Abacus Announces Share Issuance to Almadex

Press Release

Vancouver, BC – March 02, 2023. Abacus Mining & Exploration Corporation (“Abacus” or the “Company”) (TSXV:AME) is pleased to announce that the TSX has accepted for filing the issuance of two million shares of the Company to Almadex Minerals Ltd. as part of its agreement to extend the option period on the Willow, Nevada Cu-Mo porphyry property.

The Company also announces that the Board of Directors has approved the grant of stock options to directors, officers, employees and consultants of the Company allowing for the acquisition of up to, in the aggregate, 1,080,000 shares of the Company. The grant is a result of the Company’s annual compensation review, and the issuance is made under the Company’s approved stock option plan. The options are exercisable at a price of $0.05 per share for a period of five years from the date of grant and are subject to regulatory policies.

On Behalf of the Board,

ABACUS MINING & EXPLORATION CORPORATION

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

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 www.amemining.com.

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