Abasca Resources Announces Assay Results from the Summer 2025 Drill Program and Start of Winter Drilling at its Loki Flake Graphite Deposit

SASKATOON, SK / ACCESS Newswire / February 9, 2026 / Abasca Resources Inc. ("Abasca" or the "Company") (TSXV:ABA) is pleased to release assay results from the in-fill drilling component of its summer 2025 program at its Loki Flake Graphite Deposit (Loki Deposit) at its 100%-owned Key Lake South (KLS) Project (Figure 1, Figure 2). This component of the summer program was designed with the intent to upgrade the mineral resource classification of the initial 11.31 Mt inferred flake graphite resource at 7.65 % Cg¹ which was derived principally from the results of the 2024 summer drill program. The in-fill drilling was conducted in conjunction with the geotechnical drilling completed at the beginning of the summer program (refer to the Company's release on September 8, 2025).

A total of 6,210 m over 27 holes was completed for in-fill drilling, resulting in graphite mineralization intersections of up to 62.10 m at 9.43 % Cg (KLS-25-095). Locations and orientations of drillholes from the in-fill program included in this release are listed in Table 1 and their assay results are shown in Table 2.

Assay Highlights

• KLS-25-095: 62.10 m at 9.43 % Cg, including 9.1 m at 14.18 % Cg

• KLS-25-097: 56.00 m at 9.49 % Cg, including 10.0 m at 12.93 % Cg and 7.0 m at 13.91 % Cg

• KLS-25-101: 49.70 m at 10.11 % Cg, including 7.0 m at 15.07 % Cg

• KLS-25-096: 47.80 m at 8.06 % Cg, including 10.0 m at 13.70 % Cg

• KLS-25-085: 46.72 m at 9.39 % Cg, including 9.0 m at 15.26 % Cg

The Company also announces the commencement of its 2026 winter drill program at KLS. The program has three objectives: 1) continue to extend the Loki Deposit toward the southeast at 100 x 100 m grid-spacing, 2) geotechnical and hydrogeological drilling to support the Loki Deposit's development, and 3) exploration drilling at the Thor Zone.

Brian McEwan, Vice-President of Exploration commented "The assay results from the summer in-fill program reaffirm the consistency of the graphite mineralization at the Loki Deposit. These results provide us with even more confidence as we continue to develop this amazing resource in Saskatchewan's north. We will continue to focus our efforts on completing the technical field work that will support the next stages of the project. At the same time, we are excited to conduct additional drilling at the Thor Zone that is parallel to the Loki Deposit."

Collected samples were sent to SRC Geoanalytical Laboratories in Saskatoon, Saskatchewan, an independent laboratory accredited under ISO/IEC 17025:2017 for preparation and ICP-MS multi-element analysis, boron by fusion as well as graphite content (% Cg) and total sulphur by LECO. Samples were collected in accordance with industry-standard quality assurance / quality control practices and included the insertion of blanks, standard reference materials, and repeats into the sample stream at regular intervals. Samples were also collected for in-field and lab density measurements at regular intervals and through the mineralized zones.

For more information on the Loki Flake Graphite Deposit and an overview of the Key Lake South Project, please visit the Company's website at https://www.abasca.ca.

Table 1: Locations and orientations of drillholes included in this release. Coordinates are in UTM NAD 83 Zone 13N and all lengths are measured in metres.

Figure 1: Map of the Key Lake South Project area showing the location of the Loki Flake Graphite Deposit.

Figure 2: Map of the area around the Loki Flake Graphite Deposit area showing the drillhole locations from this release as well as previous drillholes.

Table 2: Drillholes and their composited graphite intersections. All lengths are as measured downhole and do not represent true thickness. Composite intervals are calculated using a 3.0 % Cg cut-off and may include a maximum of 2.0 m internal dilution.