Absolut Resources Corp.

Absolut Resources Corp.

November 01, 2005 08:30 ET

Absolut to Raise CDN$1.8 Million In Private Placement

TORONTO, ONTARIO--(CCNMatthews - Nov. 1, 2005) - Absolut Resources Corp. (ABS)(TSX VENTURE:ABS) wishes to announce a non-brokered private placement of up to 3,000,000 units of the Company at a price of $0.60 per unit, for total proceeds of $1,800,000. Each unit will consist of one common share and one-half of one non-transferable common share purchase warrant (each full warrant termed a "Warrant"). Each Warrant is exercisable into one additional common share of Absolut at an exercise price of $1.00 per share for a period of eighteen months from the closing date of the private placement. Proceeds of the private placement, which is subject to the approval of the TSX Venture Exchange, will be used to further advance the Company's Pico Machay Gold Project in Peru.

Absolut Resources Corp.
Exchange Tower
130 King St West, Suite 3680 Box 99
Toronto, Ontario, M5X 1B1

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

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