Mr. Paul Anderson reports

ABACUS RECEIVES TSX VENTURE EXCHANGE APPROVAL FOR WARRANT EXTENSION

Further to Abacus Mining & Exploration Corp.'s news release dated Dec. 2, 2022, the company has received TSX Venture Exchange approval 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 which closed Dec. 20, 2019. The company has extended the expiry date for all the warrants by 18 months, and accordingly, the new expiry date for the warrants is June 20, 2024. All other terms and conditions of the warrants remain unchanged.

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 copper-gold Ajax 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 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 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.