Cayden acquires the Shamba-la claim at the El Barqueño Gold Project
VANCOUVER, May 21, 2014 /CNW/ - Cayden Resources Inc. (TSX.V:CYD) ("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 www.caydenresources.com for a map).
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 www.caydenresources.com
Forward Looking and other Cautionary Information - Neither the TSX Venture Exchange nor any other regulatory authority accepts responsibility for the adequacy or accuracy of this release. This release includes certain statements that may be deemed "forward-looking statements". Forward-looking information is information that includes implied future performance and/or forecast information including information relating to, or associated with, exploration and or development of mineral properties. These statements or graphical information involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different (either positively or negatively) from any future results, performance or achievements expressed or implied by such forward-looking statements. Investors should review the Company's AIF which is available at www.sedar.com
SOURCE Cayden Resources Inc.
Image with caption: "Figure 1 - El Barqueño Claim Map (CNW Group/Cayden Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20140521_C9210_PHOTO_EN_40581.jpgFor further information:
Ivan Bebek, President, CEO and Director