Abitibi Metals Corp. provided an update on its maiden 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. Further to its previous releases dated February 8, February 22, and February 29, 2024, the Company is continuing to hit significant semi-massive and massive sulphides in drilling at the B26 Polymet metallic Deposit, including 5% chalcopyrite over 20 metres from 116.5 metres in drillhole 1274-24-335, advanced to test the continuity of a potential satellite zone 500 metres to the west of the main deposit. This follows the release of some of the highest-grade intercepts in the Project's history, including 11.4% CuEq over 10.6 metres beginning at 135 metres depth in Drillhole 1274-24-294 and 6.3% CuEq over 10". To date, twenty-two holes have been completed, totaling 7.6 metres beginning at 135 meters depth in drillhole 1274- 24-294 and 6. 3% CuEq over 10.,6 metres beginning at 120 metres depth in Drillhole 12 74-24-293.

To date, twenty-two holes have been completed, totalling 7,074 metres. Drilling in this first phase is broken down between 3 targets distributed along an overall strike length of 1.6 kilometres testing the first 300 vertical metres: B26 Main Deposit: 17 holes have been completed at this target, totalling 5,271 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.

These new holes outlined come from two section 500 metres apart, concentrated in the first 200 vertical metres. A fanning of 5 holes was drilled at the center of the deposit on section 653000E to evaluate the overall thickness of the chalcopyrite stringer zone close to surface. Hole 1274-24-301 stands out with 45 metres of strong chalcopyrite stringers along the hole.

Individual chalcopyrite stringer veins ranging from 1 to 10 centimetres can be grouped in multiple intervals ranging generally from 10 to 15% chalcopyrite over 10 metres. 500 metres to the west, close to the western limit of the known B26 zone two holes (1274-24-331 and 1274-24-332) both intersected chalcopyrite stringers over core length of 10 to 15 metres and were associated with wide disseminated pyrite-chalcopyrite-sphalerite halos. Satellite West: 5 holes have been completed at this target, totalling 1,803 metres.

The drill fence targeted the geometric continuity of a potential satellite zone 500 metres to the west of the main deposit. Significant disseminated and stringer mineralization were intersected in three holes at different elevations, over a covering approximately about 200 metres. Observations thus far indicate the stacking of a strong VMS mineralized system hosted in a cherty tuff and chalcopyrite stringer zone with disseminated halos in an altered porphyritic rhyolite footwall.

Multiple intervals of massive sulfide bands were observed in drillhole 1274-24-335 with up to 7% sphalerite over 15 metres from 43.2 to 58.5 metres and around 5% chalcopyrite over 20 metres from 116.5 to 136.1 metres. Eastern Extension: Drilling at the Eastern Extension target is ongoing. While challenging overburden conditions have slightly reduced the drilling progress, measures have been taken to adjust the drilling technique in order to reach the bedrock.

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.