Abitibi Mining Corp.
TSX VENTURE : ABB

Abitibi Mining Corp.

September 23, 2009 09:31 ET

Abitibi Mining Acquires Four Gold Properties in West Timmins District

- PROPERTIES ACQUIRED IN PROXIMITY TO DESTOR-PORCUPINE FAULT ZONE

- COMPANY FOCUSED ON PRECIOUS METAL EXPLORATION

VANCOUVER, BRITISH COLUMBIA--(Marketwire- Sept. 23, 2009) - ABITIBI MINING CORP. (TSXVENTURE:ABB) (the"Company") is pleased to announce, subject to regulatory approval, the acquisition of a 100% interest in the Armstrong Lake, Ivanhoe, Muskego and Foleyet properties.

To view a map of Abitbi's recently acquired gold properties in the West Timmins district please click on the following link:

http://media3.marketwire.com/docs/923map.pdf

"We are pleased with the acquisition of these gold properties and with the depth they add to Abitibi's precious metals portfolio. The Tannahill gold project in the Larder Lake Mining Division will also continue to be a focus for the Company moving forward," comments Company Chairman, Richard Hughes.

The Armstrong Lake property consists of 10 claims (97 units) located in the Keith and Penhorwood Townships of Porcupine Mining Division. The property is accessible by road and is approximately 70 km southwestof Timmins. Consideration for the property consists of $105,000 and 400,000shares. A further 100,000 shares are to be issued upon completion of a positive feasibility study. There is a 3% NSR, 1% of which may be purchased for $1,000,000.

The Foleyet property consists of 8 claims (113 units) located in the Foleyet Township of Porcupine Mining Division. The property is accessible by road and is approximately 75 km southwest of Timmins. Consideration for the property consists of $140,000 and 400,000 shares. A further 100,000 shares are to be issued upon completion of a positive feasibility study. There is a 3% NSR, 1% of which may be purchased for $1,000,000.

The Ivanhoe property consists of 232 units and is located in the Ivanhoe Township of Porcupine Mining Division. The property is accessible by road and is approximately 75 km southwest of Timmins. Consideration for the property consists of $180,000 and 400,000 shares. A further 100,000 shares are to be issued upon completion of a positive feasibility study. There is a 3% NSR, 1%of which may be purchased for $1,000,000.

The Muskego property consists of 6 claims (81 units) and is located in the Muskego Township of Porcupine Mining Division. The property is accessible by road and is approximately 75 km southwest of Timmins. Consideration for the property consists of $140,000 and 400,000 shares. A further 100,000 shares are to beissued upon completion of a positive feasibility study. There is a 3% NSR, 1%of which may be purchased for $1,000,000.

The Company has also arranged for a private placement of up to 10,000,000 units for total proceeds of up to $400,000. The financing will consist of flow through units priced at $0.04 per unit and non-flow through units priced at $0.03 per unit. Each of the units will consist of one flow through or non-flow through common share and one non-flow through, non-transferable share purchase warrant entitling the holder to purchase one additional common share for five years at a price of $0.05 per share in the first year and $0.10 per share forthe remaining four years. In accordance with Exchange policies, finders' fees may be paid on the funds raised. The private placement is subject to regulatory approval.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or resultscould differ materially from the Company's expectations and projections.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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