London, Ontario, February 5th, 2026, FinanceWire
The Deposit Remains Open Laterally and at Depth, with a Fully Funded 40,000-Metre Drill Program Currently Underway
Resource Expansion Highlights:
- Indicated Resources Expand to a meaningful 13 Mt (+14% vs. 2024 MRE):Indicated resources grade at 1.2% copper (“Cu”), 1.2% zinc (“Zn”), 0.44 g/t gold (“Au”) and 30.8 g/t silver (“Ag”) or 2.1% copper equivalent (“CuEq”) or 2.8 g/t gold equivalent (“AuEq”)
- Indicated resources contain 340 million pounds (“Mlbs”) Cu, 332 Mlbs Zn, 184 thousand ounces (“koz”) Au and 12.8 million ounces (“Moz”) Ag or 595 Mlbs of CuEq or 1.2 million ounces (“Moz”) AuEq.
- Inferred Resources Grow Significantly to 12.3 Mt (+72% vs. 2024 MRE):
- Inferred resources grade at 1.6% Cu, 0.16% Zn, 0.68 g/t Au and 8.14 g/t Ag or 2.2% CuEq or 2.97 g/t AuEq.
- Inferred resources contain 435 Mlbs Cu, 43 Mlbs Zn, 268 koz Au and 3.2 Moz Ag or 599 Mlbs of CuEq or 1.2 Moz AuEq.
- Significant Growth Across All Metals Since the 2024 Resource Estimate:+ 40% increase in contained copper (+11% Ind, +77% Inf)
- + 22% increase in contained gold (+9% Ind, +33% Inf)
- + 21% increase in contained silver (+11% Ind, +90% Inf)
- + 9% increase in contained zinc (+5% Ind, +59% Inf)
- Abitibi Metals stands as a significant emerging critical-minerals company in the Abitibi Greenstone Belt, anchored by a high-grade copper-gold VMS project with meaningful scale and a strong expansion potential.
- Jonathon Deluce, CEO of Abitibi Metals stated: “Conservative base-case pricing assumptions were used (Au US$2,500/oz, Ag US$30/oz, Cu US$4.50/lb, Zn US$1.35/lb); at spot1 pricing, the indicated Cu Eq grade increases to 2.59%, with inferred resources at 2.55% Cu Eq.”
London, Ontario–(February 5, 2026) – Abitibi Metals Corp. (CSE:AMQ) (OTCQB:AMQFF) (WKN: A3EWQ3) (“Abitibi” or the “Company”) is pleased to announce the results of an updated mineral resource estimate for its B26 polymetallic deposit (“B26”, the “Project” or the “Deposit”) incorporating 42,980 metres of drilling completed across 37 holes, 16 wedges and 1 hole extension as part of the successful 2024 and 2025 Phase 2 and Phase 3 drill programs. The Company has already commenced its significant and fully funded 2026 Phase 4 drill program totaling approximately 40,000 metres. This program includes a robust winter drilling campaign of approximately 15,000 to 20,000 metres of diamond drilling, positioning the Company to continue expanding the B26 Deposit through the year. The Company currently owns 50% of the B26 Deposit and retains the option to earn an additional 30% from SOQUEM Inc. (“SOQUEM”), a subsidiary of Investissement Québec (see news release dated November 16, 2023).
Jonathon Deluce, CEO of Abitibi Metals stated: “Since 2023, our goal has been to establish Abitibi Metals as a significant critical minerals company in the Abitibi Greenstone Belt, and B26 sits at the center of that strategy. When we optioned the project, our objective was clear: demonstrate scale without compromising grade. This update materially exceeds that goal. With more than 25 million tonnes now defined across both resource categories-representing a 124% increase since the project was optioned to SOQUEM and the 2018 MRE-B26 has crossed an important milestone.
With mineralization remaining open laterally and at depth, and a fully funded 40,000-metre Phase 4 drill program underway, B26 is well positioned to continue demonstrating a strong growth profile toward Selbaie-scale potential. Ongoing resource expansion drilling is being complemented this year by the Company’s first regional exploration program, designed to unlock additional discovery potential across the broader property.
We have applied conservative base-case commodity price assumptions in the resource estimate, using gold at US$2,500/oz, silver at US$30/oz, copper at US$4.50/lb, and zinc at US$1.35/lb. However, the deposit demonstrates meaningful leverage to rising precious- and base-metal prices. This is evidenced by running the copper-equivalent calculation at current spot1 prices, which increases the overall indicated Cu Eq grade to 2.59% and the inferred component to 2.55% Cu Eq.
We would also like to acknowledge SOQUEM’s foundational work, whose technical expertise and systematic exploration efforts laid the framework for this achievement, as well as the longstanding commitment of SOQUEM and Investissement Québec to B26 and mineral exploration in the province. Their support continues to highlight Québec as one of the most attractive and globally competitive jurisdictions for responsible mining development.”
Strategic Importance of the B26 Asset
- B26 has reached a level of scale and continuity that supports its advancement as a cornerstone copper-gold VMS asset within the Abitibi Greenstone Belt
- Growth has been delivered through disciplined drilling and systematic expansion, resulting in a 124% increase in total tonnage since the 2023 option agreement
- Grades have been preserved as scale has expanded, reinforcing the robustness of the underlying geological model
- The updated resource estimate is based on a conservative underground cut-off grade and precious metals & commodity prices, providing confidence that the reported scale reflects a disciplined and prudent development framework
- Mineralization remains open laterally and at depth, offering clear potential for continued resource growth
- A fully funded 40,000-metre drill program is underway, positioning the Company to advance the next phase of growth while maintaining flexibility
The updated mineral resource estimate, summarized in Tables 1 through 3, underscores the growing scale and quality of the B26 deposit. Table 1 presents the revised underground mineral resource estimate, Table 2 outlines the contained metal, and Table 3 provides a sensitivity analysis across a range of cut-off grades.
The increase in resources is driven largely by the expansion and lateral and vertical extension of existing mineralized zones, reinforcing the strength and continuity of the system. Approximately 9% of the tonnage growth reflects updated commodity price assumptions aligned with prevailing market conditions.
Table 1: B26 2026 Mineral Resource Estimate
Notes:
(1) The cut-off grade used underground is an in-situ value of 100 US$/t (after processing recovery, equivalent to 1.03 % Cu, or 3.50 % Zn, or 1.38 g/t Au or 143.9 g/t Ag).
(2) The copper equivalent, and gold equivalent values are presented for comparison purposes.
(3) The mineral resources were estimated in compliance with Canadian Institute of Mining, Metallurgy and Petroleum standards. These mineral resources were reported in accordance with the NI 43-101 standards.
(4) Mineral resources do not constitute mineral reserves because they have not demonstrated economic viability.
(5) Inferred resources are exclusive of indicated resources.
(6) The effective date of these mineral resources is January 1, 2026.
(7) The resources are estimated with a cut-off on the combined value of a tonne of resource.
(8) The in-situ value of the resources as well as the Cu, and Au equivalents are calculated with recoveries of Cu: 98.3 %, Zn: 96.1 %, Au: 90 %, Ag: 72.1 % and Pb: 44 % and prices of Cu: 9,922 $/t (4.5 $/lb), Zn: 2,976 $/t (1.35 $/lb), Au: 2,500 $/oz, Ag: 30 $/oz and Pb: 0.85 $/lb.
(9) All resources are presented in-situ and undiluted.
(10) All $ values are in US$ unless specifically noted.
(11)All figures are rounded to reflect the relative accuracy of the estimate. Numbers may not add due to rounding.
Table 2: 2026 Resource Estimate – B26 Contained Metal
Notes:
(1) The metal content was calculated using the values presented in table 1.
(2) Notes (1) to (11) from table 1 apply to table 2.
Table 3: B26 Mineral Resource Estimate Sensitivity Analysis
Notes:
(1) The metal content was calculated using the values presented in table 1.
(2) Notes (2) to (11) from table 1 apply to table 3.
(3) The underground cut-off grade used (base case -20 %) is a value of 80 US$/t (after processing recovery, equivalent to 0.82 % Cu, or 2.80 % Zn, or 1.11 g/t Au or 115.1 g/t Ag).
(4) The underground cut-off grade used (base case) is a value of 100 US$/t (after processing recovery, equivalent to 1.03 % Cu, or 3.50 % Zn, or 1.38 g/t Au or 143.9 g/t Ag).
(5) The underground cut-off grade used (base case +20 %) is a value of 120 US$/t (after processing recovery, equivalent to 1.23 % Cu, or 4.20 % Zn, or 1.66 g/t Au or 172.7 g/t Ag).
Figure 1: Change in Indicated and Inferred Resource Tonnage (2026 MRE vs. 2024 MRE)
To view an enhanced version of this graphic, please visit:
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Resources were estimated using the following parameters:
- The database includes 356 drill holes for a total of 172,164 metres. Of these, 102 were drilled in 2024 and 2025 by Abitibi Metals, 191 were drilled by SOQUEM from 2013, and 63 are considered historical.
- The database includes 67,842 assays with an average core length of 1.20 metres per sample for a total assayed length of 81,631 metres. Core drilled by Abitibi Metals and SOQUEM is NQ-sized and was assayed by Actlabs in 2014, AGAT in 2024, 2025 and 2015 (re-sampling), ALS in 2016-2017.
- The resource estimate was performed using inverse-distance squared (ID2).
- Block size is 5 x 1 x 5 m with block percents.
- The model was built using 97 cross-sections with a variable spacing of 8 to 50 metres depending on data density (average spacing of 20 metres). A total of 46 solids were modeled, of which 35 were considered as the Feeder Cu , 4 for the Horizon Zn , and 7 for the Remob Ag-Zn. Minimum intercept length in a drill hole is 3 metres, which approximately corresponds to 2 metres of horizontal thickness.
- Capping was used for all variables. Each variable was capped differently for the Feeder Cu, Horizon Zn and Remob Ag-Zn zones. The global metal loss due to capping is of 0.9% for Cu, 1.2% for Zn, 3.3% for Au 3.1% for Ag and 3.9% for Pb.
- Rock density is 2.8 for Feeder Cu and Remob Ag-Zn solids. Density is 2.95 for Horizon Zn solids. These values are based on 2,349 measurements by SOQUEM between 2013 and 2017. This parametre was unchanged from the 2018 and 2024 MRE.
- Parameters used for the Underground Mining Scenario are:
- Prices:
- Cu: 9,922 $/t (4.5 $/lb)
- Zn: 2,976 $/t (1.35 $/lb)
- Au: 2,500 $/oz
- Ag: 30 $/oz
- Pb: 0.85 $/lb
- Costs:
- Underground ore mining: $60.50/t
- Processing: $24/t
- G&A: $1.5/t
- Mining recovery: 90%
- Milling recovery: Cu: 98.3 %, Zn: 96.1 %, Au: 90 %, Ag: 72.1 % and Pb: 44 %
- Mining dilution: 10%
- Royalty: 0%
- Waste density: 2.8
- The formula to calculate the in-situ value is the following:
- 97.53 ($/%) x Cu(%) + 28.6 ($/%) x Zn(%) + 72.34 ($/g) x Au (g/t) + 0.695 ($/g) x Ag (g/t) + 8.25 ($/%) x Pb(%)
- Small zones of estimated mineralized material were excluded from the MRE figures, as they may not be substantial enough to justify underground development.
Further details regarding the 2026 mineral resource estimate, key assumptions, parameters and methods used to estimate the mineral resources of the B26 Deposit will be available on SEDAR Plus (www.sedarplus.ca) under the Corporation’s issuer profile within 45 days in accordance with NI 43-101.
Yann Camus P.Eng. of SGS Canada Inc., is the independent qualified person responsible for the technical information about the resource estimate presented in this news release, as defined by NI 43−101 Standards of Disclosure for Mineral Projects, including the verification of released data.
Strict QA/QC protocols were used during all exploration programs performed by SOQUEM and Abitibi Metals on the B26 project, including the insertion of certified reference material and blanks.
About Abitibi Metals Corp
Abitibi Metals Corp. is dedicated to acquiring and exploring mineral properties within Quebec, with a particular emphasis on high-quality base and precious metal assets that offer significant potential for growth and expansion.
The company’s flagship B26 Polymetallic project which has been optioned from SOQUEM, hosts a substantial and growing resource base.
The B26 project is strategically located just 7 kilometres southeast of the formerly producing Selbaie mine. This proximity provides the project with access to key infrastructure required for potential mine development.
In addition to the B26 Deposit, Abitibi’s portfolio includes the Beschefer Gold project, historical drilling has identified four notable, historical intercepts with a metal factor of over 100 g/t gold highlighted by 55.63 g/t gold over 5.57 metres (BE13-038)2 amongst four modelled zones. These promising findings highlight the potential for further gold discoveries within the project area.
About SOQUEM
SOQUEM, a mineral exploration company and subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. Proud partner and ambassador for the development of Quebec’s mineral wealth, SOQUEM relies on innovation, research and strategic minerals to be well-positioned for the future.
Note 1: Spot was calculated using as at January 30, 2026, balances of US$4,905.85/oz, silver at US$105.52/oz, copper at US$5.92/lb, zinc at US$1.69/lb and lead at US$1.00/lb.
Note 2 – Source: Excellon drills 55.60 g/t gold over 5.57 metres on Beschefer Project, Quebec
ON BEHALF OF THE BOARD
Jonathon Deluce, Chief Executive Officer
For more information, please call +1 226-271-5170, email info@abitibimetals.com, or visit https://www.abitibimetals.com.
The Company also maintains an active presence on various social media platforms to keep stakeholders and the general public informed and encourages shareholders and interested parties to follow and engage with the Company through the following channels to stay updated with the latest news, industry insights, and corporate announcements:
Twitter: https://twitter.com/AbitibiMetals
LinkedIn: https://www.linkedin.com/company/abitibi-metals-corp-amq-c/
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statement:
This news release contains certain statements, which may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information involves statements that are not based on historical information but rather relate to future operations, strategies, financial results or other developments on the B26 Project or otherwise. Forward-looking information is necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company’s control and many of which, regarding future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward-looking statements made by or on the Company’s behalf. Although Abitibi has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. All factors should be considered carefully, and readers should not place undue reliance on Abitibi’s forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects,” “estimates,” “anticipates,” or variations of such words and phrases (including negative and grammatical variations) or statements that certain actions, events or results “may,” “could,” “might” or “occur. Mineral exploration and development are highly speculative and are characterized by a number of significant inherent risks, which may result in the inability of the Company to successfully develop current or proposed projects for commercial, technical, political, regulatory or financial reasons, or if successfully developed, may not remain economically viable for their mine life owing to any of the foregoing reasons, among others. There is no assurance that the Company will be successful in achieving commercial mineral production and the likelihood of success must be considered in light of the stage of operations.
Featured Image @ Freepik
Contact
Chief Executive Officer
Jonathon Deluce
Abitibi Metals Corp
info@abitibimetals.com
Disclaimer: Insider Monkey editorial and newsroom staff were not involved in the creation of this content
