VANCOUVER, British Columbia, March 28, 2022 (GLOBE NEWSWIRE) — Abacus Mining & Exploration Corporation (“Abacus” or the “Company”) (TSXV:AME) is pleased to announce that the Board of Directors has approved the granting of stock options to directors, officers, employees and consultants of the Company allowing the acquisition of up to a total of 3,050,000 shares of the Company. The grant is the result of the Company’s annual compensation review and the issuance is made under the Company’s approved stock option plan. The options are exercisable at a price of $0.07 per share for a period of five years from the date of grant and are subject to regulatory policies.
On behalf of the Board of Directors,
ABACUS MINING & EXPLORATION CORPORATION
Paul G. Anderson, geo.
President and CEO
Abacus is a mining exploration and development company currently focused on copper and gold in British Columbia and Nevada. The Company’s principal asset is a 20% interest, together with KGHM Polska Miedź SA (80%), in the Ajax copper-gold mine project located southwest of Kamloops, British Columbia, which has subject to a joint provincial and federal environmental assessment process. On December 14, 2017, a decision was made by the British Columbia Minister of Environment and Climate Change Strategy and the Minister of Energy, Mines and Petroleum Resources to decline to issue a environmental assessment certificate for the project. KGHM recently re-opened an office in Kamloops, BC to facilitate First Nations, community and government engagement to move the project forward towards possible resubmission of the environmental application.
Abacus also holds an option on the Willow copper-gold property located near Yerington, Nevada, in which it can acquire up to a 75% interest, as well as on the contiguous Nev-Lorraine claims subject to a ten years.
For the latest reports and project information from Abacus, please visit the company’s website at www.amemining.com.
This release includes certain statements that are considered “forward-looking statements.” All statements in this release, other than statements of historical fact, 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 to ”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “could”, “could” or “should” occur. Although the Company believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include changes in raw material prices, mining and metallurgical recovery, operating and capital costs, currency exchange rates, capacity to obtain required permits in a timely manner, successful mining and exploration, the continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that such statements are not guarantees of future performance and that 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 as of the date the statements are made. Except as required by applicable securities laws, the Company assumes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.
Neither the 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.