May 23 2014
Cayden Resources Inc. ("Cayden" or the "Company") is pleased to announce that it has acquired the Shamba-la Concession located within the El Barqueno Concessions in Jalisco, Mexico. Shamba-la is approximately 400 hectares in size and is located along the northwest border of the Pena de Oro target where Cayden is currently drilling (see Figure 1 below or https://www.agnicoeagle.com/English/home/default.aspx for a map).
Figure 1 - El Barqueño Claim Map (CNW Group/Cayden Resources Inc.)
Under the terms of the acquisition, Cayden will pay a total of $251,000 USD and issue 150,000 common shares for a 100% interest. Cayden paid $51,000 USD on signing and the remaining balance and common shares are due once title is registered under the name of Minas Chaparral SA de CV, Cayden's subsidiary.
The Shamba-la concession is subject to a 2.5% NSR payable to the vendor, which is buyable at anytime for $500,000 USD.
President and CEO Ivan Bebek stated, "The acquisition of Shamba-la is a key development for the El Barqueno project. We believe Shamba-la provides an excellent opportunity to expand on the recent drilling success we are having at the Pena de Oro target."
The agreement is subject to the approval of the TSX Venture Exchange and the shares will carry a four-month hold period commencing on the date of issuance.
About Cayden Resources - Cayden is a junior mining company focused on delivering shareholder value through the acquisition, exploration and development of precious metal projects in Mexico. The management team at Cayden is highly experienced with an impressive track record of success in the discovery, development and financing of mineral projects. Cayden is also strongly committed to the highest standards for environmental management, social responsibility, health and safety for its employees and neighboring communities. Cayden trades on the TSX Venture Exchange under the symbol "CYD".
For more information on Cayden Resources, please visit our website at https://www.agnicoeagle.com/English/home/default.aspx
Source: https://www.agnicoeagle.com/English/home/default.aspx