(read the original article on the abcourt website at abcourt.com
December 22nd, 2021
Shareholders have approved the two resolutions on the agenda of the meeting, being the appointment of the chartered professional accountants firm Raymond Chabot Grant Thornton, as auditors of the Corporation, and the election of the directors proposed in the management proxy circular: Daniel Adam, René Branchaud, Christian Dupont, Normand Hinse, Renaud Hinse, François Mestrallet and Nicole Veilleux.
Christian Dupont is a new director, replacing Jean-Guy Courtois, who has been a director of Abcourt for many years. Mr. Dupont, a mining engineer, has been in mining industry since the early 1970's. Previously he held positions as senior mining engineer for Norand and chief engineer for Exall Resources,as well as project manager for Luzenac inc., a producer of micronized talc products. His past experience includes President and director of Kayorum Gold Mines from 1992 to 1997, director of FIeldex Exploration from 1997 to 1998, Vice President and director of Tom Exploration from 2000 to 2006 and President and Ceo of Explor Resources Inc from 2005 to 2019. He has been President, CEO and a director of Brunswick Resources Inc. from December 2013 to August 2021.
At the Board of directors meeting held after the shareholders meeting, the Board appointed Renaud Hinse as President and Chief Executive Officer of the Corporation, Francois Mestrallet as Chairman of the Board, Christine Lefebvre as Chief Financial Officer, Julie Godard as Corporate Secretary and Jasmine Hinse as Assistant to the corporate secretary.
At he Board meeting, Renaud Hinse Announced his retirement as President and Chief Executive Officer of the Corporation, on March 31 2022. Therefore, the Board has created a recruitment committee to find candidates to replace Mr. Hinse in his role of President and Chief Excutive Officer. The Board will have the ultimate responsibility for appointing the new President and CHief Executive Officer of the Corporation as of March 31, 2022. The members of the recruitment commitee are Nicole Veilleux, René Branchaud and Daniel Adam.
Renaud Hinse, CEO, has declared: ''It's time for me to retire as President and CEO of Abcourt, of which I am the founder. Over the course of several years, despite the pitfalls and sometimes unresponsive markets. I have managed to build a company that currently operates with 150 employees and has several excellent mining properties, including a gold mine currently in production (Elder) with annual sales of $25M to $30M. Additionally, another gold mine in development (Sleeping giant) and will double Abcourt's turnover in the short, and the Abcourt-Barvue project with zinc-silver reserves which is in the process of requesting certificates of authorization. I leave it to my successor to bring these projects to a successful conclusion and to do what is necessary for Abcourt Mines to become a large company according to the criteria of the Toronto Stock Exchange. ''
François Mestrallet, President of the Board, has declared '' Renaud is the founder of Abcourt and he devoted all his time and energy to bring it to the stage of a mining company in production, despite difficulties. We sincerely thank him for all his efforts.'' Mr Hinse will remain a director of Abcourt and he will continue to the Corporation for as long as necessary to ensure a smooth and efficient transition.
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is a gold producer and a Canadian exploration company with strategically located properties in northwestern Quebec, Canada. The Elder property has gold resources (2018). Abcourt is currently focusing on the exploitation of the Elder mine and on the development of the Sleeping Giant 3 In 2016, Abcourt acquired the Sleeping Giant mine and mill, located half-way between Amos and Matagami, in Abitibi, Quebec, in the territory covered by the Plan Nord of the Quebec government. The mill has a capacity of 700 to 750 tonnes per day. An evaluation of the mineral resources, according NI 43101 was prepared by Mr. Valére Larouche, consulting engineer in geology. It was filed on Sedar on May 13, 2019. Measured mineral resources total 10,900 tonnes with a grade of 12.20 g/t of gold and indicated resources total 475,625 tonnes with a grade of 1 1.20 g/t of gold. Inferred resources are 93, 100 tonnes with a grade of 1 1.85 g/t of gold. A NI 43-101 feasibility study was completed in July 2019 by PRB Mining Services Inc. Probable reserves according to MI 43-101 have been estimated at 339, 221 tonnes with a grade of 7.9 g/t of gold. For the long term at the Sleeping Giant mine, some important targets of gold mineralization will be drilled as soon as possible.
A resource estimate for the Abcourt-Barvue property was prepared according to NI 43-101 by Jean-Pierre Bérubé, engineer in geology in 2014. This estimate indicated of 8,083,000 tonnes of measured and indicated resources with a grade of 55.45 g/t of silver and 3.06 % of zinc. A feasibility study was done in 2007, according to NI 43-101 by Roche/ Genivar. And an update was done according to NI 43-101 by PRB Mining Services Inc. in 2018. Proven and indicated resources total 8,074,162 tonnes with a grade of 51.79 g/t of silver and 2.83% zinc, including 6,589,361 (81 tonnes mineable by open pit and 1,454,801 (18,4%) tonnes mineable underground.
This press release was prepared by Mr. Renaud Hinse, Engineer and President of Abcourt Mines Inc. Mr. Hinse is a "Qualified Person" under the terms of Regulation 43-101. Mr. Hinse has
approved the content of the disclosure in this press release.
To know more about Abcourt Mines Inc. (TSXV : ABI), please visit our web site at www.abcourt.com and consult our filings under Abcourt's profile on www.sedar.com
For more information, please contact:
Renaud Hinse, President and CEO Dany Cenac Robert, Investor Relations T : 819 768-2857 450 446-5511 Reseau ProMarket Inc., F : 819 768-5475 450 446-3550 T: (514) 722-2276 Email: rhinse@abcourt.com Dany.Cenac-Robert@ReseauProMarket.com
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
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