Aben completes airborne magnetic survey at Forrest Kerr

Jun 7, 2019

2019-06-06 10:11 ET – News Release

Mr. Jim Pettit reports

ABEN RESOURCES ANNOUNCES THE COMPLETION OF AN AIRBORNE MAGNETIC SURVEY AT THE FORREST KERR GOLD PROJECT IN BC’S GOLDEN TRIANGLE REGION

Further to its news release on May 23, 2019, Aben Resources Ltd. has completed a 173-line-kilometre airborne magnetic survey that covered the entire Boundary zone, located in the central portion of the Forrest Kerr property. The Boundary Zone has been the main focus of exploration by Aben Resources since 2016. The 2 km by 5 km survey encompassed a large package of gold-bearing rocks from the Hazelton Group, a lithology that hosts several polymetallic mineral deposits in the region. It is expected that the airborne magnetic survey will effectively delineate subsurface geologic structures that are intimately associated to the high-grade gold mineralization previously discovered at the Boundary Zone. Preliminary results from the survey have been received with final deliverables expected well in advance of the onset of drilling in late June.

JUSTIN PROJECT

Aben would also like to announce that field crews have now opened up the camp at the 100% owned 7,400-hectare Justin Gold Project in the Yukon in anticipation of the arrival of the Diamond and Rotary Air Blast (RAB) drills in the upcoming days. The 2019 exploration program at Justin will entail 1350 meters of diamond drilling and 600 meters of Rotary Air Blast drilling (“RAB”), along with prospect generating field work. This program should take 3-4 weeks to complete which will coincide with the commencement of drilling at the Forrest Kerr Project.

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.

FLOW-THROUGH FINANCING

Further, the Company is pleased to announce it has closed a non-brokered private placement financing (the “Private Placement”) for total gross proceeds of $1,103,200.08.

The Company has allotted and issued 4,596,667 flow-through shares at a price of $0.24 per flow-through share.

For their efforts in finding certain placees, the Company has paid finder’s fees totalling $85,000 and issued an aggregate 354,167 finder’s warrants (the “Finders Warrants”) to arm’s-length parties. Each Finders Warrant is exercisable into one common share for a period of up to twenty-four months at a price of $0.24.

The Company intends to use the proceeds from the Private Placement towards exploring its Forrest Kerr Project, British Columbia. The Private Placement is subject to final TSX Venture Exchange approval and all securities issued will be subject to a hold period expiring October 6, 2019.

About Aben Resources:

Aben Resources is a Canadian gold exploration company developing gold-focused projects in British Columbia’s Golden Triangle region and the Yukon Territory. Aben is a well-funded junior exploration company with approximately 111.7 million shares issued and outstanding.

We seek Safe Harbor.

https://www.abenresources.com/