Vancouver, BC – June 4, 2014.
Abacus Mining & Exploration Corporation (the "Company") announces that, following receipt of approval from the TSX Venture Exchange for the previously announced shares for debt transaction, the Company has now issued 400,000 common shares to Ian MacNeily, former Executive Vice President and Chief Financial Officer of the Company, at a deemed price of $0.065 per common share.
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 feasibility stage Ajax copper-gold project located at the historic Ajax-Afton site southwest of Kamloops, B.C. Through a joint venture between Abacus Mining & Exploration Corporation and KGHM Polska Miedz S.A. through KGHM Ajax, the Ajax Project is a proposed open-pit mine with an approximate 20-year mine life expected to yield approximately 109 million pounds of copper and 99,000 ounces of gold annually. Total proven and probable mineral reserves are estimated at 3 billion lbs Cu and 2.7 million ozs Au at 0.27% Cu and 0.17 g/t Au based on $2.50 Cu and $1,085 Au. [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")].
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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