Abitex Resources Inc. announces proposed acquisition of Central Uranium Corporation



    VAL-D'OR and MONTREAL, QC, Sept. 15 /CNW Telbec/ - Abitex Resources Inc.
(TSXV: ABE) ("Abitex" or the "Company") Mr Yves Rougerie, President and CEO of
the Company is very pleased to announce that, further to its press release
dated April 9, 2008, it has entered into a share exchange agreement with
Central Uranium Corporation ("Central") pursuant to which Abitex will acquire
(the "Acquisition") all of the issued and outstanding common shares of Central
(the "Central Shares") in exchange for common shares of Abitex ("Abitex
Shares") on a "one for one" basis.
    Under the terms of the Acquisition, shareholders of Central will receive
one Abitex Share in exchange for each Central Share held. A total of
13,366,774 Abitex Shares will be issued to Central shareholders in
consideration for their Central Shares, for a total deemed purchase price of
$5,346,710 based on the current trading price of $0.40 of Abitex Shares. In
addition to the Central Shares, 5,585,500 Central purchase warrants are
currently outstanding and will be exchanged for Abitex warrants on a "one for
one" basis (the "Abitex Warrants"). Each Abitex Warrant will be convertible
into one Abitex Share for a period ranging from 12 to 24 months from the date
of Acquisition, at prices ranging from $0.48 to $1.00 per Abitex Share.
    Closing of the Acquisition was subject to completion of a minimum
$5,000,000 concurrent financing, satisfied by completion of private placements
for aggregate gross proceeds of $5,196,600 which consisted of a brokered
private placement of 3,036,000 Subscription Receipts issued at
$0.60("FT Subscription Receipts") for gross proceeds of $1,821,600, and a
non-brokered private placement of 6,136,364 Subscription Receipts issued at
$0.55 ("Subscription Receipts") for gross proceeds of $3,375,000. Upon closing
of the acquisition of Central, the FT Subscription Receipts and Subscription
Receipts will be automatically converted, without additional consideration,
into flow-through units ("FT Unit") and units ("Unit") of Abitex,
respectively. Each FT Unit will consist of one flow-through common share and
one-half common share purchase warrant. Each Unit will consist of one common
share and one common share purchase warrant. Each whole share purchase warrant
entitles its holder to subscribe to one non flow-through common share of the
Company for $0.80 for a period of 18 months following closing of the
financing. Additional private placements are expected to close prior to or
concurrently with the closing of the Acquisition. As well, an unrelated
private placement in the amount of $1,500,000 was completed concurrently with
and on the same terms as the above placements (as previously disclosed in a
press release issued on August 1, 2008). The Acquisition is conditional upon
regulatory approval, including approval by the TSX Venture Exchange.

    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. The Company is in the process of re-focusing its exploration
and development activities towards uranium through its proposed acquisition of
Central Uranium Corporation and its uranium exploration assets, an option to
acquire a 50% interest in the "L" deposit in the Otish Mountains region which
hosts a significant historical uranium resource and an option to acquire the
nearby Epsilon uranium property. Definition drilling of the "L" deposit is
underway at this time. Central's uranium comprise over 2,258 km2 of ground in
three main project areas (Kangiq, South Minto and South Bienville) all located
in northern Quebec. All three properties were optioned from Azimut Exploration
Inc. ("Azimut"). Pursuant to the agreements with Azimut, Central can acquire a
50% interest in these properties over a five year period in return for cash
payments, share issuances of CUC and minimum exploration expenditures of
$12.7M on the properties.

    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 TSX Venture Exchange (TSX-V) does not accept responsibility for the
    adequacy or accuracy of this release.
    %SEDAR: 00003760EF




For further information:

For further information: Yves J. Rougerie, (819) 824-6200,
yrougerie@abitex.ca; The Company's public documents may be accessed at
www.sedar.com; www.abitex.ca; info@abitex.ca


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