Abacus Expands Management Team
VANCOUVER, British Columbia, Nov. 06, 2017 (GLOBE NEWSWIRE) -- Abacus Mining & Exploration Corporation (“Abacus” or the “Company”) (TSXV:AME) is pleased to announce an addition to its management team. Mr. Paul G. Anderson, M.Sc., P.Geo., has been appointed by the Board of Directors as President and COO effective immediately, while Mr. Michael McInnis, P.Eng., becomes Executive Chairman of the Company, having resigned as Chairman, President and CEO.
Mr. McInnis will continue to be actively involved in Abacus’s core operating and strategic processes including financing and market strategies and communication. Mr. Anderson will manage all day-to-day operations of the Company, and will actively participate in financing and marketing efforts.
These changes are a direct result of the increasing level of activity of the Company, with an imminent decision expected on the coordinated Provincial and Federal Environmental Assessment process for the Ajax copper-gold Project near Kamloops, B.C. (see News Release dated October 23, 2017), as well as the active Willow porphyry copper exploration project near Yerington, Nevada (see News Release dated October 30, 2017).
Mr. Anderson commented, “I am pleased to be invited by Mike and the Board to take an executive role at this juncture of the Company’s development, especially with a strengthening copper market and the upcoming Ajax decision. Mike and I worked closely together at Riverstone Resources, where we led a team that discovered and developed the Karma gold deposit in Burkina Faso. Karma went into production in 2016, and is currently owned by Endeavour Mining. More recently, I have been working with Mike to identify new copper opportunities for Abacus, culminating in the acquisition of the Willow project.”
Michael McInnis stated “I am very pleased to welcome Paul to Abacus’s management team. Paul and I have worked together successfully in the past, and I am confident that Paul’s technical skill set will contribute to the future success of Abacus”.
For further information, please contact Investor Relations at (604) 682-0301.
On Behalf of the Board,
ABACUS MINING & EXPLORATION CORPORATION
|Paul Anderson||Michael McInnis|
|President & COO||Executive Chairman|
Abacus is a mineral exploration and mine development company with a 20% interest in the Ajax Project located at the historic Ajax-Afton site southwest of Kamloops, B.C., and an option to acquire up to a 75% undivided interest in the Willow porphyry copper-gold property in Nevada. The Willow Project is located in a district that hosts a number of porphyry copper deposits including the Ann Mason and Yerington deposits. The Ajax Project is a proposed copper-gold open-pit mine currently undergoing a provincial and federal environmental assessment process. Through KGHM Ajax Mining Inc., a joint venture company between Abacus (20%) and KGHM Polska Miedz S.A. (KGHM) (80%), the Ajax Mine is being funded in large part by KGHM and operated by its wholly-owned subsidiary, KGHM International Ltd. For the latest reports and information on Abacus’ projects, please refer to the Company’s website at www.amemining.com.
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.
Suite 1000-1050 West Pender Street
Vancouver, B.C. V6E 3S7 Canada
Tel: 604.682.0301 Fax: 604.682.0307
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