“Pancake” Model vs Willow Corporate Presentation...“Pancake” Model vs Willow Abacus Mining and Exploration Corporation I TSX:AME I 1 Corporate Presentation November2019 Photo

“Pancake” Model vs Willow

Abacus Mining and Exploration Corporation I TSX:AME I www.amemining.com 1

CorporatePresentation

November 2019

Photo ofWillow Property, Nevada

Focused on Gold and Copperin the Americas

http://www.amemining.com/

This presentation includes certain statements that may be deemed "forward looking statements". All statements herein, other than statements of historical facts,

that address events or developments that Abacus Mining and Exploration Corporation (the "Company") 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.

Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. 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 actual results to differ materially

from those in forward looking statements include market prices, exploitation and exploration successes, environmental and permitting timeline delays or receipt of

required provincial and federal permits that may affect future plans, 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. Except as required by 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, shouldchange.


Forward Looking Information

QUALIFIED PERSON: The Technical content of this presentation has been reviewed and approved byPaul G. Anderson, P.Geo., the Company’s Qualified Persons as defined by National Instrument 43-101.


Strengths:• Strong Management, supported by an Exceptional Board

• Demonstrated Success in Capital Markets, Exploration, Development and M&A within numerous junior and mid-tier mining companies

• AJAX (B.C.): minority owner of long life, mine development stage Cu-Au porphyry project

• WILLOW (Nevada): new discovery on exceptional Cu-Mo porphyry project in historic Yerington camp

• JERSEY VALLEY (Nevada): new gold acquisition on the prolific Battle Mountain trend

Opportunities:• Re-rating on continued success in Nevada, advancement of Ajax, New Acquisition(s)

• Compelling low market valuation; Company trading at a fraction of its 52-week high

• Recent pivot to gold: Gold market at the beginning of a multi-year bull market

• Continued advancement on copper projects: Copper market set to grow exponentially in coming years

ABACUS: Focus on Cu and Au



Management and Share Structure


Michael McInnis, Executive Chairman: a geologist with 45 years experience managing numerous junior mining companies, including Gateway Gold until its acquisition in 2008 by Victoria Gold and Riverstone Resources until its merger to become True Gold. Director of Abacus since 2002. Currently a director of Victoria Gold and Canasil Resources.

Paul G. Anderson, President and COO: a geologist with 35 years of domestic and international mineral exploration experience, including managing Riverstone Resources, which discovered and developed the +5.0 Moz Karma gold deposits in Burkina Faso, prior to True Golds acquisition by Endeavour Mining. Led the early work at Willow and identified the Jersey Valley property for acquisition.

John McConnell Director: 40 years as a mining engineer, including for De Beers during the construction of the Snap Lake Diamond mine. Led Western Keltic until its takeover by Sherwood Copper in 2008. Presently Director, President and CEO of Victoria Gold.

Tom McKeever, Director: retired after 40 years in senior management positions with major mining companies and in the metal trading industry, including as past Chairman of Sempra Metals Group.

Kerry Spong, Director: an accountant with 25 years in public and private practice. He currently serves as CFO of Gitennes Exploration, Canasil Resources and Blackheath Resources.

Jeannine Webb, CFO and Corp Secretary: 25 years experience as a CPA,serving as CFO and Corporate Secretary for numerous junior mining companies.

S

Share Structure:

Common Shares: 51,790,776Warrants: 14,236,457Options: 3,579,162Fully Diluted: 69,201,395

Approximate Shareholdings of Major Shareholders: • Teck (11.7%), KGHM (4.8%), Management (10.3%)

1 Year SharePerformance



Ajax Copper-Gold Project, B.C.

Summary of Project:

• Major mine development stage asset near Kamloops, British Columbia

• 18 year mine life, planned production of 58,000 tonnes Cu and 125,000 oz Au per annum

• Two former open pits mined in 1989-91 by Teck, as part of the Afton Mine; rest of old Afton property owned by New Gold (New Afton Au-Ag-Cu Mine in production since 2012)

• JV between Abacus (20%) and KGHM Polska Miedz SA (brought in to develop project in 2010)

• Abacus carried to production; funds expended by KGHM on behalf of Abacus are only payable upon production

• Environmental assessment process ran from February 2011 until October of 2017

• Change of B.C. Government in April of 2017 impacted support for project

• Environmental permit denied by Province in December 2017, despite the finding that any environmental impacts could be mitigated; denial based mainly on lack of finalized agreement with First Nations

• KGHM has recently begun the process of re-engaging with local First Nations and other stakeholders, with a view to resubmitting the environmental application for the project

• Engineering work is essentially complete, allowing for a fast restart of the project



Ajax Feasibility Highlights(from 2016 Feasibility Study Update)

Reserve Tonnes (mt) Cu % Au (g/t) Ag (g/t)

Proven 130 0.30 0.19 0.40

Probable 296 0.28 0.19 0.38

P + P

Contained Metal

426 0.29

2.7 Bil lbs

0.19

2.6 Moz

0.39

5.3 Moz

Financial Highlights

Pre-Tax NPV @ 5% USD 872 M

NPV @ 8% USD 429 M

IRR 13.4%

After Tax NPV @ 5% USD 543 M

NPV @ 8% USD 216 M

IRR 11.1%

West Pit (Teck) Mining Rate 65,000 tpdMine Life 18 yearsAverage Annual Production 58,000 T Cu + 125,000 oz AuStrip Ratio 2.65:1CapEx $1.3 BOpEx – LOM Mining $1.50/t mined

- Process $4.31/t ore



Jersey Valley, Nevada

Summary of Property:

• Along the prolific Battle Mountain gold trend of Nevada (+50Moz Au)

• Acquired in October 2019 from a private Nevada company

• 15 year lease with yearly option payments; USD 85,000 in first three years

• No yearly spending commitments

• Can purchase 100% at any time, subject to an NSR to the vendor

• Increased property size by 66% to 265 hectares immediately upon signing option deal


Location - Jersey Valley, Nevada


Battle Mt/EurekaGold Trend:

• +50 Moz pastgold production

• Phoenix/Fortitude ~14 Moz Gold

• McCoy/Cove~4 Moz Gold

• 1 hour drive fromBattle Mt.

• Excellent sealedroad through claims

• 15 MW Geothermal power plant on site


Jersey Valley, Previous Drilling


Preserved epithermal system, marked by prominent sinter underlain by altered volcaniclastics and sediments.

Active hot springs: geothermalpower plant on site.

Past operators did widespread,shallow drilling.

Evidence that past drilling was notdeep enough, but indicate a productive gold and silver epithermal system at depth.

Target #1: large magnetic low beneath sinter (see next page). Anomalous Au and Ag in most previous drill holes,with values increasing towards the ends of the holes. One hole ended in 245 feet of 265 ppb Au + 3.28 g/t Ag.

Target #2: silicified breccia along range front. Select rock chips to 5.8 g/t Au and to 114 g/t Ag. Previous drillingIntersected 0.59 g/t Au over 40 ft, including 2 g/t over 2 ft.


Abacus Mining and Exploration Corporation I TSX:AME I www.amemining.com10

Jersey Valley, Magnetics

Prominent magnetic low, beneath and flankingoutcropping sinter zone.

Coincident high antimony, arsenic, mercury andsilver – typical of the geochemical signatureof epithermal precious metal targets.

Widespread previous drilling appears to havehit the top of an epithermal Au-Ag system.

Gold and silver values increase towards the endof most drill holes.

Sinter (material precipitated from hot mineral springs)

Magnetic Low


Willow Nevada - Location Map


Porphyry Cu DepositsIn the Historic YeringtonNevada Copper Camp:▪ Yerington▪ Bear▪ MacArthur▪ Ann Mason➢ Willow?

Skarn Deposits:▪ Pumpkin Hollow▪ Bluestone▪ Mason Valley▪ Malachite

(Note: tonnage and grade arefrom the respective companieswebsites)

Approximately33 billionPounds of Cuidentified to date in the Yerington camp


Geological MappingWillow - Geological Mapping (2017)

Northern Alteration Zone:• Significant areal extent• Relatively few veins & dykes

Southern Alteration Zone:• Larger, More Extensively Altered Target• Geochemistry has overlapping zones of Cu,

Mo, W, Sn, Se, etc; Typical Por Cu Signature

• Coincident large Magnetic low, IP high• Greater concentration of Porphyry Dykes• More Quartz Veins

• BETTER TARGET

Initial work in summer 2017 outlined theApproximate Extent of Alteration Zones (with alteration typical of Porphyry Coppers)

highlighting Mapped Quartz Veins (the

coloured dots)

Cu in Soils & Magnetics (2017)(Refines Target to Eastern Portion of Southern Alteration Zone)


HeavyDashedLines areSouthernAlterationZone

Strong Cu insoil anomalyon left;coincidentMag lowon right

TARGETAREA

Hole 001

Hole 002

Hole 003


Model for Yerington Porphyry Cu


Host Volcanicsand earlier Intrusives

Porphyry Dykes OffMain Intrusion

Copper orebody forms at granite/volcanic contact, outboardwithin the dyke swarm, or within the Luhr Hill Granite. KnownCu Porphyry’s: Yerington, Ann Mason, Bear, MacArthur, Willow?

Geology at Yerington is rotated (tilted)90° after orebodies form, so that topsare now to the west

Luhr Hill Granite – you can’t havea Porphyry Copper Deposit atYerington without this granite


Willow – Initial Target (Sept 2017)


Target Area: 2.2 by 2.0 km

Very large, strong PorphyryCopper target defined by:

• coincident geochemistry,• geophysics• porphyry dykes• quartz veins on surface

and in particular by

dyke swarms to the westthat have no knownintrusive source (refer toprevious slide).

Target is hidden and does notcome to surface.


Willow – Refining the Target by Unfaulting the

Faults (February 2018)


Further work highlighted several flat lying faults. These faults have the effect of displacing the target to the west and progressively closer to surface, within successively deeper fault blocks.

Holes drilled in 2018 (for

location see slide 10)

002

001, 003

Future Hole?


2018 Willow Drilling – Testing the Target


Limited “proofof concept”drill program

Luhr HillGraniteidentifiedin two drill holes, with Cu-Mo values

Source rockfor the YeringtonCu-Mo Porphyries;you can’t have aporphyry deposit inYerington withoutthis granite

❖ Not yet a deposit, but a SIGNIFICANT

NEW DISCOVERY(August 2018)

002001, 003


Summary - Abacus


Reasons to Own Abacus Shares:

Copper demand is projected to soar in the near term, partly driven by electrical vehicle uptake in the face offalling mine grades, depleting mines, and few undeveloped ore bodies due to recent low Cu prices

• 20% owner of Ajax, a major development stage, long mine life, porphyry Cu-Au deposit in B.C.

• Rapidly advancing a new discovery at the Willow Cu-Mo porphyry in Nevada

• Recently added a compelling gold opportunity in the prospective Battle Mt, NV district

• Strong Management backed by an Exceptional Board

• Actively pursuing gold and copper opportunities in the America’s, with a view toaggressively build a larger Cu-Au exploration and development vehicle

• Currently trading at a very low value


Documents

“Pancake” Model vs Willow Corporate Presentation...“Pancake” Model vs Willow Abacus Mining and Exploration Corporation I TSX:AME I 1 Corporate Presentation November2019 Photo