9169601 CANADA INC. PARTICIPATES IN ABASCA RESOURCES INC. PRIVATE PLACEMENT

SASKATOON, SK, July 31, 2023 /CNW/ - 9169601 Canada Inc. (the "Subscriber"), having a head office address at 2102-88 4^th Avenue SW, Calgary, Alberta T2P 0V2, and which is incorporated under the Canada Business Corporations Act, announces that in connection with the closing of a non-brokered private placement (the "Private Placement") by Abasca Resources Inc. ("Abasca") (TSXV: ABA), #208 – 211 4^th Avenue North, Saskatoon, Saskatchewan, S7K 2L8, on July 28, 2023, it acquired 2,860,000 units of Abasca (the "Units") at a subscription price of $0.25 per Unit for a total subscription price of $715,000. Each Unit is comprised of one flow-through common share of Abasca (an "Abasca Common Share"), and one half of one common share purchase warrant of Abasca (each whole warrant, a "Unit Warrant"). Each Unit Warrant entitles the Subscriber to purchase one non-flow-through Abasca Common Share at a price of $0.30 per share for a period of 24 months.