Aben Resources Closes Amendment to the Slocan Property Option Agreement
Vancouver, BC, Feb. 06, 2023 (GLOBE NEWSWIRE) -- Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (“Aben” or “the Company”) announces that, further to its news release dated January 23, 2023, it has received the approval of the TSX Venture Exchange on the amendment to the option agreement dated November 9, 2021 (the “Agreement”) with Eagle Plains (the “Optionor”) whereby the Company may acquire a 100% interest in the Slocan Graphite Property in Southern British Columbia (the “Property”).
Under the new terms of the amendment, the Company has been granted an extension on the due date of its first anniversary obligations, being the cash payment, share issuance and exploration expenditures The first anniversary obligations, which were all due by December 31, 2022, are now due as follows:
CAD $25,000 on or before March 31, 2023;
150,000 common shares on or before March 31, 2023; and
CAD $250,000 in exploration expenditures on or before June 30, 2023.
In consideration of the amendment, the Company has issued the Optionor an additional 350,000 common shares. All the other terms and conditions of the Agreement remain unchanged.
About Aben Resources:
Aben Resources is a diversified 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 website at www.abenresources.com.
ABEN RESOURCES LTD.
JAMES G. PETTIT
President & CEO
For further information contact:
Aben Resources Ltd.
Riley Trimble, Corporate Communications
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.