Aethon Minerals Announces Exercise of Option and Acquisition of 100% Interest in Mineral Properties in Northern Chile
Toronto / TheNewswire / April 04, 2019: Aethon Minerals Corp. (TSX-V: AET), ("Aethon" or the "Company") is pleased to announce that it has exercised its option to acquire a 100% interest in certain mineral properties with prospective coper and gold targets located in northern Chile (the "Properties").
As previously announced in December 2017, the Company entered into an option agreement (the "Option Agreement") with Prospex SpA, BLC SpA, and Calisto SpA, (the "Optionors") to acquire a 100% interest (subject to an existing 0.98% gross sales royalty in favour of Altius Minerals Corporation (TSX: ALS) ("Altius Minerals") and a new 1.02% gross sales royalty in favour of the Optionors, for a total 2.0% royalty) in the Properties.
The Properties cover over 100,000 hectares of prospective projects in the Antofagasta copper region and the Maricunga gold-silver region. The most advanced property, Arcas, is in the Antofagasta mining region and contiguous to exploration projects currently being explored by several large-scale mining companies within the Antofagasta mining region. The Optionors are companies incorporated under the laws of Chile and are 49% owned by Altius Minerals. Aethon has incurred the required cumulative exploration expenditures of over CAD $750,000 in connection with the Properties in accordance with the Option Agreement and confirms that no further exploration expenditures exist for the Properties going forward.
John Miniotis, Interim CEO of Aethon, commented, "We are very pleased with the completion of this option exercise, which provides Aethon with a unique property portfolio located in one of the richest and most prospective mining jurisdictions in the world. Next steps include the advancement of discussions with potential key strategic partners in order to further advance exploration activities on the properties going forward."
About Aethon Minerals
Aethon Minerals is a mineral exploration company focused on creating shareholder value. Aethon has a large prospective land position consisting of over 100,000 hectares along prolific mining belts located in the Antofagasta and Maricunga regions of northern Chile. Aethon believes it is uniquely positioned for growth and is actively pursuing selective exploration-stage growth opportunities. Aethon is based in Toronto, Canada, and is listed on the TSX-V under the symbol "AET".
For further information please visit the Aethon Minerals website at www.aethonminerals.com or contact:
Interim Chief Executive Officer
Aethon Minerals Corp.
This news release may contain forward-looking information, such as statements regarding future plans and objectives of the Company, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Statements or information in this news release which are not purely historical are forward-looking, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators which filings are available at www.sedar.com.
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