Abacus Receives TSX Venture Exchange Approval for Warrant Extension
Share Capital & Compensation
| TSX Venture Exchange Symbol: AME | Suite 1000 – 1050 West Pender St Vancouver, B.C. V6E 3S7 Canada Tel: 604.682.0301 email: [email protected] website: www.amemining.com | |
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| Abacus Receives TSX Venture Exchange Approval for Warrant Extension | ||
| Vancouver, B.C., December 6, 2022. Abacus Mining & Exploration Corporation (“Abacus” or | ||
| the “Company”) (TSXV: AME) announces that further to its news release dated December 2, | ||
| 2022, the Company has received TSX Venture Exchange approval to extend the exercise | ||
| period of a total of 10,770,000 share purchase warrants, all of which are exercisable at $0.08 | ||
| per share (collectively, the "Warrants"). The Warrants were issued pursuant to a private | ||
| placement which closed December 20, 2019. The Company has extended the expiry date for | ||
| all the Warrants by eighteen (18) months, and accordingly, the new expiry date for the Warrants | ||
| is June 20, 2024. All other terms and conditions of the Warrants remain unchanged. | ||
| On Behalf of the Board, | ||
| ABACUS MINING & EXPLORATION CORPORATION | ||
| 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 | ||
| www.amemining.com. | ||
| Forward-Looking Information | ||
| This release includes certain statements that are deemed “forward-looking statements”. All statements in this release, other than statements of | ||
| historical facts, that address events or developments that Abacus expects to occur, are forward-looking statements. Forward-looking statements are | ||
| statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, | ||
| “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the | ||
| Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not | ||
| guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the | ||
| actual results to differ materially from those in forward-looking statements include changes to commodity prices, mine and metallurgical recovery, | ||
| operating and capital costs, foreign exchange rates, ability to obtain required permits on a timely basis, exploitation and exploration successes, | ||
| continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements | ||
| are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking | ||
| statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements | ||
| are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in | ||
| the event that management's beliefs, estimates or opinions, or other factors, should change. | ||
| Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the | ||
| TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. |