Shares Issued for Rusty Springs Silver Project, Yukon
Vancouver, BC – Aben Resources Ltd. (TSX-V: ABN) (FWB: 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 (TSX-V: EPL).
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. The Company is well funded with approximately $4.5 million in its treasury.
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.
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.
This news release may contain certain “Forward-Looking Statements” that may involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. For a more detailed discussion of such risks and other factors, refer to the Company’s filings with Canadian Securities regulators available on www.sedar.com.