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Arven Resource Option Hits Yukon Fortune, Canadian Business Journal

VANCOUVER, British Columbia, October 4, 2022 (GLOBE NEWSWIRE) — Aven Resources Co., Ltd. (TSX-V: aB.N.) (OTCQB: aB.NAF) (Frankfurt: E2L.2) (“Aben” or “we”)agreement”) With Rackla Metals Inc. (“Rackla”), the Company has granted Rackla an option to acquire a 100% interest in the Hit Property, which consists of 24 mineral claims located in the Yukon Territory, Canada. Did (“property”).

Under the terms of this Agreement, Rackla may acquire 100% ownership of the Property by completing the following:

(a) Pay cash to the company in the amount of $25,000 CAD within 3 business days of the balance sheet date;When

(b) within 12 months from the deadline:

(i) cash payment to the Company of $25,000 CAD;

(ii) issue to the Company 250,000 shares of common stock in Rackla’s capital; and

(iii) incur eligible expenditures on the property totaling $100,000 CAD;

The Company shall retain an NSR of one-half percent (0.5%) of the Property. Pursuant to the Net Smelter Returns Royalty Agreement between Aben and Sandstorm Gold Ltd. dated October 17, 2019, Rackla will provide Sandstorm Gold Ltd. with his 2.0% net smelter returns royalty (“Existing Royalty”). Undertake the obligations of the paying company.

About Aben resources:

Aben Resources is a well-funded 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.


“Jim Pettit”
James G. Petit
President and CEO

For more information, please contact:
Riley Trimble, Corporate Communications
Aven Resources Co., Ltd.
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.

CBJ Newsmaker

Arven Resource Option Hits Yukon Fortune, Canadian Business Journal

Source link Arven Resource Option Hits Yukon Fortune, Canadian Business Journal

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