AME Abacus Mining and Exploration Corporation

Abacus Mining & Exploration Corporation (TSX VENTURE:AME) ("Abacus" or the
"Company") is pleased to announce the appointment of James D. (Jim) Excell,
B.A.Sc., to the position of President & Chief Executive Officer of the Company
effective immediately.


Mr. Excell is a Metallurgical Engineer with extensive senior executive, mine
management and process engineering experience. His career includes more than
three decades with BHP Billiton in Canada and internationally, serving as
President and COO of BHP Billiton Diamonds Inc. from 1999 to 2003, and as its
Chairman to June 2005. He has been responsible for overseeing the management and
development some of the world's premier mining projects, including the EKATI
diamond mine in the Northwest Territories, where he led the construction,
commissioning and subsequent operation of the $700 million development. Jim also
managed copper operations in British Columbia, as well as metallurgical and
thermal coal mines in Australia and the U.S. In addition to his outstanding
industry experience, he is recognized for fostering goodwill relations with
government and aboriginal groups.


A recipient of numerous awards for his significant contributions to the business
community at large and mining industry in particular, Jim was nominated Resource
Person of the Year by the Alberta Chamber of Commerce, Businessman of the Year
from the NWT Chamber of Commerce, and on behalf of BHP Billiton Diamonds Inc.,
the Viola R. MacMillan Developers Award for outstanding leadership in management
and financing for exploration and development of mineral resources.


He takes over from Douglas Fulcher who has held the office since 2003, from the
acquisition of the Afton-Ajax project through to its current status as an
advanced stage development project.


Tom McKeever, Executive Chairman of Abacus offered his gratitude on behalf of
the Board: "Doug has been a forerunner in junior exploration and his involvement
in Abacus as a director goes back to 1993. He has built a proven team which has
brought the project to a successful juncture that a strong mining management
team led by Jim Excell and Andy Pooler can drive it forward with the expertise
required. This transition would not be possible without the foresight and
unwavering belief in the Company and the project that Doug has demonstrated. We
are grateful for his leadership and dedication."


Doug Fulcher commented, "It was always the belief that when Abacus was ready to
transition from an early exploration-development company to an advanced stage
development and mining company it would be appropriate to put in place a CEO
with a strong mining and operating management background. That time has come,
and I am proud to have led Abacus through this transformation to an exciting
future with joint venture partner KGHM for the Afton-Ajax project and other
opportunities." Doug has agreed to be available to the Joint Venture company
upon closing as a consultant.


The Company expects to be in a position to close the Definitive Agreement with
KGHM for the Joint Venture by mid-August.


On Behalf of the Board,

ABACUS MINING AND EXPLORATION CORPORATION

Tom McKeever, Executive Chairman

About Abacus

Abacus is an exploration and mine development company with a 43-101 compliant
positive preliminary economic assessment report (announced June 22, 2009) for
its Ajax copper/gold project located 10 kms southwest of Kamloops, British
Columbia. The report contemplates a 60,000 tonne per day operation producing an
average of approximately 110 million pounds of copper (approx. 50,000 tonnes)
and 100,000 ounces of gold in concentrate annually. Sensitivity analyses
approximating metal prices (US$3.00 per pound copper and US$1,000 per ounce
gold) in the assessment indicate a NPV of $1.46 billion discounted 8% over a 23
year mine life, with an IRR of 35.4%, cash costs of $0.90 per pound copper, and
payback of 2.0 years. The Ajax extension remains open along strike and at depth.
Mineral resources that are not mineral reserves do not have demonstrated
economic viability.


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
Corp. (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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