Abcourt Mines Inc.

Abcourt Mines Inc.

October 02, 2009 11:14 ET

Abcourt Mines Inc. Amends the Terms of the Warrants Issued in November 5, 2007

MONT-ST-HILAIRE, QUEBEC, CANADA--(Marketwire - Oct. 2, 2009) - Mr. Renaud Hinse, president and C.E.O. of Abcourt Mines Inc., (TSX VENTURE:ABI)(BERLIN:ABI)(FRANKFURT:ABI) is pleased to announce that its Board of directors has approved the following amendments to the terms of the share purchase warrants originally expiring on Novembre 5, 2009, subject to approval of TSX-Venture Exchange:

- Extension up to November 30, 2009 of the expiry date and amendment to the exercise price at $0.20 instead of $0.50 for the 1,772,116 common share purchase warrants issued in connection with the private placement closed on November 5, 2007.

None of these warrants has been exercised and insiders of Abcourt hold approximately 3,25% of the warrants.

Abcourt Mines Inc. is an exploration and development company with strategically located properties in Northwestern Quebec, Canada. The Abcourt-Barvue project with 43-101 silver-zinc ore reserves and resources and the Elder mine with 43-101 gold resources and the Aldermac property with historical copper-zinc resources are all former producers. Abcourt is now focused on bringing the Abcourt-Barvue and Elder projects back in production and at the same time, it is working on other projects (Aldermac, Jonpol and Vendome), to increase its mineral resources inventory. A positive 43-101 feasibility study was completed in 2007 on the Abcourt-Barvue project. In addition, mill equipment has been purchased. To know more about Abcourt, please consult our web site and Sedar, see "Abcourt Mines Inc". A small location plan and longitudinal projection of the Aldermac mineralized zones are shown on our web site.

The Abcourt shares are trading on the TSX Venture Stock Exchange under the symbol ABI.V and at Frankfurt and Berlin in Germany.

FORWARD-LOOKING STATEMENTS: Except for statements of historical facts, all statements in this news release, including, without limitation, statements regarding forecasts, plans and objectives of Abcourt Mines Inc., are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

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

  • Abcourt Mines Inc.
    Renaud Hinse, president
    819-768-2857 or 450-446-5511
    819-768-5475 or 450-446-3550 (FAX)