VANCOUVER, B.C., Sept. 20, 2006 (PRIMEZONE) -- Consolidated Abaddon Resources Inc. (TSX.V:ABN) (Frankfurt:E2L) announces a $1.2 million, first-phase drilling program has commenced at the Company's Mann Lake property. The property comprises 3,473 hectares in one claim block. Triex Minerals Corp. (TSX.V:TXM) has the option to earn up to a 70% interest in the property from Consolidated Abaddon (see September 26, 2005 news release). Triex Minerals is the project operator.
Mann Lake U3O8 Project, Saskatchewan Location Map: http://www.consolidatedabaddon.com/i/maps/ABN_Athabasca_Map_11X17.jpg
This work follows-up ground geophysics done in January (gravity and Moving Loop TEM; see Press Release dated January 19th, 2006) and a high-resolution (100 m line spacing), 670 line-km helicopter-borne V-TEM survey (magnetics and electromagnetics) done in May. Additional geophysical and remotely sensed data sets have been acquired from the public and private domain and integrated into the Company's existing project GIS database in order to facilitate a detailed lineament analysis which is focused on the potential for structurally controlled uranium.
The current drill program plans for six holes totaling approximately 4,000 m. Drill-intersected depth to basement to the east of the property is in the order of 520 m. Hy-Tech Drilling Ltd. of Smithers, B.C., mobilized to the Property on September 9th, and drilling is now underway. The work is helicopter-supported, with road-access some 12 km to the east. The program is expected to take six to eight weeks to complete.
This program will test two high priority targets, with future drilling required to evaluate all prospective areas on the Property. All targets are based on an integration of boron and clay alteration anomalies in surface boulders (assessment data), discreet northerly trending conductors, sharp magnetic contacts, resistivity changes in Athabasca Group sandstone, and structural features.
The Mann Lake Property is located in the eastern Athabasca Basin, approximately 25 kilometres southwest of the McArthur River Mine, the largest high-grade uranium deposit in the world. It is 15 km to the northeast along-strike of Cameco's recently discovered Millennium deposit (drill-indicated resource as of Dec. 31, 2005 of 449,000 tonnes uranium at 4.63% U308; Cameco Corporation, 2006 CIM Uranium Field Conference, Program with Abstracts). The areas immediately east and west of the Property are being actively explored, and several new basement-hosted uranium occurrences have been discovered and announced in the past six months.
Sims Lake Uranium property, Labrador
Consolidated Abaddon announced on August 31st that the summer/fall exploration program on Consolidated Abaddon's Sims Lake uranium project located northwest of Churchill Falls in western Labrador is now underway. International Uranium Corporation is the operator and has been granted the right and initial option to acquire a 51% interest in the uranium rights to the Sims Lake property over a period of two years.
Sims Lake U3O8 Project, Labrador Location Map: http://www.consolidatedabaddon.com/i/maps/ABN-Sims-Gabbro.jpg
It is anticipated that the initial drilling will consist of 4-5 holes covering two main target areas. A conductor has been confirmed as lying beneath the Sims Formation rocks at or near the unconformity with the Knob Lake type rocks. Reducing environments (conductors) in this environment present attractive uranium drill targets.
The similarity in ages and relationships between the Sims Lake Formation and the Knob Lake group of rocks makes the western Labrador setting analogous to other Proterozoic basins around the world that host unconformity type uranium deposits, most notably the Athabasca Basin of northern Saskatchewan. The depth to the perceived unconformity in the Sims Lake Basin ranges from surface to 150 metres on the property.
Seel Cu-Au-Ag property, British Columbia
In other news, Gold Reach Resources Ltd, as operator, has announced a phase 3 drill program on Consolidated Abaddon's 10% owned Seel property located 120 kilometres south of Houston, B.C., is under way. This program will be used to further expand and define the copper-gold resource surrounding holes SO-06 and SO-24 where intersections averaged 0.44 per cent Cu and 0.46 gram per tonne Au over 100 metres. Data from this program will be released pending completion.
Seel Cu-Au and Ag Project, British Columbia Map: http://www.consolidatedabaddon.com/i/pdf/ABN_Seel_Map.pdf
David J. Busch, B.A., B.Sc., PGeo., VP of Exploration, 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 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 west Labrador. Property partners include International Uranium Corporation and Triex Minerals Corp.
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 "Don Huston" ------------------------------- DONALD C. HUSTON Director
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.
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 and Exchange Commission.