ASSOCIATE OF DAWN ZHOU PARTICIPATES IN ABASCA RESOURCES INC. PRIVATE PLACEMENT

SASKATOON, SK, June 22, 2023 /CNW/ - Dawn Zhou ("Ms. Zhou"), 2102-88 4^th Avenue SW, Calgary, Alberta T2P 0V2, announces that in connection with the closing of a non-brokered private placement (the "Private Placement") by Abasca Resources Inc. ("Abasca") (TSXV:ABA.VN), #208 – 211 4^th Avenue North, Saskatoon, Saskatchewan, S7K 2L8, on June 21, 2023, 9169601 Canada Inc. (the "Subscriber"), having an address at 2102-88 4^th Avenue SW, Calgary, Alberta T2P 0V2, acquired 2,000,000 units of Abasca (the "Units") at a subscription price of $0.50 per Unit for a total subscription price of $1,000,000. 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 $0.60 per share for a period of 24 months.