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Abacus Announces Increased Financing to $550,000

Press Release

Vancouver, BC –  Abacus Mining & Exploration Corporation (“Abacus” or the “Company”) (TSXV: AME). Further to its news release of April 17, 2023, the Company is pleased to announce that due to demand, the non-brokered private placement (“Offering”) has been increased from gross proceeds of $500,000 to gross proceeds of $550,000, on the issuance of up to 18,333,333 units (“Units”) at a price of $0.03 per Unit.

Each Unit will consist of one common share of the Company and one half of one non-transferable common share purchase warrant, with each warrant exercisable to purchase one common share of the Company at a price of $0.05 per common share for a period of 3 years from the date of closing of the Offering.

Proceeds from the Offering will be applied towards exploration and for general working capital, and payment of US$82,500 in respect of a property payment to the owners of the Nev-Lorraine property.

The Company holds options and leases on the Willow and adjacent Nev-Lorraine copper-molybdenum properties near Yerington, Nevada, and a 20% interest carried to production in the advanced Ajax copper-gold development project in B.C. Investors are referred to the Company website for the latest news and project descriptions.

The Offering is being conducted pursuant to available prospectus exemptions, including the exemption to existing shareholders of Abacus who are permitted to subscribe pursuant to British Columbia Instrument 45-534 – Exemption from Prospectus Requirement for Certain Trades to Existing Security Holders. If total subscriptions received for the Offering exceed the maximum Offering amount of $500,000, Units may be allocated pro rata among all subscribers qualifying under all available exemptions, unless the Company otherwise increases the maximum Offering amount.

The financing is subject to TSX Venture Exchange approval. In connection with the Offering, certain finders may receive a cash fee and/or non-transferable finder warrants. All securities issued will be subject to a four month hold period under Canadian securities law.

On Behalf of the Board,

Paul G. Anderson, P. Geo.
President and CEO

About Abacus

Abacus is a mineral exploration and mine development company currently focused on copper and gold in B.C. and Nevada. The Company’s main asset is a 20% ownership interest, together with KGHM Polska Miedź S.A. (80%), 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 December 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 have recently reopened an office in Kamloops, B.C. to facilitate First Nation, community and governmental engagement in order to advance the project towards a potential resubmission of the environmental application.

Abacus also holds an option on the 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.

For the latest reports and information on Abacus’ projects, please refer to the Company’s website at


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