Abacus Adopts New Shareholder Rights Plan

May 16, 2013. Abacus Mining & Exploration Corporation (TSX VENTURE:AME)
("Abacus" or the "Company") announces today that its Board of Directors has
adopted a new shareholder rights plan (the "Plan"). In making this announcement,
the Company emphasizes that it is not aware of any pending or threatened
takeover bid. 


The Company is adopting the new Plan as the current shareholder rights plan
originally adopted by the Company in 2006, and reconfirmed in 2010, is scheduled
to expire at the close of the Company's 2013 annual general meeting. The
provisions of the new Plan are substantially similar to those of the 2006
shareholder rights plan.


The Plan is effective May 16, 2013, but in accordance with stock exchange
requirements, it will be submitted to the shareholders of the Company for
confirmation at the Company's next shareholders' meeting, which is set to occur
on June 20, 2013 (the "Meeting"). If shareholders do not confirm the Plan at the
Meeting, the Plan and the rights thereunder will terminate and cease to be
effective.


A summary of the provisions of the Plan will be included in the management
information circular to be mailed in respect of the Meeting and a complete copy
of the Plan will be available on SEDAR (www.sedar.com).


On Behalf of the Board,

ABACUS MINING AND EXPLORATION CORPORATION

James D. Excell, President & CEO

Ian M. MacNeily, Executive Vice President & CFO 

About Abacus

Abacus is a mineral exploration and mine development company with a 20% 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
Corporation and KGHM Polska Miedz S.A. through 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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Abacus Mining and Exploration Corp.
James D. Excell
President & CEO Executive
[e-mail]


Abacus Mining and Exploration Corp.
Ian MacNeily
Vice President & CFO
[phone]
[e-mail]


Abacus Mining and Exploration Corp.
[phone]
[phone] (FAX) (FAX)
[e-mail]
www.amemining.com