Abasca Resources Engages High Grade Mining Consulting and Announces $3 Million Private Placement

Abasca Resources Inc. has engaged High Grade Mining Consulting Ltd., led by Gary Haywood, to provide strategic consulting for its Loki Flake Graphite Deposit in Northern Saskatchewan. Haywood's experience in mine operations and project development is expected to aid in preparing a Preliminary Economic Assessment for the deposit.

Additionally, Abasca announced a non-brokered private placement aiming to raise $3 million through the sale of up to 12 million common shares at $0.25 each. The raised funds will support exploration activities at the Loki Deposit, intended as "Canadian exploration expenses" or "flow-through mining expenditures" under the Tax Act.

The proceeds will help de-risk the deposit and accelerate production goals. Closing of the private placement, which is subject to exchange approval, could also involve cash finder's fees up to 6%.