Abacus Mining and Exploration Corp. (the "Company") is pleased to announce further results from the 2004 drilling program on the DM, Audra and Crescent zones on the Afton Project near Kamloops, British Columbia. This phase of drilling successfully expanded the mineralization at depth, increased strike extensions, and filled in areas where previous drilling was widely spaced. Several of these target areas still remain open and will require further drilling. Results for four prospect holes located on the Coquihalla zone remain pending. 

Company geologists are presently refining the technical databases for both the Rainbow and DM/Audra zones, in preparation for geo-statistical studies and resource estimates. These studies will aid planning of the next drilling phase scheduled for late February 2005.

DM-AUDRA-CRESCENT ZONES 

Mineralization at the DM and Audra zone outcrops at surface and dips steeply to the south. The mineralized zone varies from 20 metres to 200 metres in width, has been intersected up to 300 metres in depth, and has a strike length of over 1,200 metres. To date, no plunge orientation has been determined for the mineralized zones. While a majority of drilling has been completed on the DM and Audra zones, further drilling is planned to fully delineate the strike extension between the DM and Audra zones and the Crescent zone, which has an overall strike length of 2,500 metres. Of particular interest are several of the wide intercepts of lower grade mineralization that occur peripherally to the central core of the deposit. In addition, elevated gold values are now being encountered in the Audra zone. Significant results from the DM-Audra-Crescent zones are as follows:

*Copper equivalent calculations are based on $400.00 (US) per ounce gold and $0.90 (US) per pound copper. Copper equivalent calculations reflect metal content and have not been adjusted for metallurgical recoveries.

Due to the geometry of the mineralization, most drill holes have been drilled at angles varying from -45° to - 80° allowing them to cross the entire zones. Holes DA-04-020 and 022 were both drilled from the floor of the Crescent open pit approximately 500 metres east of the Audra zone.

A drill plan map of the DM, Audra and Crescent zones is available at www.amemining.com.

COQUIHALLA EAST ZONE

The Company also completed four holes on the Coquihalla East zone. The Coquihalla East zone is believed to occur along the favourable Leemac Fault structure, which also hosts the company's Rainbow, No. 1 and No. 17 zones two kilometres to the southeast and the previously mined Pothook deposit, 0.5 kilometres to the northwest. 

Eco Tech Laboratory Ltd. of Kamloops, B.C. has completed all of the Company's analytical work on the project. A quality control program, using specific standards and blank samples is ongoing, using Eco Tech and ALS Chemex Labs of North Vancouver, B.C. Mr. Robert R. Friesen, P. Geo and Mr. Robert Darney, P. Geo are the qualified persons responsible for the design and conduct of the work performed.

On Behalf of the Board,
ABACUS MINING AND EXPLORATION CORPORATION

"Doug Fulcher"

Doug Fulcher
President