Abitibi Metals Corp. announced that a third drill rig has been secured for the on-going maiden drill program underway at the B26 Polymetallic Deposit ("B26", the "Project" or the "Deposit"). The third rig is expected to arrive, keeping the Company on track to complete over 10,000 metres across its three priority targets by quarter end under the first phase of a fully funded 30,000-metre 2024 field season.

With the success of the program to-date, the two rigs now turning will remain focused on the B26 Main Deposit and Satellite West Target, and the third rig will be brought onsite to advance drilling at the Company's priority target, the "Eastern Extension", where it is targeting an expansion of the main deposit where 2.32% Cu Eq over 89.5 metres*, including 3.98% CuEq over 22.5 metres (1274-13-117) was intercepted in historical drilling. After completing the priority targets at the Eastern Extension, the Company will then commence a 2,500-metre drill program at the Beschefer Gold Project, with historical intersections such as 55.63 g/t gold over 5.57 metres and 13.07 g/t gold over 8.75 metres. To date, the Company has focused drilling on the "B26 Main Deposit" and "Satellite West Target", where 29 holes totalling 8,839 metres have been completed as of March 14, 2024.

Select highlights from drilling to date include 6.3% CuEq over 10.6 metres within a broader interval of 4.0% CuEq over 22.7 metres in drillhole 1274-24-293, located within the main deposit; 11.4% CuEq over 10.6 metres within a broader interval of 4.1% CuEq over 34 metres in drillhole 1274-24-294, located within the main deposit; and 10 to 15% chalcopyrite observed in an 11-metre interval from 48.5 metres in drillhole 1274-24-301, located within the main deposit; and 7% sphalerite observed over 15 metres from 43 metres and 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. The interval observed was drilled up-dip from a historical hole that graded 1.24% CuEq over a length of 22.5 metres and the Company believes that 1274-24-335 may support the deposit's expansion potential.