Aben Resources Operator Eagle Plain’s Suspends Drilling Program at the Chico Gold Project, Saskatchewan
VANCOUVER, British Columbia, March 23, 2018 (GLOBE NEWSWIRE) -- Aben Resources Ltd. (TSX-V:ABN) (OTCBB:ABNAF) (Frankfurt:E2L2) (“the Company” or “Aben”) announces the suspension of the planned and permitted Chico drill program in Saskatchewan as a result of a request by the citizens of the community of Pelican Narrows and members of the Peter Ballantyne Cree Nation (“PBCN”). Details of the intended program were previously announced in a News Release dated March 1st, 2018.
Eagle Plains Resources Ltd. (TSX-V:EPL), as optionor and project operator, informed Aben of this request after a March 21, 2018 community meeting was convened in Pelican Narrows, attended by local stakeholders and Eagle Plains management. Following the meeting a decision was made by Aben and Eagle Plains to suspend the program. Aben may revisit plans to explore the property in the future, following meaningful consultation with the community and PBCN members. Government permits to undertake the proposed drilling program were issued on Feb. 28, 2018 by the Saskatchewan Ministry of Energy.
Aben holds the exclusive right to earn an undivided 80-per-cent interest in the property by completing $3.5-million in exploration expenditures, issuing 2.5 million shares and making $150,000 in cash payments to Eagle Plains by 2020. Aben recently made a cash payment of $25,000 and issued 250,000 common shares to Eagle Plains, pursuant to the terms of the current option agreement.
Aben Resources looks forward to the upcoming exploration season at the Forrest Kerr Gold Project in B.C.’s Golden Triangle after a successful drilling program there last year.
About Aben Resources:
Aben Resources is a Canadian gold exploration company developing gold-focused projects in British Columbia, Saskatchewan and the Yukon Territory. Aben is a well-funded junior exploration company with approximately 62.7 million shares issued and outstanding. For further information on Aben Resources Ltd. (TSX-V:ABN), visit our Company’s web site at: www.abenresources.com.
“Jim Pettit”
______________________
JAMES G. PETTIT
President & CEO
For further information contact myself or:
Don Myers
Aben Resources Ltd.
Director, Investor Relations
Telephone: 604-639-3851
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@abenresources.com
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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.
