To: loantech who wrote (23202 ) 12/8/2004 9:23:13 AM From: labbe Read Replies (1) | Respond to of 312478 TSX TSX-VEN CDN Any US Canadian Company Press Releases ABS 2004-12-08 (provided courtesy of CCNMatthews .) register to receive future releases by email from CCNMatthews Absolut's Final Phase II Drill Results and Outline of 2005 Program for Pico Machay TORONTO, ONTARIO--(CCNMatthews - Dec. 8, 2004) - Absolut Resources Corp. (ABS) (TSX VENTURE:ABS) is pleased to announce the final five holes of its Phase II drill program at Pico Machay. This drill program consisted of 19 widely-spaced holes over a strike length of 1,500m. The objective was to test the size and grade potential of the first target, located near the centre of a large 5km by 2km high-sulphidation alteration system. Highlights of the final five holes include ABS-125 which intersected 43.5m @ 0.73 g/t Au. ABS-125 is located 500m east of ABS-108 which intersected 106.5m @ 1.87 g/t Au (as previously reported). Summary drill results for the latest holes: /T/ From To Interval Au Hole # (meters) (meters) (meters) (g/t) ABS-120 70.5 78.0 7.5 0.54 ABS-121 111.0 115.5 4.5 1.90 ABS-123 0.0 15.0 15.0 0.46 22.5 39.0 16.5 0.66 64.5 84.0 19.5 0.38 ABS-124 1.5 13.5 12.0 0.68 ABS-125 0.0 3.0 3.0 0.84 7.5 51.0 43.5 0.73 54.0 61.5 7.5 0.54 /T/ As a reference the Newmont / Buenaventura Yanacocha high-sulphidation gold mine has an average grade of 0.96 g/t Au and Barrick's Alto Chicama deposit grades 1.39 g/t Au. President and CEO Dan Noone stated "We are extremely pleased with the results of what was a very ambitious program in 2004. Drilling has discovered a large central zone of gold mineralisation, that clearly justifies an aggressive, expanded Phase III drill program." A 6,000m campaign has been budgeted and is scheduled for early 2005. Drilling will focus on infill between the current widely-spaced holes in order to delineate an initial resource estimate. In parallel, other priority targets developed by ongoing detailed mapping, rock-chip sampling and geophysics will be drill tested. The concession area at Pico Machay has been expanded to 4,500 hectares by the recent staking of an adjoining 800 hectares. Absolut Resources' wholly owned subsidiary, Minera Calipuy SAC has an agreement with Monterrico Metals PLC to earn up to a 75% interest in the Pico Machay gold project. Absolut Resources has over CAD$2 million in the treasury and is well financed to carry out the Phase III program at Pico Machay as well as advancing the Hualatan and Carisla projects to the drill ready stage. Absolut Resources Corp. is a precious metals exploration and development company based in Toronto, Canada. Absolut strongly believes in an international best practices approach, and implements this on all its social and environmental decisions. Absolut has implemented a quality control program to ensure best practice in geochemical sampling and analysis of surface and reverse circulation drilling samples. NOTE: There are two images available on CCNMatthews' website: PICO MACHAY Regional Geology: www2.cdn-news.com PICO MACHAY Detailed Geology: www2.cdn-news.com /T/ Absolut Resources Corp. Exchange Tower 130 King St West, Suite 3680 Box 99 Toronto, Ontario, M5X 1B1 /T/ -30- FOR FURTHER INFORMATION PLEASE CONTACT: Absolut Resources Corp. Dan Noone President & CEO (416) 214-4654 (416) 599-4959 (FAX) info@absolutresources.com www.absolutresources.com This press release contains forward looking statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Please send comments or suggestions to feedback@mplcomm.com © 1996 - 2004 MPL Communications Inc. Legal Notices Privacy Policy