Abacus Appoints Director of Investor Relations
September 17 2009 - 8:00AM
Marketwired
Abacus Mining & Exploration Corporation ("Abacus" or the
"Company") (TSX VENTURE: AME) is pleased to announce the
appointment of Ms. Donna Yoshimatsu as Director of Investor
Relations, effective immediately.
Prior to joining Abacus, Ms. Yoshimatsu has held senior investor
relations and communications positions developing key strategies to
maximize shareholder value. Most notably, Ms. Yoshimatsu worked
with SNC Lavalin Group, Franco-Nevada and Euro-Nevada Mining,
Beutel, Goodman Investment Counsel, and a number of TSX-Venture
listed companies. She holds a Bachelor's degree in Languages,
Linguistics, and English Literature from the University of Toronto.
Ms. Yoshimatsu has completed the Canadian Securities Course and
Level II of the Chartered Financial Analyst program. She is a long
standing member of the Canadian Investor Relations Institute and
serves in its mentorship program for capital markets.
The Company and Ms. Yoshimatsu have entered into an Agreement
(the "IR Agreement") whereby Ms. Yoshimatsu will, from her base in
Toronto, provide investor relations, communications and corporate
finance services to the Company, which will be focused on analysts
and institutional investors in Toronto and throughout North
America. The IR Agreement is subject to TSX Venture Exchange
acceptance and is for an initial one year term (including a three
month probationary period), and renewable thereafter annually at
the mutual agreement of the parties. For her services under the IR
Agreement, Ms. Yoshimatsu will receive compensation of $5,500 per
month and has been granted 100,000 incentive stock options at a
price of $0.25 per share, for a period of five years from the date
of grant. Other than such stock options and her position as set
forth in the IR Agreement, the Company understands that Ms.
Yoshimatsu does not, directly or indirectly, have any interest in
the Company or any securities of the Company.
About the Company
Abacus Mining is a junior exploration and development company
with a 43-101 compliant positive preliminary economic assessment
report (announced June 22, 2009) for its Ajax copper/gold project
located 10 km southwest of Kamloops, British Columbia. The report
contemplates a 60,000 tonne per day operation producing an average
106 million pounds of copper and 99,400 ounces of gold in
concentrate annually. Sensitivity analyses approximating metal
prices (US$2.75 per pound copper and US$1,000 per ounce gold) in
the assessment indicate a NPV of $1.2 billion discounted 8% over a
23 year mine life, with an IRR of 31.3%, cash costs of $0.90 per
pound copper, and payback of 2.3 years. The Ajax extension remains
open along strike and at depth.
On Behalf of the Board
ABACUS MINING & EXPLORATION CORPORATION
Doug Fulcher, President and Chief Executive Officer
Forward-Looking Information
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 Corporation (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. 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 & Exploration Corporation Tim Mikula
Investor Relations 866-834-0301 or 604-682-0301 604-682-0307 (FAX)
info@amemining.com www.amemining.com
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