| ||June 11, 2007|
Positive Metallurgical Results From Abacus's Afton Project
Vancouver, BC -- June 11, 2007 - Abacus Mining and Exploration Corp. (TSXV:AME) (Abacus), is pleased to release results from the initial metallurgical testing on the company's Afton Project. Initial test work was conducted by G & L Metallurgical Services Ltd. on material from the Ajax West deposit where Abacus recently announced a 43-101 compliant inferred resource of approximately 150 million tons grading 0.36% copper and 0.23 g/t gold using a 0.20% copper cut off. |
Results from the initial test work indicate recoveries of 90% for copper and 85% for gold and produced a concentrate grading 28.8% copper and 17.8 g/t gold. This represents a significant increase in both recoveries and concentrate grades from the historic results from the Ajax pits. Historic recoveries were reported at 83% for copper and 75% for gold producing a concentrate grading 21% copper and 15.0 g/t gold. These new results indicate an 8.4 % increase in the copper recovery, a 13% increase in the gold recovery, a 37% increase in the concentrate copper grade and a 19% increase in the concentrate gold grade.
Material used in this work was selected from a number of drill holes located throughout the deposit to represent anticipated Run of Mine ore from the Ajax Pit and totalled 589 kilograms in weight. Five individual composite samples were prepared representing a range of potential feed grades for individual testing. Portions of four of these samples were blended to prepare a master composite sample for more extensive work.
The grade of the master composite sample was very similar to grades reported in resource calculations for the deposit and to historical grades reported from previous production from the upper portions of the deposit by Tech in the late 1980's.
The company is extremely pleased with these results and further test work will be conducted to see if any further improvements can be made. The increased recoveries and concentrate grades will have a significant positive impact on any future economic studies completed by Abacus.
Abacus currently has three drills active on the Afton project. The initial drill program on the Ajax East deposit (1000 metres east of Ajax West) is almost complete. A 43-101 compliant resource for Ajax East will be completed once all results from the first phase program are received. Initial economic studies incorporating both the Ajax East and Ajax West deposits will be conducted along with the resource calculation and are expected late in 2007.
Abacus is very pleased with current development of its Afton assets and is working towards the completion of a feasibility study by mid 2008.
On Behalf of the Board,
ABACUS MINING & EXPLORATION CORPORATION
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Abacus Mining and Exploration Corp. (the "Company") 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 market prices, exploitation and exploration successes, and 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. 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.
The TSX Venture Exchange has neither reviewed or approved the accuracy or adequacy of this news release.
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