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Consolidated Abaddon Resources Inc. (TSX-V: ABN) (FWB: E2L) (the "Company") announces that it has issued 50,000 common shares and paid the sum of $10,000 in connection with its Property Option Agreement dated August 31, 2009 with Robert Fairservice.
The Company has been granted an option to earn a 100% interest, subject to a 2% net smelter return royalty, in the Raleigh Lake lithium project located in the Raleigh Township, Kenora Mining Division, Ontario and the Selwyn Lake rare earth property located in the Selwyn and Wawang Lake Townships, Thunder Bay Mining Division (together the "Properties"). Raleigh Lake Lithium project location map, please click here Selwyn Lake Rare Earth Project location map:, please click here The common shares issued are subject to a four month hold period under applicable securities laws, and imposed by the TSX Venture Exchange, expiring December 25, 2010. In order to earn a 100% interest in the Properties, the Company must make further cash payments of $15,000, issue 50,000 common shares and incur a further $200,000 in exploration expenditures over the remaining two-year term of the Agreement. |
