Full Feasibility Study Expected by Early 2008
VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 03/21/07 -- Abacus
Mining and Exploration Corp. (TSX VENTURE: AME), a junior resource
company engaged in exploration of copper and gold properties in
central British Columbia, today announced results from an
independent, NI 43-101 compliant resource calculation for its Ajax
West deposit in the Afton camp in south central British Columbia. The
resource is based on exploration drilling completed by Abacus in 2005
and 2006.

The resource, calculated by Beacon Hill Consultants (1988) Ltd. under
the direction of Garth Kirkham (P. Geoph) and Peter Stokes (P. Eng.)
is as follows:


Ajax West - Inferred Resources

------------------------------------------------------------------
Cutoff
(% Cu) Tonnes Cu % Au g/t lbs Copper oz Gold
------------------------------------------------------------------
0.10 221,925,978 0.292 0.184 1,428,647,649 1,312,876
------------------------------------------------------------------
0.15 183,531,761 0.3271 0.2061 1,323,505,995 1,216,149
------------------------------------------------------------------
0.20 147,269,070 0.3647 0.2296 1,184,081,088 1,087,129
------------------------------------------------------------------
0.25 114,703,646 0.4048 0.2538 1,023,650,879 935,980
------------------------------------------------------------------
0.30 86,927,513 0.4466 0.279 855,874,546 779,757
------------------------------------------------------------------


The above resource numbers represent a global inferred resource and
further work is needed to determine the economic viability of the
deposit and how much of this resource can be classified as measured
or indicated reserves.

Drilling in 2005 and 2006 by Abacus in the Ajax West area included 42
holes totaling over 20,000 metres which tested 650 metres of strike
length to depths of up to 500 metres. Highlights of this drilling
included 408 metres grading 0.52% copper and 0.31 g/t gold in hole
AW-05-01. Numerous high grade intercepts were returned from the
deeper drilling (24 metres grading 1.31% copper and 1.17 g/t gold in
hole AW-06-025) which indicate the potential for a higher grade
underground target.

Based on the results of this inferred resource Abacus is moving
quickly to complete a "preliminary economic assessment", the first
step toward completion of a full feasibility study by early 2008.

Abacus now has NI 43-101 compliant resources calculated for three
deposits in the Afton area - Ajax West, DM-Audra and Rainbow. A
fourth resource calculation, for Ajax East (0.5 km east of Ajax
West), is expected in mid 2007. All of the current resources remain
open and future drilling is planned to expand, and to upgrade them to
the reserve category.

The following table summarizes the current 43-101 compliant resources
on the Abacus Afton Project:


-----------------------------------------------------------------------

Zone Tonnes Cu % Au g/t lbs Copper oz Gold
-----------------------------------------------------------------------
DM/Audra Indicated 28,500,000 0.295 0.153 185,353,595 140,195
(0.2% Cu ------------------------------------------------------------
Cut off) Inferred 15,800,000 0.281 0.124 97,880,808 62,991
-----------------------------------------------------------------------
Rainbow Indicated 47,100,000 0.345 0.084 358,301,000 127,200
(0.2% Cu ------------------------------------------------------------
Cut off) Inferred 3,000,000 0.245 0.064 16,207,000 6,200
-----------------------------------------------------------------------
Ajax West Inferred 147,269,070 0.3647 0.2296 1,184,081,088 1,087,129
(0.2% Cu
Cut off)
-----------------------------------------------------------------------


The resources, coupled with the infrastructure purchased from Teck
Cominco in 2005 will allow Abacus to move forward quickly in the
Afton camp. The infrastructure purchased from Teck Cominco includes a
tailings pond, water rights, mill and shop buildings, rights of way
and surface rights. Preliminary independent engineering studies have
indicated that the existing tailings facilities can be upgraded to
hold at least 250 million tons of new material.

Doug Fulcher, president of Abacus, said, "We are extremely pleased
with the results of the resource calculation for Ajax West. Our
aggressive approach toward the Afton property is beginning to pay
off. For example, our purchase of the Teck Cominco infrastructure,
after we had completed our initial resource calculations at Rainbow
and DM/Audra, is an indication of our commitment to and belief in the
project. We will now move forward quickly in the first half of 2007
to complete a resource calculation for Ajax East - our fourth on the
property - and to upgrade the calculated resources to reserves with
the goal of producing a feasibility report by late 2007 or early
2008. To meet this timetable we plan to have our most aggressive
drilling program yet at Afton. This program will include up to 50,000
metres of diamond drilling as well as engineering studies and base
line environmental studies. Abacus is now well positioned to take
full advantage of both the value being created at Afton as well as
the current strong markets for copper and gold."

To view accompanying map please click on the following link:
http://www.ccnmatthews.com/docs/AMEmap.jpg

Robert G. Friesen, is the qualified person (as defined in NI 43-101)
who has reviewed this news release.

On Behalf of the Board,

ABACUS MINING & EXPLORATION CORPORATION

John Nicol, Director

About Abacus Mining & Exploration Corp.

Abacus Mining & Exploration Corp. (TSX VENTURE: AME) is a Vancouver,
BC-based junior resource company engaged in the exploration and
development of copper and gold properties in central British
Columbia. Abacus is led by a team of industry professionals with over
130 years of combined mineral property development experience and
backgrounds in mining and exploration, project management and
corporate finance.

This news release, required by applicable Canadian laws, is not for
distribution to U.S. news wire services or for dissemination in the
United States, and does not constitute an offer to sell or a
solicitation of an offer to sell any of the securities in the United
States. The securities have not been and will not be registered under
the United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be offered
or sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available.




The TSX Venture Exchange has neither reviewed or approved the
accuracy or adequacy of this news release.

Contacts:
Abacus Mining and Exploration Corp.
Doug Fulcher
(604) 682-0301 or 1-866-834-0301

Abacus Mining and Exploration Corp.
Paddy Nicol
(604) 682-0301 or 1-866-834-0301
(604) 682-0307 (FAX)
Email: info@amemining.com
Website: www.amemining.com