Aben Gold Signs Option Agreement with Kingfisher Metals for Forrest Kerr Project in the Golden Triangle
Aben Gold Corp. (TSX-V: ABM) (OTCID: ABNAF) (Frankfurt: ML1) is pleased to announce that it has entered into an option agreement with Kingfisher Metals Corp. which provides Kingfisher a three-year option to acquire a 100% interest in the Forrest Kerr Project located in the Golden Triangle of British Columbia, Canada. The Property contains fifty (50) mineral claims, comprising approximately 20,197 hectares.
The Agreement provides Kingfisher an opportunity to earn 100% interest in the claims over a three year period by fulfilling combined cash and share issuance commitments of CAD $2.7 million.
The Option Agreement:
| Date | Cash Payments | Value of Shares Issued |
| On the Closing Date | $150,000 | $500,000(1) |
| On or before the date that is 6 months from the Closing Date | $150,000 | $500,000(1) |
| On or before the date that is 12 months from the Closing Date | $200,000 | $500,000(1) |
| On or before the date that is 36 months from the Closing Date | $700,000 | N/A |
| TOTAL | $1,200,000 | $1,500,000 |
(1)Deemed price shall be the higher of a) 5-day VWAP and b) the last closing price of the Optionee Shares, as quoted on the TSXV less the maximum allowable discount under TSXV policy of 25% at the time the Agreement is announced.
All Shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws. No finders’ fees or commissions are owing by Aben in connection with entering into the Agreement. Completion of the transactions contemplated by the Agreement, and the issuance of the Shares, remains subject to the approval of the TSX Venture Exchange.
Kingfisher will be the operator of the project during the option period.
President and CEO Riley Trimble states, “This transaction delivers Aben $2.7 million in cash and shares with no further expenditure on Forrest Kerr, sharpens our focus as a pure Yukon gold explorer, and places the project with an excellent team that’s actively consolidating the Golden Triangle. We can now put 100% of our effort and capital behind our flagship Justin Gold Project in Yukon.”
About Kingfisher:
Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on copper-gold exploration in the Golden Triangle, British Columbia. Through outright purchases and option earn in agreements (Orogen Royalties, Golden Ridge Resources and Aben Gold) the Company has quickly consolidated one of the largest land positions in the Golden Triangle region at with the 933 km2 HWY 37 Project and 202 km2 Forrest Kerr Project. Kingfisher also owns (100%) two district-scale orogenic gold projects in British Columbia that total 641 km2.
About Aben Gold:
Aben Gold Corp. is a Canadian gold exploration company with exploration projects in the Yukon Territory and British Columbia. The Company’s flagship, the 7,400-hectare, 100% owned Justin Gold Project is located in the southeast Yukon in the Tintina Gold Belt adjacent to Seabridge Gold’s 3 Aces Project.
The Company’s goal is to increase shareholder value through new discoveries and developing exploration projects in geopolitically favourable jurisdictions.
The Company has 23.2 million shares outstanding.
For further information on Aben Gold Corp. (TSX-V: ABM), visit our Company’s website at www.abengold.com.
ABEN GOLD CORP.
“Riley Trimble”
______________________
Riley Trimble
President & CEO
For further information contact:
Aben Gold Corp.
Riley Trimble, President & CEO
Telephone: 604-639-3852
Facsimile: 604-687-3119
Email: info@abengold.com
