Thu Jan 3, 2008 Shares issued for Pinto Uranium Property, Utah Option Agreement
Vancouver, BC - Consolidated Abaddon Resources Inc. (TSX-V: ABN) (FWB: E2L) announces that further to its News Release dated October 26, 2007, the Company has issued 100,000 common shares in connection with its Option and Joint Venture Agreement with Utah Uranium Corp. whereby the Company has been granted an option to earn up to a 60% interest in the Pinto Uranium property, 344 mineral claims, approximately 7,000 acres, located in the Henry Mountain Syncline Basin of East Central Utah.
Click Here for Pinto Uranium Property Location Map
The Pinto Uranium property is subject to an underlying 4% royalty payment on uranium (U308) and a 2% royalty on vanadium. The Company and Utah Uranium may purchase 50% of the 4% U308 royalty for $3,000,000. The shares being issued are subject to a four month hold period and shall not trade before April 22, 2008.
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
"Don Huston"
____________________________
DONALD C. HUSTON
Director
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 EXCHANGE HAVE NOT REVIEWED AND DO NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
You can view the Next News Releases item: Tue Jan 29, 2008, Joint Venture Announced with Utah Uranium Corp. on Wild Claims, Drilling to commence Shortly
You can view the Previous News Releases item: Mon Dec 17, 2007, Incentive Stock Options Granted
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