Abacus Minerals La Manchuria Project in Argentina Starts.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 27, 1997-- Abacus Minerals Corp (VSE AMC.) Abacus Minerals Corporation announces that a $750,000 program has commenced on its six properties in Argentina which are being optioned from Barrick Gold Corporation.

Abacus has the right to earn a 100 percent interest in all six properties from Barrick by carrying out US $2,700,000 in exploration over 4 years. $500,000 must be spent in Year 1 with a minimum of $350,000 spent on the La Manchuria Project. Barrick has the right to back-in for a 50 percent interest by funding the next US $3,700,000. Barrick acquired the La Manchuria Project through its takeover of Lac Minerals in 1994 and during the initial examination of the property in March 1996, discovered significant gold and silver values.

District wide gold mineralization is evidenced by Anglo American's Cerro Vanguardia gold-silver deposit, which is located in the La Manchuria area, 70 kilometres due east. This deposit is strongly controlled by NW trending regional structures. Individual epithermal veins at Cerro Vanguardia continue for 4,700 metres of strike length and vary in width up to 15 metres. Anglo American has announced a reserve of 13,500,000 tons grading 9 grams per ton (3,800,000 ounces Au) which is presently going into production. Mining will be by a series of open pits along the strike of the vein system.

Early work carried out by Barrick on La Manchuria in 1996, consisted of three bulldozer trenches with encouraging results from sampling. These included: 110 metres grading 1.48 g/t gold and 57.7 g/t silver in Trench 1 at the northern end of the area tested to date; 60 metres of 1.21 g/t gold and 11.9 g/t silver along with 180 metres of 1.39 g/t gold and 14.89 g/t silver in Trench 2, located 125 metres south of Trench 1. Trench 3, was excavated 200 metres further south of Trench 2 and returned 90 metres of 0.59 g/t gold and 18.0 g/t silver. In Trench 3 continuous sampling of outcrop was not possible as bedrock was not reached in most of the trench. Trenching was also stopped at its easterly end where obvious chalcedonic veining continues eastward for at least 100 metres.

Abacus personnel accompanied by the Company's independent engineer, Mr. Giles Peatfield, visited La Manchuria in early October. The gold mineralization occurs in large epithermal chalcedonic stockwork hosted in an intensely clay-adularia-hematite-silica altered rhyolite. This intense alteration is exposed in all three of Barrick's trenches. Multiple phases of cross-cutting chalcedony veins, varying in size from hairline fracture fillings to 15 centimetres in width, occur throughout the exposures.

The stock work veining and altered rhyolite outcrop over an area of at least 700 metres by 700 metres on a prominent silicified ridge which protrudes 75-100 metres above the general valley floor. The La Manchuria stock work zone appears to be open in all directions and trends under the alluvial cover in the valley floor.

La Manchuria and Cerro Vanguardia appear to have different styles of epithermal gold deposits, but a common feature to both is a prominent NW striking structural control. This indicates excellent potential for the La Manchuria stock work style of mineralization to continue to both the northwest and southeast.

During the upcoming Phase I program, existing trenches will be extended to both the west and east where veining or alteration persists. As well, new trenches will be excavated to the north of Trench 1 and to the south of Trench 3, where the zone remains open.

Phase I results are expected to be in hand prior to mid-December. A follow-up 2,000 metre drill program is scheduled to commence on January 20.

Preliminary examination and sampling of the other five properties acquired from Barrick in this area of Argentina will be carried out concurrently with the program on La Manchuria.

For a copy of La Manchuria's trench map, please call the company and request one.

ABACUS MINERALS CORPORATION Steve L. Todoruk, P. Geo. President

NOTE: Trench map available from the Company at the phone number listed below.

The Vancouver Stock Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this release.

CONTACT: Abacus Minerals Corporation

Steve L. Todoruk, P.Geo., 604/ 682-0301 or

1-800-811-5388

604/ 682-0307 (FAX)

email: [e-mail]

http://www.abacusminerals.com