Abasca Resources Releases Assay Results from the Winter 2025 Drill Program at Its Loki Flake Graphite Deposit

SASKATOON, SK / ACCESS Newswire / November 12, 2025 / Abasca Resources Inc. ("Abasca" or the "Company") (TSXV:ABA) is pleased to release assay results from the winter 2025 drill program at its Loki Flake Graphite Deposit (Loki Deposit) at its 100%-owned Key Lake South (KLS) Project (Figure 1, Figure 2). The drill program focused on expanding on the initial 11.31 Mt inferred flake graphite resource at 7.65 % Cg¹. A total of 5,925 m over 23 holes were completed. This included one hole (KLS-24-072) at the Thor Zone, which successfully intersected three intervals of graphite mineralization. The primary interval measured a total length of 40 m with an average grade of 8.57%. (Assay results for the hole were previously released on August 25, 2025). Drilling completed at the Loki Deposit extended the inferred-spaced drilling along strike by 300 m toward the northwest and 400 m toward the southeast (Figure 3). Locations and orientations of drillholes included in this release are listed in Table 1 and their assay results are shown in Table 2.

Assay Highlights

• KLS-25-058: 30.00 m at 10.64 % Cg, including 10.0 m at 13.77 % Cg

• KLS-25-060: 34.00 m at 9.02 % Cg, including 9.0 m at 12.18 % Cg

• KLS-25-066: 26.00 m at 8.53 % Cg, including 7.0 m at 12.33 % Cg

• KLS-25-057: 24.85 m at 8.49 % Cg, including 5.85 m at 12.49 % Cg

• KLS-25-053: 20.35 m at 8.12 % Cg, including 8.0 m at 11.71 % Cg

• KLS-25-055: 20.10 m at 9.37 % Cg, including 7.0 m at 13.03 % Cg

• KLS-25-055: 19.70 m at 10.44 % Cg, including 6.0 m at 15.52 % Cg

Brian McEwan, Vice-President of Exploration commented "The Loki Deposit continues to provide consistent graphite intercepts along strike toward the southeast. We are very pleased with these high-grade zones from our winter program which will add to our initial mineral resource released earlier this year. With each expansion program, we continue to add to our geologic understanding of the Loki Deposit. We look forward to advancing the Loki Deposit toward the next stages of development."

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.

Figure 1: Map of the Key Lake South Project area showing the location of the Loki Flake Graphite Deposit and other exploration target areas.

Figure 2: Map of the area around the Loki Flake Graphite Deposit area showing the 2016, 2024, and winter 2025 drilling.

Figure 3: Oblique view of the Loki Flake Graphite Deposit, showing the location of the mineralized flake graphite zones from the winter 2025 drill program in relation to the pit-constrained inferred resource and the 2016 and 2024 drill results.

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.

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.