Absolut currently has two projects within this belt; Pico Machay and Carisla. In addition there are several recent gold discoveries that include the Rescatada, Liam, and Santa Rosa properties.

The data package includes, among other information, over 17,000 stream sediment and rock samples and over 275 individual property reports. MPDP acquired and utilized the data to identify and evaluate large areas that might contain porphyry copper and skarn targets. Although the primary targets were for copper, nearly all samples were analyzed for gold and silver.

Absolut and MPDP will have exclusive access to the data package for a three year period under the following terms:

- Absolut will pay US$ 50,000 and, subject to TSX Venture Exchange approval of the transaction, issue 100,000 shares of stock to MPDP;

- Absolut will initially have an undivided 100% interest in all prospects acquired within the data area;

- Minera Phelps Dodge Del Peru will have an option to acquire a 70% interest in any acquired copper resource within the data area where there is the presence of a minimum of one million tonnes of contained copper metal, or equivalent, in the measured and indicated classes and one million tonnes of contained copper, or equivalent, in the inferred class. If MPDP elects to exercise its option it will reimburse Absolut 2.1 times its expenditure on the property;

- If Absolut elects to relinquish any interest in projects acquired in the data area, MPDP shall have a "right of first offer";

- At the end of the three year exclusivity period, Absolut will have no obligation to return the data package to MPDP.

According to Dan Noone, President and CEO of Absolut, "we are excited to acquire this large data package from Minera Phelps Dodge del Peru as it will significantly decrease the time required to develop a data base of this size and we can immediately begin to leverage it to explore for gold and silver deposits in highly prospective southern Peru. The agreement is a win - win partnership for Absolut and Minera Phelps Dodge del Peru as they will have an option to any copper discoveries that may occur during our search for precious metals."

This press release contains forward looking statements.

For any questions or comments please contact us directly.