Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) is pleased to announce that the Company has entered into an option agreement with Rackla Metals Inc. whereby the Company has granted Rackla the option to acquire a 100% interest in the Hit Property, which consists of 24 mineral claims, located in the Yukon Territory, Canada.
Under the terms of the Agreement, Rackla may acquire a 100% interest in the Property by completing the following:
(a) paying CAD$25,000 cash to the Company within three business days following the closing date; and
(b) within twelve months following the closing date:
(i) paying CAD$25,000 cash to the Company,
(ii) issuing 250,000 common shares in the capital of Rackla to the Company, and
(iii) incurring a total of CAD$100,000 in Qualified Expenditures on the Property.
The Company shall retain a NSR of one-half percent (0.5%) on the Property. Rackla will assume the Company’s obligation to pay a 2.0% net smelter returns royalty to Sandstorm Gold Ltd. pursuant to the Net Smelter Returns Royalty Agreement between Aben and Sandstorm Gold Ltd. dated October 17, 2019.
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.
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We acknowledge the [financial] support of the Government of Canada.