Absolut Resources Corp. (ABS) is pleased to announce that the company has received drilling results from the 10 more holes of its phase two reverse circulation drill program completed on the Pico Machay, High Sulphidation Gold Project in Peru.

The latest 10 holes were wide-spaced and drilled to the south and east of the discovery zone covering an area of 200 by 800m. Seven of the ten holes intersected significant widths of mineralisation from near surface.

• RC 110 ended in plus 1 g/t gold grade material and will need to be revisited in the next round of drilling.

• RC 116 (the most easterly hole) intersected 6 meters at 1.76ppm Au reflecting the fact that the mineralisation is open to the northeast. Subsequent mapping has located another dacite dome 600m to the northeast and sampling of the mineralisation associated with the dome is underway.

• RC 119 (the most southerly hole) located down dip and southeast of the discovery zone returned intersections of 12m @ 2.60 ppm Au and 24m @ 1.01 ppm Au indicating that the system is still open to the south.

Detailed mapping has begun to reveal that the strongest gold mineralisation is directly adjacent to the dacite dome located to the north of the present concentration of drill holes. New zones of silicification located directly to the north and northwest of the dome will be high priority targets in the next round of drilling which is slated to commence in early 2005.

To date 27 holes have been drilled at the Pico Machay property (including the previous 8 drilled by Newcrest) Using a 0.5 g/t Au cut-off and allowing for 1.5m of internal dilution the average grade of intersections to date is 1.22 g/t Au.

Detailed Geology of Main Zone		Drilling Intervals at .5ppm

Summary drill results are as follows:

As a reference, the Newmont / Buenaventura world-class Yanacocha high sulphidation gold mine has an overall grade of 0.96 g/t Au and Barrick's Alto Chicama deposit grades 1.39 g/t Au with cut-off grades of 0.35 g/t Au.

For a drill hole location map and a complete set of assay results click on the thumb-nails below.

The second phase 3,040m drill program consisting of 19 Reverse Circulation drill holes has been completed and assays are pending for the remaining 6 holes.

Absolut’s 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 has implemented a quality control program to ensure best practice in chemical sampling and analysis of surface and reverse circulation drilling samples.

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 and the company’s consultants Ironbark Geoservices SRL is providing technical management to the project. Under the guidelines of the 43-101 National Instrument the required qualified person for the Pico Machay Gold Project is Mr. Dan Noone who is a member of the Australian Institute of Geoscientists.

This press release contains forward looking statements.

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