Abitibi Metals Corp. to unveil its 2024 exploration strategy for the high-grade B26 Polymetallic Copper Deposit ("B26" or the "Project"). Located within the prolific Abitibi Greenstone Belt, B26 represents a substantial opportunity to develop a copper, zinc, gold, and silver Polymetallic Deposit in a region with a rich history of base and precious metal production, which includes the Detour and Casa Berardi Mines.

On November 16, 2023 the Company announced that it had signed a Definitive Agreement to acquire up to 80% of the B26 Deposit ("B26" or the "Project") from SOQUEM Inc. ("SOQUEM"), a subsidiary of Investissement Québec, and an entity at arms' length to the Company. Abitibi is the first public company with the option to earn into the B26 Deposit. With a strike length of 1 km and depth extent of 0.8 km, both of which are open to expansion, Abitibi will focus on delivering shareholder value with a 3-phased approach, which includes a minimum targeted 10,000 metres of drilling that will focus on both growing the resource and testing the expansion potential.

Abitibi Metals will launch a fully financed 2,750-metre drilling program in January 2024. The initial focus will be to delineate the open-pit potential of the B26 Deposit while concurrently advancing and expanding the existing underground resource. The Company will advance B26 through a first-year exploration plan focused on 3 milestones: 10,000+ Metres of Drilling: The Company anticipates commencing drilling upon permit approval, targeting the completion of at least 10,000 metres in the first year.

This phase will concentrate on high-priority infill drilling in areas with higher metal factors within the resource, roughly from surface down to 300 metres and exploring mineralized lenses continuity and geometry, and expansion possibilities. The Company is confident that the Project will warrant much larger annual drill budgets for expanding the resource and developing new targets. The Company will be ready to scale up drilling once valuation and financing goals are met.

Abitibi Metals will launch a fully financed 2,750-metre drilling program in January 2024. The initial focus will be to delineate the open-pit potential of the B26 deposit while concurrently advancing and expanding the existing underground resource. Updated Internal Resource & 3D Model: Through the review of the 2018 resource, we have identified opportunities for improvement, which will strengthen our drill plan and a potential increase of current tonnage without further drilling.

These areas include: Geological Modeling: Better define high-grade lenses to generate strong resource growth-focused drilling Density Factor: Review and analyze additional samples to determine the correct density factor to include in the updated internal resource /3D model. The Company believes the density factor could be currently understated, which could result in the correct factor contributing additional tonnage above the 2018 resource numbers. Gold & Silver Grades: Review and analyze metal grade variability for resource estimation update.

Resource Estimation (open-pit and underground): To complete a robust 3D and internal resource model which will provide a strong basis for evaluating economic potential. Gravity Survey: The Company is planning a Gravity Survey grid to cover extensions of the VMS contact to help model the geology, primarily the mafic-felsic contacts and sulphide-rich environment, in order to target new mineralized extensions close to the surface and at a moderate depth (300-600 metres). This is aligned with first-year objective of improving understanding and model of the open-pit potential of the Project.

Expansion Potential: The B26 Deposit has a continuous strike length of 1 km with additional mineralization drilled up to a strike length of 1.6 km and to a depth of 0.8 km. The deposit shows expansion potential laterally within the down dip inside the felsic unit hosting the deposit as highlighted in geoscientific works produced by SOQUEM and research partners; UQAC (University of Québec at Chicoutimi) and GSC (Geological Survey of Canada). Given the nature of the VMS systems typically observed in the Abitibi, which are both deep-seated and occur in clusters and the proximal location of Selbaie, the Company, therefore, believes that the growth potential is significant and will provide further details in upcoming releases to highlight its exploration plan and the expansion opportunities laterally and at depth.