Abasca Resources Updates on Loki Graphite Deposit and Announces Private Placement

Abasca Resources Inc. has completed its geohydrological and geotechnical drilling program at the Key Lake South Project. This effort consisted of six sonic and four diamond drillholes, gathering data crucial for designing an open-pit and conducting an Environmental Impact Assessment. The remaining phase of the 2025 summer program will focus on in-fill drilling at the Loki Flake Graphite Deposit. The findings will help upgrade the mineral resource estimate, adding confidence to this critical mineral resource.

Furthermore, the company announced a non-brokered private placement of up to $2.5 million consisting of 15,625,000 flow-through shares at $0.16 per share. The funds will support exploration at the KLS Project. Finder's fees and warrants may also be issued. Securities sold under the Private Placement have a hold period, and Exchange approval is needed for closing.