Vancouver, BC - Consolidated Abaddon Resources Inc. (TSX-V: ABN) (FWB: E2L) announces that Utah Uranium Corp. (OTCBB: UTUC) has informed the Company that Utah Uranium has started drilling on the Pinto uranium project near Hanksville, Utah on Monday November 12th. The $300,000 drill program is being financed 100 per cent by Consolidated Abaddon. Consolidated Abaddon has an option to earn up to a 60-per-cent interest in the Pinto property by financing this $300,000 drilling program in addition to other requirements as disclosed below.
This first phase of drilling will encompass the drill testing of up to 20 holes in the massive salt wash member of the Morrison formation. Chip samples from each hole will be examined by geologists and evaluated with a Radiation Solutions Inc. RS-125 Scintillometer to determine uranium mineralization. Mineralized material will then be sent to an ISO 9000 certified laboratory for analysis. Jet West Geophysical Services LLC has also been contacted to provide down hole gamma-ray/SP/SPR geophysical logging of all holes.
The contract can be expanded to include up to 50 holes, coinciding with the permitted drill plan filed with Utah State and other regulatory bodies. Results of this phase of operations will be announced upon receipt and analysis.
About the Pinto Uranium Project:
The Pinto property covers 344 mineral claims, consisting of 6,800 acres in the Henry Mountain syncline of east-central Utah. The property is the subject of a joint venture agreement with Consolidated Abaddon. Consolidated Abaddon has an option to earn up to a 60-per-cent interest in the property by making payments to Utah Uranium totaling $550,000, issuing a total of 550,000 shares to Utah Uranium, and by fully financing a total of $605,000 in exploration and drilling expenditures over the 2 year life of the agreement.
The Henry Mountain syncline is an enclosed structural basin within the Colorado Plateau of southeastern Utah that is entirely underlain by the massive uranium-bearing salt wash sandstone member of the Morrison formation. The hydraulic migration of oxygenated water containing liberated uranium tends to flow down-dip within the formation into the trapped, oxygen free static water creating a zone of major ore concentration known as a roll-front environment.
The first discovery, known as the Tony M Mine, was made in the 1980's by Plateau Resources, a division of Michigan Light and Power and consists of 10,898,000 pounds U308. Subsequently, the Bullfrog Mine was discovered adjacent and north of the Tony M Mine by Imperial Oil Corp., and consists of an additional 12,924,000 pounds U308.These mines are currently owned by Denison Mines Corp. and are collectively known as the Henry Mountains complex, one of the largest known uranium resources in the Colorado Plateau district.
About Consolidated Abaddon Resources Inc.:
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, Sims Basin of western Labrador, and the Algoma District of northwestern Ontario. The Company is also developing a uranium property east of Moab, Utah.
Property partners include Denison Mines Corp., Triex Minerals Corp., and Utah Uranium 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 DO NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.
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