Abacus Provides Corporate Update
TSX Venture Exchange Symbol: AME
P.O. Box 10127, Suite 1500, 701 West
Georgia Street Vancouver, B.C. V7Y
1C6 Canada Tel: 604.682.0301
email: [email protected]
website: www.amemining.com
Abacus Provides Corporate Update
Vancouver, BC – July 20, 2026. Abacus Mining & Exploration Corporation (“Abacus” or the “Company”)
(TSXV: AME) announces the termination of the lease on the Nev-Lorraine property in Nevada.
Nev-Lorraine is a small property located adjacent to the Company’s much larger, wholly owned Willow
property.
Nev-Lorraine was leased in 2018 with escalating lease payments incurred each year. The lease payment
schedule was becoming onerous, however, and though the Company made a sustained effort to reduce
these payments and to spread them out over a longer period, our efforts were unsuccessful. The property
has now been returned to the owners.
The Company in 2024 fully acquired the Willow porphyry copper -molybdenum (“Cu -Mo”) property in
Yerington, Nevada, after working the property since 2017 under an option agreement. Drilling to date by
the Company has identified a fifth Cu -Mo porphyry in the camp, the first new porphyry discovered in
decades in Yerington . Drill results indicate close proximity to a porphyry copper center which requires
further drilling to fully evaluate.
The Company currently has an interest in one other significant porphyry copper projects. The Ajax copper-
gold Joint Venture, located near Kamloops, British Columbia is a partnership between Abacus and base
metal major KGHM Polska Miedź S.A. (“KGHM”). Abacus holds a 20% interest in Ajax, carried through to
production, with KGHM holding the remainder and acting as operator on the project.
The Ajax Project contains significant quantities of copper 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 billion lbs Cu, 2.6 million oz Au and 5.3 million oz Ag. The 2016 Feasibility Study * used
metal prices of US$3.21/lb Cu, US$1200/oz. Au, and US$17/oz. Ag, which are significantly lower than
current prices.
Investors are referred to the Company website for the latest news and project descriptions.
* M3 Engineering and Technology Corp., February 19, 2016. Ajax Project NI 43-101 Technical Report
Feasibility Study Update.
On Behalf of the Board
ABACUS MINING & EXPLORATION CORPORATION
Paul G. Anderson, P. Geo.
President, CEO and Director
(604) 682-0301
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 continues to work to facilitate First Nation, community and governmental
engagement in order to advance the project towards a potential resubmission of the environmental application.
Abacus also owns a 100% interest in the Willow copper-gold property located near Yerington, Nevada.
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 si milar
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 per formance 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.