Abasca Resources Announces Exploration Update at its Loki Flake Graphite Deposit and Non-Brokered Private Placement of up to $2.5 Million

Abasca Resources Inc. has completed a key phase of its 2025 summer exploration program at the Loki Flake Graphite Deposit in Saskatchewan, finishing geohydrological and geotechnical drilling work. This technical work represents an important step in advancing the project's development as the company builds out its understanding of the deposit's characteristics and environmental considerations.

Concurrent with the exploration update, Abasca announced a non-brokered private placement of up to $2.5 million. This financing will provide the company with capital to continue advancing the Loki project and potentially expand its exploration activities. The private placement structure suggests strong investor confidence in the project's potential.

The timing of this announcement is significant as global demand for battery materials, including flake graphite, continues to grow driven by the electric vehicle revolution and energy storage needs. Saskatchewan's mining-friendly jurisdiction and established infrastructure provide additional advantages for Abasca's development timeline.

The completion of geohydrological and geotechnical work indicates Abasca is methodically advancing toward potential resource definition and eventual feasibility studies. Combined with the new financing, this positions the company well to maintain momentum on what could become an important graphite supply source for the North American battery materials market.