ABACUS MINING & EXPLORATION CORP

Abacus Mining & Exploration announced that it has signed Option to Purchase Agreements with subsidiaries of Teck Resources - Afton Operating Corporation and Surgarloaf Ranches Limited (collectively “Teck”) to acquire approximately 6,000 acres of land around our Afton Ajax deposit. Under the terms of the Option Agreements the Company will pay an aggregate of $100,000 to Teck for the options and will then have 2 years to elect to exercise the options, or have the right to extend the exercise period of the options by an additional 1 year by making further option payments to Teck of an additional $100,000. The exercise price of the options is $2,500 per acre, exercisable at any time during the two year period, less amounts paid to Teck for the options.