Abitex Resources Inc. announces acquisition of Central Uranium Corporation

    VAL D'OR and MONTREAL, QC, Sept. 16 /CNW Telbec/ - Abitex Resources Inc.
(TSXV: ABE) ("Abitex" or the "Company") is very pleased to announce that it
has now completed the acquisition of Central Uranium Corporation ("Central")
as per the terms of a share exchange agreement dated September 12, 2008, the
whole subject to final regulatory approval. A total of 13,366,774 Abitex
Shares were issued to Central shareholders in consideration for their Central
Shares. In addition, 5,585,500 Central purchase warrants were exchanged for
Abitex warrants on a "one for one" basis (the "Abitex Warrants"). Each Abitex
Warrant is 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
concurrent financing which was satisfied by completion of private placements
for aggregate gross proceeds of $5,596,600, including the closing of a
$400,000 brokered private placement of subscription receipts on September 15,
2008. In accordance with the terms of the Subscription Receipt Agreement dated
July 22, 2008, the Company triggered the conversion of its outstanding
subscription receipts into units of the Company, whereby 3,036,000
flow-through subscription receipts issued at $0.60 were converted into
3,036,000 flow-through units (the "FT Units") and 6,863,637 non flow-through
subscription receipts issued at $0.55 were converted into 6,863,637 units (the
"Units"). Each FT Unit consists of one flow-through common share and one-half
common share purchase warrant. Each Unit consists of one common share and one
common share purchase warrant. Each whole warrant entitles its holder to
subscribe to one non flow-through common share of the Company for $0.80 for a
period of 18 months following closing of the financing. The Company raised
nearly CA$ 7.2M in the last few months and is well-positioned to advance its
exploration programs.
    Concurrently with the closing of the Acquisition, Mr. François Ruel was
appointed as a Director of Abitex and was nominated co-chairman of the Board
along with Mr. Yves Rougerie, the current President and CEO of Abitex. Prior
to founding Central, Mr. Ruel was Sr VP Equity Markets for Desjardins
Securities where he was responsible for the institutional divisions and was
also a member of the board. Mr. Rougerie is a geologist with over 25 years of
practical experience including several years in uranium exploration in the
Otish Mountains area of Quebec where he participated in several discoveries.
The Company believes the combination of experience and expertise of Mssrs Ruel
and Rougerie will be instrumental to the projected growth of Abitex.

    Abitex Resources Inc. (TSX-V: ABE) is an exploration company based in Val
d'Or, Quebec. The Company has a growing portfolio of uranium exploration and
development properties which include an option to acquire from AREVA and
SOQUEM a 50% interest in the "L" deposit in the Otish Mountains region which
hosts a significant historical uranium resource and an option to acquire a
100% interest in the nearby Epsilon uranium property. Definition drilling of
the "L" deposit is underway at this time. The uranium properties acquired in
the Central acquisition comprise over 2,258 km2 of ground in three main
project areas (Kangiq, Central Minto and South Bienville) located in northern
Quebec. All three properties are under option from Azimut Exploration Inc.
    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; François Ruel, (514) 242-5952,
francoisruel@rogersblackberry.net; The Company's public documents may be
accessed at www.sedar.com; www.abitex.ca; info@abitex.ca

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