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

Abcourt Mines Inc.

May 12, 2011 10:05 ET

Abcourt Mines Inc.: The Dewatering of The Elder Mine Was Started at the Beginning of May

MONT-ST-HILAIRE, QUEBEC--(Marketwire - May 12, 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 report that the dewatering of the Elder mine was started at the beginning of May. The water level is now at a depth of 100 meters. The mine is serviced by fourteen levels and a shaft 793 meters deep. Our estimate for the amount of water to pump is about 180 million gallons Imperial. The dewatering operation will take between six and ten months. The opening of the mine will enable us to realize the underground exploration program recommended by Mr Jean-Pierre Bérubé, P. Eng., in his report dated July 7, 2009 and to have access to the mineralized zones to evaluate them for an eventual exploitation.

From 1944 to 1964, the Elder mine produced 350,000 ounces of gold.

In July 2009, a revision of the resources for the Elder property was completed by an independent qualified person, Mr Jean-Pierre Bérubé, P. Eng., consultant from Trois-Rivières, Québec. This revision was made according to NI-43-101 standards.

Below is a summary of the non-diluted resources:

Cut-off grade3.8grams/tonne5.1grams/tonne
DescriptionTonnesAu gr/tOuncesTonnesAu gr/tOunces
Measured402,2866.583 635256,3797.763,736
Indicated402,7426.685 502287,2967.771,422
Maesured & indicated805,0286.5169 137543,6757.7135,158
Inferred237,2896.146 722159,7047.237,067

"It's our goal to build significantly on the 2009 NI-43-101 resource estimate for the Elder Property and we're very confident that we're going to succeed with the surface drilling program which is continuing and the underground exploration program which will follow after the dewatering of the mine", stated Renaud Hinse, President and CEO.


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 / 819 768-5475
    450 446-5511 / 450 446-3550 (FAX)
    rhinse@abcourt.com