VANCOUVER, British Columbia, May 11, 2016 (GLOBE NEWSWIRE) -- Aben Resources Ltd. (TSX-V: ABN) (OTCBB: ABNAF) (Frankfurt: E2L2) (the “Company”) is pleased to announce that the Company has acquired, through staking, 3906 hectares of highly prospective land in the Golden Triangle region of North West British Columbia.
Aben’s Iskut River Project, BC location map:
The newly acquired Iskut River claims are located near the end of the Altagas Mclymont road which extends off the Eskay Creek Mine road. The property is approximately half way between the Eskay Creek Mine and the Snip Mine (15 kilometers either way). The Company views this region as being one of the premier regions in the world for hosting high-grade gold discoveries like Eskay Creek, Snip, and Brucejack. By acquiring these claims Aben now has a foothold in the region and fully intends to move forward with plans to explore.
The Golden Triangle in British Columbia hosts world class metal deposits including the Eskay Creek and Snip past producing high-grade gold mines (Barrick), the newly built Red Chris copper-gold mine (Imperial Metals), the Brucejack high-grade gold mine now under construction (Pretivm) and the KSM (Seabridge), Galore Creek (Teck-NovaGold), and Schaft Creek (Teck) porphyry copper-gold projects.
The Board of Directors also wish to announce a non-brokered private placement of up to 5,000,000 Units at a price of $0.05 per Unit. Each Unit will consist of one Share and One Share Purchase Warrant entitling the holder to purchase an additional common share at a price of $0.10 for a period of one year. A finder’s fee in the amount of 7% cash and 7% warrants may be paid in connection with part of this private placement offering.
The Company intends to utilize the proceeds from the private placement for exploration on its newly acquired Iskut River, BC property and for general working capital purposes.
About Aben Resources:
Aben Resources is a Canadian gold exploration company developing projects in British Columbia, the Yukon and North West Territories.
For further information on Aben Resources Ltd. (TSX-V:ABN), visit our Company’s web site at www.abenresources.com.
ABEN RESOURCES LTD.
JAMES G. PETTIT
For further information contact myself or:
Aben Resources Ltd.
Toll Free: 800-567-8181
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
Source:Aben Resources Ltd