Abacus Mining Completes Shares for Debt Transaction

Abacus Mining & Exploration Corporation (TSX VENTURE:AME) (the "Company")
announces that, following receipt of approval from the TSX Venture Exchange for
the previously announced shares for debt transaction, the Company has now issued
400,000 common shares to Ian MacNeily, former Executive Vice President and Chief
Financial Officer of the Company, at a deemed price of $0.065 per common share.


On Behalf of the Board, 

ABACUS MINING & EXPLORATION CORPORATION 

Michael McInnis, Chairman, President & CEO

About Abacus

Abacus is a mineral exploration and mine development company with a 20% interest
in the feasibility stage Ajax copper-gold project located at the historic
Ajax-Afton site southwest of Kamloops, B.C. Through a joint venture between
Abacus Mining & Exploration Corporation and KGHM Polska Miedz S.A. through KGHM
Ajax, the Ajax Project is a proposed open-pit mine with an approximate 20-year
mine life expected to yield approximately 109 million pounds of copper and
99,000 ounces of gold annually. 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. (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")).


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Abacus Mining and Exploration Corporation
Michael McInnis
Chairman, President & CEO
604.682.0301
604.682.0307 (FAX)
[e-mail]
www.amemining.com