Absolut Resources Corp.
TSX VENTURE : ABS

Absolut Resources Corp.

June 28, 2005 00:59 ET

Absolut Confirms North-Eastern Extension at Pico Machay

TORONTO, ONTARIO--(CCNMatthews - June 28, 2005) - Absolut Resources Corp. (ABS) (TSX VENTURE:ABS) is pleased to announce further drilling results from its Phase Three reverse circulation drill program completed on the Pico Machay, High Sulphidation Gold Project in Peru. Highlights include ABS-148 intersecting 41.5m @ 1.75 g/t Au and ABS-153 intersecting 51.0m @ 1.02 g/t Au.

ABS-148 is located on the north-eastern extension of the main zone between the previously reported ABS-143 (46.5m @ 1.49 g/t Au) and ABS-135 (30m @ 2.32 g/t Au) (see Company press releases dated June 8 and June 20, 2005). This higher grade extension of the main body, which is open to the northeast, confirms the new geological interpretation that the mineralization is wrapping around the dacite dome as opposed to the original concept of a linear body with an east to west orientation.

ABS-153 is the most southerly drillhole to date on section E1980 and extends the mineralization 70m to the south. Also of note was ABS-154 which intersected 21m @ 1.62 g/t Au and is located to the north of the dacite dome and is further evidence that the mineralisation is forming a halo around the dome.

For drill hole locations and sections please visit the following link: http://www.absolutresources.com/news/2005/pr_image062805.htm

Drill results, calculated using a 0.3 g/t Au cut-off and up to 1.5m of internal dilution are as follows:



Length Grade
Hole From To (m) (g/t Au)
ABS-146 1.0 4.0 3.0 0.44
14.5 17.5 3.0 0.24

ABS-147 0.0 22.0 22 0.51

ABS-148 0.0 41.5 41.5 1.75

ABS-149 8.5 28.0 19.5 0.82
43.0 53.5 10.5 0.97
65.5 94.0 28.5 1.27
110.5 113.5 3.0 0.75
121.0 131.5 10.5 0.61
134.5 137.5 3.0 0.33
140.5 148.0 7.5 0.52

ABS-150 0.0 16.0 16.0 0.49
29.5 34.0 4.5 0.51
38.5 41.5 3.0 0.49
44.5 52.0 7.5 0.64
61.0 67.0 6.0 0.47
80.5 83.5 3.0 0.69

ABS-151 0.0 8.5 8.5 0.58
140.5 149.5 9 0.62

ABS-152 2.5 5.5 3.0 0.55
16.0 28.0 12.0 0.39
50.5 53.5 3.0 0.48
61.0 65.5 4.5 0.63
70.0 79.0 9.0 0.68
82.0 85.0 3.0 0.47

ABS-153 2.5 7.0 4.5 0.49
44.5 49.0 4.5 1.38
55.0 106.0 51.0 1.02

ABS-154 12.0 15.0 3.0 1.39
34.5 55.5 21.0 1.62

ABS-155 No significant intersections


As a reference, the Newmont / Buenaventura Yanacocha high sulphidation gold mine has an overall grade of 0.96 g/t Au at a cut off of 0.35 g/t Au.

Absolut's wholly owned subsidiary, Minera Calipuy SAC has an agreement with Monterrico Metals PLC to earn up to a 75% interest in the Pico Machay gold project.

Absolut has implemented a quality control program to ensure best practice in chemical sampling and analysis of surface and reverse circulation drilling samples. Analytical services are provided for by ALS Chemex Laboratories in Lima and North Vancouver.

Absolut Resources Corp. is a precious metals exploration and development company based in Toronto, Canada. Absolut 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.

This press release contains forward looking statements.

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

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