Consolidated Abaddon Resources Inc.
TSX VENTURE : ABN

Consolidated Abaddon Resources Inc.

October 26, 2005 08:30 ET

Consolidated Abaddon Resources Inc.: Triex Minerals Announces Exploration Plans for Mann Lake Uranium Property, Athabasca Basin, Saskatchewan

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 26, 2005) - Consolidated Abaddon Resources Inc. (TSX VENTURE:ABN) is pleased to report that Triex Minerals Corp. (TSX VENTURE:TXM) has announced its plans to commence exploration on the Mann Lake property located in the eastern Athabasca Basin, approximately 15 kilometres to the northeast of Cameco Corporation's recently discovered Millennium uranium deposit. Triex Minerals has an option to earn up to 70% in the property from Consolidated Abaddon (see Sept. 26, 2005, news release). To date, previous exploration on the Mann Lake property includes a time-domain electromagnetic (TEM) moving loop survey and a ground-based gravity survey in 2005, which identified four target conductors. An estimated $200,000 program of gravity, TEM and resistivity will be carried out in November to further define the previously outlined EM conductors. A 5,000 metre drill program is currently being proposed to test these conductors following the completion of the ground geophysical survey.

Map: http://www.consolidatedabaddon.com/i/maps/athabascaclaims.jpg

Triex Minerals Corp. can earn an initial 51% interest in the Mann Lake property by incurring $1,500,000 of exploration expenditures on or before March 20, 2007, and making a cash payment of $50,000. Triex Minerals can increase its interest to 60% by incurring a cumulative $2,500,000 of expenditures on or before March 20, 2008, and can further increase its interest to 70% by spending a cumulative $3,500,000 on or before March 20, 2009, cumulative cash payments will be $125,000 at 70% earn-in. Upon completion of the earn in requirements, a 70 / 30 joint venture agreement will be formed with Triex Minerals as operator.

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.

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
    Website: www.consolidatedabaddon.com