March 3, 2008
Abacus Continues Expansion Of Primary Afton Target At Ajax

Intersects 374.78 metres (1,230 feet) of 0.51% copper and 0.41 g/t gold

VANCOUVER, BC March 3, 2008 Abacus Mining & Exploration Corp. ("Abacus" or "the Company") (TSX.V:AME) is pleased to announce additional assay results from the ongoing drill program at the copper-gold rich Ajax and DM zones located in the Afton camp, near Kamloops, BC. The focus of drilling at the Ajax area is to upgrade and expand the mineralized area for a 43-101 compliant resource estimate that includes both Ajax West and East zones, and the area in between. Resource estimates at the Ajax and DM areas are expected to be completed by the end of the second and first quarters, respectively.

The Company currently has four drill rigs operating at Ajax in the area between the previously drilled Ajax West and Ajax East zones. This drilling program will conclude during March and allow for a preliminary economic assessment on the entire Ajax mining area to commence immediately thereafter. Infill drilling will continue at Ajax in preparation for a feasibility study to be completed in early 2009. Abacus is working towards a large scale (40,000 to 60,000 tonnes per day) surface mining operation at Ajax, commencing in 2010.

Ajax West Drill Highlights

  • Hole AW-07-071 intersects 375 metres (1,230 feet) grading 0.51% copper and 0.41 g/t gold, including a deeper 87 metre (285 feet) intercept averaging 1.00% copper and 0.87 g/t gold
  • Hole AW-07-066 intersects 118 metres (387 feet) grading 0.35% copper and 0.11 g/t gold, and a second intercept of 144.5 metres (474 feet) of 0.47% copper and 0.23 g/t gold
  • Hole AW-07-068 intersects 78 metres (256 feet) grading 0.48% copper and 0.38 g/t gold, including a 42 metre (138 feet) intercept averaging 0.55% copper and 0.51 g/t gold

DM Zone Drill Highlights

  • Hole DA-07-073, drilled in the Audra component of the deposit area, intersects 87 metres (327 feet) of 0.35% copper and 0.20 g/t gold and a second zone of 60 metres of 0.29% copper and 0.17 g/t gold
  • Hole DA-07-076, drilled in the DM component of the deposit area, intersects 105 metres (344 feet) of 0.26% copper and 0.08 g/t gold
  • Hole DA-07-078, also drilled in the DM component of the deposit area intersects 57 metres (187 feet) of 0.33% copper and 0.15 g/t gold within a larger intercept of 114 metres (374 feet) grading 0.26% copper and 0.11 g/t gold

About the Ajax West Area

The Ajax property comprises of eight 100% owned Crown grants which include the historic Ajax East and West pits. Also included is an interest in claims between the pits acquired from a joint-venture agreement signed with New Gold Inc.  The Ajax area lies nine kilometres southeast along an existing haul road from the Afton mill, shop facilities and tailings area which Abacus agreed to purchase in 2005 from Teck-Cominco.  Four drill rigs turning on the property have completed over 25,000 feet of drilling to date. It is anticipated that an additional 35,000 feet of drilling will be completed in the Ajax area during March. A 43-101 compliant resource estimate of the entire Ajax area is due to be completed in the second quarter of 2008.

Ajax West Drilling

Section

Hole No.

Dip Deg

Az. Deg

From (m)

To (m)

Length (m)

Copper %

Gold g/t

1300E

AW-07-064

-78

028

147

211

64

0.43

0.17

 

 

 

 

195

205

10

0.93

0.51

 

 

 

 

330

349

19

0.56

0.26

 

 

 

 

438

445

7

2.14

0.59

 

 

 

 

 

 

 

 

 

1400E

AW-07-065

-80.6

028

Drilled in south wall of pit in mafic volcanics. No significant mineralization.

 

 

 

 

 

 

 

 

 

1150E

AW-07-066

-85

028

137.11

255

117.89

0.35

0.11

 

 

 

 

164

193.9

29.9

0.44

0.17

 

 

 

 

220

235

15

0.65

0.22

 

 

 

 

241

255

14

0.54

0.16

 

 

 

 

380.5

525

144.5

0.47

0.23

 

 

 

 

380.5

401

20.5

0.94

0.42

 

 

 

 

380.5

430

49.5

0.67

0.35

 

 

 

 

460

525

65

0.44

0.19

 

 

 

 

 

 

 

 

 

1375E

AW-07-067

-86

208

249

381

132

0.29

0.21

 

 

 

 

315

330

15

0.50

0.38

 

 

 

 

348

381

33

0.41

0.21

 

 

 

 

465

477

12

0.50

0.23

 

 

 

 

 

 

 

 

 

1350E

AW-07-068

-45

028

69

147

78

0.48

0.38

 

 

 

 

105

147

42

0.55

0.51

 

 

 

 

 

 

 

 

 

1550E

AW-07-070

-45

028

14.33

111

96.67

0.32

0.30

 

 

 

 

14.33

28.7

14.37

0.65

0.74

 

 

 

 

 

 

 

 

 

1100E

AW-07-071

-88

025

125

499.78

374.78

0.51

0.41

 

 

 

 

127.1

151

23.9

0.87

0.51

 

 

 

 

403

490

87

1.00

0.87

 

 

 

 

415

457

42

1.40

1.40

*Intercept lengths are core lengths, which do not necessarily reflect true width

About the DM Zone

The Company's 100% owned DM zone lies 1.5 kilometres from the existing infrastructure. Its proximity to existing infrastructure and expected low strip ratio enables Abacus to look at the DM deposit as an important component of a potential multiple pit mining plan at Afton.  This complements and adds to the proposed 2010 production from Ajax and elsewhere.

DM Zone Drilling

Section

Hole No.

Dip Deg

Az. Deg

Hole Length (m)

From (m)

To (m)

Length (m)

Copper %

Gold g/t

21N(Audra)

DA-07-070

-45

312

157.58

33

78

45

0.25

0.12

 

 

 

 

 

 

 

 

 

 

20N(Audra)

DA-07-071

-45

312

107.29

51

66

15

0.29

0.16

 

DA-07-074

-80

312

690.98

314

362

48

0.20

0.22

 

 

 

 

 

446

528

82

0.24

0.16

 

 

 

 

Incl

500

528

28

0.30

0.17

 

 

 

 

 

592

619

27

0.26

0.02

 

 

 

 

 

 

 

 

 

 

19N(Audra)

DA-07-073

-75.5

312

636.12

273

360

87

0.35

0.20

 

 

 

 

 

417

477

60

0.29

0.17

18N(Audra)

DA-07-075

-45

312

185.01

No Significant Intercepts

 

 

 

 

 

 

 

 

 

 

6N(DM)

DA-07-076

-60.8

130.7

537.67

78

183

105

0.26

0.08

 

 

 

 

Incl

78

129

51

0.30

0.11

 

 

 

 

 

147

183

36

0.28

0.08

 

 

 

 

 

270

294

24

0.25

0.10

 

 

 

 

 

342

411

69

0.29

0.16

 

 

 

 

 

 

 

 

 

 

5N(DM)

DA-07-077

-45

132

212.45

66.14

99.67

33.53

0.24

0.08

 

DA-07-078

-60

132

453.24

123

237

114

0.26

0.11

 

 

 

 

Incl

123

180

57

0.33

0.15

*Intercept lengths are core lengths, which do not necessarily reflect true width

About the Afton Area

The Afton properties belonging to the Company lie within a mining camp hosting a number of mined and un-mined alkalic copper-gold, porphyry style deposits.   Since 2002, Abacus has redefined several known deposits through expansion of down-dip and strike extensions. The Company has completed 399,000 feet (121,618 metres) of drilling and developed NI 43-101 compliant indicated resources on the DM and Rainbow deposits, totaling 60.1 million tonnes and an inferred resource at the Ajax West deposit totaling 147,000,000 tonnes (all resources calculated at 0.20% copper cut-off).

This year, an updated DM zone resource will be upgraded by the first quarter and the greater Ajax area will have a compliant resource estimate completed during the second quarter. Upon completion of the resource estimates, Abacus intends to progress the Afton project through preliminary economic studies and into feasibility during the second half of 2008 and completed in early 2009. The Company's goal is to develop, large-scale surface mining operations at Afton producing between 40,000 and 60,000 tonnes per day by 2010.

Eco Tech Laboratory Ltd. of Kamloops, B.C., has completed all of Abacus' analytical work on the project.  A quality-control program, using specific standards and blank samples is in place.  Robert G. Friesen, P.Geo. is the qualified person responsible for the design and conduct of the work performed.

On Behalf of the Board, 
ABACUS MINING AND EXPLORATION CORPORATION 
Doug Fulcher, 
President and Chief Executive Officer

Contact: Tim Mikula, Investor Relations 866-834-0301 [email protected]

Forward-Looking Information

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.

You can view the Next News Releases item: March 25, 2008, Abacus, New Gold And Teck Cominco Sign Definitive Agreements On The Afton-Ajax Project

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