May 15, 2007
Abacus Increases Private Placement For Afton Property

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER May 15, 2007 Abacus Mining & Exploration Corp. (the "Company") (TSX.V:AME) has agreed to increase the flow-through portion of its brokered private placement announced on May 7, 2007. The Company will now issue up to 11.25 million flow-through units (the "Flow-Through Units") at a price of $0.80 per Flow-Through Unit. All other terms of the offering remain the same. The total gross proceeds of the offering will be up to $17,050,000. The offering is being led by a syndicate of agents including Pacific International Securities Inc. and Dundee Securities Corp.

Proceeds from the offering will be used to finance further exploration and development of the Company's Afton property and for general working capital. The flow-through funds raised from the offering will be used for general exploration expenditures, which will constitute Canadian exploration expenses (as defined in the Canada Income Tax Act) and will be renounced for the 2007 income tax year.

The offering is subject to receipt of all necessary approvals, including the approval of the TSX Venture Exchange. 

On Behalf of the Board,
ABACUS MINING & EXPLORATION CORPORATION

"Doug Fulcher"

Doug Fulcher,
President, CEO


The TSX Venture Exchange has neither reviewed or approved the accuracy or adequacy of this news release.


This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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: May 31, 2007, First Assay Results Continues Expansion Of Ajax Area

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