Original News Release
Aben signs option deal to sell Forrest Kerr project
Mr. Riley Trimble reports
ABEN GOLD SIGNS OPTION AGREEMENT WITH KINGFISHER METALS FOR FORREST KERR PROJECT IN THE GOLDEN TRIANGLE
Aben Gold Corp. has entered into an option agreement with Kingfisher Metals Corp. which provides Kingfisher a three-year option to acquire a 100-per-cent interest in the Forrest Kerr project located in the Golden Triangle of British Columbia, Canada. The property contains 50 mineral claims, comprising approximately 20,197 hectares.
The agreement provides Kingfisher an opportunity to earn 100-per-cent interest in the claims over a three-year period by fulfilling combined cash and share issuance commitments of $2.7-million.
All shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws. No finders' fees or commissions are owing by Aben in connection with entering into the agreement. Completion of the transactions contemplated by the agreement, and the issuance of the shares, remains subject to the approval of the TSX Venture Exchange.
Kingfisher will be the operator of the project during the option period.
President and chief executive officer Riley Trimble states: "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."
About Kingfisher Metals Corp.
Kingfisher Metals is a Canadian-based exploration company focused on copper-gold exploration in the Golden Triangle, British Columbia. Through outright purchases and option earn in agreements (Orogen Royalties, Golden Ridge Resources and Aben Gold) the company has quickly consolidated one of the largest land positions in the Golden Triangle region at with the 933-square-kilometre HWY 37 project and 202 square km Forrest Kerr project. Kingfisher also owns (100 per cent) two district-scale orogenic gold projects in British Columbia that total 641 square km.
Qualified person
Cornell McDowell, PGeo, vice-president of exploration for Aben Gold, has reviewed and approved the technical aspects of this news release and is the qualified person as defined by National Instrument 43-101.
About Aben Gold Corp.
Aben Gold is a Canadian gold exploration company with exploration projects in the Yukon Territory and British Columbia. The company's flagship, the 7,400-hectare, 100-per-cent-owned Justin gold project is located in the southeast Yukon in the Tintina gold belt adjacent to Seabridge Gold's 3 Aces project.
The company's goal is to increase shareholder value through new discoveries and developing exploration projects in geopolitically favourable jurisdictions.
The company has 23.2 million shares outstanding.
We seek Safe Harbor.
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