Abasca Resources Provides Exploration Update at its Loki Flake Graphite Deposit and Granting Stock Option

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“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. The Company also announces the grant of 3,875,000 incentive stock options to its directors and officers (the "Options"), with each Option entitling the holder to purchase one common share of the Company for a period of 5 years at an exercise price of $0.07 per share. 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 . 1 Please refer to the technical report dated May 29, 2025, with an effective date of April 10, 2025 and titled "Technical Report on the Key Lake South Project with Initial Mineral Resource Estimate for the Loki Flake Graphite Deposit, Saskatchewan, Canada" filed under the Company's profile on the SEDAR+ website for further information about the resource estimate. 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, 2025 drilling. Figure 3 : Oblique view of the Loki Flake Graphite Deposit, showing the location of the flake graphite zone intersections from the summer 2025 drill program in relation to the pit-constrained inferred resource and the 2016, 2024, and 2025 winter drill results. Summer 2025 intersections are based on visual estimates of drill cores and confirmation by assays are pending. 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. Drillhole ID Easting Northing Elevation Azimuth Inclination Length KLS-25-078 445384 6330185 554 35 -60 362 KLS-25-080 445467 6330128 554 35 -60 347 KLS-25-082 445663 6330236 554 35 -60 184 KLS-25-083 445500 6330350 555 35 -60 191 KLS-25-084 445610 6330335 554 35 -60 143 KLS-25-085 445579 6330292 554 35 -60 189 KLS-25-086 445553 6330251 554 35 -60 230 KLS-25-087 445777 6330220 559 35 -60 164 KLS-25-088 445743 6330175 556 35 -60 200 KLS-25-088A 445745 6330177 559 35 -60 72 KLS-25-089 445715 6330134 556 35 -60 218 KLS-25-090 445694 6330093 555 25 -60 233 KLS-25-091 445647 6330124 555 35 -60 251 KLS-25-092 445704 6330208 555 38 -60 192 KLS-25-093 445695 6330278 555 37 -60 138 KLS-25-094 445636 6330194 553 37 -60 215 KLS-25-095 445606 6330152 554 35 -60 256 KLS-25-096 445565 6330182 555 35 -60 296 KLS-25-097 445622 6330265 555 37 -60 200 KLS-25-098 445444 6330267 555 35 -60 260 KLS-25-099 445483 6330241 553 35 -60 299 KLS-25-100 445539 6330321 553 35 -60 191 KLS-25-101 445548 6330069 556 35 -60 345 KLS-25-102 445419 6330409 558 39 -60 164 KLS-25-103 445363 6330327 557 38 -60 248 Qualified Person The technical information in this news release has been reviewed and approved by Brian McEwan, P.Geo, a Qualified Person as set out in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. McEwan is the Vice-President of Exploration at Abasca. About Abasca Resources Inc. Abasca is a mineral exploration company that is primarily engaged in the acquisition and evaluation of mineral exploration properties. The Company owns the Key Lake South Project (KLS), a 23,977-hectare exploration project located in the Athabasca Basin Region in northern Saskatchewan, approximately 15 km south of the former Key Lake mine and current Key Lake mill. The project possesses geological similarities and along strike of past Key Lake Mine with prospective conductors of over 50 km for potential uranium mineralization. KLS is also host to the Loki Flake Graphite Deposit comprising a total inferred resource of 11.31 Mt at 7.65 % Cg. Please refer to the technical report dated May 29, 2025, with an effective date of April 10, 2025 and titled "Technical Report on the Key Lake South Project with Initial Mineral Resource Estimate for the Loki Flake Graphite Deposit, Saskatchewan, Canada" filed under the Company's profile on the SEDAR+ website for further information about the resource estimate. On behalf of Abasca Resources Inc. Dawn Zhou, M.Sc, CPA President, CEO and Director For more information visit the Company's website at https://www.abasca.ca or contact: Abasca Resources Inc. Email: info@abasca.ca Telephone: +1 (306) 933 4261 Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release. Forward-Looking Statements This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Forward-looking information reflects management's current beliefs with respect to future events and is based on information currently available to management. Forward-looking information contained in this press release includes, but is not limited to, statements relating to the mineral resource estimate for the Loki Deposit, the high grade zones identified in the drill program adding to the mineral resource estimate, the acceleration of the Loki Deposit towards the next stages of development and the timing of preparation of a preliminary economic assessment and a pre-feasibility study. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. Abasca undertakes no obligation to comment on analyses, expectations, or statements made by third parties in respect of Abasca, its securities, or financial or operating results (as applicable). Although Abasca believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors, and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks, uncertainties and factors, certain of which are beyond Abasca's control, including the impact of general business and economic conditions; risks related the exploration activities to be conducted on KLS, including risks related to government and environmental regulation; actual results of exploration activities; industry conditions, including uranium and graphite price fluctuations, interest and exchange rate fluctuations; the influence of macroeconomic developments; business opportunities that become available or are pursued; title, permit or license disputes related to KLS; litigation; fluctuations in interest rates; and other factors. In addition, the forward-looking information is based on several assumptions which may prove to be incorrect, including, but not limited to, assumptions about the availability of qualified employees and contractors for the Company's operations and the availability of equipment. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. Abasca disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. SOURCE: Abasca Resources Inc. View the original press release on ACCESS Newswire”

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“The technical information in this news release has been reviewed and approved by Brian McEwan, P.Geo, a Qualified Person as set out in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.”

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“Assays from the summer program are pending.”

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“The summer 2025 program focused on in-fill drilling of the MRE”

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“The winter 2025 program (see Company's press release dated November 12, 2025 for results) focused on expansion of the MRE toward the northwest and southeast, extending the strike-length of graphite mineralization at inferred-spaced drilling by 700 m.”

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“Qualified Person as set out in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.”

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“11.31 Mt pit-constrained inferred flake graphite resource”

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“Abasca is now turning its attention to preparing a Preliminary Economic Assessment (PEA) in mid-2026”

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“then transition to preparing a Pre-Feasibility Study (PFS) in late 2026.”