Triex Minerals Corporation

Triex Minerals Corporation

September 26, 2005 17:06 ET

Triex Options Mann Lake Uranium Property, Athabasca Basin, Saskatchewan

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 26, 2005) -


Triex Minerals Corporation (TSX VENTURE:TXM) ("Triex") and Consolidated Abaddon Resources Inc. ("Abaddon") are pleased to announce they have entered into an Option/Joint Venture Agreement under which Triex has the right to acquire a 70% interest in Abaddon's Mann Lake uranium property.

The Mann Lake property is located in the eastern Athabasca Basin, Saskatchewan and is approximately 25 km southwest of the McArthur River Mine, the largest high-grade uranium deposit in the world. This property is approximately 15 km to the northeast of Cameco Corporation's recently discovered Millennium Deposit, and occurs at the northern extent of the B1 Conductor that is spatially associated with the Millennium Deposit.

Triex can earn an initial 51% interest in the property by incurring $1,500,000 of exploration expenditures on or before March 20, 2007, and making a cash payment of $50,000. The Company can increase its interest to 60% by making an additional cash payment of $50,000 and incurring a further $1,000,000 in expenditures on or before March 20, 2008, and can increase its interest further to 70% by making additional cash payment of $25,000 and incurring an additional $1,000,000 on or before March 20, 2009. Upon completion of the earn-in requirements, a 70:30 joint venture agreement will be formed with Triex as the operator. This transaction is subject to acceptance by the TSX Venture Exchange.

Initially, Triex will undertake a detailed ground geophysical survey by April 30, 2006 to further define current targets. A 5,000 m follow-up diamond drill program is planned, and will be undertaken this winter immediately following the geophysical surveys, if possible.

Previous work on the property includes a time-domain electromagnetic (TEM) moving loop survey completed in 1999 which identified four target conductors. Abaddon completed a ground-based gravity survey in 2005 which highlights features at the northern discontinuity of the B1 conductor. Both surveys were completed on east-west lines, perpendicular to the B1 conductor. Follow-up gravity, TEM and resistivity work will include both infill survey lines on existing grids, and new orthogonal surveys conducted on north-south oriented lines in order to better interpret features in the area of discontinuity of the B1 conductor.

Dr. Michael Gunning, Ph.D., P.Geo., Vice President Exploration of Triex Minerals, is a Qualified Person as defined by National Instrument 43-101 and is responsible for program design and quality control of exploration undertaken by Triex Minerals Corporation.

Triex is a Canadian junior exploration company with seven main uranium projects in North America. Drill programs are planned for the upcoming 2005/2006 winter season on the West Carswell Property located northwest of the Shea Creek Deposit in the western Athabasca Basin, and prior to spring break-up in 2006 at the Mountain Lake Deposit in the Hornby Basin in Nunavut. For Triex property locations, visit the Company's web site at


Randy Turner, President

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

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