Abacus Mining & Exploration is a Vancouver-based mining company publicly traded on the TSX Venture Exchange. The Company's corporate strategy is to focus on areas of historic production and employ modern day exploration technology and techniques to maximize a property's potential. It is a team of industry-seasoned professionals backed with expertise in mining, exploration, project management, and corporate finance that has over 130 combined years of experience.

The main focus of the company is in the redevelopment of the Afton Mining camp located in South Central British Columbia. The Afton Mining camp was acquired from Teck-Cominco and includes 3 past producing mines and numerous copper-gold occurrences in a land package of over 8000 hectares. In 2005 Abacus acquired much of the existing infrastructure from Teck-Cominco including tailings pond, mill and shop buildings, water rights and access rights. An independent engineering company valued this infrastructure at over $38 million. Abacus has now completed over 160,000 m of diamond drilling and has completed 43-101 compliant resources on the Afton-Ajax E-W Deposit. Abacus released an NI 43-101 compliant technical report in March, 2009 and is moving the project towards a feasibility report sometime in the latter part of 2009.

Overview

After a series of successful drill programs on the Ajax property, Abacus has retained the services of engineering, geological and environmental consultants to advance the project to its first phase of development, which includes resource estimation and preliminary economic assessment work. Over the next six months, Abacus' goal is to define an economically viable deposit capable of processing 60,000 tonnes of ore per day.

Highlights:

• Eight crown grants 100% owned by Abacus encompass the past producing Ajax East and Ajax West pits
• Existing infrastructure including mill buildings, shop facilities, tailings area, haul road, water rights and related permits
• Over 160,000 metres of drilling completed for the initial Ajax area resource with plans to complete a preliminary economic assessment

The Ajax property comprises eight 100%-owned Crown grants which include the historic Ajax East and West pits. Also included is an interest in claims between the pits acquired as a result of a joint-venture agreement signed with New Gold Inc. The Ajax area lies nine kilometres southeast along an existing haul road from the Afton mill, shop facilities and tailings area which Abacus agreed to purchase along with the water rights in 2005 from Teck-Cominco.

Ajax Deposit

Resources on the Ajax area were calculated in late 2008, based on drilling completed by Abacus from 2005 to 2008, and historic drilling completed by Teck Cominco Ltd. A total of 365 million tonnes grading 0.312% copper and 0.195 g/t gold using a 0.20% copper equivalent cut-off has been estimated containing over 2.5 billion pounds of copper and almost 2.3 million ounces of gold in measured and indicated categories. Over 54% of the resource reported is contained in the measured category (1,365,000,000 pounds copper and 1,232,700 ounces gold).

The resource coupled with the infrastructure purchased from Teck Cominco Ltd. in 2005 will allow Abacus to continue to move forward quickly in the Afton camp. The infrastructure purchased includes tailings impoundment, water rights, mill and shop buildings, rights of way and surface rights.

Rainbow Zone

The Rainbow zone is a copper gold resource favourably situated 3.5 kilometres southeast of the past-producing Afton mill site, along the same structural trend that hosts the previously mined Afton, Pothook, and Ajax ore bodies. The resource calculated on the Rainbow zone has a current strike length of 500 metres, a thickness range of 50-150 metres, and a steep southwest dip that has been traced for up to 500 metres below surface. The geometry of the resource is roughly tabular with an east-west to east southeast orientation. There is excellent potential for expansion, along strike, down dip and at depth.

A 3D-IP geophysical survey completed in 2003 demonstrates good correlation with the known mineralization, and extends virtually untested 400 metres northwest of the Rainbow resource model.

DM Zone

The western end of the DM-Audra-Crescent zone lies 1.5 kilometres east of the Afton pit and forms a 1.5 kilometre mineralized trend eastwards toward the junction of the Trans Canada Highway and the Coquihalla Highway. This mineralized trend lies within a 5 kilometre long structural corridor that extends from the Afton Deposit eastwards to the Big Onion deposit, near the Iron Mask industrial area. In the DM-Audra-Crescent area, this structural zone occurs mainly as a strong gouge-rich fault which has a well-developed fabric. This fault zone separates the mineralized Cherry Creek monzonite intrusive phase on the north from the older Pothook phase to the south. In 2004, Abacus completed its first diamond drill program on the DM-Audra-Crescent trend. Over 11,300 metres of diamond drilling was completed and was successful in establishing continuity of mineralization between the DM and Audra zones. Drilling highlights in 2004 include drill hole DA-04-006 grading 0.42% copper, 0.26 g/t gold, and 0.08 palladium over 308.9 metres. Copper-gold mineralization at the DM-Audra Zone outcrops at surface, and varies from 20 metres to over 200 metres in thickness, at least 300 metres in depth along a strike length of over 1200 metres. The zone appears to dip steeply to the south.

DM/Audra and Rainbow Summaries

Abacus announced their first two NI 43-101 compliant resources (DM-Audra and Rainbow deposits) in the Afton area in 2004. These resources remain open along strike to the west and down dip. Drilling this year is planned to expand the current resources, and to upgrade the resources to the reserve category. The Company added 19 drill holes totaling 7,158 metres at the Audra Deposit in 2006. Highlights of this drilling include DA 06-039 with 69 metres of 0.67% Cu and 0.35 g/t Au and DA06-054 with 132 metres of 0.42% Cu and 0.33 g/t Au.

Douglas Fulcher, President and CEO

Mr. Fulcher has held numerous positions during a successful thirty years in mineral exploration. He has sat on several boards including Redstar Gold Corp., Skygold Ventures Ltd., and Niblack Mining Corp. and has developed an extensive relationship with both institutional and retail investors. Mr. Fulcher has also worked as a consulting geological contractor with expertise in logistics and capital markets for several major and junior mining companies in North America and overseas. Mr. Fulcher's main responsibility is for the management of the Company's activities.

Andrew Pooler, Executive Vice President and Chief Operating Officer

Mr. Pooler has more than 20 years of experience as a mining engineer and operations executive working in North, Central and South America. For the last five years, Andrew has been senior vice-president, mine operations, for Pan American Silver Corp. Pan American Silver has six producing properties and two under development. Prior to Pan American Silver, Andrew held executive positions with several mining companies, including vice-president of operations at Amax Gold. Andrew holds a Bachelor of Science degree in mining engineering from the University of Idaho and will oversee the development, construction and eventual operations at Abacus's Afton-Ajax project.

Paddy Nicol, Senior Vice President and Chief Financial Officer

Mr. Nicol has over 15 years experience in public company management while serving on the boards of Abacus Mining Corp, Redstar Gold Corp., Niblack Mining Corp., and Cobre Exploration Ltd. Most recently Paddy was the President and CEO of Niblack Mining Corp. which successfully merged with Committee Bay Resources in 2008. During his tenure, Paddy developed an extensive network of contacts throughout the institutional and retail investment community. Paddy holds an MBA in management consulting from Royal Roads University in Victoria and will help provide financial, management and promotional expertise for the Company.

Thomas McKeever, Executive Chairman

The appointment of Mr. McKeever is a significant step in the development of Abacus as a mineral exploration and development company. Mr. McKeever has a distinguished career that spans over forty years, most of which were spent as senior management in the mining and metal trading industry. Mr. McKeever's experience and advice will benefit Abacus as it rapidly advances the development of its copper gold resources in the historical Afton mining camp.

Douglas Fulcher, President and CEO

Mr. Fulcher has held numerous positions during a successful thirty years in mineral exploration. He has sat on several boards including Redstar Gold Corp., Skygold Ventures Ltd., and Niblack Mining Corp. and has developed an extensive relationship with both institutional and retail investors. Mr. Fulcher has also worked as a consulting geological contractor with expertise in logistics and capital markets for several major and junior mining companies in North America and overseas. Mr. Fulcher's main responsibility is for the management of the Company's activities.

Michael McInnis, P.Eng., Director

Mr. McInnis brings over 35 years of experience in mineral exploration in North America and overseas to the Company. He provides sound management expertise with over 25 years of experience in managing public resource companies and has a demonstrated track record in acquiring and developing high quality mineral projects. He serves on the Boards of several other minerals companies including Canadian Gold Hunter Corp., Canasil Resources Inc. and Gateway Gold Corp.

Victor Lazarovici, Director

Mr. Lazarovici has worked as a highly ranked and successful global metals and mining analyst for the past 20 years. Prior to entering the financial sector as an analyst, he spent over 14 years in the corporate sector in engineering, financial management and corporate development roles. Most recently, Mr. Lazarovici was the managing director and senior base metals and minerals analyst for BMO Capital Markets in New York. There, he led a team of analysts covering the base metals sector that was consistently ranked amongst the top tier in all of the major Canadian polls of institutional investors. Mr. Lazarovici has also served as a managing director and senior metals analyst for Smith Barney, where he was consistently ranked in the top tier of Wall Street mining and metals analysts in all of the major U.S. polls of institutional investors. He is the only analyst to receive the top honour in both the Canadian and U.S. Greenwich Associates surveys. He also worked at UBS, HSBC and Scotia Capital.

Louis Montpellier, Director

Mr. Montpellier has been practicing law in Vancouver, British Columbia since 1981 and since 1983 has worked exclusively in the capital markets as counsel to emerging issuers and listed public companies engaged in mineral exploration and mining. Mr. Montpellier has assisted a wide range of businesses in the entire spectrum of corporate finance activities, from accessing seed capital for private companies through to IPO's and subsequent public and private financings. Mr. Montpellier has worked extensively in the field of mergers and acquisitions, hostile and friendly take-over bids, proxy contests, corporate reorganizations and arrangements. Mr. Montpellier also has experience in debt and project financing, acting both for lenders and borrowers, with a particular emphasis on the financing of mineral projects. Mr. Montpellier is identified in a number of publications including the Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada, the Lexpert Guide to the Leading 100 Industry Specialists in Canada, Who's Who Legal, the International Who's Who of Mining Lawyers, and The Best Lawyers in Canada, as one of Canada's leading mining lawyers. Mr. Montpellier also has a wide range of experience in the mineral exploration and development business.

Archibald J. Nesbitt, B. Comm., LLB, Director

Mr. Nesbitt has a Bachelor of Laws Degree from the University of Western Ontario and a Bachelor of Commerce With Honours Degree from Queen's University. He has been an active member of the Law Society of Alberta since 1978. Mr. Nesbitt began his career in resource exploration and development and has held positions as President, CEO, CFO, COO and Chairman of the Board. From 1977 to 1984 Mr. Nesbitt was President and COO of the Calgary, Alberta-headquartered GEOMEX and MINEXCO energy groups of private uranium/mining and oil and gas exploration companies, which invested in excess of $300,000,000 in worldwide resource exploration and development. Mr. Nesbitt also holds directorships in Dejour Enterprises and Northpine Energy. Since 1984 Mr. Nesbitt has been actively involved in wildlife conservation and the sustained use of wildlife resources internationally. He was the founder of the Foundation for North American Big Game, a registered Canadian charity, and is currently the founder and President of The Alberta Chapter of Safari Club International and Public Action for Wildlife, Inc.

Contact Information

Abacus Mining & Exploration Corp.
Suite 615, 800 West Pender Street
Vancouver, BC V6C 2V6
Canada

Tim Mikula (Corporate Development)
tmikula@amemining.ca

t. 604.682.0301
f. 604.682.0307

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