Abacus Provides Update on Willow - Seite 2

Abacus has the right to earn a 75% ownership interest in the Willow property from Almadex America Inc, a wholly owned subsidiary of Almadex Minerals Ltd. The Company also has a lease on the contiguous Nev-Lorraine claims giving it the right to explore and to elect to purchase these claims outright over a ten-year period.

Abacus also holds a 20% ownership interest in the Ajax copper-gold porphyry project, located near Kamloops, British Columbia., which is managed by base metal major KGHM Polska Miedź S.A., who hold the remaining 80%. The Ajax Project contains significant quantities of copper and gold, within a NI 43-101 Proven and Probable Mineral Reserve of 426 Mt at 0.29% Cu, 0.19 g/t Au and 0.39 g/t Ag. Contained metal is in the order of 2.7 Bil lbs Cu, 2.6 Moz Au and 5.3 Moz Ag**.

Abacus also controls the Jersey Valley gold property, where an initial drill campaign has just started. This property is prospective for epithermal precious metal mineralization in an active hydrothermal environment, like the Taupo volcanic zone in New Zealand, and is also prospective for Au-Ag skarns. The property has a well-maintained sealed road running through it, which provides access to a 15 MW geothermal power plant located on the claim group.

Jersey Valley is within the Battle Mountain trend of north-central Nevada in close proximity to both the Phoenix/Fortitude mine complex, a gold skarn with approximately 14 Moz gold plus significant Ag and Cu past production and a proposed mine life to 2063, and the Cove/McCoy Mine, a Carlin-type gold deposit with 3.4 Moz gold and 110 Moz Ag past production (data is from the Newmont Mines and Premier Gold Mines websites. The reader is cautioned that the mineralization hosted on nearby properties is not necessarily indicative of mineralization hosted on the Company’s Jersey Valley gold property).

Abacus is also pleased to announce that the Board of Directors has approved the grant of stock options to directors, officers, employees and consultants of the Company allowing for the acquisition of up to, in the aggregate, 2,030,000 shares of the Company. The grant is a result of the Company’s annual compensation review and the issuance is made under the Company’s approved stock option plan. The options are exercisable at a price of $0.15 per share for a period of five years from the date of grant and are subject to regulatory policies.