KGHM Ajax Participates in Open House for Ajax Project Community Relations Office Opening in Kamloops, B.C.
June 23 2011 - 7:00AM
Marketwired
Abacus Mining & Exploration Corporation (TSX VENTURE: AME)
("Abacus") through its joint venture development company KGHM Ajax,
participated in the first of several public comment sessions
regarding the proposed Ajax copper-gold project located southwest
of Kamloops, B.C.
An open house was conducted on June 16, 2011 by the Canadian
Environmental Assessment Agency (CEAA) and the B.C. Environmental
Assessment Office (EAO) as part of the public review process. The
forum was presented in a town hall format, seeking comments from
the public to ensure that all issues are appropriately considered
for evaluation in the environmental assessment. Representatives
from KGHM Ajax met with the public to discuss the project, and
provided information to the assembled attendees as part of the
government presentation.
Jim Excell, President & CEO of Abacus commented, "The open
house was a positive step in interfacing with the community and
listening to their views, building on the many focused meetings
we've conducted over the past months with local stakeholder groups.
We aim to work alongside each and every person involved or impacted
and demonstrate that we will minimize, to the best that modern
technology can provide, the environmental footprint while
generating significant long-term employment and economic benefits
to Kamloops, the local workforce and First Nations groups."
The Environmental Assessment Review Process was initiated in
February this year with the submission of the Project Description
of the Ajax copper-gold project to the British Columbia
Environmental Assessment Office and the Canadian Environmental
Assessment Agency. This description is available on the website of
the British Columbia Environmental Assessment Office
(www.eao.gov.bc.ca). The Environmental Assessment Process is being
managed by Knight Piesold, an international group of consulting
engineers and environmental scientists, who since 2007 has been
engaged in extensive environmental baseline studies, archaeological
work, and analysis of in situ parameters at the site.
The Ajax Project is being developed by KGHM Ajax Mining Inc., a
B.C. corporation held 49% by Abacus, the operator, and 51% by KGHM
Polska Miedz S.A. ("KGHM"). The project involves a previously mined
area and is equipped with excellent access to infrastructure put in
place by former mining operations.
With a currently projected mine life of 23 years, the Ajax
project is being planned to be an integral part of the community,
creating several hundred jobs in the construction and operational
stages, contributing to the local economy in Kamloops and the
Province as a whole, and providing economic stimulus to businesses
in the region.
KGHM Ajax has recently established a community relations office
in Kamloops at 330 Seymour Street to encourage community
involvement and provide effective two-way communication and
outreach with residents. Further contact details will be available
shortly.
On Behalf of the Board,
ABACUS MINING AND EXPLORATION CORPORATION
James D. Excell, President & CEO
Donna Yoshimatsu, Director, Investor Relations
About Abacus
Abacus Mining is an exploration and mine development company
focused on the development of the Ajax copper-gold project located
southwest of Kamloops, B.C. through the KGHM Ajax Joint Venture
with KGHM Polska Miedz SA. The project has a positive preliminary
economic assessment report (June 22, 2009) that 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.
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.
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 and Exploration Corp. Tim Mikula
Investor Relations 866-834-0301 tmikula@amemining.com Abacus Mining
and Exploration Corp. Donna Yoshimatsu Director, Investor Relations
dyoshimatsu@amemining.com www.amemining.com
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