Abacus Mining and Exploration Corp.

Abacus is a mineral exploration and mine development company focused on Copper in the America's. 

The Company has a 20% interest in the advanced stage Ajax copper-gold project located at the historic Ajax-Afton site southwest of Kamloops, B.C. The property is held through KGHM Ajax Mining Inc., a joint venture company owned by Abacus (20%) and KGHM Polska Miedz S.A. (KGHM) (80%).

Abacus also has an option to acquire up to a 75% interest in the Willow copper-gold porphyry property near Yerington, Nevada, a region known for past copper-gold production. The Company recently added the Contiguous Nev-Lorraine claims, in a lease agreement with an option to purchase this property outright.

The Company is led by a highly experienced management and technical team, with significant experience in copper exploration and development, supported by a highly regarded board of directors with substantial M&A and capital market experience.

Ajax Project Summary
Supersedes Feasibility Study of January 6, 2012

  • Total proven and probable mineral reserves of 2.7 bil lbs Cu, 2.6 mil oz Au and 5.3 mil oz Ag at 0.29% Cu, 0.19 g/t Au and 0.39 g/t Ag.*
  • 18 year mine life at avg processing rate of 65,000 tpd; overall stripping ratio of 2.65:1
  • Avg annual production of Cu and Au in concentrate of 58,000t Cu and 125,000 oz Au
  • Initial capital expenditures of $1.307 billion
  • Pre-tax NPV (8%) = $429.4 M Pre-tax NPV (5%) = $872.5 M
  • Pre-Tax IRR 13.4%; payback (years) 6.5
*Based on LOM metal prices of Cu: US$3.21/lb, Au: US$1,200/oz, Ag: US$17/oz

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