VANCOUVER, British Columbia, Feb. 28, 2018 (GLOBE NEWSWIRE) -- Abacus Mining & Exploration Corporation (“Abacus”
or the “Company”) (TSX-V:AME) is pleased to announce a non-brokered private placement for proceeds of up to $1,200,000 through the
issuance of 6,000,000 units ("Units") at a price of $0.20 per Unit. Each Unit will consist of one common share of the Company (a
“Unit Share”) and one non-transferable common share purchase warrant, with each warrant exercisable to purchase one common share of
the Company at a price of $0.30 per common share for a period of 3 years from the date of closing of the financing.
The financing is subject to TSX Venture Exchange (TSXV) approval. No finder's fees are payable on the financing,
and all securities issued will be subject to a four month hold period under Canadian securities law.
Proceeds from the financing will be applied towards the drill program at the Company’s Willow project in Nevada,
and general working capital and corporate purposes.
An updated corporate presentation detailing the new drill target on the Willow porphyry copper project is now
available on the Company’s website.
For further information, please contact Investor Relations at (604) 682-0301.
On Behalf of the Board,
ABACUS MINING & EXPLORATION CORPORATION
Paul G. Anderson
President and COO
About Abacus
Abacus is a mineral exploration and mine development company currently focused on its optioned Willow copper-gold
property located near Yerington, Nevada in which it can acquire up to a 75% ownership interest, and the contiguous Nev-Lorraine
claims subject to a ten year lease agreement. The Company also holds a 20% ownership interest, together with KGHM Polska Miedz S.A.
(80%), in the proposed copper-gold Ajax Mine located southwest of Kamloops, B.C., which has recently undergone a joint provincial
and federal environmental assessment process. The Ajax project awaits a final decision from the Federal Cabinet on whether the
project can proceed. On December 14, 2017, a decision was made by the B.C. Minister of Environment and Climate Change Strategy and
Minister of Energy, Mines and Petroleum resources to decline to issue an environmental assessment certificate for the Project. 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.
email: info@amemining.com