Absolut Resources Corp.
TSX VENTURE : ABS

Absolut Resources Corp.

November 19, 2007 02:00 ET

Absolut Resources Corp.: Drill Out Completed at Pico Machay Plus Positive Metallurgy Testwork

TORONTO, ONTARIO--(Marketwire - Nov. 19, 2007) - Absolut Resources Corp. (TSX VENTURE:ABS) is pleased to report the final results from the definition drilling program on the Pico Machay Gold Project in Peru. It also reports that preliminary metallurgical testwork on Pico Machay samples has indicated that cyanide leaching would yield good recoveries of gold and silver.

The drilling confirms the continuity of near surface mineralisation which, supported with favourable preliminary metallurgical results, demonstrates the feasibility of a low capital cost, heap leach operation at Pico Machay.

Highlights of the drilling were holes ABS-242 intersecting 100m @ 0.83 g/t Au, including 7.5m @ 2.13 g/t Au and 27m @ 1.26 g/t Au; ABS-234 intersecting 80.5m @ 0.71 g/t Au, including 16.5m @ 1.46 g/t Au. All results are tabulated below:



Pico Machay - Drill Hole Gold Grade Summary
-----------------------------------------------------
From To Length Gold grade
Hole (m) (m) (m) (g/t)
-----------------------------------------------------
ABS-231 8.5 35.5 27.0 0.33
-----------------------------------------------------
58.0 100.0 42.0 0.34
-----------------------------------------------------
ABS-232 0.0 88.0 88.0 0.70
-----------------------------------------------------
including 53.5 71.5 18.0 1.75
-----------------------------------------------------
ABS-233 0.0 80.5 80.5 0.43
-----------------------------------------------------
including 20.5 26.5 6.0 1.12
-----------------------------------------------------
ABS-234 0.0 80.5 80.5 0.71
-----------------------------------------------------
including 1.0 17.5 16.5 1.46
-----------------------------------------------------
including 67.0 71.5 4.5 1.05
-----------------------------------------------------
ABS-235 13.0 31.0 18.0 0.44
-----------------------------------------------------
41.5 52.0 10.5 0.32
-----------------------------------------------------
58.0 82.0 24.0 0.39
-----------------------------------------------------
ABS-236 0.0 100.0 100.0 0.44
-----------------------------------------------------
ABS-237 0.0 47.5 47.5 0.42
-----------------------------------------------------
55.0 67.0 12.0 0.33
-----------------------------------------------------
79.0 89.5 10.5 0.50
-----------------------------------------------------
ABS-238 0.0 37.0 37.0 0.36
-----------------------------------------------------
61.0 80.5 19.5 0.50
-----------------------------------------------------
ABS-239 0.0 23.5 23.5 0.62
-----------------------------------------------------
including 8.5 16.0 7.5 1.57
-----------------------------------------------------
28.0 38.5 10.5 0.35
-----------------------------------------------------
ABS-240 4.0 25.0 21.0 0.61
-----------------------------------------------------
ABS-241 0.0 41.5 41.5 0.90
-----------------------------------------------------
including 0.0 4.0 4.0 1.47
-----------------------------------------------------
including 22.0 31.0 9.0 1.50
-----------------------------------------------------
ABS-242 0.0 100.0 100.0 0.83
-----------------------------------------------------
including 17.5 25.0 7.5 2.13
-----------------------------------------------------
including 41.5 68.5 27.0 1.26
-----------------------------------------------------
ABS-243 No significant
-----------------------------------------------------
ABS-244 0.0 56.5 56.5 0.56
-----------------------------------------------------
including 22.0 40.0 18.0 1.04
-----------------------------------------------------
65.5 100.0 34.5 0.40
-----------------------------------------------------
ABS-245 0.0 70.0 70.0 0.68
-----------------------------------------------------
including 32.5 56.5 24.0 1.18
-----------------------------------------------------
ABS-246 No significant
-----------------------------------------------------
(i)Intersections are calculated using a 0.3 g/t Au cut-off and up to 1.5m
of internal dilution


A series of metallurgical tests are ongoing in order to determine the maximum mineral recovery and optimum operational parameters, these include:

- Solubility Tests: To determine if gold responds to leaching with sodium cyanide solution.

- Bottle Roll Tests: To determine the maximum possible extraction of gold under conditions similar to operating conditions.

- Column Leach Tests: To determine the possible recoveries from a heap leach scenario. This type of tests aims to simulate the operating conditions, such as the size of the particle, PH, cyanide concentration, float flow, etc.

Highlights of the Column leach tests, which were designed to determine the possible recoveries from a heap leach operation, returned recoveries of greater than 87% on samples from the silicified and advanced argillic zones, whilst a blended sample of silicified and argillic altered rock returned recoveries of 74%. The testwork was carried out with solution of 50 ppm cyanide concentration. Further tests with greater cyanide concentrations will be carried out to determine the optimal cyanide concentration for maximum gold recovery.

The results of the three types of tests completed to date were as follows:

Table 1: SOLUBILITY TESTS



---------------------------------------------------
MINERAL SOLUBILITY
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Alteration Type SOLUBILITY(%)
-------------
Au Ag
---------------------------------------------------
Silicio L1 89.23 93.89
---------------------------------------------------
Advanced Argilic L2 91.46 83.77
---------------------------------------------------
Argilic L3 96.17 74.62
---------------------------------------------------
Blended Silicic & Argillic L1+L3 87.82 67.53
---------------------------------------------------


From the three alteration types, the argillic alteration produced the best average gold solubility solubility results of greater than 96%, whilst solubilities for the other alteration types averaged approximately 90%. As an operational scenario, a 1:1 blend of the two most extensive alteration types within deposit was tested and returned a solubility of about 88%. In general, solubility above 80% indicates that the gold present in the mineral will be easily extracted by a cyanide solution. Silver follows a trend similar to that of the gold.

Table 2: BOTTLE ROLL TESTS



--------------------------------------------------------------------
BOTTLE ROLL TESTS
--------------------------------------------------------------------
50 ppm (CN) 500 ppm (CN)
-----------------------------
Alteration RECOVERY (%) RECOVERY (%)
-----------------------------
Au Ag Au Ag
--------------------------------------------------------------------
Silicic L1 82.76 43.01 90.54 52.86
--------------------------------------------------------------------
Advanced Argilic L2 87.8 22.28 89.76 44.44
--------------------------------------------------------------------
Argilic L3 90.77 45.51 91.34 54.25
--------------------------------------------------------------------
Blended Silicio & Argillic L1+L3 80.43 26.25 86.27 39.93
--------------------------------------------------------------------


All the results obtained show that the gold recovery is above 80%, confirming that the gold present in the mineral will be easily extracted by the leaching process with sodium cyanide.

Table 3 COLUMN LEACH TESTS



---------------------------------------------------
COLUMN LEACH TESTS
---------------------------------------------------
50 ppm (CN)
-----------
Alteration RECOVERY(%)
-----------
Au Ag
---------------------------------------------------
Silicio L1 87.17 32.28
---------------------------------------------------
Advanced Argillic L2 87.41 15.73
---------------------------------------------------
Argillic L3 64.43 19.89
---------------------------------------------------
Blended Silicic & Argillic L1+L3 74.13 18.54
---------------------------------------------------


With these first series of column leach tests, the expected recoveries are getting closer to that to be expected at a run of mine heap leach operation. The initial tests have been performed with a solution of 50 ppm cyanide concentration. Tests using higher concentrations of cyanide will be performed to determine the optimum cyanide concentration to achieve maximum recovery.

Pico Machay is characteristic of a high-sulphidation, epithermal gold system. The geological model has been repeatedly tested and additional drilling continues to delineate and expand the resource base.

The Company previously announced an independent preliminary Mineral Resource Estimate indicating an inferred in situ resource of 580,000 ounces of gold (24.8 million tonnes grading 0.73 g/t Au) at Pico Machay Gold Project (see news release Sept. 26, 2005). The Mineral Resource Estimate was prepared by Caracle Creek International Consulting Inc. (CCIC), of Sudbury, Canada. The Mineral Resource was calculated using a 0.3 g/t gold cut-off and comprises 436,623 ounces gold in the Oxide and Mixed Zones (15.9 million tonnes grading 0.85 g/t Au) and 145,579 ounces gold in the Sulphide Zone (8.9 million tonnes grading 0.51 g/t Au). The Resource calculated for the Oxide and Mixed Zones lies above an average depth of 75 metres.

Absolut has implemented a quality control program to ensure best practice in chemical sampling and analysis of surface and reverse circulation drilling samples.

All drilling has been performed using a Reverse Circulation Drill Rig. Samples are split on site under the supervision of Absolut Resources geologists. Sampling is done on one and a half meter intervals and samples are transported by Company staff to Santa Ana, Peru for direct shipping to Acme Laboratories in Lima, Peru. Acme Analytical Laboratories is an ISO 9001:2000-registered laboratory. Gold values are obtained by a 50 gram fire assay.

The metallurgical samples were taken from road cuts and drilling platforms, with an average linear extension of 50m, for an approximate weight of 2 tons (2,000 Kilos), from each sampling area. The samples were placed in polyethylene water proof bags of approximately 40 kilos each. All these bags were duly classified and enumerated by sampling areas.

The samples were transported by company staff to Santa Ana Peru for direct shipping to TECMMINE (Tecnologia Minera Metalurgica Industrial Empleada E.I.R.L.) in Lima, Peru. The metallurgical tests were supervised by Jose Mallqui Romayna, Metallurgical Engineer.

Absolut Resources Corp. is a precious metals exploration and development company based in Toronto, Canada. Absolut strongly believes in an international best practices approach, and implements this on all its social and environmental decisions. The required qualified person for the Pico Machay Gold Project is Mr. Dan Noone who is a member of the Australian Institute of Geoscientists and is the President and CEO of Absolut Resources Corp.

FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements. The actual results could differ materially from a conclusion, forecast or projection in the forward-looking information. Certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information.

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

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