Abacus Provides Corporate Update

Rhea-AI Summary

Abacus Mining & Exploration (TSXV: ABCFF) provided a 2025 corporate update detailing its two core porphyry copper holdings and recent activity.

Ajax: Abacus holds a 20% carried interest in the Ajax joint venture with KGHM. Ajax has a NI 43-101 Proven & Probable reserve of 426 Mt @ 0.29% Cu, 0.19 g/t Au (approx. 2.7B lbs Cu, 2.6M oz Au). The 2016 Feasibility Study modeled 65,000 tpd over 18 years. A 2017 joint provincial/federal environmental assessment certificate was declined.

Willow (Yerington, NV): Abacus fully acquired Willow in 2024, holds a lease on Nev-Lorraine, and reported a new fifth Cu-Mo porphyry discovery requiring further drilling.

Positive

• Ajax NI 43-101 reserve: 426 Mt @ 0.29% Cu
• Contained metal ~2.7B lbs Cu and 2.6M oz Au
• Abacus holds a 20% carried interest in Ajax
• Willow acquisition completed in 2024
• Discovery of a fifth Cu-Mo porphyry at Yerington

Negative

• 2017 provincial/federal decision declined Ajax environmental certificate
• Ajax Feasibility Study dated 2016 and requires updating
• Ajax environmental and stakeholder relations remain unresolved

News Market Reaction

+12.57%

1 alert

+12.57% News Effect

On the day this news was published, ABCFF gained 12.57%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Ajax reserve tonnage: 426 Mt Ajax copper grade: 0.29% Cu Contained copper: 2.7 billion lbs Cu +5 more

8 metrics

Ajax reserve tonnage 426 Mt NI 43-101 Proven & Probable Mineral Reserve

Ajax copper grade 0.29% Cu Ajax NI 43-101 Proven & Probable reserve grade

Contained copper 2.7 billion lbs Cu Contained metal in Ajax Proven & Probable reserve

Feasibility copper price US$3.21/lb Cu Metal price used in 2016 Ajax Feasibility Study

Ajax mining rate 65,000 tonnes per day Proposed rate in 2016 Feasibility Study over mine life

Ajax mine life 18 years Planned mine life in 2016 Feasibility Study

New Afton reserve 39.5 Mt Proven & Probable Mineral Reserve at New Afton

Ann Mason resource 2.2 billion tonnes @ 0.34% Cu M&I resource contiguous and east of Willow

Market Reality Check

Price: $0.0168 Vol: Volume 19,014 is about 0....

low vol

$0.0168 Last Close

Volume Volume 19,014 is about 0.2x the 20-day average of 95,213, indicating relatively light trading into this update. low

Technical Pre-news price at $0.0198 was indicated as trading above the 200-day MA of $0.02.

Peers on Argus

No peers or sector momentum data were flagged, suggesting the move in ABCFF refl...

No peers or sector momentum data were flagged, suggesting the move in ABCFF reflected company-specific factors rather than a broader sector rotation.

Historical Context

2 past events · Latest: Dec 08 (Neutral)

Pattern 2 events

Date	Event	Sentiment	Move	Catalyst
Dec 08	Private placement	Neutral	+3.9%	Announced non-brokered private placement for up to $300,000 in units.
Dec 01	Corporate update	Positive	+12.6%	Outlined Ajax reserves, Willow acquisition, and new Cu-Mo porphyry discovery.

Pattern Detected

Limited history shows two recent announcements, both followed by positive price reactions, indicating recent news has coincided with upside moves.

Recent Company History

Over recent months, Abacus highlighted its copper-focused strategy, emphasizing a 20% carried interest in the Ajax copper-gold joint venture and full ownership of the Willow Cu-Mo property with a new porphyry discovery. The Dec 1 corporate update detailed these assets and environmental review history at Ajax, and was followed by a private placement announcement of up to $300,000 on Dec 8. Both items coincided with positive one-day price moves, suggesting recent corporate communications have aligned with modest market strength.

Market Pulse Summary

The stock surged +12.6% in the session following this news. A strong positive reaction aligns with t...

Analysis

The stock surged +12.6% in the session following this news. A strong positive reaction aligns with the detailed disclosure of substantial copper-gold reserves at Ajax and the emerging exploration potential at Willow in Yerington. The stock traded at $0.0198, about 30.04% below its 52-week high yet over 110% above its 52-week low, leaving room for volatility. Light volume versus the 20-day average and a history of positive reactions to recent news could make any sharp move sensitive to changes in sentiment or future financing activity.

Key Terms

ni 43-101, proven and probable mineral reserve, feasibility study, porphyry, +2 more

6 terms

ni 43-101 regulatory

"within a NI 43-101 Proven and Probable Mineral Reserve of 426 Mt at 0.29% Cu"

A Canadian regulatory standard that sets the rules for how mining and exploration companies must report mineral resources and reserves, requiring technical reports prepared or signed off by an independent, certified expert. It matters to investors because it creates a consistent, transparent “inspection report” for mining projects, making it easier to compare prospects, judge the reliability of claims, and assess geological and financial risk before investing.

proven and probable mineral reserve technical

"within a NI 43-101 Proven and Probable Mineral Reserve of 426 Mt at 0.29% Cu"

Proven and probable mineral reserves are the amounts of a mineral deposit that engineers judge can be economically mined and sold based on detailed testing and planning; “proven” denotes the highest confidence, while “probable” reflects reasonable but lower confidence. Think of proven reserves as coins counted and verified in a jar and probable reserves as coins very likely to be there based on good sampling. Investors use these estimates to forecast future production, revenue and to assess project risk and valuation.

feasibility study technical

"It should be noted that the Feasibility Study * was completed in 2016"

A feasibility study is an assessment that evaluates whether a proposed project or idea is practical and likely to succeed before investing significant time and resources. It considers factors like costs, potential benefits, and challenges, helping stakeholders decide if moving forward makes sense. Think of it as a detailed plan that gauges if a new venture is worth pursuing.

porphyry technical

"two significant porphyry copper projects"

A porphyry is a type of large, underground mineral deposit that contains valuable metals such as copper, gold, or molybdenum, often spread over a wide area. Think of it as a giant underground treasure chest, where the metals are embedded in rock formations. These deposits are important to investors because they can be the source of significant resource extraction projects with the potential for substantial economic returns.

qualified person regulatory

"approved by Paul G. Anderson, M.Sc., P.Geo., a Qualified Person within the meaning"

A qualified person is someone with specialized knowledge, experience, and training in a particular field, allowing them to accurately assess and verify information or work. Their expertise helps ensure that reports, evaluations, or decisions are trustworthy and meet required standards. For investors, a qualified person provides confidence that the information they rely on is credible and properly validated.

m&i resource technical

"Ann Mason deposit contiguous and east of Willow with an M&I resource of 2.2 billion tonnes"

An M&I resource combines the “Measured” and “Indicated” categories of a mineral deposit, representing the amount and quality of a commodity that geologists are reasonably confident exists based on sampling and analysis. For investors it signals a higher level of reliability than less-certain estimates, helping judge whether a deposit could support economic mining—think of it as a recipe where most ingredient amounts are known rather than just guessed.

AI-generated analysis. Not financial advice.

Vancouver, British Columbia--(Newsfile Corp. - December 1, 2025) - Abacus Mining & Exploration Corporation (TSXV: AME) ("Abacus" or the "Company") is pleased to provide a summary of the Company's activities during 2025. The Company's stated objective is to build a copper exploration and development company, and to that end it has evaluated a number of copper projects and M&A opportunities. The Company will continue these activities for the remainder of 2025 and into 2026.

The Company currently has interests in two significant porphyry copper projects. The Ajax copper-gold Joint Venture, located near Kamloops, British Columbia is a partnership between Abacus and base metal major KGHM Polska Miedź S.A. ("KGHM"). Abacus holds a 20% interest in Ajax, carried through to production, with KGHM holding the remainder and acting as operator on the project.

The Ajax Project contains significant quantities of copper and gold, within a NI 43-101 Proven and Probable Mineral Reserve of 426 Mt at 0.29% Cu, 0.19 g/t Au and 0.39 g/t Ag. Contained metal is in the order of:

2.7 billion lbs Cu,
2.6 million oz Au and
5.3 million oz Ag.

It should be noted that the Feasibility Study * was completed in 2016 using metal prices of US$3.21/lb Cu, US$1200/oz. Au, and US$17/oz. Ag, which are significantly lower than current prices.

The 2016 Ajax Feasibility Study proposed a mining rate of 65,000 tonnes per day over an 18-year mine life. The mine would provide significant employment during both construction and operation, and substantial tax revenues would accrue to all levels of government and to First Nations.

Ajax was briefly mined as two open pits in the late 1980's by Teck as part of their Afton operation. Abacus acquired the Ajax project from Teck in the early 2000's and advanced it until 2010, when KGHM was brought onboard. The Ajax property also contains several satellite deposits, two with mineral resources, which have seen limited shallow drilling to date. The old Afton Mine just west of Ajax, now known as New Afton, is currently in production under New Gold. New Afton has a Proven and Probable Mineral Reserve of 39.5 Mt at 0.72% Cu, 0.65 g/t Au and 1.77 g/t Ag. **

The Ajax Project underwent a comprehensive joint provincial and federal environmental review starting in 2011, which culminated in the decision by the B.C. Minister of Environment and Climate Change Strategy and the Minister of Energy, Mines and Petroleum Resources to decline to issue an environmental assessment certificate for the Project in December of 2017. Since then, KGHM in consultation with Abacus has worked to re-evaluate the project, taking into account relations with all project stakeholders, especially First Nations.

In addition to Ajax, the Company in 2024 fully acquired the Willow porphyry copper-molybdenum ("Cu-Mo") property in Yerington, Nevada, after working the property since 2017 under an option agreement. It also holds a lease on the contiguous Nev-Lorraine copper-molybdenum property near Yerington, Nevada. Drilling to date by the Company has identified a fifth Cu-Mo porphyry in the camp, the first new porphyry discovered in decades in Yerington, which requires further drilling to fully evaluate.

There are four other porphyry deposits at Yerington. HudBay Minerals owns the Ann Mason deposit contiguous and east of Willow with an M&I resource of 2.2 billion tonnes at 0.34% Cu. *** Lion Copper and Gold control the Yerington, Bear and MacArthur porphyries adjacent and to the east of Ann Mason, which are under option to Rio Tinto. Anaconda mined the Yerington porphyry between 1952 until 1978, producing 1.6 billion pounds of copper. Lion Copper and Gold report Proven and Probable Reserves of 506.5 Mt at 0.21% Cu at their Yerington Copper Project. ****

Note that the information disclosed from adjacent properties for both Ajax and Willow is not necessarily indicative to the mineralization on the property that is the subject of the disclosure.

The technical information in this news release has been reviewed and approved by Paul G. Anderson, M.Sc., P.Geo., a Qualified Person within the meaning of National Instrument 43-101.

* M3 Engineering and Technology Corp., February 19, 2016. Ajax Project NI 43-101 Technical Report Feasibility Study Update.

** NI 43-101 Technical Report, New Afton Mine, British Columbia by Parsons et al, December 31, 2024. 

*** HudBay Announces Positive Preliminary Economic Assessment for its Mason Copper Project, Apr 6, 2021; O. Tavchandjian, Q.P. Also cited in HudBay Annual Information Form for the Year Ended Dec 31, 2024, dated March 26,2025.

**** NI 43-101 Technical Report, Yerington Copper Project, Lyon County, NV by Samuel Engineering et al, May 31, 2025.

On Behalf of the Board

ABACUS MINING & EXPLORATION CORPORATION

Paul G. Anderson, P. Geo.
President, CEO and Director
(604) 682-0301

About Abacus

Abacus is a mineral exploration and mine development company currently focused on copper and gold in B.C. and Nevada. The Company's main asset is a 20% ownership interest, together with KGHM Polska Miedź S.A. (80%), in the proposed copper-gold Ajax Mine located southwest of Kamloops, B.C., which has undergone a joint provincial and federal environmental assessment process. On December 14, 2017, a decision was made by the B.C. Minister of Environment and Climate Change Strategy and the Minister of Energy, Mines and Petroleum Resources to decline to issue an environmental assessment certificate for the Project. KGHM continues to work to facilitate First Nation, community and governmental engagement in order to advance the project towards a potential resubmission of the environmental application.

Abacus also owns a 100% interest in the Willow copper-gold property located near Yerington, Nevada, and it controls the contiguous Nev-Lorraine claims subject to a ten-year lease agreement.

For the latest reports and information on Abacus' projects, please refer to the Company's website at www.amemining.com.

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.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276290

FAQ

What stake does Abacus hold in the Ajax project (ABCFF)?

Abacus holds a 20% carried interest in Ajax, with KGHM as operator.

What are Ajax's Proven and Probable reserves reported in 2025 (ABCFF)?

Ajax has a NI 43-101 Proven & Probable reserve of 426 Mt @ 0.29% Cu, 0.19 g/t Au.

What was the outcome of the environmental review for Ajax (ABCFF)?

A joint provincial and federal review resulted in a decision to decline an environmental assessment certificate in December 2017.

When did Abacus complete the Willow acquisition and what was found (ABCFF)?

Abacus fully acquired Willow in 2024 and reported a new fifth Cu-Mo porphyry discovery at Yerington.

Does the Ajax project have a Feasibility Study and what mining rate was proposed (ABCFF)?

A 2016 Feasibility Study proposed mining at 65,000 tonnes per day over an 18-year life.

How much contained copper and gold are cited for Ajax (ABCFF)?

Contained metal is cited at about 2.7 billion pounds of copper and 2.6 million ounces of gold.