Abitex signs option and joint venture agreement with AREVA and SOQUEM for "L" property and commences drill program



    VAL-D'OR, QC, Sept. 8 /CNW Telbec/ - Abitex Resources Inc. (TSX-V: ABE)
(the "Company"; "ABITEX") is pleased to announce the signing of an Option and
Joint Venture Agreement with AREVA Resources Canada ("AREVA") and SOQUEM INC.
("SOQUEM"). This Agreement follows a previously announced Letter of Agreement
and specifies the terms by which AREVA and SOQUEM grant ABITEX an option to
acquire a 50% interest in the "L" uranium property located in Quebec,
including the issuance of up to 2,800,000 common shares of ABITEX to both
AREVA and SOQUEM, minimum investments of CA$20,000,000 on the "L" property and
the completion of a prefeasibility study no later than December 31, 2011 (ref.
June 10, 2008 Press Release).
    The "L" property is located in the Otish Mountains region, approximately
350 km north-east of Chibougamau, Quebec. The "L" deposit was discovered by
AREVA (then SERU Nucléaire Canada Ltée) on the property in 1981. The main
lense of the "L" deposit is located less than 100 metres below surface, is
sub-horizontal and extends for over 600 metres in length by tens of metres in
height and width. This lense was systematically drilled by SERU Nucléaire
Canada Ltée at 50 metre spacing in 1982 and 1983 and a uranium historical
resource estimate based on 46 holes totalling 5,263 metres gave the following
results:

    
    -------------------------------------------------------------------------
                                                       Conversion
                     SERU (AREVA) 1983       (eU3O8=1,1792 (*) eU)
    -------------------------------------------------------------------------
                   Tonnes        Grade                    Grade      Pounds
    Historical    eU metal    % eU metal     Tonnes      % eU3O8      eU3O8
     Resource   -------------------------------------------------------------
                    2 289        0,595      385 000        0,70    5 938 000
    -------------------------------------------------------------------------
    eU = equivalent Uranium (ST-22 probe readings converted to
    equivalent uranium tenors)
    

    All resource estimates quoted herein are based on prior data and reports
obtained and prepared by previous operators. The Company has not completed the
work necessary to verify the classification of the mineral resource estimates.
The Company is not treating the mineral resource estimates as NI 43-101
defined resources, verified by a qualified person. Accordingly, the historical
estimates should not be relied upon. The Agreement is subject to regulatory
approval.
    ABITEX has now started a definition drilling program on the property.
Since signing the Letter of Agreement in June, 2008, the Company has built a
20 man camp and mobilized two diamond drills and other mobile equipment, fuel,
materials and supplies. Drilling started during the last week of August. A
15,000 metre drill program is planned in the first phase in order to define
the deposit on 25 metre spacing and will lead to a new resource estimate
conformable with modern estimation methods and reporting standards. Drilling
of other priority targets in the area peripheral to the deposit will follow.
Various other field work and studies will also be initiated this year in
advance of permit applications for planned future advanced exploration work.

    About AREVA

    AREVA Canada Resources is a subsidiary of the AREVA group, a world leader
in the exploration, production and transformation of uranium. AREVA is present
in 43 countries and employs 71 000 people, including its subsidiary AREVA
QUEBEC located in Joliette.

    About SOQUEM

    SOQUEM is a wholly owned subsidiary of Société générale de financement du
Québec ("SGF"). SGF is an industrial development capital company whose mission
is to realize economic development projects, notably in the industrial sector,
in collaboration with its partners and in conformity with the economic
development policies of the government of Quebec.

    About ABITEX

    Abitex Resources Inc. 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
almost 6M pounds. Shares of the Company are traded on the Canadian Venture
Exchange (TSX-V) under the symbol ABE.

    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

    -----------------------------------------------------------------------
    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, info@abitex.ca, www.abitex.ca


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