Abcourt Mines Inc.

Abcourt Mines Inc.

October 28, 2014 14:31 ET

Modification to the Stock Option Plan, Grant of Options to a Director and Appointment of a New Chief Financial Officer

MONT-ST-HILAIRE, QUÉBEC--(Marketwired - Oct. 28, 2014) -

Abcourt Mines Inc. (the "Company") (TSX VENTURE:ABI) announces that its Board of directors has approved a modification to the stock option plan of the Company (the "Plan") in order to modify the minimum exercise price of an option from $0.10 per share to "the minimum price allowed by the Exchange". Furthermore, the Board of directors has granted stock options on 200,000 common shares to a director, at an exercise price of $ 0.07 per share, valid for a five-year period, pursuant to the terms of the Plan. These options were granted to replace stock options that expired on October 1, 2014 without being exercised.

The Company also announces that following the resignation of Mr. Yves Usereau as director and Chief Finance Officer as of October 3, 2014, Mr. Marc Filion, director of the Company since March 2007, was nominated as Chief Finance Officer of the Company.

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 and SEDAR.

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 (FAX)