Vancouver, BC - November 17, 2015. Abacus Mining & Exploration Corporation ("Abacus" or the "Company") (TSXV:AME) announces that the Board of Directors have approved the issuance of 1,000,000 stock options to directors of the Company. The stock options, provided under the Company's approved stock option plan, are exercisable at a price of $0.065 per share for a period of five years from the date of grant, and are subject to regulatory policies. Total outstanding options represent only 2.7% of the issued and outstanding capital of the Company.
At the Company's Annual General Meeting held on September 15, 2015, all matters placed before the Meeting were passed. Mr. Michael McInnis and Mr. Tom McKeever were re-elected as Directors, and Mr. Kerry Spong and Mr. John McConnell were elected as Directors. The Company wishes to thank Mr. Louis Montpellier and Mr. Vic Lazarovici for their past service as Directors.
On Behalf of the Board,
ABACUS MINING & EXPLORATION CORPORATION
Chairman, President & CEO
Abacus is a mineral exploration and mine development company with a 20% interest in the feasibility stage 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.
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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