Abasca Resources Identifies New Thor Graphite Zone and Completes Private Placement

Abasca Resources Inc. announced significant assay results from two drillholes northeast of its Loki Flake Graphite Deposit in the Key Lake South Project. This exploration confirmed graphite mineralization in the new Thor Graphite Zone, which remains unexplored in all directions. Highlights include a 27.0 m intersection at 8.91% Cg in drillhole KLS-24-046 and a 10.0 m intersection at 6.42% Cg in KLS-24-042.

The company also closed the final tranche of its non-brokered private placement, raising $1,000,000. Proceeds will fund exploration activities at Key Lake South, including environmental and hydrological studies. The placement involved issued flow-through units, with significant participation from entities controlled by Dawn Zhou, Abasca's CEO.

All samples were analyzed by SRC Geoanalytical Laboratories in Saskatoon. The results fuel continued exploration efforts in the promising Thor Zone.