Mon Mar 19, 2007 Non-Brokered Private Placement Announced
Vancouver, BC - Consolidated Abaddon Resources Inc. (TSX.V: ABN) (FWB: E2L) announces it has arranged a non-brokered private placement of up to 2,500,000 non flow-through units at an offering price of $0.50 per unit. Each non flow-through unit will consist of one non flow-through common share and one non-transferable share purchase warrant entitling the holder to purchase an additional non flow-through common share of the Company at a price of $0.60 for a period of two years.
If applicable, the Company will pay a finder's fee in cash or units equal to 5% of the private placement offering. The finder's units will be on the same terms as the subscriber's units.
Consolidated Abaddon Resources Inc. intends to utilize the proceeds from the private placement for general working capital purposes.
Consolidated Abaddon Resources Inc. is a Canadian uranium exploration company actively involved with the development of uranium properties in the ATHABASCA BASIN of northern Saskatchewan and the SIMS BASIN of western Labrador.
Property partners include Denison Mines Corp. and Triex Minerals Corp.
ON BEHALF OF THE BOARD OF DIRECTORS
"Jim Pettit"
____________________________
JAMES G. PETTIT
President
For further information contact myself or:
Don Myers
Consolidated Abaddon Resources Inc.
Director
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@consolidatedabaddon.com
THE TSX VENTURE EXCHANGE AND FRANKFURT STOCK EXCHNAGE HAVE NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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