Abacus Mining & Exploration Corporation ("Abacus" or the "Company") (TSX
VENTURE:AME) announces that further to its news release of May 4th, 2010, the
Company and KGHM Polska Miedz S.A. ("KGHM") have agreed to extend the closing
date for signing the definitive Shareholders Agreement (the "Agreement") that
will be entered into between the Company and KGHM and the associated funding of
the joint venture company to October 8, 2010 but in any event, no later than
October 12, 2010. The Company and KGHM had previously agreed to close the
Agreement on September 30, 2010.


On May 4th, 2010, the two companies agreed to form a Joint Venture to develop
the Ajax copper-gold project, near Kamloops, B.C. through bankable feasibility
to production. The Joint Venture transaction was overwhelmingly approved by
shareholders of the Company at a Special Meeting of Shareholders held on June
23, 2010. 


On Behalf of the Board, 

ABACUS MINING & EXPLORATION CORPORATION

James D. Excell, President & CEO

Donna Yoshimatsu, Director Investor Relations

dyoshimatsu@amemining.com

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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