Wed May 21, 2008 Triex Minerals Completes Drilling at Mann Lake Uranium Project, Athabasca, Saskatchewan
Vancouver, BC - Consolidated Abaddon Resources Inc. (TSX-V: ABN) (FWB: E2L) announces that Triex Minerals Corp. (TSX-V: TXM) has provided an exploration update on Consolidated Abaddon's 40% owned / Triex Minerals 60% owned Joint Venture Mann Lake uranium project. The Mann Lake property is located 25 kilometres southwest of Cameco Corporation's McArthur River uranium mine and 15 km to the NE of Cameco's Millennium (U3O8) discovery in the Athabasca Basin of Northern Saskatchewan. Triex Minerals is the operator.
The second part of the winter drill program at Mann Lake ended in April. Hole MN08-010 was completed to 752 metres depth. No significant zones of radioactivity were encountered. A fixed-loop EM conductor that occurs on Marean Lake along the east-west structure that transects the property remains to be tested. Holes MN06-002 and 005 which intersected elevated boron, and clay-altered Athabasca Group sandstone, are located along this structure to the east of the lake (see photos at www.triexminerals.com).
In other news, the Company announces that, subject to the acceptance of the TSX Venture Exchange, it will re-price the exercise price of 2,500,000 share purchase warrants issued by the Company on April 11, 2007. The warrants, which are currently exercisable at a price of $0.60 per common share until April 11, 2009, will be re-priced to an exercise price of $0.27 per share. As required by TSX Venture Exchange policy, the terms of the warrants will be amended to shorten the exercise period to a period of 30 days if, for ten consecutive trading days, the closing price of the shares exceeds the revised exercise price by the applicable private placement discount. The 30 day period commences 7 calendar days after the tenth trading day.
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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