2009-09-30 09:03:03 -
London, September, 30, 2009
Suite 2230, 885 West Georgia Street, Vancouver, BC, V6C 3E8, CANADA
www.consolidatedabaddon.com
Trading Symbol (TSX-V: ABN), (Frankfurt: Telephone: (604)
E2L) 687-3376
Email: info@consolidatedabaddon.com Facsimile : (604)
687-3119
NEWS RELEASE
September 30, 2009
Consolidated Abaddon Begins Exploration
on Raleigh Lake Lithium Project
Vancouver, BC - Consolidated Abaddon Resources Inc. (TSX-V: ABN)
(FWB: E2L) (the "Company") announces that a fall work program has
commenced on its newly acquired 560 acres Raleigh Lake Lithium claims
located Kenora Mining Division in Northwestern Ontario.
Raleigh Lake lithium property map:
www.consolidatedabaddon.com/s/Image.asp?i=maps/ABN_Raleigh_Lake. ..
A crew has been mobilized to the Raleigh Lake Lithium project. The
initial exploration program will consist of compilation of previous
data from a modest drill program that was completed in 1999, locating
of drill collars in the field and the re-logging of existing core. A
detailed mapping program of abundant lithium bearing pegmatite
outcrops located on the Raleigh Lake property and a tightly spaced
detailed magnetometer program to better define the known geological
structures will also be completed.
Raleigh Lake lithium bearing pegmatites have been known in the area
since the 1960's. Ontario Provincial Government mapping in the 1990's
identified a 'Pegmatite Field' trending through the area. A modest
drilling program by Avalon Ventures Ltd. in 1999 and 2000 defined
several stacked shallow dipping (20-30 degrees) tantalum-lithium
bearing dikes in several drill holes. Thicknesses ranged from 1 to 8
metres and were shown to continue 450 metres down dip. Drill holes
were relatively shallow and broadly spaced. The pegmatites appear
very uniform at the spacing used and occur in volcanic rock flanking
granitic intrusions. Only 4 shallow holes were drilled on the Raleigh
Lake property. Historic data available in the Ontario Government
geological files reflect certain intersections below.
Hole # RL 99-01 0.56 % Li (lithium) over 3.2 metres
Hole # RL 99-04 1.00 % Li over 4.1 metres
Hole # RL 99-05 1.50 % Li over 6.9 metres
Consolidated Abaddon is conducting this autumn exploration program
with the intent to utilize all data gathered (new and historic) to
direct the Company towards a winter 2009 - 2010 comprehensive drill
program.
The Company has approximately $2 million in its treasury and no debt.
David J. Busch, B.A., B.Sc., PGeo., is the qualified person under the
meaning of National Instrument 43-101 and has reviewed the data in
this News Release.
In other news, Consolidated Abaddon announces that, further to its
news release dated September 14, 2009, it has received TSX Venture
Exchange acceptance of its Option Agreement to acquire a 100%
interest in the Raleigh Lake Lithium property and the Selwyn Lake
Rare Earth property.
Pursuant to the terms of the Option Agreement, the Company made the
first issuance of 50,000 common shares and made the first payment of
$5,000 to Mr. Robert Fairservice (the "Optionor").
The Optionor's shares are subject to a four month hold period under
applicable securities laws and imposed by the TSX Venture Exchange
expiring January 29, 2010.
In order to earn a 100% interest in the Raleigh Lake Lithium property
and the Selwyn Lake Rare Earth property, the Company must make
further cash payments of $25,000, issue an additional 100,000 common
shares and incur $250,000 in exploration expenditures over the four
year term of the Agreement.
About Consolidated Abaddon Resources Inc.:
Consolidated Abaddon Resources Inc. is a Canadian exploration company
actively involved with the development of lithium and uranium
properties in northwestern Ontario and in the Athabasca Basin of
northern Saskatchewan.
For further information on Consolidated Abaddon Resources Inc.
(TSX-V: ABN), visit our 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
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF
THIS NEWS RELEASE.
This news release may contain certain "Forward-Looking Statements"
that may involve a number of 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. For a more detailed discussion of
such risks and other factors, refer to the Company's filings with
Canadian Securities regulators available on www.sedar.com .
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.