VANCOUVER, BC February 9, 2009 Abacus Mining & Exploration Corp. ("Abacus" or "the Company") (TSX.V:AME) is pleased to announce further assay results from the diamond drill program completed in 2008 in the 100% owned Ajax area near Kamloops, British Columbia. 

Assay results from forty-nine drill holes reported are included in the recently released Ajax resource estimation (released January 14th, 2009) totaling 365 million tonnes (measured and indicated) grading 0.31% copper and 0.20 g/t gold (at 0.20% CuEq cutoff). This resource demonstrates the large size of Ajax with approximately 2.5 billion pounds of copper and 2.3 million ounces of gold. Abacus is now working to complete a preliminary economic assessment ("PEA") that contemplates a 60,000 tonne per day operation. The Ajax deposit remains open along strike and at depth. Partial or complete results from seven holes reported were not available in time for the resource estimation, but will be included for the PEA. 

Drill Highlights (Ajax West ("AW") and Ajax East ("AE"))

• Hole AW-08-094 intersected 389.9 metres (1,279.2 feet) grading 0.35% copper and 0.19 g/t gold; including a 22 metre (72.2 feet) intercept averaging 1.35% copper and 0.91 g/t gold and a 67 (219.8 feet) metre intercept averaging 0.67% copper and 0.39 g/t gold


• Hole AW-08-074 intersected 180 metres (590.5 feet) grading 0.56% copper and 0.26 g/t gold; including a 63 metre (206.7 feet) intercept averaging 0.83% copper and 0.37 g/t gold and a 54 metre (177.2 feet) intercept averaging 0.64% copper and 0.31 g/t gold


• Hole AW-08-077 intersected 429 metres (1,407.5 feet) grading 0.33% copper and 0.25 g/t gold.


• Hole AW-08-081 intersected 222 metres (728.3 feet) grading 0.44% copper and 0.38 g/t gold, including a 183 metre (600.4 feet) intercept averaging 0.49% copper and 0.35 g/t gold.


• Hole AW-08-100 intersected 322.65 metres (1058.6 feet) averaging 0.37% copper and 0.15 g/t gold; including a 66 metre (216.5 feet) intercept averaging 0.57% copper and 0.23 g/t gold.


• Hole AE-08-059 intersected 147 metres (482.3 feet) averaging 0.52% copper and 0.36 g/t gold; including a 21 metre (68.9 feet) intercept averaging 0.92% copper and 0.44 g/t gold.


• Hole AE-08-058 intersected 149.56 metres (490.7 feet) grading 0.39% copper and 0.17 g/t gold; including a 104.56 metre (343 feet) intercept averaging 0.48% copper and 0.22 g/t gold.


• Hole AE-08-061 intersected 96.56 metres (316.8 feet) grading 0.78% copper and 0.41 g/t gold, including a 39.56 metre (129.8 feet) intercept averaging 1.19% copper and 0.56 g/t gold


• Hole AE-08-062 intersected 359 metres (1177.8 feet) grading 0.35% copper and 0.30 g/t gold.

Discussion of Results

The reported drill holes were completed around Ajax West and East pits to fill-in and further define the mineralized zones. Thirteen West pit holes and ten East pit holes have one or more significant mineralized intercepts greater than 300 feet (91 metres) in length; including four holes with significant intercepts of greater than 1000 feet (304.8 metres). 

About the Ajax Project

Abacus is an exploration and development company that holds a 100% interest in five significant copper-gold mineral properties in the prolific Afton Camp near Kamloops, British Columbia.
On the Ajax property, Abacus owns 100% interest in eight crown granted claims and is earning a 60% interest in intervening ground from New Gold Inc. Based on 621 historic and recent holes drilled by Abacus since late 2005, AMEC Americas Limited recently estimated measured and indicated resources on the property totaling 365 million tonnes grading 0.31% copper and 0.20 g/t gold using a 0.20% copper equivalent cutoff; containing over 2.5 billion pounds of copper and 2.3 million ounces of gold. 

The Ajax area lies nine kilometres southeast along an existing haul road from the Afton mill, shop facilities and tailings area which Abacus agreed to purchase along with the water rights in 2005 from Teck-Cominco. Eco Tech Laboratory Ltd. of Kamloops, B.C., has completed all of Abacus' analytical work on the project. A quality-control program, using specific standards and blank samples is in place. Robert G. Friesen, P.Geo., the Company's Senior Geologist, is the qualified person responsible for the design and conduct of the work performed.

On Behalf of the Board,

ABACUS MINING & 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.
 

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