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February 20, 2015
Vancouver, BC — February 20, 2015.
Abacus Mining & Exploration Corporation (“Abacus” or the “Company”) (TSXV:AME) announces that the Board of Directors have approved the issuance of 1,540,000 stock options to directors, employees, officers and consultants of the Company.
The stock options, provided under the Company’s approved stock option plan and resulting from an annual compensation review, are exercisable at a price of $0.05 per share for a period of five years from the date of grant.
To date, total outstanding options represent only 4% of the issued and outstanding capital of the Company. The stock option grants are subject to regulatory approval.
On Behalf of the Board,
ABACUS MINING & EXPLORATION CORPORATION
Chairman, President & CEO
Abacus is a mineral exploration and mine development company with a 20% interest in the Ajax copper-gold project located at the historic Ajax-Afton site southwest of Kamloops, B.C. Through a joint venture between Abacus and KGHM Polska Miedz S.A. through KGHM Ajax, the Ajax project is a proposed open-pit mine with an estimated approximate 23-year mine life expected to yield approximately 109 million pounds of copper and 99,000 ounces of gold annually. [see Report titled “Ajax Copper/Gold Project — Kamloops, British Columbia Feasibility Study Technical Report” by Wardrop (a Tetra Tech Company) dated January 6, 2012 (“FS”)].
The technical information in this news release has been reviewed and approved by Michael McInnis, P.Eng., Abacus’s Chairman, President & CEO and a qualified person within the meaning of National Instrument 43-101.