ABCOURT Mines - Quebec Silver Miner

May 25, 2005

Near term silver and zinc production

Abcourt Mines is an exciting and unknown development and exploration company with properties located in Quebec, Canada. The province of Quebec is recognised industry wide as a jurisdiction which is very mining friendly. Abcourt is a 100% owner of both a past producing silver-zinc mine located near Val d'Or, Quebec and a past producing gold-copper mine located near Rouyn-Noranda, Quebec. The company is now focused on its silver-zinc mine and has optioned the gold mine to Tom Exploration.

The Abcourt-Barvue silver-zinc mine was placed into production by Abcourt in 1985 after an expenditure of $20 M. In 1990, with falling prices for silver and an anticipated drop in the price of zinc, production was put on hold. Between 1985 and 1990, Abcourt produced 697,016 short tons of ore grading 3.84 ounces of silver per short ton and 5.04% zinc representing 2.67 M ounces of silver and 34,850 tons of zinc. During the past 15 years, management has avoided a strong dilution of the share structure by issuing only a minimum of shares to cover any necessary expenses. Actually, there are only about 29 million shares outstanding which leads to the tiny market cap of approximately US$ 5.5 million.

Renaud Hinse, the CEO of Abcourt is also the largest shareholder. The Hinse family holds 30% of outstanding shares.

Property highlights.

The existing known resource at the silver-zinc property consists of 20.8 million ounces of silver and 659 million pounds of zinc. These numbers are National Instrument 43-101 compliant. While in production, exploration of the property will continue.

Being a past producer, Abcourt has existing infrastructure valued at $12,000,000 Canadian at their silver-zinc mine. The equipment has been very well maintained. Due to the fact that the ore body is near surface, the first five years of production will be done through open pit mining which will reduce overall expenses.

The taxation situation is another positive for Abcourt Mines. Abcourt has administrative general expenses deferred exploration and non depreciated capital assets totalling $10,394,447 at the federal level and $4,747,813 at the provincial level, deferred for income tax purposes which may be deducted from future taxable income. In addition Abcourt has net capital losses totalling $ 2,169,374, which may be used against future taxable capital gains.

Another property of Abcourt Mines is the Vendome-Barvallée property which is located 7 miles from the Abcourt-Barvue property. This property covers 1520 hectares and 38 claims. Past drillings have indicated a rich ore body of silver, gold, zinc and copper. This property will be a future producer and also offers great exploration potential.

The 100% owned Elder gold Property was optioned to T.O.M. Exploration. Abcourt will receive $3 Million over the next 30 months. In addition, Abcourt holds 500.000 shares of TOM and will earn royalties when Tom goes to production.

Share structure

Abcourt Mines
ABI.V (Toronto Venture Exchange):

Issued Shares : 29,278,548 Category B. (Common) shares
Warrants : 485,000 exercisable as 242,500 Cat B. (Common) shares before June 30,2006 at $0.26 CDN
Total Outstanding : 29,821,048 Category B. (Common) shares

Currently, there is a financing ongoing which will raise sufficient funds in order to complete a feasibility study and a 30 hole summer drill program. The results of the drill program will increase and upgrade the known resource. The completion of the feasibility study is a requirement for the 2006 re-opening of the Abcourt-Barvue mine.

Conclusion: What you get for your money!

Abcourt is managed by a very qualified management team with experience in both exploration and production. Abcourt is a proven entity, a past producer who has survived a 15 year bear market without excessive dilution of the company shares. The company has no debt. Management has followed the "silver story" closely and is now committed to positioning the company for the anticipated strong move up in metal prices, silver in particular. In an effort to get their story out, Abcourt was recently listed on the Berlin Exchange and every effort will be made to promote Abcourt internationally.


Renaud Hinse, president & CEO
Tel : (819) 768-2857
Tel : (450) 446-5511

Joe O'Brien, Investor Relations
Tel : (416) 750-8041


Christian Wirth is a German resident who owns shares of Abcourt. He has not been paid by Abcourt for writing the essay. Do your own due diligence. The essay is not investment advice.

Most silver is produced as a byproduct of copper, gold, lead and zinc refining.