Aben Resources provides an update on the permit application and exploration results summary from the Canadian business journal, the Slocan graphite property in southeastern British Columbia.

VANCOUVER, British Columbia, October 11, 2022 (GLOBE NEWSWIRE) — Aven Resources Co., Ltd. (TSX-V: ABNMore) (OTCQBs: Abu Naf) (Frankfurt: E2L2) (“Aben” or the “Company”) has received analytical results from a surface exploration operation completed in July 2022. The exploration program marked the first comprehensive fieldwork to assess the property’s potential to host economical graphite mineralization. Exploration work consisted of field mapping, rock and soil sampling, and evaluation of potential drilling sites for planned future drilling programs.

Slocan project location
https://map.juniormininghub.com/?gid=3257&modal=project_summary

Aaben geologists collected a total of 52 rock and 83 soil samples from areas located both inside and outside of the strong conduction anomaly identified by the 2010 airborne electromagnetic geophysical survey. Previous studies have shown that over 4.5% flake graphite mineralization grades are hosted in metamorphic rocks located within the Tedesco Conductive Anomaly. The results of the 2022 rock sampling program returned grades ranging from trace to he 4.36% graphite flake carbon. This reflects the diversity of rock types from which the samples were procured. A previously unsampled zone located 2 km northeast of the main conduction band returned multiple samples with grades of graphitic carbon between 1 and 2%, indicating a significantly extended mineralization trend along the strike. I was. This discovery forced Aben to expand the size of his Graphite property to his 2826 hectares by adding to his 439.4 hectare claim through staking. The main Tedesco conductive zone has never been drill-tested, despite attractive matching geophysical conductors and graphite-bearing surface rock samples.

A soil sampling program was completed in areas where outcrops were not exposed due to thickened glacial cover to determine whether soil sampling could be a productive exploration tool for the property. The results correlate well with known graphite mineralization and help delineate new areas to target increased sampling densities, mechanical trenches and potential drill holes. The accompanying map (link below) shows two distinct areas of uplifted graphite-bearing soil.

Slocan water surface sampling
https://abenresources.com/site/assets/files/4277/surfacesamples.jpg

Slokan Tedesco Conductor
https://abenresources.com/site/assets/files/4229/slocan_tedesco_conductor.jpg

Aben Resources has formally submitted a Notice of Work for the Slocan graphite property to the Ministry of Energy, Mines and Low Carbon Innovation in spring 2022. The Multi-Year Area Based (MYAB) permit application is under review by the state government. Following meaningful consultations with his two groups of indigenous peoples and the issuance of guaranteed landfill bonds. Communication between Arben, the Ministry and the Indigenous Peoples continues and progresses, but the final date of receipt of exploration permits remains unknown.

about Slocan Graphite Project:

The Slocan Graphite Project benefits from excellent infrastructure, including forest road access on and throughout the site, high voltage power lines within 1.0 km of the site perimeter, and an existing graphite processing facility within 1.5 km of the site. The facility is owned by Eagle Graphite Corporation and is one of only two natural flake graphite production facilities in North America.

Slocan Infrastructure
https://abenresources.com/site/assets/files/4229/slocan_infrastructure.jpg

Aben has the exclusive right to earn 100% interest minus a 2% net production royalty (“NPR”) on the road-accessible Slocan graphite project, located 34 kilometers northwest of Castlegar, British Columbia. I own it. The 2,826-hectare Slocan Graphite Property hosts multiple flake graphite-containing outcrops (high values ​​of 3.36% and 4.43% graphite carbon) in the Tedesco Zone. A known superficial event.

slocan presentation
https://abenresources.com/site/assets/files/4229/slocan_graphite_2022.pdf

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 value from 2021 to 2025.

In terms of value and volume, batteries will show the fastest growth at 17.9% from 2021 to 2025. An average HEV contains up to 10 kg of graphite, while an EV has up to 70 kg.

Synthetic graphite is currently the preferred anode material for batteries. However, in the last few years, a significant shift towards natural flake graphite has been observed due to cost competitiveness and performance.

Graphite is the most preferred battery anode material for rechargeable batteries and the battery segment is expected to create an opportunity worth US$4.6 billion between 2020 and 2025.

Asia-Pacific was the largest consumer of graphite in 2019 and is expected to grow 9.1% in value between 2021 and 2025.

China’s graphite production is expected to be consolidated due to environmental concerns. New companies are entering the graphite space, especially in processing natural flake graphite. Graphite is considered a green energy and technology material.

https://abenresources.com/projects/slocan/about-graphite/

Eligible person:

Cornell McDowell, P.Geo. and Aben Resources Vice President of Exploration, who has reviewed and approved the technical aspects of this news release and is a Qualified Person (QP) as defined by National Instrument 43-101.

About Aben Resources:

Aben Resources is a Canadian gold and graphite exploration company with exploration projects in British Columbia, Ontario and the Yukon Territory.

For more information about Aben Resources Ltd. (TSX-V: ABN), please visit our website at www.abenresources.com.

ABEN RESOURCES LTD.

“Jim Pettit”
______________________
James G. Petit
President and CEO

For more information, please contact:
Aven Resources Co., Ltd.
Riley Trimble, Corporate Communications
Phone: 604-416-2978
Toll Free: 800-567-8181
Fax: 604-687-3119
Email: [email protected]source.com

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

This release contains certain statements that may be considered “forward-looking statements.” All statements, other than statements of historical fact, in this release address events or developments anticipated by the company’s management and are forward-looking statements. Although management believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may vary. or developments may differ materially from forward-looking statements. We undertake no obligation to update these forward-looking statements if management’s beliefs, estimates, opinions or other factors change. Factors that could cause actual results to differ materially from forward-looking statements include market prices, exploration and development success, continued availability of capital and financing, general economic and market or business situations. For more information, please see the company’s public documents at www.sedar.com.

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