AME Abacus Mining and Exploration Corporation

Abacus Mining and Exploration Corporation (TSX VENTURE:AME) ("Abacus" or the
"Company") announces that it has initiated a process to explore and evaluate
potential strategic alternatives to maximize shareholder value and is in
discussions to engage a financial advisor to assist in the process.


As part of the strategic review, the financial advisor will undertake an
independent evaluation of the Ajax project and the value attributable to Abacus.
The process will encompass a thorough analysis and evaluation of the prospects
and options available to the Company. Abacus will consider all options, which
may include a joint venture, sale, merger, strategic investment or other
alternatives identified by the Company or the financial advisor that will serve
to maximize shareholder value.


Tom McKeever, Chairman of Abacus, explained, "The decision to initiate an
external process at this time coincides with the completion of a robust
feasibility study in December 2011 on the Ajax copper-gold project, being
developed with joint venture partner KGHM Polska Miedz S.A. ("KGHM"). While
KGHM's initial investment of $37 million was essential to bring the Ajax project
to the feasibility stage, Abacus has invested a significant amount on
exploration and development since acquiring the Ajax copper-gold camp in 2002
from Teck. We now intend to fully maximize our 20% interest in the camp for our
shareholders as soon as practicable."  


There can be no assurances that the Company will pursue or complete a business
combination or sale. The Board of Directors will review all possible strategic
alternatives and weigh the relative benefits of such alternatives to
shareholders. The Company does not intend to disclose developments with respect
to the progress of its strategic alternatives review process until such time as
the Board of Directors approves or completes a transaction or otherwise
determines that further disclosure is appropriate or required. 


On Behalf of the Board, 

ABACUS MINING AND EXPLORATION CORPORATION

James D. Excell, President & CEO 

Donna Yoshimatsu, Director, Investor Relations 

About Abacus 

Abacus is a mineral exploration and mine development company with a 49% interest
in the feasibility stage Ajax copper-gold project located near Kamloops, B.C.
The Ajax project is a joint venture between Abacus Mining & Exploration Corp.
and KGHM Polska Miedz S.A. ("KGHM") through KGHM Ajax Mining Inc. ("KGHM Ajax").



The Ajax project feasibility study supports production of a total of 2.5 billion
lbs of copper and 2.28 million ozs of gold in concentrate, or an average of
approximately 109 million lbs of copper and 99,000 ozs of gold annually, over a
23 year mine life. Total proven and probable mineral reserves are estimated at 3
billion lbs Cu and 2.7 million ozs Au at 0.27% Cu and 0.17 g/t Au based on $2.50
Cu and $1,085 Au. The proposed mine plan envisages a conventional open pit
operation processing 60,000 tonnes per day or 21.9 million tonnes per year of
ore. (see Report titled "Ajax Copper/Gold Project - Kamloops, British Columbia
Feasibility Study Technical Report" by Wardrop (a Tetra Tech Company) dated
January 6, 2012 ("FS"))


Forward-Looking Information 

This release includes certain statements that are deemed "forward-looking
statements". All statements in this release, other than statements of historical
facts, that address events or developments that Abacus 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 changes to commodity prices,
mine and metallurgical recovery, operating and capital costs,foreign exchange
rates, ability to obtain required permits on a timely basis, exploitation and
exploration successes, 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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