Abacus Mining and Exploration Corp. (the "Company") have received assay results from an additional five holes from the continuing diamond drill program on the Ajax portion of the Afton property near Kamloops, B.C. All of the drill holes reported have consistently intersected the wide zone of copper-gold rich mineralization reported in previous news releases below the Ajax West Pit. Drilling by Abacus has now tested 300 metres of the approximately 600 metres long Ajax West pit. Drilling has confirmed the copper-gold mineralization extends at least 300 metres below the west pit. The potential to expand this near surface mineralized zone on strike and at depth remain excellent. 

The Company also reports that is has now added a second drill rig for testing the depth potential underneath the nearby Ajax East pit. Abacus' priority is to define a resource on the Ajax property as soon as possible. 


Drilling Highlights:

- Drill hole AW-06-013 was drilled on Section 1350E at an azimuth of 29.0o (UTM), dip -- 64.7o for a total length of 633.07 metres. It intersected 0.51 percent copper and 0.29 grams per tonne (g/t) gold over 288 metres. This included an intercept of 0.94 percent copper and 0.40 g/t gold over 21 metres.

- Drill hole AW-06-012 was drilled from the same collar as AW-06-013 at an azimuth of 29.3o (UTM), dip -- 50.5o for a total length of 511.5 metres. It intersected 0.45 percent copper and 0.29 grams per tonne (g/t) gold over 306 metres.

- Drill hole AW-06-015 was drilled 100 metres to the east on Section 1450E at an azimuth of 28.3o (UTM), dip -- 46.3o for a total length of 419.71 metres. It intersected 0.45 percent copper and 0.36 grams per tonne (g/t) gold over 270.1 metres.


Doug Fulcher, President of the Company states, "We are extremely encouraged by the grades and widths from the Ajax drilling. The addition of the second drill is another indication of our aggressive approach to developing the Afton property. At this time both rigs will concentrate on the Ajax targets in order to prepare a preliminary resource on Ajax and begin initial pre-feasibility work by this fall. We will continue to be very aggressive in this phase of drilling, with the plan to complete over 50,000 metres of drilling in 2006."

The following table lists results from holes AW-06-012 to AW-06-016 inclusive. All holes were drilled from the south wall of the Ajax West Pit at drill grid azimuth 028o (UTM). 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. 
 

AJAX DRILL RESULTS

Mineralization at Ajax West consists of disseminated chalcopyrite with minor bornite, tetrahedrite and molybdenite associated with albite alteration within the sugarloaf diorite and hybrid intrusive. Hole AW-06-014 was drilled at a dip of -83o primarily to define and constrain the southern limit of mineralization and the picrite/intrusive contact for future resource modeling, but still intersected over 100 metres of mineralization.

The Company has now completed twenty-one drill holes (10,517 metres) at the Ajax West Pit and three drill holes (1,716) metres at the Ajax East Pit. The continuing diamond drill program will involve drilling below both the pits at 50 metre spacings in order to complete a 43-101 compliant resource model. Assay results will continue to be released in a timely fashion.

Abacus also plans more drilling later in the year to continue testing depth and strike extensions for the previously reported Rainbow and DM-Audra resources.

The Company's Ajax property comprises eight 100 percent owned Crown grants near Kamloops, B.C., encompassing most of the historic East and West pits that were last mined in 1997 by Afton Operating. The Ajax property lies nine kilometers southeast along an existing haul road from the Afton mill facilities, which Abacus recently agreed to purchase from Teck Cominco Ltd. along with the shop facilities and tailings area.

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, P.Geo. and Robert J. Darney, P.Geo., are the qualified persons responsible for the design and conduct of the work performed.

On Behalf of the Board,
ABACUS MINING & EXPLORATION CORP.


Doug Fulcher,
President