Aben signs option deal to sell Forrest Kerr project

Executive Summary

• Aben Gold Corp. has entered into an option agreement with Kingfisher Metals Corp. granting Kingfisher a three-year option to acquire a 100% interest in the Forrest Kerr project in the Golden Triangle, British Columbia.
• Kingfisher can earn the full interest by fulfilling combined cash and share issuance commitments totaling $2.7 million.
• The transaction allows Aben Gold to divest the Forrest Kerr project, sharpening its focus on its flagship Justin gold project in the Yukon, while receiving $2.7 million in value with no further expenditure required on Forrest Kerr.

Key Details

• Transaction Structure: Option agreement providing Kingfisher Metals Corp. a three-year option to acquire 100% interest in the Forrest Kerr project.
• Asset Details: Forrest Kerr project consists of 50 mineral claims comprising approximately 20,197 hectares in the Golden Triangle of British Columbia, Canada.
• Earn-In Consideration: Kingfisher must fulfill combined cash and share issuance commitments totaling $2.7 million to earn the 100% interest.
• Share Terms: All shares issued as part of the earn-in are subject to a four-month-and-one-day statutory hold period.
• Operational Control: Kingfisher Metals will serve as the operator of the project during the option period.
• Regulatory Status: Completion of the transactions and share issuance is subject to approval by the TSX Venture Exchange.
• Fees: No finders' fees or commissions are owing by Aben Gold in connection with the agreement.
• Strategic Impact: Aben Gold CEO Riley Trimble stated the transaction delivers $2.7 million in cash and shares, allows Aben to focus entirely on its flagship Justin gold project in the Yukon, and places the Forrest Kerr project with a team actively consolidating the Golden Triangle.

Notable Quotes

• "This transaction delivers Aben $2.7-million in cash and shares with no further expenditure on Forrest Kerr, sharpens our focus as a pure Yukon gold explorer, and places the project with an excellent team that's actively consolidating the Golden Triangle. We can now put 100 per cent of our effort and capital behind our flagship Justin gold project in Yukon." — Riley Trimble, President and CEO of Aben Gold Corp.