Abasca Resources Releases Assay Results from the Winter 2025 Drill Program at Its Loki Flake Graphite Deposit

SASKATOON, SK / ACCESS Newswire / November 12, 2025 / Abasca Resources Inc. ("Abasca" or the "Company") (TSXV:ABA) is pleased to release assay results from the winter 2025 drill program at its Loki Flake Graphite Deposit (Loki Deposit) at its 100%-owned Key Lake South (KLS) Project (Figure 1, Figure 2). The drill program focused on expanding on the initial 11.31 Mt inferred flake graphite resource at 7.65 % Cg1. A total of 5,925 m over 23 holes were completed. This included one hole (KLS-24-072) at the Thor Zone, which successfully intersected three intervals of graphite mineralization. The primary interval measured a total length of 40 m with an average grade of 8.57%.

(Assay results for the hole were previously released on August 25, 2025). Drilling completed at the Loki Deposit extended the inferred-spaced drilling along strike by 300 m toward the northwest and 400 m toward the southeast (Figure 3). Locations and orientations of drillholes included in this release are listed in Table 1 and their assay results are shown in Table 2. Assay Highlights KLS-25-058: 30.00 m at 10.64 % Cg, including 10.0 m at 13.77 % Cg KLS-25-060: 34.00 m at 9.02 % Cg, including 9.0 m at 12.18 % Cg KLS-25-066: 26.00 m at 8.53 % Cg, including 7.0 m at 12.33 % Cg KLS

-25-057: 24.85 m at 8.49 % Cg, including 5.85 m at 12.49 % Cg KLS-25-053: 20.35 m at 8.12 % Cg, including 8.0 m at 11.71 % Cg KLS-25-055: 20.10 m at 9.37 % Cg, including 7.0 m at 13.03 % Cg KLS-25-055: 19.70 m at 10.44 % Cg, including 6.0 m at 15.52 % Cg Brian McEwan, Vice-President of Exploration commented "The Loki Deposit continues to provide consistent graphite intercepts along strike toward the southeast. We are very pleased with these high-grade zones from our winter program which will add to our initial mineral resource released earlier this year. With each expansion program, we continue to add to our geologic understanding of the Loki Deposit.

We look forward to advancing the Loki Deposit toward the next stages of development." Collected samples were sent to SRC Geoanalytical Laboratories in Saskatoon, Saskatchewan, an independent laboratory accredited under ISO/IEC 17025:2017 for preparation and ICP-MS multi-element analysis, boron by fusion as well as graphite content (% Cg) and total sulphur by LECO. Samples were collected in accordance with industry-standard quality assurance / quality control practices and included the insertion of blanks, standard reference materials, and repeats into the sample stream at regular intervals.

Samples were also collected for in-field and lab density measurements at regular intervals and through the mineralized zones. Story Continues For more information on the Loki Flake Graphite Deposit and an overview of the Key Lake South Project, please visit the Company's website at https://www.abasca.ca. Abasca Resources Inc. Figure 1: Map of the Key Lake South Project area showing the location of the Loki Flake Graphite Deposit and other exploration target areas. Figure 2: Map of the area around the Loki Flake Graphite Deposit area showing the 2016, 2024, and winter 2025 drilling.

Figure 3: Oblique view of the Loki Flake Graphite Deposit, showing the location of the mineralized flake graphite zones from the winter 2025 drill program in relation to the pit-constrained inferred resource and the 2016 and 2024 drill results. Table 1: Locations and orientations of drillholes included in this release. Coordinates are in UTM NAD 83 Zone 13N and all lengths are measured in metres. Drillhole ID Easting Northing Elevation Azimuth Inclination Length KLS-25-053 445815 6330186 558 35 -60 197 KLS-25-054 445757 6330108 556 35 -60 247 KLS-25-055 445701 633

0028 551 35 -60 284 KLS-25-056 445897 6330133 550 35 -60 233 KLS-25-057 445844 6330061 550 35 -60 230 KLS-25-058 445782 6329968 548 35 -60 296 KLS-25-059 445981 6330077 551 35 -60 165 KLS-25-060 445868 6329920 544 35 -60 315 KLS-25-061 445920 6329995 544 35 -60 222 KLS-25-062 445940 6329859 543 35 -60 261 KLS-25-063 445185 6330509 547 35 -60 171 KLS-25-064 445126 6330427 548 35 -60 289 KLS-25-065 445068 6330343 549 35 -60 403 KLS-25-066 445106 6330570 542 35 -60 187 KLS-25-067 445048 6330485 545 3

5 -60 272 KLS-25-068 444990 6330404 545 35 -60 394 KLS-25-069 444966 6330542 552 35 -60 291 KLS-25-070 445018 6330624 549 35 -60 227 KLS-25-071 445078 6330710 552 35 -60 171 KLS-25-073 445749 6330602 553 215 -60 248 KLS-25-074 446060 6330015 546 35 -60 172 KLS-25-075 446000 6329937 542 35 -60 221 Table 2: Drillholes and their composited graphite intersections. All lengths are as measured downhole and do not represent true thickness. Composite intervals are calculated using a 3.0 % Cg cut-off and may include a maximum of 2.0 m internal dilution.

Drillhole ID From To Length Cg % S % KLS-25-053 116.05 136.40 20.35 8.12 0.88 Including 117.00 125.00 8.00 11.71 KLS-25-054 155.00 156.50 1.50 3.13 0.59 171.20 191.30 20.10 9.37 1.37 Including 172.00 174.00 2.00 11.00 176.00 183.00 7.00 13.03 188.00 189.00 1.00 10.80 KLS-25-055 42.00 43.00 1.00 3.88 0.66 214.80 234.50 19.70 10.44 1.73 Including 214.80 216.00 1.20 10.63 219.00 225.00 6.00 15.52 227.00 229.00 2.00 12.35 230.00 231.00 1.00 13.10 KLS-25-056 92.35 115.00 22.65 6.43 0.76 Including

107.00 109.00 2.00 11.80 KLS-25-057 143.15 168.00 24.85 8.49 1.70 Including 143.15 149.00 5.85 12.49 161.00 162.00 1.00 10.60 165.00 166.00 1.00 12.80 KLS-25-058 213.00 243.00 30.00 10.64 2.11 Including 213.00 215.00 2.00 12.00 220.00 222.00 2.00 12.05 225.00 235.00 10.00 13.77 236.00 237.00 1.00 10.60 238.00 239.00 1.00 13.50 KLS-25-059 83.85 103.00 19.15 7.06 0.76 Including 83.85 84.00 0.15 11.00 93.00 94.00 1.00 10.40 98.00 100.00 2.00 11.10 KLS-25-060 165.00 170.00 5.00 10.16 1.59 181

.00 215.00 34.00 9.02 1.77 Including 184.00 185.00 1.00 12.10 198.00 200.00 2.00 10.80 201.00 205.00 4.00 12.33 206.00 215.00 9.00 12.18 KLS-25-061 149.65 177.00 27.35 9.69 1.67 Including 150.50 151.00 0.50 10.00 159.00 165.00 6.00 12.12 166.00 174.00 8.00 13.01 KLS-25-062 189.50 190.50 1.00 10.20 1.22 199.00 207.00 8.00 5.50 1.03 210.00 222.00 12.00 9.05 1.83 Including 211.00 216.00 5.00 13.18 KLS-25-063 83.00 111.00 28.00 7.72 1.07 Including 83.00 85.00 2.00 12.36 94.00 99.00 5.00 15.35

109.00 110.00 1.00 12.17 114.00 130.00 16.00 9.17 1.37 Including 116.00 117.00 1.00 11.19 118.00 119.00 1.00 12.05 122.00 125.00 3.00 12.12 126.00 129.00 3.00 12.04 KLS-25-064 143.00 149.00 6.00 3.06 0.48 210.00 211.00 1.00 6.80 1.17 227.00 234.00 7.00 10.31 1.59 Including 227.00 232.00 5.00 12.13 237.00 239.00 2.00 12.48 1.40 KLS-25-065 334.00 335.00 1.00 5.91 1.39 KLS-25-066 107.00 133.00 26.00 8.53 0.91 Including 111.00 112.00 1.00 12.04 113.00 120.00 7.00 12.33 122.00 124.00 2.00 12.06

132.00 133.00 1.00 10.75 KLS-25-067 207.50 215.00 7.50 3.45 1.14 230.00 234.60 4.60 8.58 1.55 Including 231.00 232.00 1.00 11.00 233.00 234.00 1.00 10.90 KLS-25-068 307.00 308.00 1.00 3.02 < 0.01 317.40 320.00 2.60 4.10 1.35 345.00 348.70 3.70 8.16 1.45 Including 346.00 347.00 1.00 10.60 KLS-25-069 No significant intersections KLS-25-070 149.00 157.50 8.50 9.71 1.47 Including 149.00 150.00 1.00 12.10 152.00 154.00 2.00 11.25 KLS-25-071 No significant intersections KLS-25-073 No significant intersect

ions KLS-25-074 59.00 66.00 7.00 5.57 0.19 Including 61.00 62.00 1.00 12.05 69.00 71.00 2.00 4.73 0.08 77.00 83.00 6.00 7.92 0.18 78.00 80.00 2.00 12.50 KLS-25-075 121.00 151.00 30.00 7.04 0.92 Including 124.00 125.50 1.50 12.03 131.00 132.00 1.00 12.40 140.00 147.00 7.00 12.64 [1] Please refer to the technical report dated May 29, 2025, with an effective date of April 10, 2025 and titled "Technical Report on the Key Lake South Project with Initial Mineral Resource Estimate for the Loki Flake Graphite Deposit, Saskatchewan, Canada" filed under the Company's profile on the SEDAR+ website for further information about the resource estimate.

Qualified Person The technical information in this news release has been reviewed and approved by Brian McEwan, P.Geo, a Qualified Person as set out in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. McEwan is the Vice-President of Exploration at Abasca. About Abasca Resources Inc. Abasca is a mineral exploration company that is primarily engaged in the acquisition and evaluation of mineral exploration properties. The Company owns the Key Lake South Project (KLS), a 23,977-hectare exploration project located in the Athabasca Basin Region in northern Saskatchewan, approximately 15 km south of the former Key Lake mine and current Key Lake mill.

The project possesses geological similarities and along strike of past Key Lake Mine with prospective conductors of over 50 km for potential uranium mineralization. KLS is also host to the Loki Flake Graphite Deposit comprising a total inferred resource of 11.31 Mt at 7.65 % Cg. Please refer to the technical report dated May 29, 2025, with an effective date of April 10, 2025 and titled "Technical Report on the Key Lake South Project with Initial Mineral Resource Estimate for the Loki Flake Graphite Deposit, Saskatchewan, Canada" filed under the Company's profile on the SEDAR+ website for further information about the resource estimate.

On behalf of Abasca Resources Inc. Dawn Zhou, M.Sc, CPAPresident, CEO and Director For more information visit the Company's website at https://www.abasca.ca or contact: Abasca Resources Inc.Email: info@abasca.caTelephone: +1 (306) 933 4261 Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release. Forward-Looking Statements This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions.

Forward-looking information reflects management's current beliefs with respect to future events and is based on information currently available to management. Forward-looking information contained in this press release includes, but is not limited to, statements relating to the mineral resource estimate for the Loki Deposit, the high grade zones identified in the winter program adding to the mineral resource estimate and the advancement of the Loki Deposit towards the next stages of development. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements.

Abasca undertakes no obligation to comment on analyses, expectations, or statements made by third parties in respect of Abasca, its securities, or financial or operating results (as applicable). Although Abasca believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors, and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks, uncertainties and factors, certain of which are beyond Abasca's control, including the impact of

general business and economic conditions; risks related the exploration activities to be conducted on KLS, including risks related to government and environmental regulation; actual results of exploration activities; industry conditions, including uranium and graphite price fluctuations, interest and exchange rate fluctuations; the influence of macroeconomic developments; business opportunities that become available or are pursued; title, permit or license disputes related to KLS; litigation; fluctuations in interest rates; and other factors. In addition, the forward-looking information is based on several assumptions which may prove to be incorrect, including, but not limited to, assumptions about the availability of qualified employees and contractors for the Company's operations and the availability of equipment.

The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. Abasca disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. SOURCE: Abasca Resources Inc. View the original press release on ACCESS Newswire