Abacus Mining Announces Management and Board of Director Changes

Abacus Mining Announces Management and Board of Director Changes 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/03/14 -- Abacus
Mining and Exploration Corporation (TSX VENTURE:AME) ("Abacus" or the
"Company") announces that effective February 1, 2014, the following
management and board of director changes have been made. 
Mr. James Excell has resigned as President, CEO and a director of
Abacus effective immediately, in order to pursue other business
opportunities. Mr. Thomas McKeever will retire as Executive Chairman
of the Company, but will remain a director of Abacus. Effective
immediately, Mr. Michael McInnis will assume the role of Chairman,
President & CEO of the Company. 
Mr. McInnis is a professional geologist with over 25 years of
experience successfully managing junior mining companies, most
recently as President and CEO of Riverstone Resources Inc., now True
Gold Mining Inc. where he is presently Vice-Chairman. He has been a
director of Abacus since 2002 and is a director of a number of other
junior mining companies. 
Mr. McInnis said: "On behalf of the Board, I would like to thank Jim
and Tom for all their efforts over the years in managing the Company
and overseeing our Ajax Joint Venture. Abacus remains committed to
increasing the value of our 20% interest in the Ajax copper/gold
project near Kamloops, B.C. as well as pursuing other opportunities
to increase shareholder value." 
On Behalf of the Board, 
Michael McInnis, Chairman, President & CEO 
About Abacus 
Abacus is a mineral exploration and mine development company with a
20% interest in the feasibility stage Ajax copper-gold project
located near Kamloops, B.C. The Ajax Project is a joint venture
between Abacus Mining & Exploration Corporation and KGHM Polska Miedz
S.A. through KGHM Ajax. The Ajax project feasibility study supports
production of a total of 2.5 billion lbs of copper and 2.28 million
ozs of gold in concentrate, or an average of approximately 109
million lbs of copper and 99,000 ozs of gold annually, over a 23 year
mine life. Total proven and probable mineral reserves are estimated
at 3 billion lbs Cu and 2.7 million ozs Au at 0.27% Cu and 0.17 g/t
Au based on $2.50 Cu and $1,085 Au. The proposed mine plan envisages
a conventional open pit operation processing 60,000 tonnes per day or
21.9 million tonnes per year of ore. (see Report titled "Ajax
Copper/Gold Project -- Kamloops, British Columbia Feasibility Study
Technical Report" by Wardrop (a Tetra Tech Company) dated January 6,
2012 ("FS")). 
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.
Abacus Mining and Exploration Corporation
604.682.0307 (FAX)
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