Aben Resources Options Hit Property, Yukon Territory
October 04 2022 - 8:00AM
Aben Resources Ltd.
(TSX-V: ABN) (OTCQB: ABNAF)
(Frankfurt: E2L2)
(“Aben” or “the Company”) is pleased to announce that the Company
has entered into an option agreement (the
“
Agreement”) with Rackla Metals Inc. (“Rackla”)
whereby the Company has granted Rackla the option to acquire a 100%
interest in the Hit Property, which consists of 24 mineral claims,
located in the Yukon Territory, Canada (the
“
Property”).
Under the terms of the Agreement, Rackla may
acquire a 100% interest in the Property by completing the
following:
(a) paying CAD$25,000 cash to the Company within
three (3) business days following the closing date; and
(b) within twelve (12) months following the
closing date:
(i) paying CAD$25,000 cash to the
Company,
(ii) issuing 250,000 common shares in the
capital of Rackla to the Company, and
(iii) incurring a total of CAD$100,000 in
Qualified Expenditures on the Property.
The Company shall retain a NSR of one-half
percent (0.5%) on the Property. Rackla will assume the Company’s
obligation to pay a 2.0% net smelter returns royalty (the “Existing
Royalty”) to Sandstorm Gold Ltd. pursuant to the Net Smelter
Returns Royalty Agreement between Aben and Sandstorm Gold Ltd.
dated October 17, 2019.
About Aben Resources:
Aben Resources is a well-funded Canadian gold
and graphite exploration company with exploration projects in
British Columbia, Ontario, and the Yukon Territory.
For further information on Aben Resources Ltd.
(TSX-V: ABN), visit our Company’s web site at
www.abenresources.com.
ABEN RESOURCES LTD.
“Jim Pettit”______________________JAMES G.
PETTITPresident & CEO
For further information contact:Riley Trimble, Corporate
CommunicationsAben Resources Ltd.Telephone: 604-416-2978Toll Free:
800-567-8181Facsimile: 604-687-3119Email:
info@abenresources.com
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
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