Mr. Renaud Hinse, President and Chief Executive Officer of Abcourt Mines Inc.
(TSX VENTURE:ABI)(BERLIN:AML)(FRANKFURT:AML) (the "Company") reports to the
Company's shareholders that at the Annual and General Shareholders Meeting held
on December 6, 2013, Mrs. Jean-Guy Courtois, Andre DeGuise, Marc Filion, Yves
Usereau as well as Normand and Renaud Hinse, were re-elected directors of the
Company for an additional term of one year and that the new nominee, Mr.
Francois Mestrallet, business man and shareholder of the Company, was elected
for the first time as director. Mr. Hinse also thanked the shareholders for
their strong participation to the Meeting and indicated that the votes on the
election of each proposed director were strongly in favor of their election.
Furthermore, Dallaire & Lapointe Inc., chartered accountants of Rouyn-Noranda,
were re-appointed auditors of the Company for the financial year ending June 30,
2014.


Update on the Elder mine

Currently, a mine development program is taking place. About 45 employees are
working on the mine site. This program involves rehabilitating old drifts,
excavating new drifts and preparing stopes. From May to September, about 17,000
tonnes of mineralized material were extracted from the mine and stockpiled on
the Elder mine site and partly at the Aurbec Sleeping Giant mine site. The
milling of the gold mineralization started on October 2 last and is continuing.


So far, we have received the following results:



                      Tonnes        Gold    Recovery         Ounces produced
Month                treated        oz/t      % gold        Gold      Silver
----------------------------------------------------------------------------
October               12,215        5.15        95.3       1,926     550 +/-
November               7,668        5.29        96.8       1,261     360 +/-
to December 10         2,450        4.49        96.0     340 +/-      97 +/-



The gold bricks are sent to the Royal Canadian Mint for refining and the refined
gold and silver ingots are sold to a major Canadian chartered bank. For the
October production and about 70% of the November production, we have received
close to $3.5 M. The proceeds from the sale of gold and silver will be applied
against the cost of the mine development program. 


The management of the Company expects that the treatment of the gold
mineralization will produce enough revenues to cover most, if not all, future
mine development costs during the mine development stage. If these funds are not
sufficient, the Company will, as in the past, finance itself by the issue of
shares or by debt. With the proceeds from the sale of gold being available now,
the tempo of mine development has been accelerated with the objective of
reaching full capacity in the first half of 2014. Consequently, we have hired
two development crews to rehabilitate the 8th and 9th levels and to extend the
western drift on the 8th level which will give us access to new stoping blocks.


So far, management is quite satisfied with the progress made under difficult
conditions including a very stringent control of costs needed in the absence of
adequate outside financing.


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, but are not limited to, those described under "Risk
Factors" in the Company's amended and restated annual information form dated May
11, 2012 and could cause actual events or results to 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Renaud Hinse, President and CEO
819 768-2857 or 450 446-5511
819 768-5475 or 450 446-3550 (FAX)
rhinse@abcourt.com

Abcourt Mines (TSXV:ABI)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Abcourt Mines Charts.
Abcourt Mines (TSXV:ABI)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Abcourt Mines Charts.