Aben Resources Closes First Tranche of Private Placement
Vancouver, BC – Aben Resources Ltd. (TSX-V: ABN) (Frankfurt: E2L) (OTC Pink: ABNAF) (the “Company”) announces further to its news release of August 21, 2012, the Company has raised in its first tranche closing the sum of $348,990 by the issuance of 4,985,572 flow-through units at a price of $0.07 per unit.
The funds raised will be applied to the continuing drill program on the Company’s 100% owned, 18,314 acre Justin Gold-Silver Project located in the southeast Yukon.
Justin Project Plan View of POW Zone Drilling:
Each flow-through unit consists of one flow-through common share and one non-transferable, non flow-through warrant (the “Warrant”). Each Warrant entitles the holder to purchase one non flow-through common share at a price of $0.10 until 5:00 p.m. (Vancouver time), September 7, 2015. A finders’ fee of $7,962.50 and the issuance of 113,750 compensation warrants, on the same terms as the subscribers’ units, was paid in connection with the first tranche closing. The common shares comprising the units and any shares acquired on exercise of the Warrants will be subject to a four month restriction on re-sale expiring on January 8, 2013.
About Aben Resources:
Aben Resources is a Canadian gold and silver exploration company exploring and developing its portfolio of properties in the Yukon and NWT in which it has exploration rights to over 600,000 acres of land. The Company’s road-accessible flagship property, the Justin Gold-Silver Project, boasts a new greenfield discovery made in 2011 with an aggressive 2012 follow-up exploration and drill program currently underway.
For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
JAMES G. PETTIT
For further information contact myself or:
Aben Resources Ltd.
Corporate Development and Communications
Toll Free: 800-567-8181
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.