Abasca Resources Announces Newly Discovered Thor Graphite Zone Parallel to its Loki Flake Graphite Deposit and Closing of the Final Tranche of Its Private Placement

Abasca Resources Inc. has announced significant exploration results from its 100%-owned Key Lake project in Saskatchewan, including the discovery of a new graphite zone named Thor that runs parallel to the company's established Loki Flake Graphite Deposit. The discovery was made through two exploration drillholes conducted northeast of the Loki Deposit, with assay results now confirming the presence of graphite mineralization in this previously unexplored area.

The identification of the Thor Graphite Zone represents a meaningful expansion of the mineralized footprint at Key Lake, potentially increasing the overall resource potential of the project. The parallel orientation to the existing Loki Deposit suggests similar geological controls and formation processes, which could indicate favorable conditions for continued exploration success in the area.

Concurrently with the exploration announcement, Abasca confirmed the closing of the final tranche of its private placement financing. This completed financing provides the company with additional working capital to advance exploration activities at Key Lake and pursue further development of both the established Loki Deposit and the newly discovered Thor zone.

For the graphite sector, this discovery comes at a time of heightened interest in battery materials and critical minerals. The expansion of known graphite resources in Saskatchewan, a mining-friendly jurisdiction, could contribute to North American supply chain security for electric vehicle and energy storage applications. The parallel nature of the Thor zone to the existing deposit may also offer operational synergies and economies of scale in any future development scenarios.