VANCOUVER, Feb. 18, 2014 /CNW/ - Cayden Resources Inc. (TSX.V:CYD) ("Cayden" or the "Company") is pleased to announce that it has acquired the Shangri-la claim
located within the El Barqueño Concessions in Jalisco, Mexico, which
are fully optioned by Cayden. The Shangri-la claim lies adjacent to the
Pena d'Oro target where drilling will commence shortly.
Under the terms of the acquisition, Cayden is paying $100,000 for a 100%
interest in the claim, which carries a 1.5% Net Smelter Return royalty
(a "NSR") payable to a third party. Cayden has paid $20,000 on the
signing of the agreement and $80,000 will be paid once the title for
the claim is registered to Cayden's subsidiary, Minas Chaparral SA de
An additional 2.5% NSR will be payable to the claim vendor and is
purchasable by Cayden for $250,000 at anytime.
President and CEO Ivan Bebek stated, "This acquisition helps complete
the significant El Barqueño land package, which encompasses over 46,000
hectares of land. The Company is amidst an extensive permitting process
which will provide surface exploration and drilling permits for up to
300 holes at five intermediate to advanced exploration targets. Cayden
is planning to drill 4 of 9 exploration targets identified to date on
the concession this year. We believe we are in the very early stages of
discovering a large, robust gold system that is being constantly
revealed from the results of the current drill program at the Azteca
target and our extensive surface work programs throughout the
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.
PDF available at: http://stream1.newswire.ca/media/2014/02/18/20140218_C5034_DOC_EN_36835.pdf
SOURCE: Cayden Resources Inc.
For further information:
Ivan Bebek, President, CEO and Director