Aben Minerals Closes Private Placement

Vancouver, BC, May 23, 2023 (GLOBE NEWSWIRE) -- Aben Minerals Ltd. (TSX-V: ABM) (OTCQB: ABNAF) (Frankfurt: R26) (“Aben” or “the Company”) is pleased to announce that, further to its news release issued May 19, 2023 it has closed a non-brokered private placement financing for total gross proceeds of $500,000 (the “Private Placement”). The Company has 5,000,000 units (the “Units”) at a price of CAD $0.10 per Unit.

Each Unit is comprised of one common share and one transferable warrant, each warrant entitling the holder to purchase one additional common share for a period of four years at a price of CAD $0.15. In addition, the Company has paid a finder's fee of $1,050 and 10,500 finder's warrants to an arm's-length party, with each finder’s warrant entitling the holder to purchase one common share for a period of four years at a price of CAD $0.15.

The Company intends to use the proceeds from this Private Placement towards exploration expenditures and general working capital purposes. The Private Placement is subject to final TSX Venture Exchange approval, and all securities are subject to a four-month-and-one-day hold period.

About Aben Minerals:

Aben Resources is a diversified Canadian gold and graphite exploration company with exploration projects in British Columbia, Ontario, and the Yukon Territory.

For further information on Aben Minerals Ltd. (TSX-V: ABM), visit our Company’s web site at www.abenminerals.com.

ABEN MINERALS LTD.

“Jim Pettit”
______________________
JAMES G. PETTIT
President & CEO

For further information contact:
Aben Minerals Ltd.
Riley Trimble, Corporate Communications
Telephone: [phone]
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [e-mail]

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 release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes 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. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.