Abitibi Metals Resumes Phase 3 Drill Program (17,500m) and Enhances Operational Efficiency

Abitibi Metals Resumes Phase 3 Drill Program (17,500m) and Enhances Operational Efficiency

Highlights:

• Phase 3 Drilling update: Drilling has commenced with two drills, and the directional crew has arrived at the camp. This program is expansional focused, following up on high-grade intercepts on the boundary of the deposit which include:
  • 1274-13-117: 2.92% CuEq (2.36% Cu, 0.56 g/t Au & 6.47 g/t Ag) over 68 metres
  • 1274-17-260: 2.63% CuEq (1.75% Cu, 1.34 g/t Au & 3.17 g/t Ag) over 12 metres
  • 1274-17-269: 2.99% CuEq (1.78% Cu, 0.92 g/t Au & 1.87 g/t Ag) over 10 metres
• Phase 3 Budget: The program is budgeted at an all-in cost of $250 per metre, with 11,660 metres already fully designed and 5,900 metres allocated for follow-up based on results.
• Other strategic initiatives: aimed at enhancing near real time decision-making to support an optimized and data-driven exploration process.

LONDON, ON, June 26, 2025 /CNW/ - Abitibi Metals Corp. (CSE: AMQ) (OTCQB: AMQFF) (FSE: FW0) ("Abitibi" or the "Company") is pleased to announce that drilling has officially restarted as part of its fully funded Phase 3 drill program at the B26 Polymetallic Deposit, located in the Abitibi Greenstone Belt, Québec. Following the successful completion of 2,522 metres prior to the spring break, two drill rigs are currently active on-site, and a third scheduled to mobilize in the coming weeks. The Company currently owns 50% of the B26 Deposit and retains the option to earn an additional 30% from SOQUEM Inc. ("SOQUEM"), a subsidiary of Investissement Québec (see news release dated November 16, 2023).

The Phase 3 program represents the Company's most ambitious and technically advanced drill campaign to date, with up to 17,500 metres planned. The primary objective is resource expansion, with secondary goals including infill drilling and resource conversion. The drill program will focus on high-priority extension targets within copper-gold (Cu-Au) and zinc-silver (Zn-Ag) rich zones, further refined and outlined in recent press release (see Press Release June 18^th, 2025: Abitibi Metals Announces Phase 3 Drill Strategy and Growth Model Potential). These zones are central to the company's broader Phase 3 strategy and represent significant opportunities for resource expansion and potential long-term value creation as exploration progresses (see Figure 1: Phase 3 Drill Program - Expansional Targets).

"With drills now turning, we've entered an exciting new phase at the B26 Project," said Jonathon Deluce, CEO of Abitibi Metals. "This program is strategically focused on testing near-resource extensions and deeper targets, including the newly defined gravity anomalies that could signal a much larger system at depth. Beyond drilling, we've also restructured our operational approach behind the scenes to enable smarter capital allocation—maximizing the project's organic growth potential and positioning us to deliver stronger and long-term returns for our shareholders. Upon completion of this program, the Company will remain in a strong position heading into year-end, with over 20,000 metres of drilling fully funded for 2026."

In addition to the restart of drilling activities, Abitibi Metals has launched a broad range of strategic initiatives aimed at enhancing decision-making and improving capital allocation efficiency. All efforts are aligned under a common goal: to support an optimized and data-driven exploration and development process. This approach will enable the company to more efficiently—and in near real time—evaluate the success of Phase 3 exploration results and allow for timely strategic adjustments to optimized capital allocation. Key initiatives currently underway include:

• Transition to In-House Operations: The company is moving from a third-party contractor team to an internal operations team. This shift is expected to generate potential cost savings on a dollar-per-metre basis while improving operational continuity and data integration. These benefits are particularly important as the Company continues to refine the B26 geological model and initiates work toward a Preliminary Economic Assessment (PEA).
• Internal Economic Evaluation and Resource Update: An internal assessment of the project's economic potential is underway, including the incorporation of approximately 16,500 metres of Phase II drilling into an updated B26 internal resource model. This update will serve as a critical input to upcoming economic studies.
• Building on Phase III initial Drilling Success by targeting High-Prospectivity Zones in the Block Model: The strategic focus is further reinforced by strong early results from the Phase III drill campaign. Highlights include a standout intercept of 4.8% CuEq over 4.1 metres within a broader interval of 1.0% CuEq over 63.2 metres at the B26 deposit (see Press Release June 24^th, 2025: Abitibi Metals Expands Mid-Level High-Grade Copper Zones at B26: 4.8% CuEq Over 4.1m within 63.2m at 1% CuEq). The company believes there is strong potential in several underexplored areas within the current block model, where limited drilling has led to a statistical downgrade of resource grade due to insufficient data. These zones are now being evaluated as highly prospective targets, and increasing drill density in these areas is expected to significantly enhance the overall confidence in the resource quality and grade.
• Advancing Geophysical Interpretation for Enhanced Targeting: A comprehensive geophysical interpretation process is now underway to refine both regional and deposit-scale drill targeting. At the regional level, following the completion of a high-definition VTEM survey and anomaly picking conducted by Geotech, the company is now integrating multiple datasets—including newly identified gravity anomalies, magnetic interpretations, and updated geological models based on the reinterpretation of historical regional drilling. At the B26 Deposit itself, a substantial amount of downhole electromagnetic (EM) survey data is being consolidated into a unified database. This data is undergoing detailed reinterpretation by a specialized geophysicist, who is analyzing both successful and unsuccessful anomalies to better define the conductivity signature associated with B26-style mineralization. This work aims to pinpoint the potential center of gravity of the mineralized system and to identify a new generation of high-priority drill targets with increased precision and confidence.

Qualified Person

The scientific and technical content of this news release has been reviewed and approved by Mr. Laurent Eustache, GEO, Executive VP of Abitibi Metals, who is a "qualified person" within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Abitibi Metals Corp:

Abitibi Metals Corp. (CSE: AMQ) is a Quebec-focused mineral acquisition and exploration company focused on the development of quality base and precious metal properties that are drill-ready with high-upside and expansion potential. Abitibi's portfolio of strategic properties provides target-rich diversification and includes the option to earn 80% of the high-grade B26 Polymetallic Deposit, which hosts a resource estimate of 11.3MT @ 2.13% Cu Eq (Ind- 1.23% Cu, 1.27% Zn, 0.46 g/t Au and 31.9 g/t Ag) & 7.2MT @ 2.21% Cu Eq (Inf - 1.56% Cu, 0.17% Zn, 0.87 g/t Au and 7.4 g/t Ag), and the Beschefer Gold Project, where historical drilling has identified 4 historical intercepts with a metal factor of over 100 g/t gold highlighted by 55.63 g/t gold over 5.57 metres (BE13-038) and 13.07 g/t gold over 8.75 metres (BE12-014) amongst four modeled zones.

About SOQUEM:

SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. Proud partner and ambassador for the development of Quebec's mineral wealth, SOQUEM relies on innovation, research and strategic minerals to be well-positioned for the future. 

ON BEHALF OF THE BOARD

Jonathon Deluce, Chief Executive Officer

The Company also maintains an active presence on various social media platforms to keep stakeholders and the general public informed and encourages shareholders and interested parties to follow and engage with the Company through the following channels to stay updated with the latest news, industry insights, and corporate announcements:

Twitter: https://twitter.com/AbitibiMetals 

LinkedIn: https://www.linkedin.com/company/abitibi-metals-corp-amq-c/ 

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statement:

This news release contains certain statements, which may constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information involves statements that are not based on historical information but rather relate to future operations, strategies, financial results or other developments on the B26 Project or otherwise. Forward-looking information is necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control and many of which, regarding future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward-looking statements made by or on the Company's behalf. Although Abitibi has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. All factors should be considered carefully, and readers should not place undue reliance on Abitibi's forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects," "estimates," "anticipates," or variations of such words and phrases (including negative and grammatical variations) or statements that certain actions, events or results "may," "could," "might" or "occur. Mineral exploration and development are highly speculative and are characterized by a number of significant inherent risks, which may result in the inability of the Company to successfully develop current or proposed projects for commercial, technical, political, regulatory or financial reasons, or if successfully developed, may not remain economically viable for their mine life owing to any of the foregoing reasons, among others. There is no assurance that the Company will be successful in achieving commercial mineral production and the likelihood of success must be considered in light of the stage of operations.

SOURCE Abitibi Metals Corp.