An anonymous director reports

ABACUS ANNOUNCES EXTENSION TO FINANCING

Abacus Mining & Exploration Corp., further to its news releases dated July 23, 2024, and Aug. 20, 2024, is extending the closing date of its non-brokered private placement to Oct. 16, 2024. The offering is for total gross proceeds of up to $400,000 through the issuance of up to 20 million units at a price of two cents per unit.

Each unit consists of one common share of the company and one-half of one non-transferable common share purchase warrant, with each warrant exercisable to purchase one common share of the company at a price of five cents per common share for a period of three years from the date of closing of the offering. Proceeds from the offering will be applied toward exploration and for general working capital, and payment of $80,000 (U.S.) in respect of a property payment to the owners of the Nev-Lorraine property. In connection with the offering, certain finders may receive a cash fee and/or non-transferable finder warrants.

The offering is being conducted pursuant to available prospectus exemptions, including the exemption to existing shareholders of Abacus who are permitted to subscribe pursuant to British Columbia Instrument 45-534 -- Exemption from Prospectus Requirement for Certain Trades to Existing Security Holders. If total subscriptions received for the offering exceed the maximum offering amount of $400,000, units will be allocated pro rata among all subscribers qualifying under all available exemptions, unless the company otherwise increases the maximum offering amount.

The company closed a first tranche of the offering on Aug. 20, 2024, pursuant to which it issued 14,215,000 units for gross proceeds of $284,300. Completion of the second tranche of the offering remains subject to acceptance by the TSX Venture Exchange, and all securities issued and issuable will be subject to a four-month-and-one-day hold period from the date of closing.

In accordance with the policies of the TSX-V, the company is relying on a minimum price exception in order to issue securities at less than five cents per listed security. As such, the aggregate number of common shares issued by the company at less than five cents in this offering and in the next 12-month period may not exceed 100 per cent of the number of common shares which were issued and outstanding prior to the offering.

The company recently acquired the Willow copper-molybdenum property, and it holds a lease on the adjacent Nev-Lorraine copper-molybdenum property near Yerington, Nev., and a 20-per-cent interest carried to production in the advanced Ajax copper-gold development project in B.C. Investors are referred to the company website for the latest news and project descriptions.

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 Mied 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 owns a 100-per-cent interest in the Willow copper-gold property located near Yerington, Nev., and it controls the contiguous Nev-Lorraine claims subject to a 10-year lease agreement.

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