September 10, 2007
Abacus Mining Drills 207 M Of 0.32% Cu At Ajax

Mr. Doug Fulcher reports

ABACUS MINING & EXPLORATION CORP.: PROGRESS REPORT ON DRILLING AT AJAX WEST AND EAST; DRILLING UNDERWAY AT DM-AUDRA-CRESCENT

Abacus Mining & Exploration Corp. has received further results from the diamond drill program on the Ajax property near Kamloops, B.C. The property comprises eight, 100-per-cent-owned Crown grants near Kamloops, B.C., which encompass most of the historical east and west pits that were last mined in 1997 by Afton Operating Company. The Ajax property is situated eight kilometres southeast of the former Afton mill/shop/warehouse infrastructure which the company purchased from Teck-Cominco and is accessible via an existing haul road.

Two diamond drill rigs are currently in operation on the Ajax property. The first drill rig is dedicated to defining a 43-101-compliant resource in the Ajax East zone. The second drill rig is currently being used to fill in and possibly expand the NI-43-101-compliant Ajax West inferred resource estimate completed last March by Beacon Hill Consultants Ltd. (147 million tonnes at 0.36 per cent copper and 0.23 gram per tonne gold at a 0.20 per cent copper cut-off grade).

Two exploratory holes were also drilled into the adjacent Monte Carlo claim from the east side of the Ajax east pit.

A third drill rig is operating at the DM-Audra-Crescent zone which is situated one to 2.5 kilometres east of the Afton mill/shop/warehouse infrastructure. On this property Abacus has already defined a 43-101-compliant resource estimate by Giroux Consultants Ltd. of 28.5 million tonnes indicated at 0.30 per cent copper and 0.15 g/t gold plus 15.8 million tonnes inferred at 0.28 per cent copper and 0.12 g/t gold; both at 0.20 per cent copper cut-off grade. The current drilling is intended to expand on the resource, which is open at depth and along strike. Results will be released when sufficient assay data have been received.

Douglas Fulcher, president of Abacus, states, "This year's drilling program is continuing to expand on the potential size of both the Ajax and DM-Audra deposits." A resource on the Ajax East deposit is expected to be completed this fall and preliminary economics on the whole Ajax area as well as the DM zones is now well under way and expected to be completed in early 2008. The company is currently contemplating to have a full feasibility study completed by the end of 2008. To date, Abacus has drilled over 100,000 metres in the Afton camp with an additional 30,000 metres to be completed this year. Baseline and environmental studies are well under way and will continue throughout the year.

Drilling highlights (see tables for further details)


Ajax West

Hole AW-07-047 intersected 204 metres of 0.28 per cent copper and 0.12 g/t gold from 47 m to 251 m; and 48 metres of 0.70 per cent copper and 0.26 g/t gold from 335 m to 383 m.

Hole AW-07-048 intersected 93 metres of 0.37 per cent copper and 0.12 g/t gold from 120 m to 213 m; including 21 m of 0.65 per cent copper and 0.23 g/t gold from 147 m to 168 m.

Hole AW-07-050 intersected 60 m metres of 0.64 per cent copper and 0.24 g/t gold from 53 m to 113 m.

Hole AW-07-051 intersected 57.3 metres of 0.97 per cent copper and 0.51 g/t gold from 26.7 m to 84 m; including 48.3 m of 1.08 per cent copper and 0.55 g/t gold from 26.7 m to 75 m.

Ajax East

Hole AE-07-024 intersected 207 metres of 0.32 per cent copper and 0.17 g/t gold from 136 m to 343 m; including 48 m of 0.47 per cent copper and 0.3 g/t gold from 259 m to 307 m.

Hole AE-07-026 intersected 120 metres of 0.35 per cent copper and 0.15 g/t gold from 50 m to 170 m.

Hole AE-07-029 intersected 108 metres of 0.48 per cent copper and 0.35 g/t gold from 470 m to 578 m.

Hole AE-07-021 intersected 246.02 metres of 0.29 per cent copper and 0.27 g/t gold from 384 m to 630.02 m.

Monte Carlo

Hole AE-07-031 intersected 36 metres of 0.62 per cent copper and 0.17 g/t gold from 124 m to 160 m; and 15.1 metres of 0.82 per cent copper and 0.16 g/t gold from 485.9 m to 501 m.

Hole AE-07-032 intersected 18 metres of 0.69 per cent copper and 0.15 g/t gold from 79 m to 97 m; and 24.8 metres of 0.45 per cent copper and 0.10 g/t gold from 305.2 m to 330 m.

The tables of drill results list the most recent results from the Ajax drilling that have not been previously released. Intercept lengths are core lengths, which do not necessarily reflect true width. A drill hole plan map and cross-sections will be posted on the Abacus website as soon as possible.

AJAX WEST DRILL RESULTS
 
                                 Core
 
                     From     To length Copper  Gold
 
Section   Hole No.     (m)    (m)    (m)    (%)  g/t
 
Including            98.0  137.0   39.0   0.38  0.17
 
And                 335.0  383.0   48.0   0.70  0.26
 
1700E   AW-07-048   120.0  213.0   93.0   0.37  0.12
 
Incl                147.0  168.0   21.0   0.65  0.23
 
                    180.0  213.0   33.0   0.40  0.11
 
1700E   AW-07-049                                NSV
 
1800E   AW-07-050    53.0  113.0   60.0   0.64  0.24
 
Including            83.0  110.0   27.0   0.91  0.34
 
1800E   AW-07-051    26.7   84.0   57.3   0.97  0.51
 
Including            26.7   75.0   48.3   1.08  0.55
 
                    189.0  207.0   18.0   0.57  0.20
 
1800E   AW-07-052   25.35   58.0  32.65   0.57  0.24
 
Including            31.0   55.0   24.0   0.69  0.29
 
1800E   AW-07-053     Hole did not reach bedrock; no
 
                                              assays
 
1800E   AW-07-054     Hole did not reach bedrock; no
 
                                              assays
 
1850E   AW-07-055                                NSV
 
1850E   AW-07-056                                NSV

Drill coverage of the Ajax West deposit has now been completed along strike, but Abacus will continue with infill coverage at depth and along the north and south margins to better constrain the deposit.

AJAX EAST DRILL RESULTS
 
                     From     To length Copper  Gold
 
Section   Hole No.     (m)    (m)    (m)    (%)  g/t
 
                    278.0  317.0   39.0   0.36  0.22
 
                    377.0  416.0   39.0   0.31  0.19
 
1400N   AE-07-024   136.0  343.0  207.0   0.32  0.17
 
                    259.0  307.0   48.0   0.47  0.30
 
                    271.0  301.0   30.0   0.59  0.38
 
1400N   AE-07-026    50.0  170.0  120.0   0.35  0.15
 
                    347.0  368.0   21.0   0.63  0.39
 
                    413.0  431.0   18.0   0.33  0.23
 
1450N   AE-07-027    99.0  135.0   36.0   0.34  0.22
 
                    156.0  222.0   66.0   0.45  0.24
 
                    297.0  318.0   21.0   0.66  0.36
 
                    351.0  363.0   12.0   0.77  0.66
 
1450N   AE-07-029   143.0  179.0   36.0   0.32  0.16
 
                    347.0  359.0   12.0   0.48  0.46
 
                    470.0  578.0  108.0   0.48  0.35
 
                    497.0  521.0   24.0   0.90  0.58
 
1500N   AE-07-020   Abandoned in fault before target
 
                                        zone reached
 
1500N   AE-07-021   162.0  186.0   24.0   0.69  0.33
 
                    384.0 630.02 246.02   0.29  0.27
 
                    384.0  417.0   33.0   0.41  0.33
 
                    498.0 630.02 132.02   0.30  0.30
 
                    498.0  555.0   57.0   0.35  0.37
 
1550N   AE-07-023    67.0   79.0   12.0   0.76  0.27
 
                    196.0  232.0   36.0   0.29  0.20
 
                    340.0  403.0   63.0   0.31  0.22
 
1550N   AE-07-025                                NSV
 
1550N   AE-07-028   213.0  414.0  201.0   0.22  0.22
 
                    213.0  273.0   60.0   0.42  0.29
 
                    357.0  414.0   57.0   0.26  0.35
 
1650N   AE-07-030   408.0  561.0  153.0   0.23  0.21
 
                    450.0  471.0   21.0   0.53  0.53
 
                    540.0  561.0   21.0   0.33  0.31

Detailed drilling of the Ajax east pit on Abacus ground is nearing completion. Some infill drilling is still required between the company's southern boundary and Section 1350N, and near the company's eastern claim boundary. Additionally, one or two more longitudinal holes will be completed along a northeast-to-southwest direction to look for clues that will help it determine the orientation that future drilling should take as it moves eastward into the Monte Carlo property.

Monte Carlo property

The Monte Carlo claim is part of a contiguous group of six Abacus-owned Crown-granted claims that cover part of the Ajax east pit deposit and surrounding area, most recently mined by Afton Operating Company. The Monte Carlo claim lies immediately east of the old pit where near-surface historical work indicates the presence of copper-gold mineralization that appears to be similar to, and therefore possibly an eastern extension of, the Ajax zones. Abacus recently completed two exploratory holes into the claim from Section 1450N on the east side of the Ajax east pit and the results demonstrate the presence of copper-gold mineralization, which has the potential to extend to depths encountered at both Ajax open pits. Highlights are shown in the table of Monte Carlo drill results.           

MONTE CARLO DRILL RESULTS
 
                                 Core
 
                     From     To length Copper  Gold
 
Section   Hole No.     (m)    (m)    (m)    (%)  g/t
 
1450N   AE-07-031    59.1   68.0    8.9   0.52  0.13
 
                    124.0  160.0   36.0   0.62  0.17
 
                    485.9  501.0   15.1   0.82  0.16
 
1450N   AE-07-032    79.0   97.0   18.0   0.69  0.15
 
                    301.0  336.0   35.0   0.37  0.09
 
                    305.2  330.0   24.8   0.45  0.10

Eco Tech Laboratory Ltd. of Kamloops, B.C., has completed all of Abacus's analytical work on the project. A quality-control program, using specific standards and blank samples, is in place. Robert G. Friesen, PGeo, is the qualified person responsible for the design and conduct of the work performed.

We seek Safe Harbor.

You can view the Next News Releases item: October 30, 2007,Abacus Mining And New Gold Sign Letters Of Intent To Ensure Co-Operation In The Development Of The Afton-Ajax Cu-Au District

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