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
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
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.jpg
SOURCE: Cayden Resources Inc.
For further information:
Ivan Bebek, President, CEO and Director