Abitibi Metals Corp. (CSE: AMQ) Earns 100% Ownership of Beschefer Gold Property

Highlights

• 100% Ownership secured for Beschefer Gold Project following final payment of shares
• Beschefer Gold Property offers significant near-term resource potential with high-grade gold intercepts
• Location: Situated in Northern Abitibi Greenstone Belt, Quebec, near major gold deposits

Abitibi Metals Corp. (CSE:AMQ) (OTCQB: AMQFF) has achieved a significant milestone in its exploration efforts by earning 100% ownership of the Beschefer Gold Property, an advanced exploration project located in the Northern Abitibi Greenstone Belt in Quebec. The acquisition follows the completion of its obligations under an option agreement with Wallbridge Mining Company Limited (Wallbridge), which was originally entered into on February 26, 2021.

Under the terms of the agreement, Abitibi Metals issued 2,033,672 common shares and incurred $3,000,000 in qualified exploration expenditures over a four-year period. This milestone establishes Abitibi as the sole owner of the Beschefer Property, which consists of seven claims covering approximately 962 acres. The property is strategically located in a well-established orogenic gold setting, providing Abitibi with an opportunity to unlock significant value through further exploration.

Jonathon Deluce, President and CEO of Abitibi, highlighted the strategic importance of the Beschefer Gold Project. He stated, “Securing 100% ownership of the Beschefer Gold Project is a significant milestone for Abitibi Metals, reinforcing our commitment to advancing high-quality exploration assets in the Abitibi Greenstone Belt. The Beschefer Project has consistently delivered impressive high-grade gold intercepts, demonstrating strong near-term resource potential.”

Exceptional Gold Intercepts at Beschefer Property

The Beschefer Gold Property has shown promising results from previous drilling campaigns, with high-grade gold intercepts demonstrating the potential for a strong future resource. Some of the best intersections include 55.63 g/t Au over 5.57m in hole BE13-038, which includes extraordinary values of 224 g/t Au over 1.23m, and 13.95 g/t Au over 0.68m. Other notable intersections include 4.92 g/t Au over 28.65m and 10.28 g/t Au over 8.00m.

The mineralization at Beschefer displays high-grade gold-bearing structures, hosted within a lower-grade envelope. This characteristic highlights the regional potential of the property, especially along the shear zones that have been defined within the property. These results further support Abitibi’s belief in the strong upside potential of the Beschefer Gold Project, which is situated near other prominent deposits such as the Casa Berardi Mine and Wallbridge’s Fenelon Gold Project.

Strategic Location and Regional Significance

Located just 45 km northeast of the Casa Berardi Mine and 30 km southwest of Wallbridge’s Fenelon Gold Project, the Beschefer Gold Property benefits from its proximity to some of the most active and successful gold mining projects in Quebec. The B26 Deposit, also held by Abitibi, is located just 7 km away, further adding to the strategic value of the property.