Vancouver, British Columbia, November 10, 2021 (GLOBE NEWSWIRE) - Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) ("Aben" or "Company") has implemented a A formal option agreement (subject to regulatory approval) with Eagle Plains Resources Ltd. (TSX-V: "EPL"), pursuant to which Aben owns the Slocan Graphite Project located 34 kilometers northwest of Castlegar, British Columbia ( "protocol"). According to the terms of the agreement, Aben must complete exploration expenditures of US$1,000,000 within three years, issue 850,000 shares of common stock, and pay Eagle Plains US$150,000 in cash. In addition, if at any time Aben or its successors report more than 10 metric tons of resources, EPL will receive a one-time "success fee" for 500,000 Aben shares.

The Slocan Graphite project covers 2,387 hectares and is 100% owned by Eagle Plains, with no potential royalties or encumbrances. The property has multiple large flake graphite outcrops and floats, known as the Tedesco area, which is interpreted as extending more than 2.0 kilometers. Eagle Plains recently completed the field work on the property and was encouraged by preliminary field observations. The plan focuses on the exploration and geological mapping of the underexplored area of ​​the property in an effort to locate the extension of the known graphite mineralization and update it. Have a good understanding of the control of mineralization.

Figure 1. Regional location map https://abenresources.com/site/assets/files/4226/slocangraphite_16.png

Graphite is a naturally occurring form of carbon and an excellent conductor of electricity and heat. It is becoming more and more important as a key strategic component in advancing alternative energy solutions, including wind and solar energy, hybrid vehicles and other alternative energy uses. It is also the backbone of the steel production industry. Canada is currently the fifth largest graphite supplier.

The Slocan graphite project benefits from excellent infrastructure, including high-voltage power transmission lines within 1.2 kilometers from the property boundary, an extensive forestry road network inside and outside the property, and an existing graphite processing plant and facilities located 1.5 kilometers west of the property. It is owned by Eagle Graphite Corporation all.

Graphite mineralization was first discovered in the logging road exposure in the late 1990s. The project area completed ground and airborne geophysical prospecting in 2000 and 2010 respectively. Both surveys show that strong conductivity anomalies are closely related to surface mineralization, and are interpreted as extending along the strike and downdip of known mining points. A limited number of recorded samples have been collected on the Tedesco horizon and analyzed for carbon graphite, ranging from trace values ​​to grades as high as 3.36% and 4.43%.

Graphite mineralization mainly exists in the carbonate and calcium silicate lithology in the Passmore Dome of the Valhalla metamorphic complex. The geological environment is consistent with the crystalline flake graphite deposit model. Previous operators estimated that the mineralized layer was 50m thick, but they pointed out that it was difficult to determine due to lack of surface exposure. The horizon has never been tested by diamond drilling.

Past staff in the area concluded: "Although Tedesco's graphite deposit is in the early stages of exploration, geological, analytical, and geophysical data indicate that there is great potential for the formation of economic deposits" (BC Assessment Report 26537). Aben Resources agrees with Eagle Plains geologists, who believe that the high-quality, large-flaky characteristics of graphite mineralization discovered so far, the spatial extent of the conductivity of the 2010 airborne electromagnetic ("EM") survey, and the smallest historical exploration Activities, proximity to infrastructure, and good economic prospects for graphite as a strategic commodity make Slocan Graphite a compelling continuing exploration project.

"The Slocan graphite project is an excellent addition to the Aben project portfolio and will enable the company to enter the very exciting field of electric vehicle battery metals, which is currently growing exponentially due to the electrification of the automotive industry." Comment President and CEO Jim Pettit.

The management cautioned that the historical results were collected and reported by past operators and were not verified or confirmed by qualified personnel, but formed the basis of ongoing work at the Slocan Graphite property. Although the company believes that the above historical information is relevant to investors because it may indicate mineralization, readers are reminded that qualified personnel have not done enough work to assess the potential of the property to contain economic mineral deposits, and there is uncertainty as to whether the property contains graphite Mineral deposit.

Cornell McDowell, P.Geo., Vice President of Exploration for Aben Resources, has reviewed and approved the technical aspects of this press release and is a qualified person as defined by National Instrument 43-101.

Taiga and Aben have agreed to terminate the option agreement (the "Option Agreement") of the Chico Property signed by Aben and Eagle Plains Resources Ltd. on December 9, 2016 and subsequently transferred to Taiga on June 7, 2018. According to the terms of the agreement, Taiga has agreed to pay Aben 200,000 Canadian dollars in cash to terminate the option agreement, which will take effect immediately. Aben will no longer have any rights in Chico Property, and will no longer be obligated to pay cash, issue common stock, or incur exploration expenses. Going forward, Taiga will control 100% of the Chico property, subject to any related third-party royalties. Aben and Taiga share a co-director who has been avoided from voting on the termination of the option agreement.

Aben Resources is a Canadian gold and graphite exploration company with exploration projects in British Columbia, Ontario and Yukon. Aben is a well-funded junior exploration company. Cornell McDowell, P.Geo., Vice President of Exploration for Aben Resources, has reviewed and approved the technical aspects of this press release and is a qualified person as defined by National Instrument 43-101.

For more information about Aben Resources Ltd. (TSX-V: ABN), please visit our company's website www.abenresources.com.

"Jim Pettit" ______________________ JAMES G. Pettit President and Chief Executive Officer

For more information, please contact: Aben Resources Ltd. Tel: 604-416-2978 Toll Free: 800-567-8181 Fax: 604-687-3119 Email: info@abenresources.com

Neither TSX Venture Exchange nor its regulatory service provider (as the term is defined in the policies of TSX Venture Exchange) is responsible for the adequacy or accuracy of this press release.

This press release includes certain statements that may be considered "forward-looking statements." Except for statements of historical facts, all statements in this press release involving events or developments anticipated by the company's management 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 or developments may differ materially from those in the forward-looking statements. If management’s beliefs, estimates or opinions or other factors change, the company assumes no obligation to update these forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements, including market prices, success in exploration and development, continued availability of capital and financing, and general economic, market or business conditions. For more information, please refer to the company's public documents on www.sedar.com.

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