Abitibi Metals Corp. provided an update on its drill program currently underway at the B26 Polymetallic Deposit. The Company is currently completing its winter drill program at the Deposit, where a minimum of 10,000 metres is targeted by the end of March under the first phase of a fully funded 30,000-metre 2024 field season.

On November 16th, 2023, the Company entered into an option agreement on the B26 Deposit to earn 80% over 7 years from SOQUEM Inc. To date, fourteen holes have been completed, totaling 4,275 metres. Drilling in this first phase is broken down between 3 targets along strike testing the first 300 vertical metres: B26 Main Deposit 11 holes have been completed at this target, totalling 3,159 metres. The key objective of drilling within the B26 Main Deposit is to evaluate the open pit potential and potential up-dip near-surface extensions of the main deposit to the north.

This testing is distributed over a 1.2-kilometre strike length and concentrated in the first 200 metres vertical. Satellite West: 3 holes have been completed at this targets, totaling 1,116 metres. Targeting the geometric continuity of a potential satellite zone 500 metres to the west of the main deposit.

Eastern Extension: Drilling at the Eastern Extension target will commence at the end of February, subject to ground conditions. Targeting the expansion of the main deposit to the east where 2.45% Cu Eq over 26.7 metres, including 4.74% CuEq over 11.7 metres (1274-14-167) was intercepted in historical drilling. Drill Hole Highlights: For a description of holes 1274-24-293 to 1274-24-297, the company's news release dated February 8, 2024.

Hole 1274-24-298 was drilled with two main goals in mind. Additionally, it aimed to investigate the possibility of a secondary parallel structure downhole. A gossanous oxidation with minor copper oxide was intercepted starting at bedrock down to 50 metres along hole.

Disseminated chalcopyrite was observed sporadically down to 137 metres; Hole 1274-24-299 was designed to test the up-dip extension closer to surface of the copper bearing structure intercepted in historical hole 1274-14-197, which graded 1.22% Cu over 19.5 metres; A succession of sub-concordant chalcopyrite stringers, dissemination halos and chalcopyrite-bearing quartz veins were observed from 30 to 109.5 metres; Hole 1274- 24-300 was designed to validate B26-03M drilled in the nineties as part of the initial discovery. Best results obtained at that time were 3.3% Cu and 2.2 g/t Au over 9.8 metres; as part of a stacking of stringer and disseminated chalcopyrite and pyrite zones over more than 264m. Notably, there is an interval over 8 metres from 251 meters to 259 meters that hosts approximately 20% chalcopyrite mineralization.

Holes Holes 1274-24-293, the Company is currently reviewing the possibility of adding a third drill in order to continue the momentum of these positive developments. The company is currently reviewing the possibility of added a third drill in order to continues the momentum of these positive developments; and the company is eagerly awaiting the assay results from the over-limit tests to finalize and announce the results of these positive developments. To date, 14 holes have been completed, totaling 4,275 metres.

Drill Hole Highlights: To date, fourteen holes have be completed, totaling 4,275 meters. Drilling in this first Phase is broken down between 3 targets across the B26 Main Deposit with the goal of increasing near-surface tonnage over a 1.2- kilometre strike length. The company are currently reviewing the possibility of adding an third drill in order to continue The company is eagerly awaiting the results of these positive developments of these positive developments.