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”.
About Abacus
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.
