Mr. Paul Anderson reports

ABACUS ANNOUNCES INCREASE TO FINANCING

Further to its news release dated Feb. 28, 2025, Abacus Mining & Exploration Corp. is increasing the size of its non-brokered private placement for proceeds of up to $350,000 through the issuance of up to 17.5 million units at a price of two cents per unit to 23 million units for gross proceeds of up to $460,000.

Each unit will consist of one common share of the company and 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 purposes.

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., as well as a 20-per-cent interest carried to production in the advanced Ajax copper-gold development project in British Columbia. Investors are referred to the company website for the latest news and project descriptions.

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 $460,000, units will be allocated pro rata among all subscribers qualifying under all available exemptions, unless the company otherwise increases the maximum offering amount.

The financing is subject to TSX Venture Exchange approval. In connection with the offering, certain finders may receive a cash fee and/or non-transferable finders' warrants. All securities issued will be subject to a four-month hold period under Canadian securities law.

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 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 have 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.