Abacus Mining is pleased to report that current drilling at the Afton property has significantly extended copper-gold mineralization on the Rainbow claims to over 600 metres in length and to over 400 metres in depth. Results have demonstrated the continuity of copper-gold-palladium values in a zone between the #2 and #22 target areas. The zone lies within a 3D induced polarization geophysical anomaly which extends a further 700 metres to the northwest. This extension has not yet been tested and the mineralized zone is open to extension both on strike and to depth.

The drill program tested the open pit as well as the underground potential of the zone. Previous drilling intersected near surface mineralization with hole R-95-24 (drilled by Teck Cominco) intersecting 258.3 metres grading 0.72% copper and 0.14 g/t gold. Results from recently completed Hole R-04-44 included 0.43% copper, 0.12 g/t gold and 0.02 g/t palladium over 141.0 metres confirming the near-surface potential of the zone.

Previous drilling also intersected deeper, higher-grade mineralization. Hole R-02-06 intersected 299.2 metres grading 0.81% copper, 0.25 g/t gold and 0.05 g/t palladium and Hole R-02-09 intersected 171.0 metres grading 0.89% copper, 0.41 g/t gold and 0.05 palladium. Recently completed Hole R-04-47 intersected 52.0 metres grading 0.93% copper, 0.41 g/t gold and 0.46 g/t palladium. Included in this intersection were 10.5 metres of 1.29% copper, 0.96 g/t gold and 0.81 g/t palladium.

The following table summarizes the significant intersections drilled by the Company within this zone:
 

* PREVIOUSLY REPORTED

Exploration has also recently been initiated at the DM-Audra Crescent area, east of the past producing Afton Pit, where a 3D-IP survey has defined a large east -- west trending chargeability anomaly. The chargeability anomaly occurs along a structural trend extending from the Cresecnt Pit area west approximately 3 kilometres to the Afton Pit. To date three holes have been completed within the chargeability anomaly and have extended the DM zone to depth. Assay results are pending.

Future Plans

Abacus is earning a 100% interest in the Afton project from Teck Cominco Limited (who will retain a back-in right) by incurring expenditures of $1,300,000 by 2006. Due to the accelerated nature and success of the exploration program, Abacus anticipates to be vested in the Afton Project this summer.

The Company has completed over 15,000 metres of diamond drilling this year and based on the success of the program thus far, the Company has planned a Phase II program that will consist of up to an additional 20,000 metres of diamond drilling. The Phase II program is scheduled to commence by months end.

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 ongoing, using both Eco Tech of Kamloops 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

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