Abacus Mining and Exploration Corp. (TSX.V:AME) (the "Company") is pleased to announce additional assay results from the diamond drill program on the 100 percent owned Ajax West and Ajax East portion of the Company's Afton project. The project is located approximately ten kilometres south of Kamloops, BC. 

Highlights

• Ajax West drill hole AW-06-20 intersected the copper-gold rich mineralization found beneath the mine pit. The entire interval totals 345 metres grading 0.44% copper and 0.29 g/t gold with higher grade sub intervals including 42 metres of 0.91% copper and 0.84 g/t gold.
• Drilling at the Ajax West pit has defined a zone with a strike length of over 350 metres with a depth of at least 300 metres. The mineralization remains open on strike and at depth.
• First drilling by Abacus beneath the Ajax East pit confirms the presence of copper-gold rich mineralization. Drill hole AE-06-01 intersected 167 metres grading 0.45% copper and 0.30 g/t gold.

Drill results from the Ajax West and East pits are tabled below. 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 WEST PIT DRILL RESULTS
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                            Hole                  Core 
                     Dip  Length   From    To   Length  Copper  Gold
Section   Hole No.  (deg)     (m)    (m)   (m)      (m)      %   g/t
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1500E   AW-06-017    -44  370.94    144   348      204    0.39  0.25
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             Incl.                  144   291      147    0.45  0.29
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                                    144   222       88    0.45  0.28
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                                    144   177       33    0.54  0.32
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                                    195   291       96    0.47  0.31
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                                    258   291       33    0.73  0.53
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1500E   AW-06-018  -64.8  562.97    157   385      228    0.45  0.16
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             Incl.                  157   265      108    0.57  0.19
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                                    157   205       48    0.65  0.24
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                                    358   385       27    0.59  0.19
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1500E   AW-06-019 -79.2   514.2    183   474      291    0.12  0.07
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             Incl.                  354   372       18    0.25  0.52
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                                    450   474       24    0.31  0.14
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1200E   AW-06-020  -60.6  652.58    166   511      345    0.44  0.29
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             Incl.                  175   232       57    0.64  0.37
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                                    307   421      114    0.61  0.48
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                                    379   421       42    0.91  0.84
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AJAX EAST PIT DRILL RESULTS
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                          Hole                 Core
                   Dip  Length   From     To Length Copper Gold   Pd
Section  Hole No. (deg)     (m)    (m)    (m)    (m)     %  g/t  g/t
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1450N  AE-06-001 -49.6  535.53 118.85    167  48.15   0.20 0.14 0.26
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                                  297    464    167   0.45 0.30    -
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            Incl.                 297    357     60   0.55 0.35    -
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                                  297    321     24   0.81 0.54    -
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                                  384    423     39   0.57 0.40    -
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1450N  AE-06-002 -63.1  605.64    131    161     30   0.20 0.16 0.11
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                                  308 351.35  43.35   0.72 0.41    -
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                                  482    500     18   0.10  .91
                                                         (uncut)   -
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                                  509    583     74   0.46 0.79
                                                         (uncut)   -
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            Incl.                 509    529     20   0.63 2.15
                                                         (uncut)   -
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                                  559    583     24   0.68 0.54    -
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Ajax West Pit Drilling

Holes AW-06-017 to AW-06-020 continue to define the large zone of copper-gold mineralization below the existing West Pit. 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. The best mineralization continues to be associated with the east-west striking, steeply dipping, variably albitized contact zone of the Sugarloaf and Hybrid diorites. Drill hole AW-06-019 was not drilled across the mineralized zone but rather drilled steep alongside the south pit wall on Section 1500E to help define and constrain the picrite/intrusive contact and the mineralized zone.

Ajax East Pit Drilling

Southeasterly directed Holes AE-06-001 and AE-06-002, located the middle portion of the Ajax East Pit have both intersected what is believed to be the down-dip extension of the northwest dipping copper-gold-palladium zone previously mined by Afton Operating Corp., as well as what may be another previously undefined footwall zone with drill intercept thicknesses of up to 167 metres.

The upper, mineralized intercepts are interpreted to represent the down-dip extension of the original Ajax East zone, and are characterized by copper-gold-palladium mineralization in Sugarloaf diorite proximal to a large wedge of "gabbroic" pyroxene hybrid intrusive; whereas the deeper, wider intercepts of copper-gold mineralization are located within Sugarloaf diorite and associated with patchy, but widespread K-spar alteration, gypsum veins and purple anhydrite veins.

About the Drill Program

A total of 50,000 metres of diamond drilling is planned for the Afton project in 2006. Currently, there is a diamond drill at each pit drilling the two deposits at 50 metre sections. Upon completion of the drill program, Abacus plans to finalize a 43-101 compliant resource estimate by this Fall.

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 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, PGeo and Robert J. Darney, PGeo, 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


Abacus Mining and Exploration Corp.
Doug Fulcher or Paddy Nicol
(604) 682-0301

Abacus Mining and Exploration Corp.
Doug Fulcher or Paddy Nicol
(604) 682-0301

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. Actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.