Mr. Paul Anderson reports

ABACUS CLOSES SECOND TRANCHE OF EQUITY OFFERING

Abacus Mining & Exploration Corp. has closed the second and final tranche of its non-brokered private placement, and issued 4.5 million units, at a price of two cents per unit, for gross proceeds of $90,000.

Each unit consists of one common share and one-half of one share purchase warrant. Each whole warrant entitles the holder to purchase one common share at a price of five cents per common share for a period of three years from the date of issuance. For further information on this previously announced private placement, refer to the company's news releases dated July 23, 2024, and Aug. 20, 2024.

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.

All securities issued and issuable under the offering are subject to a four-month-and-one-day hold period from their date of issuance, and completion of the offering remains subject to acceptance by the TSX Venture Exchange.

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.

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 S.A. (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.

We seek Safe Harbor.