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

Abcourt Mines Inc.

November 17, 2014 12:20 ET

Abcourt Signs a Six-Month Milling Contract With QMX Gold Corporation

MONT-ST-HILAIRE, QUÉBEC--(Marketwired - Nov. 17, 2014) - Mr. Renaud Hinse, President and Chief Executive Officer of Abcourt Mines Inc. (TSX VENTURE:ABI)(BERLIN:AML)(FRANKFURT:AML) (the "Company") is pleased to announce that the Company has signed a milling contract for the treatment of 50,000 tonnes of gold mineralization produced by the development of the Elder mine over a six-month period starting on October 29, 2014. The milling has started and a batch of 5,000 tonnes has already been processed. The availability of the mill will increase gradually, and we will be able to increase the tempo of the mine development at the Elder mine to accommodate the available capacity of the mill.

The QMX mill is closer from the Elder mine than the Aurbec Mines' mill used previously and this will enable the Company to save about $7.00 per tonne on transportation costs.

Our near term objective is to purchase one of the three mills in the area that are available or will become available soon. This contract gives us six months to negotiate this purchase.

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, Vezza, Jonpol and Vendome) to increase its mineral resources inventory. A 43-101 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 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 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 actual events or results that may 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 CEO
    819 768-2857 or 450 446-5511
    819 768-5475 or 450 446-3550
    rhinse@abcourt.com