June 27, 2023, Toronto (Canada) / IRW Press / JOURDAN RESOURCES INC. (TSXV: JOR; OTCQB: JORF; FSE: 2JR1) (“Jourdan” or the “Company”) is pleased to announce the acquisition of 11 mineral claims strategically located within or adjacent to the Company’s Vallée East and Preissac properties (see Figure 1).
Following its news release dated May 23, 2023, the Company has acquired six mining claims north of Val d’Or, Quebec (the “Initial Claims”) pursuant to a purchase agreement dated May 23, 2023 (the “Agreement”) (the “Initial acquisition”). The consideration for the acquisition of these concessions is made up as follows in accordance with the agreement:
–
100,000 C$;
– 2,040,816 common shares of the Company at a deemed price of $0.0735 per share (the “Compensation Shares”); and
– a 2% NSR royalty on the first concessions payable to the seller; Jourdan has the right to buy back half of the NSR prior to commercial production for $1 million (indexed to inflation as per Canada’s Consumer Price Index).
The Consideration Shares are subject to a four month and one day regulatory hold period expiring on October 24, 2023. The first acquisition will be in an arm’s length transaction within the meaning of the rules of the TSX Venture Exchange. Jourdan did not pay any finder’s fees in connection with the first acquisition.
Figure 1 – Location of Jourdan Projects – Lithium Trend Vallee
The six mineral claims forming part of the initial acquisition total 81.29 hectares and were acquired to fill a gap within the Company’s current East Vallée property. These new claims cover an important portion of the southeastern extension of the Vallée lithium trend, a 30km belt along the north end of the mineral-rich LaCorne Batholith that is the site of several known lithium occurrences and an active lithium mining operation. These new claims lie immediately to the southeast and along strike of the North American Lithium (“NAL”) mining operation, majority owned by Sayona Mining Limited, and the Company’s Vallée property, a portion of which is the subject of a joint venture agreement with NAL (the “Joint Venture Property”). The Company has drill defined lithium mineralization in pegmatites on and around the joint venture property in 2021 and 2022 (see Figure 2). The Company intends to test the newly acquired concessions as part of its planned summer 2023 exploration program at East Vallée. Despite the location of the claims along the Vallée lithium trend, only one drill hole is known to have been drilled there. The initial concessions are located immediately east of the site of planned 2023 drilling to be completed by the Jourdan-NAL joint venture this summer. For more information about the joint venture, see the Company’s news release dated November 14, 2023, which can be found on the Company’s SEDAR profile at
www.sedar.com is available.