Aben Gold Corp. (TSX-V: ABM) (OTCID: ABNAF) (Frankfurt: ML1) (“Aben” or “the Company”) is pleased to announce that it has entered into an option agreement (the “Agreement”) with Kingfisher Metals Corp. (“Kingfisher” or the “Optionee”) which offers Kingfisher a three-year option to acquire a 100% interest in the Forrest Kerr Project located in the Golden Triangle of Great Britain Columbia, Canada (the “Property”). The Property includes fifty (50) mineral claims, consisting of approximately 20,197 hectares.
The agreement provides Kingfisher with the opportunity to earn 100% interest on the claims over a three-year period by meeting combined cash and equity issuance obligations of CAD $2.7 million.
The Option Agreement:
| Date | Cash payments | Value of shares issued |
| On the Closing Date | $150,000 | $500,000 (1) |
| On or before the date six months after the Closing Date | $150,000 | $500,000 (1) |
| On or before the date twelve months after the Closing Date | $200,000 | $500,000 (1) |
| On or before the date that is 36 months after the Closing Date | $700,000 | N/A |
| TOTAL | $1,200,000 | $1,500,000 |
(1) The Assumed Price will be the greater of a) 5-day VWAP and b) the last closing price of the Optionee Shares as quoted on the TSXV, less the maximum discount allowed under TSXV policy of 25% at the time the Agreement is announced.
All shares are subject to a statutory hold period of four months and one day, in accordance with applicable securities laws. Aben will not owe any finder’s fees or commissions in connection with entering into the Agreement. The completion of the transactions contemplated by the agreement and the issuance of the shares remain subject to the approval of the TSX Venture Exchange.
Kingfisher will be the operator of the project during the option period.
President and CEO Riley Trimble said, “This transaction provides Aben with $2.7 million in cash and stock without further expenditures to Forrest Kerr, sharpens our focus as a pure-play Yukon gold explorer and places the project with an excellent team actively consolidating the Golden Triangle. We can now put 100% of our efforts and capital into our flagship Justin Gold Project in the Yukon.”
About Kingfisher:
Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian-based exploration company focused on copper-gold exploration in the Golden Triangle, British Columbia. Through outright purchases and option income in agreements (Orogen Royalties, Golden Ridge Resources and Aben Gold), the company has quickly consolidated one of the largest land holdings in the Golden Triangle region, with the 933 km2 HWY 37 Project and 202 km2 Forrest Kerr Project. Kingfisher also owns (100%) two district-scale orogenic gold projects in British Columbia, totaling 641 km2.
Qualified Person:
Cornell McDowell, P.Geo., VP Exploration for Aben Gold, has reviewed and approved the technical aspects of this press release and is the Qualified Person as defined by National Instrument 43-101.
About Aben Goud:
Aben Gold Corp. is a Canadian gold exploration company with exploration projects in the Yukon Territory and British Columbia. The company’s flagship, 7,400-acre Justin Gold Project, which is 100% owned, is located in the southeastern 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 favorable jurisdictions.
The company has 23.2 million shares outstanding.
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For more information about Aben Gold Corp. (TSX-V: ABM ), visit our company website at www.abengold.com .
ABEN GOLD CORP.
“Riley Trimble”
____________________________________
Riley Trimble
Chairman & CEO
For more information please contact:
Aben Gold Corp.
Riley Trimble, Chairman and CEO
Phone: 604-639-3852
Fax: 604-687-3119
E-mail: info@abengold.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 press release contains certain statements that may be deemed “forward-looking statements.” All statements in this press release, other than statements of historical fact, that relate to events or developments that the company’s management expects are forward-looking statements, including the receipt of TSX Venture Exchange approval for the agreement. Although management believes that 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 assumes 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. See the company’s public filings at www.sedarplus.ca for more information.
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