Aben Resources to Sell Interest in Mann Lake Property
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 19, 2015) - Aben Resources Ltd. (TSX VENTURE:ABN)(OTCBB:ABNAF)(FRANKFURT:E2L2) (the "Company") announces that it has signed a definitive agreement to sell its 40% interest in its Mann Lake property in Saskatchewan to Skyharbour Resources Ltd. (TSX VENTURE:SYH). For the 40% interest in the property, Skyharbour will issue 1 million common shares to Aben as payment. Aben will retain a 2.5% net smelter royalty (NSR) in the Mann Lake property with Skyharbour having the right to purchase 1.5% of the NSR for $1.5 million.
Aben's and Skyharbour's boards have common directors. The closing of the acquisition by Skyharbour is subject to standard conditions, including regulatory and TSX Venture Exchange approval.
About Aben Resources:
Aben Resources is a Canadian uranium and gold exploration company with projects in Saskatchewan's Athabasca Basin, Yukon, and NWT.
For further information on Aben Resources Ltd. (TSX VENTURE:ABN), visit our Company's web site at www.abenresources.com.
Aben Resources has approx. 4.5 million shares issued and outstanding.
JAMES G. PETTIT, President
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.
Contact
Aben Resources Ltd.
Don Myers
Corporate Communications
604-687-3376 or Toll Free: 800-567-8181
604-687-3119
info@abenresources.com
www.abenresources.com