|By Marketwired .||
|December 12, 2012 12:20 PM EST||
MONT-ST-HILAIRE, QUEBEC -- (Marketwire) -- 12/12/12 -- Mr. Renaud Hinse, President and C.E.O. of Abcourt Mines Inc. (TSX VENTURE:ABI)(BERLIN:AML)(FRANKFURT:AML) (the "Company"), reports to the Company's shareholders that Messieurs Christian Dupont, Marc Filion, Jean-Guy Courtois, Normand and Renaud Hinse, who have been directors of the Company for many years, were re-elected at the Annual and Special Meeting held on December 7, 2012, for an additional year. Two new candidates, Messieurs Yves Usereau, CPA, CA, and Andre DeGuise, mining engineer, were elected for the first time for a term of one year. As the Company's projects are in a more advanced stage, these new directors will bring their experience and expertise to the development of the Company.
Dallaire & Lapointe Inc., Chartered Accountants of Rouyn-Noranda, were also re-appointed auditors of the Company for the year 2013.
The proposed amendment to the Company's Stock Option Plan (the "Plan") was approved by a large majority of votes cast at the Meeting. This amendment aims to extend from 90 days to 12 months the maximum delay to exercise an option when a person ceases to be a participant under the Plan, including in reason of a death. In addition, the amendment to the outstanding stock options in this line was approved by a majority of votes cast by disinterested shareholders. This amendment will entitle the optionees to exercise their outstanding options during a period of 12 months after they cease to be a participant under the Plan, including in reason of death.
After the Meeting, the Board of Directors met and approved, amongst other things, the grant of 300,000 common share stock options in favor of each of the two new directors, at an exercise price of $0.085 per option, valid for a five year period. Those options are subject to the terms and conditions of the Company's Plan, as amemded.
About Abcourt Mines Inc.
Abcourt Mines Inc. is an exploration and development company with strategically located properties in northwestern Quebec, Canada. The Elder Mine with 43-101 gold resources, the Abcourt-Barvue Project with 43-101 silver-zinc ore reserves and resources and the Aldermac property with historical copper-zinc resources are all former producers. Abcourt is now focused on bringing the Elder and Abcourt-Barvue projects back into production with Elder as the first priority. At the same time the company is working on other projects (Aldermac, Vezza, Jonpol and Vendome) to increase its mineral resources inventory. A 43-101 resource calculation was completed in July, 2012, for the Elder Mine. A positive 43-101 feasibility study was completed by GENIVAR in 2007 on the Abcourt-Barvue Project. In addition, mill equipment was purchased. A positive PEA report on Elder mine, prepared by Roche Ltd, Consulting Group, was recently received (November 2012). To know more about Abcourt, please visit our web site at www.abcourt.com and SEDAR.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
President and CEO
819 768-2857 / 450 446-5511
819 768-5475 / 450 446-3550 (FAX)
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