VANCOUVER, BC July 2nd, 2008 Abacus Mining & Exploration Corp. ("Abacus" or "the Company") (TSX.V:AME) is pleased to announce the appointment of Mr. Louis G. Montpellier to the board of directors. The appointment of Mr. Montpellier is a significant step forward in adding expertise to the board of directors of Abacus as well as the restructuring of an independent board for the company. Mr. Montpellier has a distinguished career in practising law in Vancouver, British Columbia since 1981, where a majority of his time has been spent with public mining and exploration companies.
Abacus also announces the appointment of Thomas McKeever as executive chairman of the board of directors. Mr. McKeever has been a director of Abacus since March of 2007 and was appointed chairman of the board in November 2007. As executive chairman, Mr. McKeever will provide oversight for the management team to accelerate the Afton project through development.
"We are extremely pleased to have attracted an individual with Louis Montpellier's experience and qualifications," said Doug Fulcher, President and CEO. "With the appointment of Mr. Montpellier as a director and the added involvement of Mr. McKeever as executive chairman, we can now see the restructuring of an independent board as well as the expertise to the management team. This will benefit Abacus for rapid development of our copper-gold resources in the Afton mining camp."
"Abacus has an outstanding opportunity in the near term to redevelop large scale surface mining operations at Afton Ajax", said Mr. McKeever. "I am pleased to play a more active role in pursuit of that goal. We are adding management talent and Board oversight at a critical time in the Company's growth. That process will continue."
Louis Montpellier has been practising law in Vancouver, British Columbia since 1981 and since 1983 has worked exclusively in the capital markets as counsel to emerging issuers and listed public companies engaged in mineral exploration and mining.
During that period, Mr. Montpellier has assisted a wide range of businesses in the entire spectrum of corporate finance activities, from accessing seed capital for private companies through to IPO's and subsequent public and private financings. Mr. Montpellier has worked extensively in the field of mergers and acquisitions, hostile and friendly take-over bids, proxy contests, corporate reorganizations and arrangements. Mr. Montpellier also has experience in debt and project financing, acting both for lenders and borrowers, with a particular emphasis on the financing of mineral projects.
During the course of his practice, Mr. Montpellier has been requested to act as an outside director for a variety of public mineral exploration companies and has travelled throughout the developed and developing world to negotiate the purchase, sale and joint venturing of exploration projects on behalf of those companies.
His areas of practice and his business experience have allowed him to develop a broad network of global contacts in the mining, financing and legal communities, as well as long-standing relationships with stock exchange and securities regulators in various jurisdictions.
Mr. Montpellier is identified in a number of publications including the Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada, the Lexpert Guide to the Leading 100 Industry Specialists in Canada, Who's Who Legal, the International Who's Who of Mining Lawyers, and The Best Lawyers in Canada, as one of Canada's leading mining lawyers. Mr. Montpellier also has a wide range of experience in the mineral exploration and development business.
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.
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