VANCOUVER, Dec. 19, 2013 /CNW/ - Cayden Resources Inc. (TSX.V:CYD) ("Cayden" or the "Company") is pleased to announce that it has received the final payment of
$7,872,000 USD from its February 1, 2013 land sale which is now
complete. In that sale, Cayden's Mexican subsidiary sold approximately
23% (3,997 hectares from the original 17,076 hectares) of its "Morelos
Sur Concession" to a subsidiary of Goldcorp Inc. for a total of
$15,744,000. The exact boundaries of the sold portion were varied
somewhat as part of the final completion documents.
The Company plans to work on monetizing its nearby Las Calles concession
next as Cayden management believes this portion of land has significant
value due to its proximity to Goldcorp's Los Filos mine (see map) and
because of encouraging drill results obtained by Cayden on the
concession in 2012.
Ivan Bebek, President and CEO, states "The proceeds from this sale gives
Cayden a strong cash position for exploration at our El Barqueño
project in 2014. We believe the value of our Las Calles concession will
be much higher than the portion of Morelos Sur that was just sold."
On behalf of the Board of Directors,
President and CEO
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
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 are available at www.sedar.com
Image with caption: "Figure 1 - Morelos Sur Land Sale Map (CNW Group/Cayden Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20131219_C5762_PHOTO_EN_35167.jpg
SOURCE: Cayden Resources Inc.
For further information:
Ivan Bebek, President, CEO and Director