January 20, 2005
Giroux Consulting To Prepare Preliminary Resource Estimates On Dm, Audra, Crescent Zones And The Rainbow Zone

Abacus Mining and Exploration Corp. (the "Company") is pleased to announce they have retained Mr. Gary Giroux, MASc. P.Eng. of Giroux Consultants Ltd. to conduct preliminary resource calculations for both the Rainbow and DM/Audra/Crescent zones at the Afton Project near Kamloops, British Columbia. Mr. Giroux is an independent Qualified Person as defined under the National Instrument 43-101.

In 2004, over 30,000 metres of diamond drilling was completed on the DM/Audra/Crescent and Rainbow zones. Company geologists have completed the database compilation and will assist Mr. Giroux in preparing the resource calculations. These resource estimates are expected to be completed in the first quarter of this year and will aid in the planning of the next phase of drilling.


Drilling at the DM/Audra/Crescent zones mainly focused on expanding the open-pit potential for copper-gold mineralization along a 2.5 kilometre strike length. The zones sit within a

5 kilometre long structural corridor that stretches from the Afton Pit deposit to the west, eastwards to the Big Onion deposit. Current work completed by Abacus explored the potential of a large tonnage open pit deposit that would encompass all three zones. 


Drilling on the Rainbow Zone (formally the #2 and #22 zones) confirms that copper-gold mineralization extend over 700 metres in length with widths up to 100 metres and depths of over 500 metres. The 3D Induced Polarization ("3D-IP") geophysical survey completed last year indicates the chargeability anomaly that encompasses the Rainbow zone extends for an additional 500 metres to the northwest and remains untested. The Company is currently exploring the open pit and the underground potential of the zone that extends from near surface and is open at depths beyond 500 metres.

Doug Fulcher, President of the Company states, "We are very encouraged with the drill results on all the zones that have been drilled to date. The preliminary resource estimates are fundamental in the ongoing development of the project. We are looking forward to using this information to plan an aggressive and exciting drill program for 2005."

On Behalf of the Board,

"Paddy Nicol" 

Paddy Nicol

You can view the Next News Releases item: March 29, 2005,Niblack Spinoff Approved

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