Mr. Paul Anderson reports

ABACUS COMPLETES ITS NON-BROKERED PRIVATE PLACEMENT

Abacus Mining & Exploration Corp. has closed its non-brokered private placement of units, as announced on Dec. 8, 2025, Jan. 6, 2026, and Jan. 12, 2026, pursuant to which the company raised total gross proceed of $371,250 and issued 14.85 million units at a price of 2.5 cents per unit. Each unit consists of one common share of the company and one-half of one common share purchase warrant. with each full warrant exercisable to purchase one share at a price of five cents per share until Jan. 19, 2029.

All securities issued in connection with the private placement are subject to a statutory four-month hold period expiring May 20, 2026, and the private placement is subject to final acceptance by the TSX Venture Exchange.

The private placement was offered to existing shareholders of Abacus who were permitted to subscribe pursuant to British Columbia Instrument 45-534, Exemption from Prospectus Requirements for Certain Trades to Existing Security Holders, as well as under other available prospectus exemptions.

Proceeds from the private placement will be applied toward the company's general working capital.

The company has a 100-per-cent interest in the Willow copper-molybdenum property, and it holds a lease on the adjacent Nev-Lorraine copper-molybdenum property near Yerington, Nev., as well as a 20-per-cent interest carried to production in the advanced Ajax copper-gold development project in British Columbia. Investors are referred to the company's website for the latest news and project descriptions.

Certain insiders of the company have acquired securities under the private placement. Any such participation is considered to be a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The private placement is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the company is listed on the TSX-V and neither the fair market value of securities issued to related parties nor the consideration paid by related parties exceeds 25 per cent of the company's market capitalization. The company will file a material change report in respect of the private placement. However, the material change report may be filed less than 21 days prior to the closing of the private placement, which is consistent with market practice and the company deems reasonable in the circumstances.

About Abacus Mining & Exploration Corp.

Abacus is a mineral exploration and mine development company currently focused on copper and gold in British Columbia and Nevada. The company's main asset is a 20-per-cent ownership interest, together with KGHM Polska Mied SA (80 per cent), in the proposed copper-gold Ajax mine, located southwest of Kamloops, B.C., which has undergone a joint provincial and federal environmental assessment process. On Dec. 14, 2017, a decision was made by the British Columbia Minister of Environment and Climate Change Strategy and the Minister of Energy, Mines and Petroleum Resources to decline to issue an environmental assessment certificate for the project. KGHM has recently reopened an office in Kamloops, B.C., to facilitate first nation, community and governmental engagement in order to advance the project toward a potential resubmission of the environmental application.

Abacus also owns a 100-per-cent interest in the Willow copper-gold property located near Yerington, Nev., and it controls the contiguous Nev-Lorraine claims subject to a 10-year lease agreement.

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