AME Abacus Mining and Exploration Corporation

Abacus Mining & Exploration Corporation (the "Company" or "Abacus") (TSX
VENTURE:AME) is pleased to announce the start of drill programs at the Ajax
deposit and Ajax East Extension ("AEE") area, a near-surface copper-gold rich
zone fault offset immediately east of the Ajax deposit. Three drill rigs have
been assigned to the programs and are expected to be completed by mid-December.
Both the Ajax deposit and the AEE are 100 per cent owned by Abacus.


The focus of the drill programs is two-fold: to convert approximately 80 million
tonnes of inferred resources to a measured and indicated status (announced June
22, 2009) for Prefeasibility work, and to determine the viability of including
the AEE in the Prefeasibility Study mine plan. Two drill rigs currently assigned
to the Ajax deposit and the AEE plan to complete approximately 7,500 metres of
drilling over 25 holes.


Doug Fulcher, President of Abacus states, "We are pleased that this phase of
work is now underway as it upgrades the status of our deposit, estimated to
contain approximately 3.0 billion pounds copper and 2.7 million ounces gold. In
addition, drilling in the AEE could provide additional tonnage to the Ajax
deposit, and could have a positive impact on our strip ratio, decrease the
pay-back period, and increase the overall value of the project. This data will
be incorporated into the Company's Prefeasibility Study, planned to commence
shortly."


One drill rig assigned to geotechnical work at the Ajax deposit is based on
recommendations from the Preliminary Economic Assessment ("PEA") for
Prefeasibility Studies. The geotechnical drilling will provide an evaluation of
the potential pore pressures of the pit walls along with associated groundwater
inflows to define slope stability and dewatering cost estimates. Sub-surface
structural geology data will also be collected to confirm that the orientations
of the geologic structures mapped at surface are consistent with those at depth.


About the Company

Abacus Mining is an 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 kilometres 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.


Eco Tech Laboratory Ltd. of Kamloops, B.C., will complete all of Abacus'
analytical work on the project. A quality-control program, using specific
standards and blank samples is in place. Robert G. Friesen, P.Geo., the
Company's Senior Geologist, is the Qualified Person responsible for the design
and conduct of the work performed.


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.

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