold and a rate of exchange of $1.31 CAN/US, the net revenue would be $144.2M and the net
present value would be $62M.
As all other mining projects, there are technical risks that may affect the economical feasibility of
the project. Risks for the Sleeping Giant mine are considered manageable for the next phases of
the project. These risks are usual to most mining projects and many may be mitigated by adequate
engineering, planning and by a pro-active management.
External risks escape somehow from the control of the project manager and are much more
difficult to attenuate although in certain cases, a reduction of risks may be realised. The external
risks are for example, the political situation in the project region, metal prices, the rate of exchange
of the Canadian dollar in US dollar and governmental legislation. These external risks are generally
applicable to all mining projects. A negative impact of these elements on the hypotheses used in
the economic model would reduce the profitability of the mine and the estimate of mineral
reserves. The potential risks factors are discussed in Art. 25.2 of the technical report.
The Sleeping Giant project has mineral reserves and a positive economic analysis with a realist
price for gold. It is therefore recommended to proceed with the repair of the emergency escape
way, to proceed with a detailed planning and to start production. Abcourt Mines Inc. has identified
additional potential resources. It is recommended to proceed with an update of the resources once
the mine geologist has completed his review of the available informations.

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 (2014). A feasibility study was completed in
2007 by Roche / Genivar. A 43-101 update was completed in January 2019. A total of 8.07 M
tonnes of proven and probable reserves with a grade of 51.79 g/t of silver and 2.83% of zinc are
available to be mined. The portion mineable by open pit is 81.6% and the portion mineable
underground is 18.4%. Inferred resources are 2.07 M tonnes with a grade of 114.16 g/t of silver
and 2.89% zinc.
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 filed in
May 2019. A positive 43-101 feasibility study was completed recently by PRB Mining Services Inc.
The mineral reserves are 10,900 tonnes in the proven category with a grade of 12.20 g/t of gold
and 475,625 tonnes in the probable category with a grade of 11.85 g/t of gold. The inferred
resources are 93,100 tonnes with a grade of 11.85 g/t of gold.
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 Persons” under the terms of Regulation 43-101. Mr. Hinse has
approved the scientific and technical disclosure.

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