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Gold/Mining/Energy : Abacus Minerals Corporation (V.AMC) -- Ignore unavailable to you. Want to Upgrade?

To: MacLoud who wrote (61)	3/8/1998 9:29:00 PM
From: Craig Jones	Read Replies (1) \| Respond to of 397

Thank you, that will surely help. Cheers, Craig

To: MacLoud who wrote (61)	4/16/1998 7:08:00 PM
From: BRILLO	Read Replies (1) \| Respond to of 397

AMC drops $.04 to $.45..... I guess the shareholders were not receptive to the news release and having their shares diluted today... perhaps a good time to average down?????? Brillo Abacus Minerals: Phase I Drilling Completed VANCOUVER, BRITISH COLUMBIA--Abacus Minerals Corporation (the"Company") announces that company insiders and management have agreed to carry out a Private Placement Financing of 500,000 Special Warrants at a price $0.50 for net proceeds of $250,000. Each Special Warrant is exchangeable into one common share and one share purchase warrant exercisable for a two year period. Each share purchase warrant will be exercisable at a price $0.50 in the first year and $0.575 in the second year. Proceeds from this financing will be primarily used for ongoing diamond drilling of the La Manchuria gold-silver property in Santa Cruz, Argentina. Abacus is earning a 100 percent interest in six properties (including La Manchuria) in this area from Barrick Gold Corp., subject to a Barrick 50 percent back-in right. Abacus must carry out US $2,700,000 over a four year period with at least US $500,000 spent in this first year. Abacus has now met its first year work commitment. Abacus is nearing completion of its seventh diamond drill hole at La Manchuria. Drill holes have varied from 100-300 metres in depth. The La Manchuria deposit target is a silicified epithermal gold-silver stockwork system with potential for a near surface bulk tonnage open-pit deposit. It also has the potential for a deeper higher grade epithermal vein system similar to Anglo American's Cerro Vanguardia Mine, located 80 kilometres east of La Manchuria. Cerro Vanguardia has stated reserves of 13,500,000 tons grading 9.5 g/t gold and 125 g/t silver. Trenching at La Manchuria completed by Barrick in 1996 include results of 110 metres grading 1.48 g/t gold and 57.7 g/t silver and 180 metres grading 1.37 g/t gold and 14.89 g/t silver. Work completed by Abacus in 1997 includes trench results of 70 metres grading 1.18 g/t gold and 51.77 g/t silver. Abacus' geological crew in Argentina will now take a two week break in which to wait for initial drill assay results prior to commencing further diamond drill testing at La Manchuria. During this break, Abacus' field crew will visit the previously unexplored Cerro Morro and Rio Oro properties which are 2 of the 6 properties included in the Abacus/Barrick joint venture. These two properties were acquired by LAC Minerals in 1990 based on satellite imagery which clearly indicated good alteration and/or structural settings for epithermal precious metal deposition. Abacus is extremely eager to begin exploration programs on these last two properties. Four of the six properties previously visited have been identified to have very significant mineralized/altered systems (most notably at La Manchuria). There is excellent potential that significant mineralization will also be discovered on Cerro Morro and Rio Oro. Assay results from La Manchuria drilling will be released upon receipt from Acme Analytical Labs in Santiago, Chile. ABACUS MINERALS CORPORATION Steve L. Todoruk, P.Geo. President -30- FOR FURTHER INFORMATION PLEASE CONTACT: Abacus Minerals Corporation Steve L. Todoruk, P.Geo. President (604) 682-0301 or 1-800-811-5388 (604) 682-0307 (FAX) Email: info@abacusminerals.com Website: abacusminerals.com The Vancouver Stock Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this release.