Abbastar Resources Corp. ("Abbastar" or the "Company") (TSX VENTURE:ABA) is
pleased to provide an update on the Talbot Lake gold project (the "Project")
located in northern Ontario. Abbastar has the right to earn a 100% interest in
the Project from Denison Mines Inc., subject to a 2% NSR, upon expenditures of
$7,000,000 over 8 years.


Since the New Year the Company has been very active choosing the appropriate
contractors and organizing related logistics to carry out an aggressive 5000
metre drill program at Talbot Lake. Management has proposed a first phase
program and budget which envisions a start date within the next 2-3 weeks and
continuing for the next 3 months.


In conjunction with the drill program planning, Abbastar has also initiated
communication with Eabametoong First Nation. The Company recognizes the
importance of a mutually beneficial, co-operative and productive relationship on
the traditional lands of the First Nation people. We also realize that mineral
exploration must contribute to the benefit of all stakeholders involved.
Abbastar looks forward to working cooperatively with the Eabametoong First
Nation, other First Nations and local communities of the area on our Talbot Lake
GOLD Project. The Company is focused and committed to Northwestern Ontario and
has always accepted responsibility for strong community relations. Based on
principals of trust, good faith and mutual respect, we look forward to building
a strong relationship to realize the benefits and opportunities from the mineral
exploration industry.


"The Company is extremely excited to get started on our first phase drill
program at the high grade Talbot Lake gold deposit," commented John B. Good,
President and CEO. "Given the strong market demand for gold, this project has
become a very important and valuable asset in the growth of Abbastar."


The Talbot Lake gold project hosts the "Main Zone" gold deposit which was
discovered by Placer Dome in 1985 and acquired by Denison Mines in 1998. It
consists of an East-West striking and vertically dipping quartz vein containing
visible gold, pyrite, chalcopyrite and sphalerite. Channel sampling by Denison
yielded a weighted average grade of 13.8 g/t Au over a width of 3.3m. One
channel over a width of 1.8m yielded a spectacular value of 120.0 g/t Au. The
gold deposit extends for a depth of approximately 200m and remains open. The
following are some significant drill hole intersections by Placer Dome from the
"Main Zone"; 16.4 g/t Au over 7.6m, 37.2 g/t Au over 2.5m, 26.9 g/t Au over
2.9m, 7.5 g/t Au over 7.5m. (source: Resident Geologist, Ministry of Northern
Development and Mines, Thunder Bay).


Exploration on the Talbot Lake gold Project is carried out under the supervision
of Aubrey Eveleigh, P.Geo., qualified person under NI 43-101. Mr. Eveleigh has
reviewed and approved this news release. The historical assays have not been
verified and as such should not be relied upon. Abbastar plans to immediately
complete an NI 43-101 Technical Report with respect to the Project.


On behalf of the Board,

John B. Good, President & CEO
Abasca Resources (TSXV:ABA)
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