Vancouver, BC - August 29, 2008 - Abacus Mining and Exploration Corp. (TSX.V:AME) (the "Company") announces it has agreed to grant 1,650,000 employee and incentive stock options at an exercise price of $0.26 for a period of five years.

The foregoing is subject to regulatory acceptance.

On Behalf of the Board,
ABACUS MINING AND EXPLORATION CORPORATION

Doug Fulcher,

President and Chief Executive Officer

Contact: Tim Mikula, Investor Relations 866-834-0301 tmikula@amemining.com
 

Forward-Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Abacus Mining and Exploration Corp. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.