Ajax joint venture area drilling continues

Abacus Mining & Exploration Corp., a Vancouver based mining company publicly traded on the TSX Venture Exchange, announces the release of assay results from 29 more drill holes on the Ajax joint venture area with New Gold Inc.; in which Abacus may earn a 60% interest.

The company said that all 29 holes were drilled on the property in 2008 from Sections 1750E to 2000E inclusive, covering a strike length of 250 metres east of the Ajax West pit.

The focus of this joint venture drill program has been to test for continuity of copper, gold mineralization between the Ajax West and East pits.

This could allow for the expansion of the East and West pits into one large scale open pit mining operation. The information from this drilling will be incorporated into the combined Ajax resource estimation which is currently in progress.

Seventy-three holes totalling 30,625 metres (100,476 feet) were collared on the joint venture property from November 2007 until April, 2008.

Eighteen holes drilled in late 2007 were reported previously and twenty-six holes remain to be released that cover the area further east from sections 2050E to 2250E.

The results continue to provide support for Abacus’ proposed exploration model of locating sufficient continuity of copper-gold mineralization to potentially support a large scale open pit mining operation.

The company said it is encouraging to note that 25 of the holes reported here had one or more significant mineralized intercepts greater than 30 metres (about 100 feet) in length; including 11 holes with one or more significant intercepts ranging in length from 100 metres (328.1 feet) to 319.52 metres (1048.3 feet).

The company said that the remaining 26 holes will be released shortly.