ABC Mining Ventures Inc.

August 30, 2007 20:53 ET

ABC Mining Ventures Inc. Qualifying Transaction Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 30, 2007) - ABC Mining Ventures Inc. (TSX VENTURE:AMV.P), a capital pool company, reported that it has received conditional acceptance from the TSX Venture Exchange of its qualifying transaction with Dundee Mines Ltd. and concurrent private placement of 4,000,000 common shares for gross proceeds of $1,120,000.

ABC has agreed to issue 7 million common shares to the shareholders of Dundee in consideration of acquiring all the issued and outstanding shares of Dundee on the basis of one share of Dundee for one share of ABC. As a result of the transaction, ABC will acquire all the assets and liabilities of Dundee and Dundee will become a wholly-owned subsidiary of ABC. The principal asset of Dundee is the Yankee-Dundee Project located near Ymir, BC. The project comprises 119 optioned claims and titles covering 4,569 hectares and includes the historic Yankee Girl and Dundee mines which were developed along a series of parallel quartz veins within the Ymir camp. The veins produced high-grade gold and silver ores with sometimes significant base metal credits. The transaction and issuance of shares thereunder are subject to regulatory approval, including that of the Exchange.

Subsequent upon closing of the transaction and concurrent private placement, ABC will have 15,431,200 common shares issued and outstanding. The 8,019,400 common shares held by principals of ABC will be placed in escrow to be released in stages in accordance with applicable securities regulatory policies. A further 898,100 common shares will be subject to a 2 year hold period with 20% released every 6 months with the first release upon closing of the transaction. The 4,000,000 common shares issued pursuant to the private placement will be subject to a 4 month hold period.

ABC expects that the transaction will close on September 13, 2007.

For more information about ABC and the Transaction, please view ABC's CPC Filing Statement available on SEDAR (

On behalf of the Board of Directors,

Lawrence Page, Q.C., President, Director

ABC Mining Ventures Inc.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.

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