Aben Gold Receives Class 1 Quartz Approval to Conduct Exploration at Justin Gold Project

The most recent news release, dated November 5, 2025, states that Aben Gold Corp. has received Class 1 Quartz Approval from the Liard First Nations, Ross River Dena Council, and the Government of Yukon to conduct an exploration field program at its Justin Gold Project. This approval is for a planned summer 2026 field program. The President & CEO, Riley Trimble, expressed gratitude to the First Nations and the Dena Council, and looks forward to working closely with them during the 2026 exploration season. The news release specifies the materiality as "Non-Material - Positive".

This news is a positive administrative step as it confirms the company's ability to proceed with planned exploration activities at the Justin Gold Project. However, it is explicitly noted as "Non-Material - Positive" by the company itself, and the exploration program is planned for "summer 2026," meaning it is not an immediate catalyst.

In the context of the historical news, Aben Gold Corp. (formerly Aben Minerals Ltd.) announced on September 9, 2025, that it was awaiting approvals for its Class 1 Quartz Program to facilitate a planned field program at the Justin Gold Project, targeting late September 2025 for initial activities (grid soil sampling, rock sampling, geological mapping, camp refurbishment). The current approval, granted in November 2025, is for a summer 2026 program, which is a delay compared to the initially targeted late September 2025 timeframe for the initial phase of the field program mentioned in the September 9 news. While an approval is positive, the delay in the actual field program initiation (from late 2025 to summer 2026) suggests that the company's operational timeline has been pushed back.

Financially, the company's cash position as of June 30, 2025, was extremely low at $31,033. The company previously closed a $316,000 private placement in February 2025, intended for exploration expenditures and general working capital. Given the burn rate (loss of $130,346 for the three months ended June 30, 2025, and $419,212 for the nine months ended June 30, 2025), the current cash balance would have been depleted significantly by November 2025. Therefore, while regulatory approval is a necessary step, the company will almost certainly need to raise additional capital to fund the planned summer 2026 field program. Without sufficient funding, the approval is merely theoretical.

The news is routine in that it is an expected outcome following the application for permits. Its "positive" nature is diminished by the delay in the actual work timeline and the company's precarious financial state which suggests further dilution will be necessary to capitalize on this approval.

Aben Gold Corp. (formerly Aben Minerals Ltd.) is a Canadian gold exploration company. The company underwent a name change from "Aben Minerals Ltd." to "Aben Gold Corp." effective May 6, 2025, to better reflect its focus as a Canadian gold exploration company.

Flagship Project: - Justin Gold Project (Yukon Territory): This is the company's 100%-owned flagship project, covering 7,400 hectares in southeastern Yukon within the Tintina Gold Belt. It is adjacent to Seabridge Gold's 3 Aces project. - Historical Exploration: The project has known zones of interest (POW zone, Lost Ace zone) separated by 2 kilometers. - 2011 POW zone drilling: hole JN11009 yielded 1.25 g/t Au over 60.0 meters (including 2.47 g/t Au over 21.0 meters); hole JN11010 yielded 2.52 g/t Au and 29.53 g/t Ag over 12.0 meters. - 2017 bulk sample (between POW and Lost Ace): 3.8 kg sample had 1,135 gold grains, 1,049 of which were pristine, implying close proximity to a lode source. - 2018 Lost Ace trenching: 20.8 g/t Au over 4.4 meters (including 88.2 g/t Au over 1.0 meter). - Recent Work: A 2024 QMAGT airborne geophysical survey identified coincident geophysical and geochemical anomalies in underexplored areas between the POW and Lost Ace zones, suggesting expanded mineralization potential. - Current Status: The company received Class 1 Quartz Approval in November 2025 for a planned summer 2026 field program, which will include grid soil sampling, rock sampling, geological mapping, and camp refurbishment. This is to build upon established mineralization potential and geophysical data to refine targets for future drilling. - Royalty: The Justin Project is subject to a 3% Net Smelter Royalty (NSR) to the optionor, of which Aben Gold has the right to purchase 2% for $2,000,000 prior to commercial production. (Note: A previous news item from May 2025 indicates a renegotiation with Sandstorm Gold Ltd. reducing royalty from 3% to 2% and terminating advance royalty payments, but the Jan 2025 financial statement still mentions 3% NSR to optionor. The latest June 2025 financial statement uses "optionor" not "Sandstorm" for the 3% NSR. This needs clarification, but it seems to be 3% NSR from optionor with buyback right for 2% from the company. However, the May 2025 financials explicitly state "Renegotiated with Sandstorm Gold Ltd., reducing royalty from 3% to 2% and terminating advance royalty payments" for Justin, implying Sandstorm holds some royalty interest, separate from the optionor's interest.)

Other Projects/Royalty Interests: - Forrest Kerr Gold Project (British Columbia): 100% owned, located in the Golden Triangle. Adjacent to Skeena's KSP project and Seabridge Gold's Iskut project. Historical drill intercept FK17-05 showed 1.20 g/t Au, 1.80 g/t Ag, and 0.21% Cu over 122.0 meters. The company stated in Feb 2025 it would review data in light of adjacent developments. This project is subject to multiple NSRs: - Forgold Claims: 2% NSR (1% buy-back for $1M). Royalty buy-back rights assigned to Sandstorm, plus an additional 1% NSR granted to Sandstorm. - RDN Claims: 1.33% NSR. Royalty buy-back rights assigned to Sandstorm, plus an additional 0.5% NSR granted to Sandstorm. - Forrest Claims: 3% NSR (2% buy-back for $2.5M). Royalty buy-back rights assigned to Sandstorm, plus an additional 1% NSR granted to Sandstorm. - Has a $38,000 reclamation deposit on the project. - VF Gold Project (Yukon Territory): 100% interest, subject to a 2% NSR. Royalty buy-back rights assigned to Sandstorm. Investment written down to $Nil in prior fiscal years, but claims remain in good standing. - Hit Property Option (Yukon Territory): Aben entered an option agreement with Rackla Metals Inc. for Rackla to acquire 100% interest, subject to a 2.5% NSR. Aben received 250,000 common shares of Rackla Metals Inc.