Abacus Mining & Exploration Corporation announced that it has decided not to renew the lease on its Jersey Valley epithermal gold property in Nevada. The Company has reviewed in detail the results of a drill program completed earlier this year. The drilling tested several prominent geophysical targets further along strike and at slightly greater depth than historic drill holes. Although similar gold and silver values were intersected in the new drilling, each of the targets weakens considerably along strike. The company also considered geochemical pathfinder elements within the new drilling, and compared to a typical epithermal system, these are weak to absent. The company tested the systems to approximately 300 metres vertical depth and considers any potential at depth to have limited economic viability. Targets to the east within a skarn system have also been adequately tested by past drilling, which returned only weakly anomalous precious metal values. The Company thus considers all targets fully tested and will return the property to the vendors. The Company has additional properties of merit in Nevada. The Willow copper-molybdenum porphyry property is in the Yerington copper camp, southeast of Reno. Drilling by the Company in 2018 intersected a key intrusive rock unit that hosts all known porphyry Cu-Mo deposits at Yerington. This rock unit was not previously known to exist on the Company’s property, and it represents a significant new discovery. The target is large and robust, and it remains essentially untested. The Company started a new drilling program on this prospective property in early July, and the program is progressing well. Abacus also holds a 20% ownership interest in the Ajax copper-gold porphyry project, located near Kamloops, British Columbia., which is managed by base metal major KGHM Polska Miedz S.A., who hold the remaining 80%. The Ajax Project contains significant quantities of copper and gold, within a NI 43-101 Proven and Probable Mineral Reserve of 426 Mt at 0.29% Cu, 0.19 g/t Au and 0.39 g/t Ag. Contained metal is in the order of 2.7 Bil lbs Cu, 2.6 Moz Au and 5.3 Moz Ag.