Abitibi Closes Bought Deal Public Offering of Common Shares and Flow-Through Shares

In connection with the Offering, the Company issued an aggregate of 33,327,000 common shares of the Company (the "Common Shares") for aggregate gross proceeds of $16,104,600, including the exercise in full of the over-allotment option granted to the Underwriters. The Offering was comprised of the issuance of (i) 13,144,500 hard-dollar Common Shares (the "Offered Common Shares") at a price of $0.35 per Offered Common Share for gross proceeds of $4,600,575, and (ii) 20,182,500 Common Shares issued as "flow-through shares" (the "Flow-Through Shares" and, together with the Offered Common Shares, the "Offered Securities") at a price of $0.57 per Flow-Through Share for gross proceeds of $11,504,025.

The gross proceeds from the issue and sale of the Flow-Through Shares will be used to incur exploration expenses as described below for the continued advancement of the Company's B26 Polymetallic Deposit. The net proceeds from the Offered Common Shares will be used for general corporate purposes.

Each Flow-Through Share will qualify as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada) and, in respect of eligible Québec resident subscribers, section 359.1 of the Taxation Act (Québec). The gross proceeds from the issue and sale of the Flow-Through Shares will be used to incur exploration expenses that qualify as "Canadian exploration expenses" as defined in subsection 66.1(6) of the Income Tax Act (Canada) and, in respect of eligible Québec resident subscribers, subsection 395(c) of the Taxation Act (Québec), and "flow-through critical mineral mining expenditures" as defined in subsection 127(9) of the Income Tax Act (Canada) for purposes of the critical mineral exploration tax credit. Such expenses will be incurred on or before December 31, 2026, and renounced to the initial subscribers of the Flow-Through Shares with an effective date no later than December 31, 2025.

The Offering was completed pursuant to an underwriting agreement dated December 1, 2025 between the Company and the Underwriters. In consideration for the services provided by the Underwriters in connection with the Offering, the Company paid the Underwriters a cash commission equal to 6.0% of the total gross proceeds raised under the Offering (which, for the avoidance of doubt, was paid from the proceeds received by the Company from the sale of Offered Common Shares).

The Offered Securities were offered in all provinces of Canada pursuant to a short form prospectus dated December 8, 2025. The Offered Securities were also sold to U.S. purchasers on a private placement basis pursuant to an exemption from the registration requirements in Rule 144A of the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and in certain jurisdictions other than Canada and the United States, in each case, in compliance with applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities nor shall any sale of securities occur in any jurisdiction, including the United States, in which such offer, solicitation or sale is unlawful. The Offered Securities have not been and will not be registered under the U.S. Securities Act or any securities laws of any state of the United States and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable securities laws of any state of the United States, or unless an exemption from such registration requirements is available.

On behalf of the Board of Abitibi Metals Corp.

"Jonathon Deluce"

President & CEO, Director

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.

For more information, please contact Jon Deluce (President & CEO, Director) at 226-271-5170, email info@abitibimetals.com, or visit https://www.abitibimetals.com.

Cautionary Notes and Forward-Looking Statements

This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of the words "will" and "expected" and similar expressions are intended to identify forward-looking statements. These statements include statements regarding the ability to incur and renounce eligible flow-through expenditures, the exploration and development potential of the Company's properties; the significance of previous exploration results; and the anticipated use of proceeds of the Offering. Although Abitibi believes that the expectations reflected in such forward-looking statements and/or information are reasonable, readers are cautioned that actual results may vary from the forward-looking statements. The Company has based these forward-looking statements and information on the Company's current expectations and assumptions about future events. These statements also involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company's annual information form, for the year ended June 30, 2025 available at www.sedarplus.ca under the Company's issuer profile. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Abitibi does not undertake any obligation to publicly update or revise any of these forward-looking statements except as may be required by applicable securities laws.

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