VAL-D'OR, QC, Sept. 9 /CNW Telbec/ - Abitex Resources Inc. (TSX-V: ABE)
(the "Company"; "ABITEX") is pleased to announce that it has entered into an
option agreement to acquire a 100% interest in a uranium exploration property
located in the Otish Mountains area of Quebec (the "Option"). The Epsilon
property consists of 102 claim cells covering approximately 5,352 hectares and
is located approximately 10 kilometres west of the "L" property that ABITEX
recently optioned from AREVA and SOQUEM.
The Epsilon property contains several historic uranium occurrences which
were discovered and explored in the early 1980's by AREVA predecessor company
SERU Nucléaire Canada Ltée ("SNCL"), including the extensions of the "S"
showing, the original high grade vein-type uranium occurrence discovered in
this area of the Otish region and the A-29 zone located in the southern part
of the property. Over twenty drill holes were completed by SNCL on the
property in the 1980's, results of which point to the similarities of the
geological setting between the Epsilon and "L" properties.
In consideration of the Option, Abitex has agreed to pay the Vendor the
sum of $25,000 in cash, will issue 100,000 common shares of Abitex within
5 days of regulatory approval and will issue an additional 100,000 shares by
August 15, 2009. The Vendor will retain a 2% net smelter return on any mineral
production from the Property (the "Royalty"). ABITEX can purchase up to
one-half (1/2) of the Royalty at a price of $1,000,000. The Option is subject
to regulatory approval.
Abitex Resources Inc. (TSX-V: ABE) is an exploration company based in
Val d'Or, Quebec which has a diverse portfolio of exploration projects in
Eastern Canada, two of which have historical gold and nickel resources. The
Company is in the process of re-focusing its exploration activities towards
uranium through its proposed acquisition of Central Uranium Corporation and an
option to acquire a 50% interest in the "L" uranium deposit which hosts a
historical resource of 5.9 million pounds.
The technical information in this release has been reviewed by Yves
Rougerie. P.Geo., President and CEO of Abitex. Mr Rougerie is a Qualified
Person as defined by National Instrument 43-101.
On behalf of the Board of Directors:
Yves J. Rougerie, President & CEO and Director
The Company's public documents may be accessed at www.sedar.com
For further information on the Company, please visit our website at
www.abitex.ca or email us at email@example.com
The TSX Venture Exchange (TSX-V) does not accept responsibility for the
adequacy or accuracy of this release.
For further information:
For further information: Yves J. Rougerie, (819) 824-6200,