Abacus Provides a Corporate Update
Abacus Provides a Corporate Update
Vancouver, BC – December 22, 2022. Abacus Mining & Exploration Corporation (“Abacus” or
the “Company”) (TSXV: AME) is pleased to announce that all resolutions put before the
shareholders were passed at its AGM held on December 19, 2022.
The directors elected to the board for the coming year are Michael McInnis, Paul G. Anderson,
Thomas McKeever and Kerry Spong. John McConnell stepped down from the board at the
meeting.
The Company wishes to express its sincere apprecia tion to the time and effort that John
devoted to the Abacus board, and regrets that his other business interests have precluded his
continued involvement as a director. John was first elected a director of Abacus in 2015.
“The Company would also like to welcome Paul to the board” stated Michael McInnis, Executive
Chairman of Abacus “who serves as President and CEO of the Company”.
Abacus is a Company focussed on copper exploration. It is currently earning a 75% interest in
the Willow property from Almadex America Inc, a wholly owned subsidiary of Almadex Minerals
Ltd. The Company also has a lease on the contiguous Nev-Lorraine claims giving it the right to
explore and to elect to purchase these claims outright over a ten-year period. The entire claim
group is known as the Willow Property.
Abacus also holds a 20% ownership interest in the Ajax copper-gold porphyry project, located
near Kamloops, British Columbia., which is managed by base metal major KGHM Polska Miedź
S.A., who hold the remaining 80%. The Ajax Project contains significant quantities of co pper
and gold, within a NI 43 -101 Proven and Probable Mineral Reserve of 426 Mt at 0.29% Cu,
0.19 g/t Au and 0.39 g/t Ag. Contained metal is in the order of 2.7 Bil lbs Cu, 2.6 Moz Au and
5.3 Moz Ag**.
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.
** Wardrop Engineering Inc. 2012. Ajax Cop per/Gold Project, Kamloops, British Columbia –
Feasibility Study Technical Report. Doc. No. 1054610300-REP-R0004-02. January 2012.
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%),
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
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 intere st, 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” occ ur. Although the
Company believes the expectations expressed in such forward -looking statements are based on reasonable assumption s, 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 inc lude 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 update these forwa rd-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.