VANCOUVER, B.C., Oct. 5, 2007 (PRIME NEWSWIRE) -- Consolidated Abaddon Resources Inc. (TSX-V:ABN) (Frankfurt:E2L) announces that Denison Mines Corp. (TSX:DML), operator of its Huard-Kirsch Lakes uranium property, has informed the Company that Denison has identified a new target at the Huard-Kirsch Lakes uranium property, where Denison is earning 51% interest.
Athabasca Basin, Saskatchewan Claims Map: http://www.consolidatedabaddon.com/i/maps/ABN_Athabasca_Map_11X17.jpg
A single hole was drilled to a depth of 811 metres on an untested geophysical anomaly. The hole intersected favourable graphitic pelites at a depth shallower than expected. The occurrence of the unconformity and prospective uranium host rocks at shallower depths is a very positive development on the property. Expanded geophysical surveys are proposed before further drilling is undertaken.
The Huard-Kirsch Lakes property is located in the eastern Athabasca Basin of northern Saskatchewan and is situated approximately 20 km to the northwest of Cameco's McArthur River Uranium Mine. The Huard-Kirsch Lakes property consists of approximately 13,500 hectares. Denison Mines Corp. has the option to earn a 51% interest in the property from Consolidated Abaddon by incurring $1,500,000 of exploration expenditures on or before November 1, 2008.
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-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 For further information contact myself or: Don Myers Consolidated Abaddon Resources Inc. Director Telephone: 604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: info@consolidatedabaddon.com
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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.