Loki Flake Graphite Zone Fourteen Remaining Drillholes

SASKATOON - Abasca Resources Inc. reported on the remaining fourteen drillholes at its Loki Flake Graphite Zone rom its 2024 summer exploration program at its Key Lake South (KLS) Project. The twenty drillholes totaling 5,499 m were designed at a 100 m x 100 m grid spacing to delineate a 600 m section of the Loki Zone. The Loki Zone remains open along strike and at depth. The 2025 winter drill program is underway to continue the delineation of this emerging 2 km graphite zone.

Assay Highlights: 1) KLS-24-043: 60.0 m at 9.01 % Cg, including 7.5 m at 12.91 % Cg and 1.0 m at 21.05 % Cg. 2) KLS-24-049: 44.0 m at 9.34 % Cg, including 9.0 m at 13.57 % Cg. 3) KLS-24-044: 43.5 m at 8.65 % Cg, including 5.5 m at 12.73 % Cg. 4) KLS-24-045: 49.0 m at 8.81 % Cg, including 4.5 m at 14.37 % Cg. 5) KLS-24-037: 38.0 m at 8.48 % Cg, including 7.5 m at 14.55 % Cg. 6) KLS-24-050: 33.5 m at 10.10 % Cg, including 5.5 m at 14.62 % Cg. 7) KLS-24-033: 18.0 m at 7.06 % Cg, and 19.5 m at 7.65 % Cg. 8) KLS-24-032: 37.7 m at 7.27 % Cg. 9) KLS-24-039: 37.0 m at 7.60 % Cg.

"The assay data, consistent with on-site drill core logs, confirm our geological interpretation of the Loki Zone. Abasca has provided these data to Understood Mineral Resources Ltd. (UMR), the independent mineral resource consulting firm engaged to complete an initial flake graphite resource estimate for the Loki Zone. Abasca is encouraged by the progress of the KLS project and remains dedicated to creating shareholder value and supporting Saskatchewan's strategy to double the production of critical minerals in the province," stated Dawn Zhou, President and CEO.

The 2024 summer drill program included 20 holes, totaling 5,499 m, that were drilled at the Loki Zone as part of an initial delineation program. All drillholes intersected graphite mineralization which was encountered at the overburden-basement contact and dips toward the southwest. The graphite mineralization is hosted in metapelitic rocks of the Wollaston Domain along a northwest-trending fault zone. Pegmatite and local calc-silicate rocks are observed in the hanging wall interlayered with the metapelitic gneiss and also contain local graphite mineralization.

Brian McEwan, Vice-President of Exploration, said, "We continue to be excited about this new emerging graphite zone. The results are consistent with our observations, and we are looking forward to extending the zone by further delineation of the Loki Flake Graphite Zone this year."