Abacus Announces Share Issuance to Almadex
TSX Venture Exchange Symbol: AME
Suite 1000 – 1050 West Pender Street
Vancouver, B.C. V6E 3S7 Canada
Tel: 604.682.0301
email: [email protected]
website: www.amemining.com
Abacus Announces Share Issuance to Almadex
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.
Forward-Looking Information
This release includes certain statements that are deeme d “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.