Aben Resources Ltd

Aben Resources Ltd

March 16, 2011 09:01 ET

Aben Resources Ltd.: Shares Issued for Rusty Springs Silver Project, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 16, 2011) - Aben Resources Ltd. (TSX VENTURE:ABN) (FRANKFURT:E2L) (the "Company") announces that, further to its news release dated February 22, 2011, the Company has issued a total of 250,000 common shares and paid the sum of $25,000 to Eagle Plains Resources Ltd. 

Aben's Yukon Property Claims Map:

Aben Resources has been granted the option to earn a 100% interest in the 1,100 hectare Rusty Springs silver-lead-zinc property by making $500,000 in cash payments and issuing 1,500,000 common shares to Eagle Plains over 5 years. The property is subject to a three percent (3%) net smelter return royalty ("NSR") in favour of Eagle Plains. The Company has been granted a right to purchase a 2% NSR at any time prior to the commencement of commercial production for the consideration of $2,000,000. The common shares will be subject to a four month restriction on re-sale expiring July 15, 2011.

The mineralization on the Rusty Springs property, located north of Dawson City, Yukon, has been defined over a 6 square kilometre area. Drilling highlights from the property include hole 77-08 (drilled in 1977) which was reported to have returned 1,140 g/t Ag (33.27 oz/t silver), 4.72% lead and 2.30% copper over 37.5 metres (123 feet) from surface to a depth of 37.5 metres. Hole 95-07 (drilled in 1995) was located 1.5 kilometres from hole 77-08 and tested the same stratigraphic interval, returning 517 g/t Ag (15.1 oz/t silver), 3.0% copper and 1.3% zinc over 15.3 metres from 28.6 metres to 43.9 metres below surface.

About Aben Resources:

Aben Resources is a Canadian gold and silver exploration company developing properties in the Yukon and Northwest Territories, Canada. The Company is well funded with approx. $3 million in its treasury.

For further information on Aben Resources Ltd. (TSX VENTURE:ABN), visit our Company's web site at www.abenresources.com.


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.

Contact Information

  • Aben Resources Ltd.
    James G. Pettit
    604-687-3376 or Toll Free: 800-567-8181
    604-687-3119 (FAX)
    Aben Resources Ltd.
    Don Myers
    Corporate Communications
    604-687-3376 or Toll Free: 800-567-8181
    604-687-3119 (FAX)