Monthly Archives :

March 2013

ASHBURTON FINANCING

ASHBURTON FINANCING 150 150 Progressive Planet Inc.

March 22nd, 2013, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (ABR-TSX:V) (ARB-FRANKFURT)  (“Ashburton” or the "Company”) announces that it has arranged a non-brokered private placement of 10 million units ("Units") at a price of $0.05 per Unit for aggregate gross proceeds of $500,000 (the "Offering").  Each Unit will be comprised of one common share ("Share") and one Share purchase warrant of the Company ("Warrant").  Each Warrant will entitle the holder to purchase one Share (a "Warrant Share") for a period of 24 months from the closing date at an exercise price of $0.10 per Warrant Share.

The Company may, in its sole discretion, pay a finders' fee to agents of the Company consisting of: (i) a cash fee in an amount of 10% of the proceeds raised by such finder as part of this Offering, and (ii) a number of finder's warrants entitling the holder thereof to purchase that number of Shares of the Company ("Finder's Warrant") that is equal up to 10% of the number of units placed through the finder as part of this Offering.  Each Finder's Warrant will entitle the holder to purchase one Share for a period of 18 months from the closing date at an exercise price of $0.10 per Finder's Warrant.

The proceeds raised will be used for general corporate purposes and advancing its various projects.

The private placement is subject to the approval of the TSX Venture Exchange.

Ashburton Ventures Incorporated is a Canadian-based junior exploration with active mineral programs in Canada and Nevada, USA.

ON BEHALF OF THE BOARD

Michael England, President

For further information contact:

Telephone: (604) 683-3995

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.

ASHBURTON ACQUIRES URANIUM PROJECT ADJOINING AREVA/CAMECO AND DENISON IN ATHABASCA BASIN

ASHBURTON ACQUIRES URANIUM PROJECT ADJOINING AREVA/CAMECO AND DENISON IN ATHABASCA BASIN 150 150 Progressive Planet Inc.

March 21st, 2013, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (ABR-TSX:V) (ARB-FRANKFURT)  (“Ashburton” or the "Company”) is pleased to announce that it has entered into an agreement with an arms-length vendor by which the Company can earn a 100% interest in the Bernick Lake Uranium Project, which covers ~1,800 ha on the eastern side of the Athabasca Basin, Saskatchewan, located approximately 11.6 km southeast of Cameco’s Cigar Lake Uranium Mine.  The primary target at Bernick Lake is a broad subsurface EM anomaly lying within a magnetic low identified through two GEOTEM surveys and an airborne Gravity survey.  The project lies in the highly prospective corridor of the Eastern Athabasca Basin and other claimholders in the area include Cameco Corporation to the west and Denison Mines to the east.  In this area the basinal unconformity lies at relatively shallow depths, between 240-270m), and the geophysical target is interpreted as lying above this depth.  In an interpretation report by Michael J. Cain, P. Eng., (Saskatchewan Assessment File 74H-0060) the Bernick Lake subsurface anomaly was interpreted to be structurally controlled and peaks in the X and Z channels further suggested that “there could be a series of conductive trends and possible some complex geology and structure.”   In addition, the target zone coincided with gravity highs observed in a Falcon Airborne Gravity Gradiometer Survey, flown by Fugro Airborne Services for AREVA , and suggested that this area has been subject to alteration events that have resulted in silicification.  

With regard to the acquisition, Company President Michael England commented, “In consideration to its proximity to the Cigar Lake Uranium Mine (with reserves of over 200M pounds U3O8) combined with high-priority exploration targets identified through high quality prior work, Ashburton is extremely excited about this key acquisition of boardwalk realty in the prolific eastern Athabasca Basin.  With this second acquisition in the basin coupled with the re-emergence of the uranium space, the Board hopes it can increase shareholder value in the short and long term.”

The Company can earn a 100% interest in the Bernick Property by paying $100,000 to the vendor in year one and issuing 1,400,000 common shares over three years.  The Company must make a final payment in year three of $1,000,000 and complete $3,000,000 in exploration expenditures on the property within four years.  A 1% NSR has also been granted to the vendor, of which 0.5% may be purchased by the Company for $1,000,000. A finder’s fee will be payable. This transaction is subject to TSX Venture Exchange approval.

The technical content of this release was approved by Paul D. Gray, P.Geo. Mr. Gray is a qualified person as defined by National Instrument 43-101.

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

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.

ASHBURTON ACQUIRES URANIUM PROJECT ADJOINING FISSION ENERGY AND ALPHA MINERALS IN ATHABASCA BASIN

ASHBURTON ACQUIRES URANIUM PROJECT ADJOINING FISSION ENERGY AND ALPHA MINERALS IN ATHABASCA BASIN 150 150 Progressive Planet Inc.

March 14th, 2013, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (ABR-TSX:V) (ARB-FRANKFURT)  (“Ashburton” or the "Company”) announces it has acquired two prospective uranium properties located in Saskatchewan in the Alpha Minerals Inc., (TSX.V-AMW; “Alpha”) and Fission Energy Corp., (TSX.V-FIS; “Fission”) Patterson Lake South discovery area.

One claim, 147 hectares in size, is contiguous to the northern boundary of the Fission Energy Corp. block of claims which encompasses the Patterson Lake South Project and discovery area under the joint venture arrangement of Fission and Alpha. The other property is 1,090 hectares in size, and is located to the southwest of the Patterson Lake South discovery block, approximately 25 km from the boundary of the claims. This second property covers an area of historic Geological Survey of Canada (GSC) lake sediment samples that range from 3.9ppm Uranium to 7.69ppm Uranium. The distance between the two lakes that were sampled is approximately 2km.

Fission and Alpha are actively exploring the Patterson Lake South Uranium discovery and have recently announced via www.sedar.com on March 11, 2013, several zone intercepts of radioactivity including "53m interval of continuous mineralization; including 11.5metres of continuous off-scale radioactivity (greater than 9,999 counts per second); the sum of discrete intervals of off-scale radioactivity total 13.89 metres; and greater than 26% of the interval measure off scale."

Ashburton will now examine and compile all available historic and related mineral exploration data associated with the acquired properties towards the design and implementation of a set of 2013 uranium exploration work programs. The Company also intends to build its portfolio of uranium projects in the Athabasca Basin. 

To purchase 100% of these claims Ashburton will issue 1.5 million shares of the Company and pay $10,000 upon signing. A finder’s fee will be payable.

The technical content of this release was approved by Paul D. Gray, P.Geo. Mr. Gray is a qualified person as defined by National Instrument 43-101.

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

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.

error: