Abcourt Mines Inc.

Abcourt Mines Inc.

December 13, 2011 10:07 ET

Abcourt Announces the Nomination of Two New Directors

MONT-ST-HILAIRE, QUÉBEC, CANADA--(Marketwire - Dec. 13, 2011) - Mr. Renaud Hinse, President and C.E.O. of Abcourt Mines Inc. (TSX VENTURE:ABI)(FRANKFURT:ABI)(BERLIN:ABI)(the "Company"), announces that following the resignation as directors of Mrs Judith L. Hinse and Judith Baker, the Board has appointed Dr. C. Jens Zinke and Mr Glen Mullan, as directors.

Mr. Mullan obtained a Bachelor of Science degree in geology from Concordia University in Montreal, in 1992. He is a member of the Order of Geologists of Quebec. From 1998 to 2009, Mr. Mullan served as Chairman of the Board and as Interim President of Canadian Royalties Inc and he was instrumental in the development of a major copper-nickel project in Northern Quebec. Mr. Mullan is also an officer of a few junior exploration companies.

Dr. C. Jens Zinke graduated as a Mining Engineer specializing in geophysics. He obtained a Ph.D. in Geophysics from the University of Frankfurt, Germany and completed post doctorate work with Stanford University in California, U.S.A. Dr. Zinke is currently employed as the Vice President Business Development and Concentrate Marketing of Canadian Royalties Inc., a company that is developing a copper-nickel project in Québec, Canada. Canadian Royalties Inc. is now majority owned by Jilin Jien of China but was previously a public company that traded on the Toronto Stock Exchange. In addition to his current role, during his tenure with Canadian Royalties, Dr. Zinke held various senior management positions including Vice President Business Development and Interim Chief Financial Officer. Dr. Zinke has also been, since June 2003, a director of Golden Valley Mines Ltd.

The technical and financial experience earned by these two persons in the development of a major project should help Abcourt in realizing its objective which is to bring the Elder gold mine and the silver-zinc Abcourt-Barvue-Vendome project in production as soon as possible.

On December 9, 2011, Messrs. Mullan and Zinke were each granted an option to purchase 300,000 shares of Abcourt at $0.10 per share, over a period of five (5) years.

At its annual and special meeting held on December 9, 2011, Abcourt' shareholders have reconfirmed the Shareholder Rights Plan of the Corporation, as initialy adopted on November 2008, for an additional three years.

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 43-101 gold resources, the Abcourt-Barvue Project with 43-101 silver-zinc ore reserves and resources and the Aldermac property with historical copper-zinc resources are all former producers. 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, Jonpol and Vendome) to increase its mineral resources inventory. A 43-101 resource calculation was completed in July, 2009, for the Elder Mine. A positive 43-101 feasibility study was completed by GENIVAR in 2007 on the Abcourt-Barvue Project. In addition, mill equipment was purchased. To know more about Abcourt, please visit our web site at 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 November 26, 2010 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.

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.

Contact Information

  • Renaud Hinse, President and Chief Executive Officer
    819 768-2857 / 450 446-5511
    819 768-5475 / 450 446-3550 (FAX)