Mr. Paul Anderson reports

ABACUS COMPLETES NON-BROKERED PRIVATE PLACEMENT

Abacus Mining & Exploration Corp. has closed its non-brokered private placement of units, as announced on Feb. 28, 2025, March 26, 2025, and March 31, 2025, pursuant to which the company raised total gross proceed of $470,000 and issued 23.5 million units at a price of two cents per unit. Each unit consists of one common share of the company and one common share purchase warrant, with each warrant exercisable to purchase one share at a price of five cents per share until April 2, 2028.

All securities issued in connection with the private placement are subject to a statutory four-month hold period expiring Aug. 3, 2025, and the private placement is subject to final acceptance by the TSX Venture Exchange.

The private placement was offered to existing shareholders of Abacus who were permitted to subscribe pursuant to British Columbia Instrument 45-534, Exemption from Prospectus Requirements for Certain Trades to Existing Security Holders, as well as under other available prospectus exemptions.

The company has a 100-per-cent interest in the Willow copper-molybdenum property, and it holds a lease on the adjacent Nev-Lorraine copper-molybdenum property near Yerington in Nevada, 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's 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 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 in Nevada, and it controls the contiguous Nev-Lorraine claims subject to a 10-year lease agreement.

We seek Safe Harbor.