Mr. Paul Anderson reports

ABACUS ANNOUNCES NEW ADDITION TO BOARD OF DIRECTORS

Abacus Mining & Exploration Corp. has appointed Dr. Adrian King to its board of directors. Dr. King has been an adviser to the board and management of Abacus since late 2020 and is thus very familiar with the company.

Dr. King retired in 2020 as head of global exploration after 35 years with Teck Resources, where he spent extended periods in exploration and exploration management based in London, Brussels, Santiago, Spokane and Vancouver. He held roles with increasing responsibility covering projects of all stages from generative through to evaluations, commercial and resource-reserve definition (greenfield and brownfield), working together with teams on multiple continents. He was involved in several discoveries, notably in Greenland, Turkey (Biga peninsular) and Alaska (Red Dog camp). Dr. King holds a BSc and PhD from the Royal School of Mines, Imperial College, London, United Kingdom, and has authored and co-authored several scientific papers.

"I am very pleased that Adrian has consented to formally join our board," commented Paul G. Anderson, president and chief executive officer of Abacus. "I have known Adrian for many years, and he possesses a unique skillset as an exploration geologist. His advice has been invaluable as an adviser over the past few years, and I look forward to our continuing collaboration."

The company currently has interests in two significant porphyry copper projects. The Ajax copper-gold joint venture, located near Kamloops, B.C., is a partnership between Abacus and base metal major KGHM Polska Miedz S.A. Abacus holds a 20-per-cent interest in Ajax, carried through to production, with KGHM holding the remainder and acting as operator on the project.

The Ajax project contains significant quantities of copper and gold, within a National Instrument 43-101 proven and probable mineral reserve of 426 Mt (million tonnes) at 0.29 per cent Cu (copper), 0.19 gram per tonne Au (gold) and 0.39 g/t Ag (silver). Contained metal is in the order of 2.7 billion pounds Cu, 2.6 million oz Au and 5.3 million oz Ag. The 2016 feasibility study used metal prices of $3.21 (U.S.)/lb Cu, $1,200 (U.S.)/ounce Au and $17 (U.S.)/oz Ag, which are significantly lower than current prices.

In addition to Ajax, the company in 2024 fully acquired the Willow porphyry copper-molybdenum property in Yerington, Nev., after working the property since 2017 under an option agreement. It also holds a lease on the contiguous Nev-Lorraine copper-molybdenum property near Yerington, Nev. Drilling to date by the company has identified a fifth Cu-Mo porphyry in the camp, the first new porphyry discovered in decades in Yerington, which requires further drilling to fully evaluate.

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 Miedz (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 B.C. 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 continues to work 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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