kerr,s Area play
posted on
Nov 18, 2007 03:54PM
Focused on becoming a near-term Gold Producer
Another area play on its way this Guy Hughes is the Golden chalice guy all in time
FOR IMMEDIATE RELEASE TSX-V: ABB
November 16, 2007 ir@abitibi-mining.com
Kerr Addison North Gold Property &
Langlois Uranium Property Acquisitions
Abitibi Mining Corp. (“Abitibi”) is pleased to announce that it has acquired the Langlois Uraniumproperty northwest of the Elliot Lake Uranium camp in Ontario, and a new gold property north of the
historical Kerr Addison Mine in Ontario.
Kerr Addison North Property – Subject to regulatory approval, Abitibi can acquire a 100% interest inthe Kerr Addison North Property, located in Ossian Township, Larder Lake Mining Division,
approximately 6 km north of Virginiatown, Ontario. Consideration for the property consists of $30,000
and 150,000 shares, payable over two years. There is a 2% net smelter return payable, half of which
(1%) may be purchased for $1,000,000.
The property consists of four mining claims totaling 56 units or 2,240 acres located approximately 6
miles north of the world class historical Kerr Addison Mine in Virginiatown. The Kerr Addison mine
produced more than 10 million ounces of gold. The property is accessible via an all weather access
road and a series of logging roads.
Geology of the property consists of Intermediate Volcanic rocks and Mafic Intrusive rocks. Gold
mineralization occurs within quartz veins found via trenching in 1939. No significant work has been
conducted over these showings since that time. A historical copper showing is also located on the
property.
Abitibi plans to complete ground geophysics and prospecting to help outline the size and strike of the
gold bearing quartz veins, prior to trenching and drilling.
Langlois Uranium Property - Subject to regulatory approval, Abitibi can acquire a 100% interest inthe Langlois Uranium Property, located in Langlois Township, Porcupine Mining Division,
approximately 100 km northwest of Elliot Lake, Ontario. Consideration for the property consists of
$45,000 and 250,000 shares, payable over three years. There is a 2% net smelter return payable,
half of which (1%) may be purchased for $1,000,000.
The property consists of five mining claims totaling 60 units or 2,400 acres. The claims are accessible
by road, cover potentially favourable geology for uranium, and are proximal to elevated uranium in
lake sediment samples taken by the Ontario government. Abitibi plans to compile existing data prior
to using prospecting, mapping, geophysics and geochemistry to identify uranium targets for trenching
and drilling.
#711 – 675 West Hastings Street
Vancouver, B.C. V6B 1N2
Telephone: 604-685-2222
Fax: 604-685-3764
About Abitibi
Abitibi Mining Corp. is well positioned to discover and capitalize on world class uranium, gold, silver,
platinum, palladium and diamond deposits. During the past year the Company has been restructured
and has begun to strategically accumulate a large land package in existing mining or mineral districts
such as the Abitibi Greenstone Belt in Ontario. The Company’s assets are entirely within Canada with
a strong focus in Ontario. These properties have existing infrastructure and are often within road
access to metallurgical facilities to process mined ores.
ON BEHALF OF THE BOARD
/s/ “Richard W. Hughes”
Richard W. Hughes, President
For Further Information Contact: The Hughes Exploration Group
Phone: (604) 685-2222
This document contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the
corporation’s control which may cause actual results, performance or achievements of the corporation to be materially different from the
results, performance or expectation implied by these forward looking statements.
The TSX Venture Exchange has not reviewed and does not accep