ABM Resources NL (ASX:ABU) Announce Spectacular High Grade Visible Gold from Drilling at Old Pirate Northern Extensions

Perth, Aug 8, 2011 AEST (ABN Newswire) - ABM Resources NL (ASX:ABU) is pleased to announce that reverse circulation (RC) drilling at the northern extensions of the Old Pirate Gold Prospect located on the Company's Twin Bonanza Gold Project has intersected widespread quartz veins including one sample with very high grade visible gold.

Darren Holden, Managing Director said, "The gold observed in the latest round of drilling at Old Pirate is visually the most impressive gold we have seen to date from drilling on the project. The presence of ultrahigh-grade visible gold at Old Pirate is exciting as it (1) reinforces that Old Pirate is an unusually high-grade coarse gold system, (2) extends the gold bearing veins to the north beyond areas of previous drill results, and (3) at a down-hole depth of 231m, is one of the deepest intersections of mineralisation to date on this project. We eagerly look forward to announcing the results from this drilling as well as the extensional drilling at the Company's 1.67Moz Buccaneer Deposit located some 1.8km to the north west of Old Pirate. In addition, there are pending assay results from a considerable amount of drilling from other targets at the broader Twin Bonanza Gold Camp, as well as from the Kroda Gold Project. "

Northern Extensions of Old Pirate

Deep reverse circulation drilling at Old Pirate is currently testing the northern extensions of the ore-system identified in 2010. Reverse circulation drill hole OPRC100021 intersected several zones of intense quartz veins in intercalated sandstones and shales, as well as a diorite intrusive body.

At a depth of 231 to 232 metres very high grade visible gold was intersected. Two split samples have been consigned to the laboratory and are pending assay for this section, along with all the remaining samples from the hole. ABM Resources is currently completing an eight-hole drilling program at the Old Pirate northern extensions.

Hole OPRC100021 is located approximately 150 metre farther north of OPRC100005 which in 2010 intersected 5 metres averaging 274g/t gold (refer to release 27/07/2010 for further details). In addition, a surface rock-chip sample on the recently drilled section recorded 95.5g/t gold. The Old Pirate Prospect is noted for its coarse grained gold. This gold is distributed throughout a series of quartz veins ranging from centimetres to several metres wide and is defined by drilling and surface mapping over an area of 600 metres by 250 metres. Overall the Old Pirate Prospect sits within a 3 kilometre long regolith geochemistry anomaly. ABM is testing various parts of the 3 kilometre Old Pirate trend this year.

Update on Exploration and on-going Results

Drilling is on-going at the Twin Bonanza Gold Camp Project with approximately 8000 metres of drilling pending assay. This drilling covers Buccaneer extensions, Caribbean Zone, Empress Zone, Old Pirate and several other extensional target zones. Further results are expected shortly. In addition, the bulk trenching program at Old Pirate has also commenced with steady progress and due to competing requirements for earth moving equipment this program will be carried out in various stages over the next two months. However, the initial stage of this program has also revealed visible gold in outcropping veins in the central area of the Old Pirate prospect.

In addition a total of 14 holes have been completed at the Kroda Gold Project located near Barrow Creek, in the Northern Territory with assays pending. Within the next two weeks a 6000 to 8000 metre deep drilling program is expected to commence at five of the Lake Mackay copper-gold targets.

About the Twin Bonanza Gold Camp

The Twin Bonanza Gold Camp is centred approximately 22 kilometres south of the Tanami Road and 14 kilometres east of the Western Australia - Northern Territory border. The Project spans the highly prospective "Trans Tanami Structure" an inferred regional / tectonic geological feature which hosts numerous gold deposits including Newmont's multi-million ounce Callie Gold Mine. In 2010 ABM focused its effort at Twin Bonanza on the Old Pirate Prospect - a 3 kilometre anomaly with multiple high-grade zones in quartz veins hosted in sedimentary rocks and the Buccaneer Porphyry Gold Deposit - an intrusive related bulk tonnage gold deposit where the Company reported a 1.67Moz gold maiden resource in February 2011.

For the remainder of 2011 ABM is focusing its effort on Buccaneer extensional targets, Old Pirate (trenching and drilling) and is testing up to 15 of the other targets in the wider Twin Bonanza Gold Camp.

For the complete ABM Resources announcement including figures and tables, please refer to the following link:
http://media.abnnewswire.net/media/en/docs/68888-ASX-ABU-552442.pdf

Contact

Darren Holden Managing Director ABM Resources NL Tel: +61-8-9423-9777