Update on Uranium and Graphite Exploration by Abasca Resources Inc.

Abasca Resources Inc. announced today updates on its Key Lake South Uranium project in Saskatchewan, highlighting exploration plans for 2024 including a 5000-meter drilling program to test promising targets. The company also mentioned the graphite potential in the "Loki Zone" following encouraging results from a re-sampling.

In 2023, two drilling programs were completed, confirming the potential of graphite structures and uranium at abnormal levels, notably in the Mustang area. Efforts will continue in 2024 to further explore the Mustang-Seager Lake, Campbell, and Zimmer areas for uranium and graphite.

Graphite, recognized as a critical mineral by Natural Resources Canada, has shown early positive signs. This, combined with the planning of a re-sampling during summer 2024, enhances optimism for evaluating potential graphite and uranium deposits on the project.

Citing the potential of the Key Lake South project in terms of critical minerals and uranium, Dawn Zhou, President and CEO, emphasized the company's ongoing commitment to mineral exploration in Saskatchewan. Samples collected from previous programs for analysis purposes will be reassessed, providing a fresh perspective on the graphite and uranium potential of the site.