Aben Resources Amends Private Placement
Suite 1610 – 777 Dunsmuir Street, Vancouver, BC, V7Y 1K4, CANADA
www.abenresources.com
TSX-V Trading Symbol: ABN
Email: [email protected]
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
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UNITED STATES
NEWS RELEASE
July 14th, 2022
Aben Resources Amends Private Placement
Vancouver, BC -- Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2)
(“Aben” or “the Company”) announces that, further to its news release dated July 11, 2022, it has
increased the unit portion of the non-brokered private placement to up to 7,000,000 units of the
Company (the “Units”) at a price of CAD $0.035 per Unit.
Each Unit will be comprised of one common share and one transferable warrant, entitling the
holder to purchase one additional common share for a period of two (2) years at a price of CAD
$0.05 per share.
The Company intends to use the proceeds from this private placement for exploration and for
general working capital purposes. The private placement is subject to TSX Venture Exchange
approval, and all securities are subject to a four -month-and-one-day hold period. Finder ’s fees
may be payable in connection with the private placement, all in accordance with the policies of
the TSX Venture Exchange
The Company will not be proceeding on the flow -through portion of the private placement, as
previously announced.
About Slocan Graphite Project:
Aben holds the exclusive right to earn a 100% interest, less 2% Net Production Royalty (“NPR”)
in the road-accessible Slocan Graphite Project located 34km northwest of Castlegar, British
Columbia. The 2,826 hectare Slocan Graphite Property hosts several flake graphite -bearing
outcrops (high values of 3.36 and 4.43 % organic Carbon) at the Tedesco Zone, whi ch is
coincident with a strong conductive anomaly identified in 2010 that is interpreted to extend up to
2.0km from the known surficial occurrences.
The Project benefits from excellent infrastructure including forestry road access to the property,
high-voltage transmission line within 1.2 km of the property boundaries and an existing graphite
processing plant and facilities within 1.5 km west of the property (owned by Eagle Graphite
Corporation, one of only two natural flake graphite production facilities in North America).
Initial field work has begun on the Slocan Graphite Project. Field reconnaissance, mapping, rock
sampling, and evaluation of prospective drill sites for a potential fall drill program are the focus of
this phase of exploration. Aben has sourced a drill contractor and the requisite personnel to
facilitate drill-testing of the Slocan Graphite Property pending successful receipt of their Multi Year
Area Based exploration permit currently under review by the provincial government.
The Company recently announced that it has added to the Slocan Graphite land package by
staking a new 439.4 hectare claim along the northeastern boundary of the property. This action
was taken after initial evaluation of the Property by Aben ge ologists revealed excellent potential
for an extension of the mineralized trend in that direction. Aben will continue to systematically
explore the Slocan Graphite Property with the aim to unlock the full mineralized potential
contained within the current tenure.
About Graphite:
Natural flake graphite is the fastest-growing product type and will continue to lead with a healthy
growth rate of 9.5% in terms of value between 2021 and 2025.
In value and volume, batteries to exhibit the fastest-growth of 17.9% between 2021 and 2025. An
average HEV contains up to 10 kgs of graphite, where in EVs it is up to 70 kgs.
Currently, synthetic graphite is the preferred material for battery anode materials. However, in the
past few years, a significant shift towards natural flake graphite has been observed due to its cost-
competitiveness and performance.
Graphite is the most preferred battery anode material for rechargeable batteries and the battery
segment is anticipated to create an incremental opportunity worth US$4.6 Bn between 2020 and
2025.
In 2019, Asia Pacific was the largest consumer of graphite and is expected to grow 9.1% in terms
of value between 2021 and 2025.
China graphite production is anticipated to consolidate owing to environmental issues. New
companies are entering into the graphite space, especially in the processing of natural flake
graphite. Graphite is considered as a material of green energy and technology.
https://abenresources.com/projects/slocan/about-graphite/
About Aben Resources:
Aben Resources is a diversified Canadian gold and graphite exploration company with exploration
projects in British Columbia, Ontario, and the Yukon Territory.
For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s website at
www.abenresources.com.
ABEN RESOURCES LTD.
“Jim Pettit”
______________________
JAMES G. PETTIT
President & CEO
For further information contact:
Aben Resources 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 forward -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 materially 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.