Abasca files positive PEA on Loki Flake Graphite: US$130 million after-tax NPV, 16.7% IRR

Study projects Loki Flake Graphite Deposit as a long-life graphite development project with positive economics; project to advance toward Feasibility Study

SASKATOON, SK / ACCESS Newswire / August 19, 2026 / Abasca Resources Inc. ("Abasca" or the "Company") (TSXV:ABA) announces positive results from an independent Preliminary Economic Assessment (the "PEA") for its 100%-owned Loki Flake Graphite Deposit ("Loki Deposit" or the "Project"), approximately 15 kilometres south of the Key Lake mill, Figure 1. The study projects the Loki Deposit as a long-life graphite development project with an after-tax net present value (NPV) of US$130 million and 16.7% internal rate of return (Table 1).

The Company's focus will now shift to continuing to acquire the technical data required for preparing a feasibility study ("FS"), while also obtaining an updated environmental impact assessment and the permits necessary to support future project advancement. "Loki has continued to exceed our expectations. We are pleased to reach this significant milestone in our fast‑track journey to develop the deposit and to vest the staged project value. The PEA also provides Abasca with the technical data needed to support financing and offtake strategic processes, while advancing a long‑life graphite development project that aligns with our vision of establishing a reliable, long‑term source of graphite to support the federal and provincial governments' critical‑minerals supply‑chain security strategies," said Dawn Zhou, President and CEO of Abasca.

PEA Highlights

Long-Life Graphite Project: 2,750 tonnes-per-day ("tpd") open-pit mining and processing operation with a 19-year mine life , averaging 66,500 tonnes of graphite concentrate (with an average 95% grade) produced annually and 1.2 million tonnes of payable graphite over the life of mine. The Proje