Aben Minerals Announces Approval of Non-Brokered Private Placement Financing
Suite 1610 – 777 Dunsmuir Street, Vancouver, BC, V7Y 1K4, CANADA
www.abenminerals.com
TSX-V Trading Symbol: ABM
Email: [email protected]
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
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UNITED STATES
NEWS RELEASE
May 19, 2023
Aben Minerals Announces Approval of Non-Brokered Private Placement Financing
Vancouver, BC -- Aben Minerals Ltd. (TSX-V: ABM) (OTCQB: ABNAF) (Frankfurt: R26)
(“Aben” or “the Company”) is pleased to announce that, further to its news release issued April
18, 2023 it has received TSX Venture Exchange conditional approval for a non-brokered private
placement financing for total gross proceeds of $ 500,000.00 (the “Private Placement”). The
Company is proposing to issue 5,000,000 units (the “Units”) at a price of CAD $0.10 per Unit.
Each Unit is comprised of one common share and one transferable warrant, entitling the holder
to purchase one additional common share for a period of four (4) years at a price of CAD $0.15
per share. The Company expects to close the financing shortly as the financing has been fully
subscribed for.
In addition, the Company will pay finder's fees of $1,050.00 and issue 10,500 finder's warrants to
an arm's-length party, with each finder’s warrant entitling the holder to purchase one common
share for a period of four (4) years at a price of CAD $0.15.
The Company intends to use the proceeds from this private placement towards exploration
expenditures and general working capital purposes.
The private placement is subject to final TSX Venture Exchange approval, and all securities will
be subject to a four -month-and-one-day hold period from closing. The Company also reported
that insiders of the Company had subscribed for a total of 750,000 units of the offering.
About Aben Minerals Projects:
Justin Gold Project
The 7,400-hectare Justin Gold property is 100% owned by Aben Minerals Ltd and has had 27
diamond and 20 Rotary Air Blast (RAB) drill holes completed since 2011. Drilling has shown that
precious metal mineralization at Justin is part of an Intrusion Related Gold System (IRGS)
featuring multiple mineralization styles including sheeted vein arrays, vein breccias, stockwork
veining, fault-controlled mineralization and skarn-hosted gold horizons. Drilling in 2011 and 2012
at the POW Zone successfully discovered intrus ion-related gold mineralization with intercepts
reported ranging from trace values to highs of 1.19 g/t Au over 60.0m (including 2.47 g/t Au over
21.0m) and 1.49 g/t Au over 46.4m. Additionally, in 2018, trenching at the Lost Ace Zone returned
values ranging from trace to 20.8 g/t gold over 4.4m including 88.2 g/t gold (Au) over 1.0m.
The Justin Project is located in the southeastern portion of the prolific Tombstone Gold Belt, part
of the Tintina Gold Province, host to world class Reduced Intrusion Relat ed Gold deposits and
recent gold discovery by Snowline Gold Corp. The Company will be using some proceeds of the
financing to apply for a new multi year exploration permit to allow for fu rther exploration of the
Justin Project.
Forrest Kerr Gold Project
The Forrest Kerr property is 100% owned by Aben Minerals Ltd and consists of 56 contiguous
mineral claims covering 23,397 hectares in the center of the Golden Triangle of British Columbia,
an area that hosts significant Au-Cu±Mo porphyry deposits, intrusion-related Au±Ag vein deposits
and high-grade Au-Ag volcanogenic massive sulphide deposits. Forrest Kerr boasts a database
comprised of 190 drill holes, 2 ,500 rock and 20,000 soil and silt samples. Highlight drill results
include hole FK18-10 which intersected multiple high grade gold horizons including 38.7 g/t Au
over 10.0m, 3.9 g/t Au over 13.0m, 22.0 g/t Au over 4.0m, and 8.2 g/t Au over 14.0m.
The property hosts 40 polymetallic mineral occurr ences with mineralization styles ranging from
discrete intrusion related Au + Cu +/- Ag veins to breccia, shear and stockwork zones in addition
to areas with massive sulfide potential. The Company has a MX Permit for exploration in good
standing and will entertain third party involvement to move the project forward.
Pringle North Property Gold Project
Aben Minerals Ltd has an option to acquire a 100% interest in the Pringle North Gold Property in
Red Lad Ontario. The Pringle North Property straddles the interpreted northern extension of the
deep-seated geologic structures that host several gold deposits within the Red Lake Gold Camp,
located approximately 55 km to the south. The property consists of 5 contiguous mining claims
covering approximately 1,881 hectares and is host to multiple surface samples that tested at or
above the 95th percentile in an overburden sampling program conducted by Agnico Eagle in
2009. Pringle North hosts a substantial belt of mafic to ultramafic rocks that parallel the Nungesser
Deformation Zond (NDZ) and a full spectrum of structural controls that may provide fluid pathways
and traps for economic gold mineralization.
Slocan Graphite Project
Aben Minerals Ltd has an option to acquire a 100% interest in the road accessible 2,868-hectare
Slocan Graphite Property consists of 13 contiguous mineral claims and hosts several large flake
graphite-bearing outcrops (high values of 3.36 and 4.43 % organic Carbon) at the Tedesco Zone,
which is coincident with a strong conduc tive anomaly identified in 2010 that is interpreted to
extend up to 2.0km from the known surficial occurrences. The Slocan Graphite Project benefits
from excellent infrastructure including a high -voltage transmission line within 1.2 km of the
property boundaries, an extensive network of forestry roads on and around the property, and an
existing graphite processing plant and facilities located 1.5 km west of the property.
Aben Minerals:
Aben Minerals is a diversified Canadian gold and graphite exploration company with exploration
projects in British Columbia, Ontario, and the Yukon Territory. Cornell McDowell, P.Geo., V.P. of
Exploration for Aben Resources, has reviewed and approved the technical aspects of this news
release and is the Qualified Person as defined by National Instrument 43-101.
For further information on Aben Minerals Ltd. (TSX-V: ABM), visit our Company’s web site at
www.abenminerals.com.
ABEN MINERALS LTD.
“Jim Pettit”
______________________
JAMES G. PETTIT
President & CEO
For further information contact:
Aben Minerals Ltd.
Riley Trimble, Corporate Communications
Telephone: 604-416-2978
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [email protected]
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 forwa rd-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 m aterially 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.