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 CV.
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 concessions. "
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.
PDF available at:
http://stream1.newswire.ca/media/2014/02/18/20140218_C5034_DOC_EN_36835.pdf