Rackla Metals Exercises Option Agreements on the HIT Project
Vancouver, BC, Oct. 17, 2023 (GLOBE NEWSWIRE) -- Aben Minerals Ltd. (TSX-V: ABM) (OTCQB: ABNAF) (Frankfurt: R26) (“Aben” or “the Company”) announces that Rackla Metals Inc. (“Rackla”) has exercised previously announced exploration option transaction on the HIT Project in the Yukon.
HIT Property Option Agreement
The Company has exercised its option to acquire a 100% interest, subject to a 2.5% NSR royalty, in the HIT property from Aben Resources Ltd. (TSXV-ABN). Pursuant to the HIT Option Agreement dated September 28, 2022, Rackla has completed the following:
I. paid CAD$25,000 cash to Aben upon signing of the agreement,
II. within 12 months of signing:
• paid an additional CAD$25,000 cash to Aben,
• issued 250,000 common shares of Rackla to Aben, and
• incurred in excess of the minimum requirement of $100,000 in exploration expenditures on the HIT property.
The shares issued to Aben are subject to a resale restriction which expires on February 17, 2024.
Aben will be granted a 0.5% net smelter returns royalty interest in the Project.
About Aben Minerals:
Aben Minerals is a Canadian gold exploration company with exploration projects in the Yukon Territory and British Columbia. The Company’s goal is to increase shareholder value through new discoveries and developing exploration projects in geopolitically favourable jurisdictions. The Company has 18.7 million shares outstanding.
For further information on Aben Minerals Ltd. (TSX-V: ABM), visit our Company’s website at www.abenminerals.com.
ABEN MINERALS LTD.
“Riley Trimble”
______________________
Riley Trimble
President & CEO
For further information contact:
Aben Minerals Ltd.
Riley Trimble, President & CEO
Telephone: 604-416-2978
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@abenminerals.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.
