Mr. Paul Anderson reports

ABACUS ANNOUNCES WARRANT EXTENSION

Abacus Mining & Exploration Corp. has applied to extend the exercise period of a total of 10.77 million share purchase warrants, all of which are exercisable at eight cents per share. The warrants were issued pursuant to a private placement that closed Dec. 20, 2019. The company proposes to extend the expiry date for all these warrants by 18 months, and, accordingly, the new expiry date for the warrants will be June 20, 2024. All other terms and conditions of the warrants remain unchanged. The warrant extension is subject to acceptance by the TSX Venture Exchange.

About Abacus Mining & Exploration Corp.

Abacus is a mineral exploration and mine development company currently focused on copper and gold in British Columbia and Nevada. The company's main asset is a 20-per-cent ownership interest, together with KGHM Polska Miedz SA (80 per cent), in the proposed Ajax copper-gold mine, located southwest of Kamloops, B.C., which has undergone a joint provincial and federal environmental assessment process. On Dec. 14, 2017, a decision was made by the British Columbia 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 has recently reopened an office in Kamloops, B.C., to facilitate first nation, community and governmental engagement in order to advance the project toward a potential resubmission of the environmental application.

Abacus also holds an option on the Willow copper-gold property located near Yerington, Nev., in which it can acquire up to a 75-per-cent ownership interest, and the contiguous Nev-Lorraine claims, subject to a 10-year lease agreement.

We seek Safe Harbor.