Abacus Announces $150,000 Financing
Abacus Announces $150,000 Financing
Vancouver, BC – May 1, 2019. Abacus Mining & Exploration Corporation (“Abacus” or the
“Company”) (TSXV:AME) is pleased to announce a non -brokered private placement for
proceeds of up to $150,000 through the issuance of 3,000,000 units ("Units") at a price of
$0.05 per Unit. Each Unit will consist of one common share of the Company and one full non-
transferable common share purchase warrant, with each warrant exercisable to purchase one
common share of the Company at a price of $ 0.08 per common share for a period of 3 years
from the date of closing of the financing.
Proceeds from the financing will be applied towards the Company's exploration commitments
and for general working capital and corp orate purposes. The Company holds options and
leases on the Willow and adjacent Nev -Lorraine copper -molybdenum p roperties in the
Yerington copper camp, southeast of Reno, Nevada.
The Yerington copper camp contains several past producing porphyry and skar n deposits,
including the Yerington Mine that produced approximately 1.6 billion pounds of copper for
Anaconda between 1952 until 1978. Advanced projects in the camp include Ann Mason (M&I
of 1.4BT at 0.32% Cu), owned by Mason Resources, Nevada Coppers’ Pumpkin Hollow (P&P
of 572 MT at 0.4% Cu) which is in mine development, and Quaterra Resources’ MacArthur
oxide project (M&I of 159MT at 0.212% Cu) which is in prefeasibility.
The Company also has a 20% carried interest in the advanced stage Ajax Cu -Au project in
B.C.
The financing is subject to TSX Venture Exchange (TSXV) 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.
The technical information in this news release has been reviewed and approved by Paul G. Anderson, M.Sc.,
P.Geo., a Qualified Person within the meaning of National Instrument 43-101.
On Behalf of the Board,
ABACUS MINING & EXPLORATION CORPORATION
Paul G. Anderson
President and COO
About Abacus
Abacus is a mineral exploration and mine development company currently focused on its optioned Willow copper-
gold p roperty 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. The Company also holds a 20% ownership
interest, together with KGHM Polska Meidz S.A. (80%), in the proposed copper -gold Ajax Mine located southwest
of Kamloops, B.C., which has recently 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. For the latest reports and information on Abacus’ projects, please refer to the Company’s
website at www.amemining.com.
Suite 1000 – 1050 West Pender Street
Vancouver, B.C. V6E 3S7 Canada
Tel: 604.682.0301
email: [email protected]
website: www.amemining.com
TSX Venture Exchange Symbol: AME
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 reasonab le 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 e xploration 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 upda te 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.