Mr. Paul Anderson reports

ABACUS PROVIDES A CORPORATE UPDATE

Abacus Mining & Exploration Corp. shareholders approved all resolutions put before them at Abacus Mining's AGM (annual general meeting) held on Dec. 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 appreciation to the time and effort that Mr. McConnell devoted to the Abacus board, and regrets that his other business interests have precluded his continued involvement as a director. Mr. McConnell was first elected a director of Abacus in 2015.

"The company would also like to welcome Paul to the board," stated Mr. McInnis, executive chairman of Abacus, "who serves as president and CEO of the company."

The technical information in this news release has been reviewed and approved by Mr. Anderson, MSc, PGeo, a qualified person within the meaning of National Instrument 43-101.

About Abacus Mining & Exploration Corp.

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-per-cent ownership interest, together with KGHM Polska Miedz (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.