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Abcourt Mines Inc.

Publié le 06 mai 2015

2015-05-06: Abcourt terminates discussions concerning the acquisition of the processing plant and the Beacon mine and currently negotiates an agreement for the custom milling of the gold mineralizatio

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Mots clés associés :   Canada | Copper | Dollar | Zinc |

2015-05-06: Abcourt terminates discussions concerning the acquisition of the processing plant and the Beacon mine and currently negotiates an agreement for the custom milling of the gold mineralization extracted from the Elder mine

FOR IMMEDIATE RELEASE

TSX Venture - ABI.V

May 6, 2015

Abcourt terminates discussions concerning the acquisition of the processing plant and the Beacon mine and currently negotiates an agreement for the custom milling of the gold mineralization extracted from the Elder mine


Mont-St-Hilaire, Québec, Canada, May 6, 2015

Mr. Renaud Hinse, President and Chief Executive Officer of Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) ("Abcourt"") announces that Abcourt has terminated discussions concerning the acquisition of the processing plant and Beacon mine, located close to the town of Val-d'Or, Quebec. The due diligence verification that we did indicated that several items remained to be cleared and that the time needed to have them cleared and also the time necessary to obtain two surface leases and various regulatory authorisations would have delayed the start of the mill for several months. As our milling contract with QMX Gold Corporation will be terminated at the end of June, with an option for only one (1) additional month, we could not get involved in a process with an undetermined outcome.

We are currently negotiating a six-month custom milling contract, renewable for a long term to treat the gold mineralization from the Elder mine. With this option, we avoid having a debt with a mortgage on our real assets (land, buildings, equipment and vehicles) and accept all the restraints put in place by the lenders.

Mine development at the Elder mine

The mine development of the Elder mine continues. During the 3rd quarter (January - March 2015), the tonnes broken in stopes totaled 18,520 and the tonnes extracted totaled 20,438. At the end of the quarter, we had a total of 13,759 tonnes on surface stockpiles of mineralized material at the mine site and at the QMX mill site.
More details will be given in our next quarterly report.

Abcourt-Barvue project

The Abcourt-Barvue property is an old mine with ore reserves (2007) and resources (2012) in silver and zinc that we operated for five (5) years, from 1985 to 1990.
At the London Metal Exchange, the zinc stocks are decreasing rapidly, the zinc price has a strong upward trend and the rate of exchange of the Canadian dollar is favorable.
We are presently trying to put in place a financial plan to restart this project.

About Abcourt Mines Inc.

Abcourt Mines Inc. is an exploration and development company with strategically located properties in northwestern Quebec, Canada. The Elder Mine with gold resources (2012), the Abcourt-Barvue Project with silver-zinc ore reserves (2007) and resources (2012) and the Aldermac property with historical copper- zinc resources are all former producers. The reported reserves and resources are considered as current mineral reserves and resources. Abcourt is now focused on bringing the Elder and Abcourt-Barvue projects back into production with Elder as the first priority. At the same time, the Company is working on other
projects (Aldermac, Vezza, Jonpol and Vendome) to increase its mineral resources inventory. A resource calculation was completed in July, 2012, for the Elder Mine. A positive PEA report was prepared on Elder mine in the Fall of 2012 by Roche Limited, Consulting Group. A positive feasibility study was completed by GENIVAR in 2007 on the Abcourt-Barvue Project. In addition, a major part of the equipment needed to build the mill was purchased. To know more about Abcourt, please visit our web site at www.abcourt.com and SEDAR.

FORWARD-LOOKING STATEMENTS: Certain of the information contained in this news release may contain "forward- looking information". Forward-looking information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of Abcourt Mines Inc. (the "Company"), or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in the Company's amended and restated annual information form dated May 11, 2012 and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Company does not intend, nor does the Company undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

This press release was prepared by Mr. Renaud Hinse, a qualified person, President of Abcourt Mines Inc. For more information, please contact:

Renaud Hinse, President and CEO T: 819 768-2857 450 446-5511

F: 819 768-5475 450 446-3550

Email : [email protected]

Neither 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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Données et statistiques pour les pays mentionnés : Canada | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

Abcourt Mines Inc.

EN DÉVELOPPEMENT
CODE : ABI.V
ISIN : CA00288E3005
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Abcourt Mines est une société développant des projet miniers d'argent et de zinc basée au Canada.

Abcourt Mines est en développement de projets d'argent, de zinc et d'or au Canada, et détient divers projets d'exploration au Canada.

Son principal projet en développement est ABCOURT-BARVUE au Canada et ses principaux projets en exploration sont ELDER MINE, ALDERMAC, TAGAMI, VEZZA PROPERTY, JONPOL et VENDOME BARVALLEE au Canada.

Abcourt Mines est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 12,5 millions CA$ (9,4 millions US$, 8,4 millions €).

La valeur de son action a atteint son plus bas niveau récent le 28 septembre 2001 à 0,02 CA$, et son plus haut niveau récent le 21 avril 2006 à 1,39 CA$.

Abcourt Mines possède 276 680 000 actions en circulation.

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Dans les médias de Abcourt Mines Inc.
19/04/2006Addicted to Abcourt
Rapports annuels de Abcourt Mines Inc.
Annual Report 2006
Financements de Abcourt Mines Inc.
18/10/2013Announces Closing of a $359,000 Private Placement
22/08/2013Announces the Closing of a Non-Brokered Private Placement fo...
02/10/2012Closes of a Non-Brokered Private Placement of $563,000
19/04/2011Announces Filing of Final Prospectus for New Issue of Units
29/03/2011Files Preliminary Short Form Prospectus For New Issue of Uni...
01/08/2007$3.02 Million Private Placements
25/07/2007private placements
Attributions d'options de Abcourt Mines Inc.
26/09/2012Engages Investor Relations Firm
Nominations de Abcourt Mines Inc.
27/08/2007Appointment of Mr. Charles Belanger as V-P, Mines
Projets de Abcourt Mines Inc.
01/06/20162016-06-01: Update to the acquisition agreement of the sleep...
08/06/20152015-06-08: Abcourt announces that a letter of intention has...
06/05/20152015-05-06: Abcourt terminates discussions concerning the ac...
06/05/20152015-05-06: Abcourt terminates discussions concerning the ac...
06/05/20152015-05-06: Abcourt terminates discussions concerning the ac...
06/05/20152015-05-06: Abcourt terminates discussions concerning the ac...
06/05/20152015-05-06: Abcourt terminates discussions concerning the ac...
06/05/20152015-05-06: Abcourt terminates discussions concerning the ac...
06/05/20152015-05-06: Abcourt terminates discussions concerning the ac...
06/05/20152015-05-06: Abcourt terminates discussions concerning the ac...
06/05/20152015-05-06: Abcourt terminates discussions concerning the ac...
06/05/20152015-05-06: Abcourt terminates discussions concerning the ac...
06/05/20152015-05-06: Abcourt terminates discussions concerning the ac...
06/05/20152015-05-06: Abcourt terminates discussions concerning the ac...
06/05/20152015-05-06: Abcourt terminates discussions concerning the ac...
06/05/20152015-05-06: Abcourt terminates discussions concerning the ac...
06/05/20152015-05-06: Abcourt terminates discussions concerning the ac...
06/05/20152015-05-06: Abcourt terminates discussions concerning the ac...
06/05/20152015-05-06: Abcourt terminates discussions concerning the ac...
25/03/20152015-03-25: Abcourt signs an Indicative Term Sheet aimed at ...
24/09/2013(Abcourt-barvue)Purchases 23 Claims in Barraute Township, in Abitibi, to Enl...
29/01/2013(Elder Mine)Update on the Rehabilitation Work Currently Being Done at th...
05/07/2011(Tagami)Four Holes Drilled by Abcourt on Tagami Property Intersected...
26/05/2011(Abcourt-barvue)Hole AB11-24 Drilled at Abcourt-Barvue Intersected 4.9 Meter...
12/05/2011(Elder Mine)The Dewatering of The Elder Mine Was Started at the Beginnin...
28/02/2011(Vendome Barvallee)Purchases an Interest in the Vendome Base Metal and Gold Pro...
15/02/2011(Abcourt-barvue)Drilling at Abcourt-Barvue Continues to Intersect Two Bands ...
26/01/2007Option on the Aldermac property approved
Communiqués de Presse de Abcourt Mines Inc.
07/07/20162016-07-06: Abcourt Announces the Grant of Stock Options and...
20/06/20162016-06-20: CLOSING TO THE ACQUISITION OF THE SLEEPING GIANT...
13/05/20162016-05-13: Exercise of Warrants
05/01/20162016-01-05: Abcourt Announces the Closing of a Non Brokered ...
15/07/20152015-07-15: Abcourt signs a formal custom milling agreement ...
10/02/2015A 1,500-Meter Surface Diamond Drilling Program Starts Immedi...
06/01/20152015-01-05: Abcourt Announces Final Closings of Non Brokered...
01/01/20152014-12-30: Abcourt announces a first closing of a non-broke...
16/12/20142014-12-16: Annual meeting of shareholders held on December ...
16/12/2014Incumbent Abcourt Directors All Re-Elected at Annual Meeting...
17/11/2014Abcourt Signs a Six-Month Milling Contract With QMX Gold Cor...
04/11/20142014-10-28: Modification to the stock plan, grant of options...
28/10/2014Modification to the Stock Option Plan, Grant of Options to a...
25/08/2014Abcourt Mines Inc.: Substantial Progress Made in Mine Develo...
14/07/2014Abcourt Announces Closing of a Non-Brokered Private Placemen...
09/06/2014Abcourt Mines Inc.: Update on Elder Gold Mine
11/04/2014Abcourt Mines Inc.: Update on Elder Gold Mine
10/09/2013(Elder Mine)Additional High Grade Gold Intersections at Elder Mine Near ...
16/08/2013Signs a Custom Milling Agreement With Aurbec Mines Inc., a W...
30/07/2013Elder Gold Mine Continues to Surprise Us With Some High Grad...
30/07/2013Elder Gold Mine Continues to Surprise Us With Some High Grad...
15/07/2013Restoration Plan for Elder Gold Mine Approved and New Resour...
08/07/2013Update on Elder Gold Mine Development
21/05/2013Mine Development at Elder Gold Mine is Progressing Well
18/04/2013Receives the Certificate of Authorization to Proceed With th...
12/12/2012Annual and Special Meeting of Shareholders Held on December ...
05/11/2012The Preliminary Economic Assesment (P.E.A.) Report of Elder ...
24/10/2012P.E.A. on Elder
10/09/2012Update on Elder
13/06/2011(Abcourt-barvue)Hole AB11-31 Drilled at Abcourt-Barvue Intersected 4.5 Meter...
08/06/2011Amendment to the Stock Option Plan and Grant of Stock Option...
21/02/2008PLACEMENT PRIVÉ DE 439 250 $ COMPLÉTÉ
23/04/2007Allied sets Oct for gold mine start
29/03/2007Option on Jonpol and Paramount
08/12/2005(Vendome Barvallee)Mise à jour de l'étude de faisabilité sur le projet Abcourt ...
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