Company News: Abacus Mining and Exploration Corp.
Updated: 14 Sep 2009

With resources rich in copper and gold. Abacus Mining is a mineral exploration and development company with advanced-stage projects located in the prolific Afton Mining Camp near Kamloops, British Columbia.

A compliant preliminary economic study indicates high potential for a robust mining operation.

• NPV $622.3 million discounted 8% ($2.25 lb/ Cu, $900 oz/ Au)

• IRR of 20.9% on capital costs of $535-million

• Payback 4.3 years over 23 year mine life

• Average life of mine cash costs of $0.99 per lb. Cu

• Pit inventory containing 2.6 billion lbs of Cu and 2.4 million oz Au (M+I)

Ownership of existing mining infrastructure including buildings, tailings storage, water rights and related permits are expected to increase cost efficiencies for mine development and reduce time. Excellent access to the project with the added advantage of nearby highways, rail and power.

Also Known as: ABACUS, AME

Business Category Exploration; Mining

Regions of Operation North America

Exchange Ticker AME

Web: http://www.amemining.com