VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/20/15 -- Abacus Mining & Exploration Corporation ("Abacus" or the "Company") (TSX VENTURE: AME) announces that the Board of Directors have approved the issuance of 1,540,000 stock options to directors, employees, officers and consultants of the Company.
The stock options, provided under the Company's approved stock option plan and resulting from an annual compensation review, are exercisable at a price of $0.05 per share for a period of five years from the date of grant.
To date, total outstanding options represent only 4% of the issued and outstanding capital of the Company. The stock option grants are subject to regulatory approval.
On Behalf of the Board,
ABACUS MINING & EXPLORATION CORPORATION
Michael McInnis, Chairman, President & CEO
About Abacus
Abacus is a mineral exploration and mine development company with a 20% interest in the Ajax copper-gold project located at the historic Ajax-Afton site southwest of Kamloops, B.C. Through a joint venture between Abacus and KGHM Polska Miedz S.A. through KGHM Ajax, the Ajax project is a proposed open-pit mine with an estimated approximate 23-year mine life expected to yield approximately 109 million pounds of copper and 99,000 ounces of gold annually. (see Report titled "Ajax Copper/Gold Project -- Kamloops, British Columbia Feasibility Study Technical Report" by Wardrop (a Tetra Tech Company) dated January 6, 2012 ("FS")).
The technical information in this news release has been reviewed and approved by Michael McInnis, P.Eng., Abacus's Chairman, President & CEO and a qualified person within the meaning of National Instrument 43-101.
Forward-Looking Information
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.
Contacts:
Abacus Mining and Exploration Corp.
Michael McInnis
Chairman, President & CEO
604.682.0301
604.682.0307 (FAX)
info@amemining.com
www.amemining.com
