Abacus Mining & Exploration Corporation announced that it has signed an Agreement with Almadex Minerals Ltd. and Almadex America Inc. (Almadex), to acquire a 100% ownership interest in the Willow porphyry copper property located in Yerington, Nevada, (Willow Property) and data associated with the Willow Property (the Willow Data). Under the terms of the Agreement, which is subject to TSX Venture Exchange (TSX-V) approval, Abacus will issue common shares of Abacus (Shares) to Almadex, as to: 7,500,000 shares in the capital of the Company (Shares) (the Initial Shares) on closing of the transaction, expected to be on or about June 30, 2024 (the Closing Date); and on July 31, 2025 (the Top-Up Date), such number of Shares owned by Almadex immediately following the completion of the transaction on the Closing Date, then divided by the number of Shares outstanding on the Top-Up Date, equals 0.08, rounded down to the nearest whole Share (the Top-Up Shares). Title to the claims comprising the Willow Property will be transferred to Abacus on issuance of the Initial Shares, and Abacus will, as soon as reasonably practicable following the Closing Date and in any event no later than December 31, 2025, complete the drilling of a minimum 600 metre exploratory hole on the Willow Property within an area agreed upon with Almadex.

The Willow Property is subject to a 2% NSR from future production of minerals from the Willow Property.