Abacus Mining and Exploration Corp.
TSX VENTURE : AME

Abacus Mining and Exploration Corp.

November 24, 2015 09:00 ET

Abacus Announces Ajax Project Application/EIS Passes Government Screening

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 24, 2015) - Abacus Mining & Exploration Corporation ("Abacus" or the "Company") (TSX VENTURE:AME) is pleased to announce that the Ajax Project's Application/Environmental Impact Statement (the 'Application/EIS') has passed through the screening process by the B.C. Environmental Assessment Office and has been accepted for formal review. This clears the way for official submission of the Application/EIS to the provincial and federal governments.

The Application/EIS, which incorporates extensive work conducted by the independent consultants comprising scientists, engineers and researchers who looked at key environmental, health and social issues, is expected to be officially submitted on January 4, 2016, when it is to be released to the public for full review. This timeframe will allow for revisions in response to comments from First Nations and the Ajax Project Working Group.

Following submission of the Application/EIS, a 75-day public commenting period will take place during which a number of open houses and other initiatives are planned to enhance understanding of its contents, including plain language summaries and fact sheets of key studies. These studies demonstrate the extent to which the Ajax mine has been designed to mitigate the impacts, while providing the maximum benefit to the community.

On Behalf of the Board,

ABACUS MINING & EXPLORATION CORPORATION

Michael McInnis

Chairman, President & CEO

About Abacus

Abacus is a mineral exploration and mine development company with a 20% interest in the Ajax Project located at the historic Ajax-Afton site southwest of Kamloops, B.C. The Ajax Project is a proposed copper-gold open-pit mine currently in the submission stage of a provincial and federal environmental assessment process. Through KGHM Ajax Mining Inc., a joint venture company between Abacus (20%) and KGHM Polska Miedz S.A. (KGHM) (80%), the mine is being funded in large part by KGHM and operated by its wholly-owned subsidiary, KGHM International Ltd. For the latest reports and information on the Ajax Project, please refer to the Company's website at www.amemining.com.

Forward-Looking Information

This release includes certain statements that are deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Abacus expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include changes to commodity prices, mine and metallurgical recovery, operating and capital costs, foreign exchange rates, ability to obtain required permits on a timely basis, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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