Abcourt Mines Inc.
TSX VENTURE : ABI
BERLIN : ABI
FRANKFURT : ABI

Abcourt Mines Inc.

June 16, 2011 16:28 ET

Abcourt Enlarges its Abcourt-Barvue Property

MONT-ST-HILAIRE, QUÉBEC, CANADA--(Marketwire - June 16, 2011) -Mr. Renaud Hinse, President and C.E.O. of Abcourt Mines Inc. (TSX VENTURE:ABI)(BERLIN:ABI)(FRANKFURT:ABI) (the "Company"), is pleased to announce that Abcourt has signed a purchase agreement with Galahad Metals Inc for the acquisition of 104 claims, located in the Landrienne and Barraute Townships, representing 4,378 hectares, to enlarge its Abcourt-Barvue property.

These claims cover the extensions of the Abcourt-Barvue structure to the east and to the west over a distance of 16 km. Galahad did airborne and ground geophysical surveys but drilled only one hole. In the past, very little exploration was done on these claims, but a few interesting diamond drill intersections, like 52.92 g/t Ag over 4.57 m, 32.08 g/t Ag and 4.08 g/t Au over 1.22 m and 1.05% Zn over 8.38 m, have been reported.

The decision to acquire these claims was triggered by the good drilling results on the Abcourt-Barvue property that have been reported lately. This acquisition gives Abcourt a control over the Abcourt-Barvue structure. The ore-making potential of this structure at the eastern and western ends of the mine area remains to be tested, but it could be substantial.

The acquisition cost is $25,000 cash and 500,000 class B shares of Abcourt. The shares are subject to a hold period of four months and one day.

This agreement is subject to the approval of the TSX-Venture Exchange.

A map is available at the following link: http://media3.marketwire.com/docs/abcourtmapeng.pdf

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 www.abcourt.com.

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)
    rhinse@abcourt.com