FWIW Lance did this a lot, even in matches that didn't go to a draw.."five down, 55 to wrestler" and whatnot. More a standard of his announcing style than trying to give away the draw aspect of it.
I always hated matches that counted down the minutes, personally. It provides for the odd surprise (8/8/82 Martel vs. Brunzell saw Martel score a pin at 29:57 of a 30:00 match, for example, right in the middle of the final five second countdown), but mostly it voids the match of suspense that someone will actually win the thing. Bockwinkel vs. hennig from 1986 was really, really hurt by this, IMO. Blears and Trongard pretty much called the draw way before the halfway point in the way they discussed the match.
The WWF title match between Backlund and Valentine from 1979 that went 60 minutes didn't do this, as I remember, and it made when the bell did ring for the draw that much better.