Abitex is an Ontario based junior exploration company focused on the search for economic mineral deposits in Eastern Canada. Founded in 1996, the Company has explored across Canada and in the Northern Mexico for gold and base metal deposits, but in recent years has focused on the Abitibi Greenstone Belt of Quebec. The Company has two advanced projects, the Jolin Gold and St. Stephen Nickel projects which each hosts historical mineral resources, as well as several promising grass roots base metal projects in Quebec.
The Company recently announced an agreement with Continental Nickel Ltd. (CNI) of Toronto, Ontario by which CNI may acquire up to a 75% interest in the St. Stephen property in New Brunswick in return for cash payments, share issuances and work commitments.
The Company announced on April 9, 2008 the signing of a non-binding letter agreement to acquire all of the outstanding and issued shares of privately owned Central Uranium Corporation of Montreal, Quebec. Central holds options from Azimut Exploration to acquire majority interests in three large properties in Northern Quebec covering over 2,250 km2 which are highly prospective for uranium.
Abitex is looking forward to other acquisitions in uranium exploration as it turns its focus towards this sector of the industry.