Consolidated Abaddon Resources Inc.
TSX VENTURE : ABN
FRANKFURT : E2L

Consolidated Abaddon Resources Inc.

November 09, 2007 09:01 ET

Consolidated Abaddon Resources Inc.: Utah Uranium Receives Final Permit, Drill and Crew Mobilized

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 9, 2007) - Consolidated Abaddon Resources Inc. (TSX VENTURE:ABN) (FRANKFURT:E2L) announces that Utah Uranium Corp. has informed the Company it has filed the requisite reclamation bond and is now in receipt of final permits required for drilling the Pinto uranium property in East Central Utah.

Pinto Property Location Map:

http://www.consolidatedabaddon.com/i/maps/pinto-uranium-project.jpg

Having received the final permits, a drill crew and rig are currently being mobilized to the property, with drilling is to commence early the week of November 12th. Utah Uranium Corp. Technical Advisory Board member and expert uranium geologist Mr. Christian (Ted) Murer P.Geo, is joining other consulting geologists on site to assist in the overseeing of drilling activities.

The first phase drilling program will entail drilling of up to 20 holes out of a permitted 50-hole drill program. Results of the first phase drilling will be announced as received.

Pinto Project Proposed Drill Hole Map:

http://www.consolidatedabaddon.com/i/maps/ABN_Pinto_Drill_Map.jpg

The Pinto property consists of 344 mineral claims totally approximately 7,000 acres located the Henry Mountain Syncline Basin of East Central Utah. The property is the subject of a Joint Venture agreement between Consolidated Abaddon and Utah Uranium Corp. Consolidated Abaddon has an option to earn up to a 60% interest in the property by making payments to the Utah Uranium Corp. totaling $550,000 CDN, issuing a total of 550,000 shares to Utah Uranium Corp., and by fully funding a total of $605,000 CDN in exploration and drilling expenditures over the life of the agreement.

About the Pinto Uranium Property:

Utah Uranium Corp. acquired the Pinto claims from Christian (Ted) Murer P.Geo, the prospector geologist who conceptualized, discovered and currently holds a production royalty on the nearby Tony M Uranium Mine. Ted assembled the Pinto uranium claim package using the same data and methodology in the identical geologic setting as the Tony M and Bullfrog Uranium Mines on strike to the south, targeting the down dip accumulation of uranium and vanadium within the Salt Wash member of the Jurassic Morrison formation. The Morrison formation is approximately 250-300 ft. thick in this area. Drilling depth to the top of the Salt Wash will vary in depth from 50 to 150 ft. depending on dip and topography. The present plan is to define the north-south trend of uranium accumulations within the various sands of the Salt Wash based on known uranium deposits in the area and the applicable theories of mineral migration.

The potential of the Pinto claims, the first claim block to undergo drill permitting, is for high grade (for the area) uranium and vanadium deposits. Based on area extrapolations, the deposits could hold significant amounts of uranium and vanadium.

The Henry Mountain Syncline is an enclosed structural basin within the Colorado Plateau of southeastern Utah that is entirely underlain by the massive uranium bearing Salt Wash sandstone member of the Morrison formation. The hydraulic migration containing liberated uranium in solution within oxygenated waters flow down-dip within the formation into the trapped, oxygen free static waters within the basin, a reducing environment which precipitates out ore grade uranium resulting in a zone of major ore concentration, otherwise known as a roll-front environment.

The first discovery, known as the Tony M Mine, was made in the 80's by Plateau Resources, a division of Michigan Light and Power and consists of 10,898,000 pounds of uranium. Subsequently, the Bullfrog Mine was discovered adjacent and north of the Tony M Mine by Imperial Oil Corporation, and consists of an additional 12,924,000 pounds of uranium. These mines are currently owned by Denison Mines Corp. and are collectively known as the Henry Mountains complex, one of the largest known uranium resources in the Colorado Plateau district.

About Consolidated Abaddon Resources Inc.:

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, SIMS BASIN of western Labrador, and the ALGOMA DISTRICT of northwestern Ontario.

Property partners include Denison Mines Corp. and Triex Minerals Corp.

For further information on Consolidated Abaddon Resources Inc. (TSX VENTURE:ABN), visit our Company's website at www.consolidatedabaddon.com.

About Utah Uranium Corp.:

Utah Uranium Corp. is a Moab, Utah based junior exploration and development company focused on the acquisition of past producing underground uranium mines, highly prospective new uranium projects and other conventional and non-conventional energy projects. All of the uranium projects acquired to date, in addition to those under review by the Company are within economic haul distances of the White Mesa Uranium Vanadium Mill in Blanding, Utah owned by Dennison Mines Corp.

For further information on Utah Uranium Corp. visit their website at www.utah-uranium.com.

ON BEHALF OF THE BOARD OF DIRECTORS

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 and Frankfurt Stock Exchange have not reviewed and do 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: 1-800-567-8181
    (604) 687-3119 (FAX)
    or
    Consolidated Abaddon Resources Inc.
    Don Myers
    Director
    (604) 687-3376 or Toll Free: 1-800-567-8181
    (604) 687-3119 (FAX)
    Email: info@consolidatedabaddon.com
    Website: www.consolidatedabaddon.com