Abitibi Metals Secures 100% Ownership of the B26 Deposit and Establishes a District Scale Consolidation Platform Across the Selbaie Camp

Transaction provides full ownership of one of Quebec's largest undeveloped polymetallic deposits

Toronto, Ontario--(Newsfile Corp. - June 11, 2026) - Abitibi Metals Corp. (CSE: AMQ) (OTCQB: AMQFF) (FSE: FW0) ("Abitibi" or the "Company") is pleased to announce that it has entered into a definitive agreement with SOQUEM Inc. ("SOQUEM") to acquire SOQUEM's remaining 20% interest in the B26 Polymetallic Deposit ("B26"), resulting in Abitibi securing 100% ownership of its flagship asset.

The transaction marks a significant milestone in the Company's evolution from explorer to developer, providing full ownership and control of one of Quebec's largest undeveloped high-grade polymetallic deposits while simultaneously establishing a long-term pathway toward broader consolidation opportunities across the Selbaie Mining Camp.

The B26 Deposit hosts a 2026 updated resource estimate comprising 13.0 million tonnes grading 2.1% CuEq in the Indicated category and 12.4 million tonnes grading 2.2% CuEq¹ in the Inferred category, for a combined 25.3 million tonnes¹ which has grown by 124% since the Company's initial option in 2023. Concurrent with this transaction, Abitibi is launching its largest drill program in company history, with active drilling already delivering high-grade results. (See May 27^th Press Release)

Transaction Highlights

• Full project consolidation: Abitibi becomes sole owner of B26, eliminating joint-venture complexity and securing unencumbered control at a critical development inflection point, with the deposit remaining open both laterally and at depth
• Capital-disciplined transaction structure: Initial consideration of approximately C$7 million, with milestones payments structured across feasibility and construction decision stages, preserving near-term capital flexibility and aligning cost directly with value creation
• Simple, clean royalty structure: SOQUEM will retain a 1% net smelter return (NSR) royalty
• Benefits of 100% Ownership:
  • Full exposure to future resource growth and project economics
  • Simplified project governance and decision-making
  • Enhanced flexibility for financing and strategic partnerships
  • Greater control over infrastructure and development planning
  • Increased ability to evaluate regional consolidation opportunities
• District-scale consolidation pathway: Secures a 10-year Right of First Refusal on SOQUEM's wholly-owned Wagosic and Carheil properties, positioning Abitibi as the logical consolidator of the broader Selbaie Camp
• Immediate collaborative framework established: A joint technical committee will be formed with SOQUEM to advance both B26 and Wagosic concurrently, with initial metallurgical test work on blended material representing the first step toward evaluating combined development scenarios

"Securing 100% ownership of B26 represents a transformative milestone for Abitibi Metals," said Jon Deluce, President and Chief Executive Officer. "Over the past two years, we have increased the B26 resource by 124%, assembled a highly experienced technical team and established a clear roadmap toward development. With full ownership now secured, we have complete control over the future direction of the project and the ability to maximize value for our shareholders.

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