Toronto, Ontario--(Newsfile Corp. - July 8, 2026) - Abitibi Metals Corp. (CSE: AMQ) (OTCQB: AMQFF) ("Abitibi" or the "Company") is pleased to announce the appointment of Keith Gorman, CPA as Chief Financial Officer of the Company, effective immediately.

Mr. Gorman brings extensive financial leadership experience across the mining sector to Abitibi at a pivotal stage in the Company's growth. He joins the Company from Foran Mining Corporation, where he was the Director of Financial Planning and Analysis. Prior to that, he held progressively senior roles across corporate and operational finance at Kirkland Lake Gold Ltd and at Alamos Gold's Young Davidson Mine. His background spans corporate finance, strategic planning, financial reporting and the operational demands of advancing mineral projects toward development.

As Chief Financial Officer, Mr. Gorman will lead the Company's finance function and play a central role in supporting Abitibi's strategy as it advances the flagship B26 Polymetallic Project and pursues district-scale consolidation across the Selbaie Camp.

The Company also extends its sincere thanks to Eric Myung, who has served as Chief Financial Officer since Abitibi became a public company and who will continue with the Company in a consulting role.

"We are delighted to welcome Keith to the Abitibi team," said Jonathon Deluce, CEO of Abitibi Metals. "His time at Foran Mining, one of the standout growth stories in base and precious metals development, combined with his strong experience in operational finance gives him a rare view across the full project lifecycle, from exploration through to production discipline. That perspective will be invaluable as we advance B26 and pursue consolidation across the Selbaie Camp."

Keith Gorman, CFO commented: "I am excited to be joining Abitibi Metals as it continues to advance its' B26 Project and look forward to contributing to the development of a disciplined, scalable finance platform in support of the Company's strategic objectives and continued growth."

In accordance with the Company's omnibus incentive plan, it has granted 200,000 incentive stock options (the "Options") to Mr. Gorman. The Options are exercisable at $0.65 per share for a period of five years. In addition, the Company has granted Mr. Gorman 200,000 restricted share units (the "RSUs"), which will vest in line with the Company's policy.

Operations Update: Temporary Suspension of Activities at B26 Due to Quebec Forest Fire Risk

Abitibi also announces that it has temporarily suspended all drilling and field exploration activities at its B26 Project and safely evacuated all site personnel and contractors following an evacuation order issued by SOPFEU (Société de protection des forêts contre le feu) and Quebec's Ministère des Ressources naturelles et des Forêts, due to increasing wildland fire danger in the area.

"We look forward to returning to site as soon as we are able. In the meantime, the safety of our employees and contractors is our top priority. I appreciate the hard work of all the Abitibi team members who ensured a safe evacuation from site. We continue to monitor conditions closely and will provide an update when we are able to resume."

To date, no damage to the Company's camp, equipment or infrastructure at B26 has been reported. The temporary suspension is not expected to have a material impact on the Company's overall project timeline, and Abitibi will provide further updates as warranted.

Information pertaining to the status of the forest fires in Quebec can be found at: https://www.sopfeu.qc.ca/en/current-situation/.

About Abitibi Metals Corp:

Abitibi Metals Corp. is dedicated to acquiring and exploring mineral properties within Quebec, with a particular emphasis on high-quality base and precious metal assets that offer significant potential for growth and expansion.

The company's flagship B26 Polymetallic project hosts a substantial and growing resource base:

• Indicated: 12.96Mt at 2.08% CuEq (1.19% Cu, 1.16% Zn, 0.44 g/t Au and 30.8 g/t Ag)
• Inferred: 12.34Mt at 2.20% CuEq (1.60% Cu, 0.16% Zn, 0.68 g/t Au and 8.1 g/t Ag).

The B26 project is strategically located just 7 km southeast of the formerly producing Selbaie Mine. This proximity provides the project with access to key infrastructure required for potential mine development. In addition to the B26 Deposit, Abitibi's portfolio includes the Beschefer Gold project.

ON BEHALF OF THE BOARD

Jonathon Deluce, Chief Executive Officer

Twitter: https://twitter.com/AbitibiMetals

LinkedIn: https://www.linkedin.com/company/abitibi-metals-corp-amq-c/

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Note 1: Technical Report NI 43-101 Resource Estimation Update Project B26, Quebec, For Abitibi Metals Corp., By SGS Canada Inc., Yann Camus, ing., SGS Canada - Geostat., Effective Date: November 2025, Date of Report: January, 2026

Forward-looking statement:

This news release contains certain statements, which may constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information involves statements that are not based on historical information but rather relate to future operations, strategies, financial results or other developments. Forward-looking information is necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control and many of which, regarding future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward-looking statements made by or on the Company's behalf. Although Abitibi has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. All factors should be considered carefully, and readers should not place undue reliance on Abitibi's forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects," "estimates," "anticipates," or variations of such words and phrases (including negative and grammatical variations) or statements that certain actions, events or results "may," "could," "might" or "occur."

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304382

Source: Abitibi Metals Corp.