VANCOUVER, British Columbia, Nov. 06, 2017 (GLOBE NEWSWIRE) -- Abacus Mining & Exploration Corporation (“Abacus”
or the “Company”) (TSXV:AME) is pleased to announce an addition to its management team. Mr. Paul G. Anderson, M.Sc., P.Geo.,
has been appointed by the Board of Directors as President and COO effective immediately, while Mr. Michael McInnis, P.Eng., becomes
Executive Chairman of the Company, having resigned as Chairman, President and CEO.
Mr. McInnis will continue to be actively involved in Abacus’s core operating and strategic processes including
financing and market strategies and communication. Mr. Anderson will manage all day-to-day operations of the Company, and will
actively participate in financing and marketing efforts.
These changes are a direct result of the increasing level of activity of the Company, with an imminent decision
expected on the coordinated Provincial and Federal Environmental Assessment process for the Ajax copper-gold Project near Kamloops,
B.C. (see News Release dated October 23, 2017), as well as the active Willow porphyry copper exploration project near
Yerington, Nevada (see News Release dated October 30, 2017).
Mr. Anderson commented, “I am pleased to be invited by Mike and the Board to take an executive role at this
juncture of the Company’s development, especially with a strengthening copper market and the upcoming Ajax decision. Mike and I
worked closely together at Riverstone Resources, where we led a team that discovered and developed the Karma gold deposit in
Burkina Faso. Karma went into production in 2016, and is currently owned by Endeavour Mining. More recently, I have
been working with Mike to identify new copper opportunities for Abacus, culminating in the acquisition of the Willow
project.”
Michael McInnis stated “I am very pleased to welcome Paul to Abacus’s management team. Paul and I have
worked together successfully in the past, and I am confident that Paul’s technical skill set will contribute to the future success
of Abacus”.
For further information, please contact Investor Relations at (604) 682-0301.
On Behalf of the Board,
ABACUS MINING & EXPLORATION CORPORATION
| Paul Anderson |
|
|
Michael McInnis |
| President & COO |
|
|
Executive Chairman |
About Abacus
Abacus is a mineral exploration and mine development company with a 20% interest in the Ajax Project located at the historic
Ajax-Afton site southwest of Kamloops, B.C., and an option to acquire up to a 75% undivided interest in the Willow porphyry
copper-gold property in Nevada. The Willow Project is located in a district that hosts a number of porphyry copper deposits
including the Ann Mason and Yerington deposits. The Ajax Project is a proposed copper-gold open-pit mine currently undergoing a
provincial and federal environmental assessment process. Through KGHM Ajax Mining Inc., a joint venture company between Abacus
(20%) and KGHM Polska Miedz S.A. (KGHM) (80%), the Ajax Mine is being funded in large part by KGHM and operated by its wholly-owned
subsidiary, KGHM International Ltd. For the latest reports and information on Abacus’ projects, please refer to the Company’s
website at www.amemining.com.
Forward-Looking Information
This release includes certain statements that are deemed “forward-looking statements”. All statements in this release,
other than statements of historical facts, that address events or developments that Abacus expects to occur, are forward-looking
statements. Forward- looking statements are statements that are not historical facts and are generally, but not always, identified
by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar
expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the
expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees
of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could
cause the actual results to differ materially from those in forward-looking statements include changes to commodity prices, mine
and metallurgical recovery, operating and capital costs, foreign exchange rates, ability to obtain required permits on a timely
basis, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or
business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results
or developments may differ materially from those projected in the forward-looking statements. Forward- looking statements are based
on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by
applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that
management's beliefs, estimates or opinions, or other factors, should change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Suite 1000-1050 West Pender Street
Vancouver, B.C. V6E 3S7 Canada
Tel: 604.682.0301 Fax: 604.682.0307
email: info@amemining.com
website: www.amemining.com
