Consolidated Abaddon Resources Inc.
TSX VENTURE : ABN

Consolidated Abaddon Resources Inc.

October 13, 2005 08:30 ET

Consolidated Abaddon Resources Inc.: Preliminary Ground Evaluation for Uranium & Nickel-Copper Targets Completed on Labrador Properties

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 13, 2005) - Consolidated Abaddon Resources Inc. (TSX VENTURE:ABN) has completed its preliminary ground evaluation of uranium targets on its Gabbro and Sims Lake mineral claims in western Labrador. BHP Billiton and Gallery Resources Limited participated in the evaluation of the airborne electromagnetic conductors associated with the Shabogamo gabbro (nickel-copper) in the Gabbro Lake project area as part of their Joint Venture with Consolidated Abaddon Resources Inc.
Map: http://www.consolidatedabaddon.com/i/maps/simsgabbro.jpg

The preliminary ground exploration program consisted of a detailed scintillometer survey, a VLF survey, and detailed prospecting and mapping. Consolidated Abaddon is very encouraged with the initial data that has been received to date from the ground surveys. Numerous boulders of fractured, gossanous graphitic sediments of the Knob Lake group containing elevated uranium values were responsible for the bulk of the radiometric anomalies from the airborne survey. Of particular significance was the ground truthing of an airborne electromagnetic conductor located at the base of the Sims formation.

The Sims formation is a flat lying clastic sequence of late proterozoic age that overlies deformed sediments of the early proterozoic Knob Lake Group. The similarity in ages and relationships between these groups of rock makes the setting analogous to many other proterozoic basins around the world that host 'unconformity-type' uranium deposits, most notably the Athabasca Basin of Northern Saskatchewan.

The Sims formation is up to 650 metres thick overlying the Knob Lake Group. The formation consists of a basal conglomerate 25 to 40 metre thick overlain by arkose and sandstone members. The entire formation is oxidized. The remains of the Sims formation make up several large plateaus that dominate the topography of the area. Knob Lake group rocks are exposed in the low ground between these plateaus.

The lower section of the Sims formation is exposed along the eastern edge of one of the plateaus on Consolidated Abaddon's north block. Lake sediments with elevated to anomalous uranium values were identified in this area in 1980 and prospecting to date has located numerous boulders of Sims formation carrying elevated uranium values near the unconformity.

The airborne survey conducted by Consolidated Abaddon in July 2005 identified conductors that are interpreted to lie in Knob Lake group rocks underlying the Sims formation at this location. The locations of these anomalies were confirmed with a reconnaissance VLF survey. These conductors lie at the glacial debris choked base of plateau less than 25 metres from an exposure of the basal conglomerate of the Sims formation. The conductors are located along an area of unconformity (approx. 8 km long) that separates the flat laying Sims group of rock types and the steeply dipping shales, quartite and iron formations of the Knob Lake group.

Consolidated Abaddon has an Option Agreement in place with BHP Billiton and Gallery Resources Ltd., whereby BHP Billiton and Gallery can earn a 51% interest in Consolidated Abaddon's Sims Lake and Gabbro Lake properties in Labrador by spending $1.3 million over 3 years. The Option Agreement relates to all non-uranium metals.

BHP Billiton and Gallery are completing a detailed evaluation (nickel-copper) of the recently completed ground truthing of the airborne electromagnetic conductors encountered on the Gabbro Lake Project at this time. Consolidated Abaddon is completing a comprehensive report on the exploration results regarding the potential of U3O8 sources on the 2 properties.

David J. Busch, B.A., B.Sc., PGeo. is the qualified person, under the meaning of National Instrument 43-101, and has reviewed the data in this News Release.

Consolidated Abaddon Resources Inc. is pleased to announce that Amanda Chow has consented to act as a Director of the Company. Ms. Chow is a certified management accountant (CMA) and has worked with public companies during the last five years. The appointment to the Board of Directors is subject to the acceptance of the TSX Venture Exchange. The Company announces that Robert Paul has resigned as a Director of Company.

Consolidated Abaddon Resources Inc. is a Canadian uranium exploration company actively involved with the development of uranium properties in the ATHABASCA BASIN of northern Saskatchewan and the SIMS BASIN of northwestern Labrador. The Company is also developing a gold project in the Red Lake Mining District on northwestern Ontario.

For further information on Consolidated Abaddon Resources Inc. (TSX.V: ABN), visit the Company's web site at www.consolidatedabaddon.com.



ON BEHALF OF THE BOARD OF DIRECTORS

"Jim Pettit"

James G. Pettit
President


This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.

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

Contact Information

  • Consolidated Abaddon Resources Inc.
    James G. Pettit
    President
    (604) 687-3376 or Toll Free: 800-567-8181
    or
    Consolidated Abaddon Resources Inc.
    Don Myers
    VP Corporate Communications
    (604) 687-3376 or Toll Free: 800-567-8181
    (604) 687-3119 (FAX)
    Email: info@consolidatedabaddon.com