Abitibi Metals Corp. announced results from the 13,500-metre maiden drill program at the B26 Polymetallic Deposit ("B26", the "Project" or the "Deposit") completed under the first phase of a fully funded 30,000-metre 2024 field season. Abitibi Metals is fully funded with $18.0 million to complete the remaining 16,500 metres planned for the 2024 work program, as well as an additional 20,000 metres in 2025, which will be incorporated into a Preliminary Economic Assessment to complete the option.

On November 16th, 2023, the Company entered into an option agreement on the B26 Deposit to earn 80% over 7 years from SOQUEM Inc. (see news release dated November 16, 2023). The B26 Main Deposit has a continuous strike length of 1.0 km, and mineralization has historically been drilled to 0.85km in vertical depth with limited drill coverage. Drillhole 1274-24-339, which intercepted 2.82% CuEq over 44.5 metres, was advanced to test the immediate extension 20 metres east of the high-grade lens identified in #293 and #294.

Copper mineralization concentrated in separate bands varying in thickness from 0.4 to nearly 4 metres, with chalcopyrite volume evaluated between 10% and 60%, was intercepted, forming a 106.5-metre-long interval of mineralization observed from 83 to 189.5 metres. Drillhole 1274-24-340, which intercepted 3.35% CuEq over 20.75 metres, was planned to test the western strike extent of the high-grade lens identified in #293 and #294 at a spacing of 20 metres. However, unexpected drilling deviation resulted in the hole ending up in close range with 1274-24-294.

Drillhole 1274-24-341, which intercepted 3.25% CuEq over 9.90 metres, was drilled with a northeast azimuth and intersected the high-grade lens 25 metres east of the 1274-24-294 section. Drill holes 1274-24-302, 1274-24-303, and 1274-24-304 were drilled 100 metres apart to test the up-dip extension of the copper-gold stringer system close to its known footwall contact. Short low-grade intersections, including 0.59 g/t over 3.2 metres in #304, represent the northern margin of the copper zone, which is about 100 metres northward from the southern contact.

The core logging program is run by Explo-Logik in Val d'Or, Quebec. The drill core was split with half sent to AGAT Laboratories Ltd. and prepared in Val d'Or, Quebec. All samples are processed by fire assays on 50 gr with atomic absorption finish and by "four acids digestion" with ICP-OES finish respectively for gold and base metals.

Samples returning a gold grade above 3 g/t are reprocessed by metallic screening with a cut at 106 µm. Material treated is split and assayed by fire assay with ICP-OES finish to extinction. A separate split is taken to assay separately mineralized intervals with target grades above 0.5% Cu using Na2O2 fusion and ICP-OES or ICP-MS finish. Samples preparation duplicates, varied standards, and blanks are inserted into the sample stream.

In the 2018 resource estimate, SGS recommended the QAQC protocol to explain the replicability for the four metals (Au-Cu-Ag-Zn). The Company has set up for this program a series of assaying protocols with the objective to control QAQC issues from the beginning of the project. As a result, samples are crushed finer with 95% of particles passing 1.7 mm and a large split of 1 kg is pulverized down to 106 µm (150 mesh).

Other measures put in place include the automatic re-assaying of gold results above 3 g/t by metallic screening and the use of sodium peroxide fusion in mineralized intervals interval corresponding to a target grade above 0.5% Cu.