Abacus Announces Resignation of Andrew Pooler

Abacus Mining & Exploration Corporation (TSX VENTURE:AME) ("Abacus" or the
"Company") announced today that its Board of Directors has accepted the
resignation of Andrew F. Pooler as Executive Vice President and Chief Operating
Officer. Mr. Pooler is resigning to pursue other opportunities.


On behalf of the Board of Directors of Abacus, Jim Excell, President & CEO
commented, "Andy's foresight and leadership since the Ajax Project's early
development under Abacus have helped navigate the Project's successful
transition through feasibility towards production. Andy leaves in place an
excellent team that he assembled to continue this mission."


"I would like to express my sincerest gratitude to Abacus for my experience here
over the last several years," Andy added. "I have every confidence that the
project will successfully pass through the next steps to become a premier mine."


Following the exercise by KGHM Polska Miedz S.A. (KGHM) on April 2, 2012 of its
option to acquire a further 29% interest in the Joint Venture Company, KGHM Ajax
Mining Inc., increasing its ownership to 80%, it is expected that KGHM will
appoint a new operator for the Ajax Project in the coming months.


Abacus is currently engaged in a process that aims to maximize the value of its
20% interest in the Ajax Project. With a robust feasibility study, the financing
obligation of global copper partner KGHM for the required capital to build the
mine, and approximately $30 million in cash for Abacus' use towards its portion
of the Ajax Project's initial capital, Abacus is in a favourable position to
realize the full value of its interest in the project.


On Behalf of the Board,

ABACUS MINING AND EXPLORATION CORPORATION

James D. Excell, President & CEO

Donna Yoshimatsu, Director, Investor Relations

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 Corp.
and KGHM Polska Miedz S.A. ("KGHM") through KGHM Ajax Mining Inc. ("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.
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