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October 24th, 2013, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (TSX-V: ABR) (ARB-FRANKFURT) (“Ashburton” or the "Company”) is pleased to announce that it has acquired the Corky North and Vault East properties from Caribou King Resources (“Caribou”) (TSX-V: CKR). In consideration for the acquisition, Caribou will issue 750,000 common shares to Caribou, subject to TSX approval.
The properties total 9,540 hectares and have been acquired as part of the Company’s focus on platinum group element (PGE) exploration in the region. They are southeast of, and adjacent to the Prophecy Platinum (TSX-V: NKL) Wellgreen Deposit. Wellgreen is currently the third largest undeveloped platinum group metal (PGM) resource outside southern Africa or Russia, with 7 million ounces of PGM+Au (see Prophecy Platinum Corporate Overview, October 2013, 45p.). The Company recently signed a letter of intent with Denali Resources Ltd., a privately-held company, for the Donjek-Arch claims, consisting of 6,770 hectares that are northwest of, and contiguous with the Wellgreen project (see news release, October 22, 2013).
Ashburton Ventures is a junior exploration company actively seeking mineral and energy opportunities for the benefit of all its stakeholders.
ON BEHALF OF THE BOARD
Michael England, President
For further information contact:
Telephone: (604) 683-3995
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Ashburton Ventures Inc. Actual results may differ materially from those currently anticipated in such statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
TSX.V ABR FRANKFURT ARB